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

By: Sachin Gupta | Twitter Follow @sach_gupta

Current state of Real estate in India

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

Project delays and significance of real estate bill

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

States that are going to benefit

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

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

• Outstanding Investment potential

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

• Affordable housing

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

• Improved infrastructure

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

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

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


Data Source: Assocham, National Housing Bank

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

Gurgaon Master Plan 2031

Master plan 2031 for the city of Gurgaon has been conceived keeping in mind the projected population. Till 2012, Gurgaon Manesar urban complex had been developed to accommodate a population of 22 Lacs. However, by 2031, the city’s population will rise to 42.50 Lacs. Therefore, an additional area of 22957 hectares has been added in the form of urban area to accommodate an additional population of 20 Lacs by 2031. According to 2031 master plan, total land use in Gurgaon Manesar urban complex will be 32842 hectares.

• 16010 hectares of total land use has been reserved for residential purposes in master plan 2031, out of which an area of 8000 hectares has already been developed.
• 1616 hectares has been reserved for commercial purposes in master plan 2031, out of which HUDA has developed 480 hectares of land.
• 4613 hectares of total land use has been reserved for industrial use in 2031 master plan, out of which an area of 1246 hectares has already been developed.
• 4420 hectares of land use has been reserved for transport and communication.
• 626 hectares of land use has been reserved for public utilities.
• 2035 hectares of land use has been reserved for public and semi public use, out of which an area of 135 hectares has already been developed.
• 2775 hectares of land use has been reserved for open spaces.
• And special zone (114 hectares) and defense land (633 hectares) will take the remaining part of total land use.

Below you can find the high resolution Gurgaon Manesar Urban Complex Plan for 2031.

Gurgaon master plan 2031 from Green Realtech Projects Pvt. Ltd

Source: Haryana Government - Town and Country Planning

Pradhan Mantri Awas Yojana – Housing for All by 2022

Since the new central government under the leadership of Prime Minster Narendra Modi took charge of governing the country, various initiatives have been announced. Some of the initiatives are ‘Make in India’, Digital India, Skill India, Start-up India, smart cities, Housing for all, etc. Work has started on all these initiatives and deadlines have been set for each program.

Housing for all by 2022 is an initiative under which every household will have pucca house with 24x7 electricity supply, water connection, and toilet facilities. The mission started from 17th June 2015 and will be under implementation in 3 phases till 31st March 2022. The 3 phases are:

1. Phase 1 – Beginning from April 2015 to March 2017. Phase 1 will cover 100 cities states/UTs as per their willingness.
2. Phase 2 – Beginning from April 2017 to March 2019. This phase will cover another 200 cities.
3. Phase 3 – Beginning from April 2019 to March 2022. This phase will cover another 200 cities.

In all 500 Class I cities would be covered under this ‘Housing for all’ mission. Each house will have a carpet area of about 30 square meters. However, states/UTs will have the flexibility to determine the size of the house and basic amenities.

The mission will be implemented using following 4 methodologies:

1. In Situ slum redevelopment
2. Affordable housing through credit linked subsidy
3. Affordable housing in partnership with public sector or private sector
4. Subsidy for beneficiary led individual house construction

Find below the detailed ‘Housing for all by 2022’ report:

Pradhan mantri awas yojana – housing for all by 2022 from Green Realtech Projects Pvt. Ltd

Source: National Housing Bank

Digital India by promoting Digital Health

My objective to do this post is to seek your opinion whether you would like to use Medzap or not. If your answer is yes, I seek your feedback on what more you would like to see in the product so as to use it every day. If your answer is no, I seek your feedback on how to make this product useful.

Let me start the post with the story on how we started MedZap

In August last year I was in the last month of my notice period from my employer, that is when I along with my co-founder started to deliberate on new ideas. We didn’t have any idea to work on but our vision was clear that we want to build something which will solve a real life problem.

Thinking of real life problems, I started to write down my routine mundane activities from last few months with the objective to find a real problem which I faced. Buying medicines was one of my regular activities (My wife was not really keeping well after we became parents). But was there a problem which I faced while doing this activity?

Yes there was. 2 out of 3 times I forgot to carry the prescription and thus had to go home to get the prescription. Also I used to forget the prescription at the chemists shop while collecting my medicines. Thus we decided to build Medzap to solve this problem.

We set out to discover what can be other use cases where people would like their health records to be available on their mobile. We discussed with people from India as well as other countries. Some friends from countries like France, Spain who travels frequently said they need a portable way to carry their doctor prescriptions so that they can refer them while travelling and don’t get into the hassle of managing paper records. Thus we were convinced about the idea of Medzap where the problem we are solving is “mobility and longevity of paper based medical records.”

Medzap is a simple application where user takes a picture of his/her medical records, adds doctor’s name & relevant keywords and saves the records. The record is then saved on the cloud and can be accessed anywhere anytime even if the user changes their mobile phone.

 

How it works:

Through Medzap we want to take forward the mission of “Digital India” by promoting “Digital Health“.

The data collected will help the doctors take informed decision based on the medical history of the patients. This data will also be used find the effectiveness of medicines. We have introduced doctor rating system also which will enable to get credible data on the doctors in your neighborhood.

We also ask the user to create his/her medical profile which include details like allergies, surgeries, life style, eating habits, job type, etc. This helps us analyze the common medical problems related to certain life styles, job types, etc.

In India, we take second opinions on our medical conditions. We have made this easier by integrating the app with the common messaging services like WhatsApp, Facebook messenger and also the social networking & emailing websites.

The app is free for users and we plan to keep it this way. From the economic perspective, the app also has an expense tracker build into it, which helps the patients to track the money spent on each doctor/pharmacy/lab visit.

I always give this example of the most common use case in India: the use of antibiotics for any medical condition. If you are changing doctor and the new doctor gives you the same antibiotics as the earlier doctor then you are not going to improve. So carrying the earlier medical records is very important when you are changing doctors. And we make this easier by providing the medical records on your phone.

In terms of competition there are similar apps but even Google drive and Dropbox are also our competitors. However Medzap has been built around a much focused use case of storing files on cloud. The app also interacts with the user to check about the user’s well being and rate their experience at the respective hospital.

This is a guest post by Amit Kumar. You can download our Android app here - Download Medzap. We welcome your feedback; please share it with us at setup@medzap.co

THE REAL ESTATE SECTOR IS SEEKING TO TIE UP WITH ONLINE REAL ESTATE STARTUPS

When the world is moving to the web, then how can the housing sector stay behind? The venture of new real estate startups is heading towards the online business, as it is one platform that can reach to millions of potential customers. The segment is seeking a consolidation that will lead to monetization. It is hoping to assure powerful business entities with the latest being the merger of CommonFloor with Quikr's realty vertical.

• The growth of online real estate startups

Online real estate collaborations include PropTiger's purchase of Makaan-.com and Square Yards' acquisition of three companies in the past year. It is also reported that Housing.com is in talks with Snapdeal and News Corp for a stake sale. Apparently, over the past two years, the segment has attracted over $250 million, or Rs 1,600 crore in investments. This occurred during a period when realty sales were the slowest in India. The investments were made by Helion Ventures, Nexus Venture Partners, Accel India, Horizen Ventures, SoftBank Group, Qualcomm Ventures and Nirvana Ventures. It is believed that more mergers are currently happening as they are driven by the synergistic value created by the two companies for achieving goals faster. The mergers will be more for acquiring products.

• The benefits of resorting to online business

Every business aims at offering value to their customers but also seek to gain maximum profits. However, profitability depends on the stage at which these companies are now. India is still at an early stage. A saturated market with too many competitors also reduces margins. At times, part of the amalgamation is taking place because of a founder's inability to take the business to the next level or sustain it in challenging market conditions.

Today, online real estate value chain has its base in transactions. Organizations are looking to control the advisory transaction space. Study reports reveal that more mergers and acquisitions are bound to happen in the area of search and discovery. This happens to be an area that has under-performed despite high levels of investment. The emergence of more mature business models is profitable and sustainable this year.

• What is the future of such consolidations

The prevailing sluggish real estate market is expected to launch more opportunities for acquisition of entities that are grappling to move ahead. There is an enormous scope for consolidation, given that there is very limited capital available. Apart from that, there are plenty of opportunities available now. As the burn rate is quite low, some firms have been introducing multiple options, including fundraising and acquisition for future growth. General investors drive most of the acquisition after second and third rounds of funding, which are strategically running the companies. According to industry officials, consolidation will be quicker than the rate at which these companies entered the market.

So as we see, today, investors are enthusiastic and confident of fundraising by these startups. Now, companies themselves are looking for stronger partners to achieve growth. It can be concluded that with new acquisition proposals, online construction developers are on their way to creating a revolution in the real estate space.


This is a guest post by Deepak Yewale. The opinions expressed within this article are the personal opinions of the author. The facts and opinions appearing in the article do not reflect the views of NirrtiGo and NirrtiGo does not assume any responsibility or liability for the same.

Transformation of Electronic city into the realty city

Electronics city is a hub of IT companies based in the Anekal taluk area of the Bangalore Urban District. It houses some of the most renowned companies of India like Wipro, Infosys, iGate etc. With Infosys purchasing Rs. 65 Crore worth of land from HP, the property scenario in the Electronics City area of South Bangalore has grown substantially.

Bangalore, which is also known as the Silicon Valley of India, is the IT hub of the country. With over 10 national plus MNCs operating in Bangalore, the Southern region has seen a substantial growth in both residential and office complexes, contributing a major portion to the Bangalore real estate market.

 

Electronics City

Southern part of the city holds the maximum number of IT companies in India. The location is always counted as prime because of the hot shot names attached with it. Because of the presence of top companies like TCS, Biocon, HCL and HP etc. the property rate in this region of Bangalore ranges from moderate to high prices. Attached to the prime parts of the city through BMTC (Bangalore Metropolitan Transport Corporation) bus, the area’s connection is set to further improve after the launch of Namma Metro Phase II.

 

Property price:

The property prices in the Electronics City Bangalore are moderately priced as on December, 2015. For those who are not looking to invest in a property but are planning to reside there on rent, the prices are Rs. 7k to 11k for 1 BHK, 12k to 14k for 2BHK and 14k to 19k for 3BHK apartments

 

Demands of property investors

Property investors who are looking to invest in Bangalore are looking for following things in the city:

• 2 BHK Apartments

In Bangalore city, 2 BHK flats are on a very high demand and have identified an unmatched growth because of a rise in prices and decrease in affordability. The 2 and 3 BHK flats constitute 90 percent of the realty market and especially the 2 BHK flats noted a demand of 54 percent, which is somewhat equal to the supply in the real estate market. This has made motivated many builders of the nation to launch similar property in Bangalore.

• Studio Apartments

The concept of Studio Apartments is becoming very famous in the Electronics City area of Bangalore. The prime reason for this is the fact that the new buyers will most probably plan on relocating in the future or that they have small family sizes. It’s easier for the young professionals to pay EMI rather than paying 15k to 25k as rent every month, also it can be used for investment purposes in the future. Thus studio apartments count as being a feasible option for professionals.

 

Electronics city will turn smart

The Electronics City Industries Association (ELCIA) along with Cisco has developed a plan to make Electronics City, a Smart City. A 5-kilometre area has been noted where, over and above the parking and street lighting, other amenities, such as, water management, traffic management and security surveillance will be managed locally through information systems,intelligent sensors and the Internet to develop the quality and competence of the city amenities in the Electronics City area.

When ranged ahead of the 5-km stretch, this project will be launched as concept of a smart city next year.

Bangalore, especially South Bangalore is growing as the realty hub in India. Because of the presence of the world’s top IT companies in the locality, the prices will only increase. However, like any other investment, look for the reliability of the developer.

This is a guest post by Tripti, who has been in the writing industry for 2 years now. Her work ranges from articles on property to education and employment.

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

An analysis of the Indian luxury real estate market

Gone are the days when people compromised on residential facilities and amenities. These days, everyone wishes to have a gym or swimming pool on their residential premises. Convenience is no longer an option. It has become a compulsion to homeowners. Thankfully, the Indian real estate market has evolved from being a market obsessive about a home with a location to a new and vibrant concept of branded homes. Luxury housing concept refers to houses that are approximately 2000 sq. feet in area as the starting size of apartments. It goes onto much larger sizes depending on the category of luxury housing that the project is looking at offering. At this moment, potential buyers are checking out luxury villas for sale in Bangalore, Hyderabad, and Chennai. Today, luxury homes are the fastest growing segment of residential housing. Studies reveal that to cater to this growth in demand, India would require 1.5 million luxury homes over the next 15 years.

• How has globalization contributed to the development of luxury real estate?

In the last decade, rapid globalization has paved the way for employment opportunities. Due to this, income earned on the executive level is significantly high. Individuals from this segment are exposed to world-class amenities, are well-read, well-traveled, and thus, have an idea of what they want as a reflection of their taste and lifestyle. It has acted as a catalyst and paved the way for real estate developers to earn high-incentives while simultaneously catering to the housing needs of the uber wealthy of the city. These are the ones who are happy to pay for a luxurious property that would be an indicator of their social and financial standing.

Indian real estate market has witnessed a surge in the sale of properties due to an emerging concept of owning more than one luxury property by the upper segments of society. Investment in premium properties further diversifies the assets of an individual and is primarily motivated by a variety of reasons that range towards a passionate inclination or even investment purposes.

• Factors that draw potential buyers towards luxurious segment

There are multiple factors that a customer keeps in mind before investing in luxurious properties. Apartments and villas in Devanahalli, Bangalore, and other locations of South India are widely in demand. The location is stated to be the prime factor. Outstanding infrastructure, the status of people living in the vicinity, trouble-free access to nearby locations, etc. play a crucial role. Properties that are situated near golf courses, beaches, mountain tops are all time favorite developments. Research indicates that top locations in luxury segments in India are like ones that have an inclination towards environment-friendly projects. A vast number of individuals are demanding homes that would have less impact or no impact on the Eco-system. Green Homes make use of Eco-friendly/recycled materials for construction, use of solar energy and bio-gas plants, have more windows to allow natural light. These are some features that are considered while making a purchase.

• What is the future of luxury residential real estate in India?

Major steps are being taken towards the creation of intelligent living spaces. The use of high-tech built-in features that allow you to lock-unlock doors, air-conditioners, turn on the lights, etc., with a click of your phone, high-speed elevators and security systems such as limited access cards always makes a mark. Builders are even collaborating with international designers and brands to create a statement. Currently, the luxury real estate market is going through a slowdown due to an oversupply situation. NRIs are skeptical about the investment in this sector due to global economic downturn.

Ultimately, a smart buyer knows that it would make sense to use, this time, as the property prices are at an all-time-low, and would rise in the long run.

This is a guest post by Deepak Yewle

Filipinos, Foreigners and Former-Filipinos: Process of having a Home in the Philippines

Having your own real estate in the Philippines is nice to hear. There are many beautiful places to go. Beaches like Boracay in Aklan, waterfalls like Pagsanjan falls in Laguna, and big shopping malls. If you are a foreigner, you will like the people here in the Philippines because of their warm hospitality. Having a home in this country is quite difficult, especially if you’re a foreigner. You must undergo processes to have one.

For Filipinos, owning or having a home by themselves is not quite easy. Finding a place that suites your taste, finding a place that is near in the places you want to go, and finding a perfect home for your family. But don’t worry, there are people who can help you, they are called Real Estate Brokers. Brokers will help you find your perfect home and place. Their responsibility is to offer you a development that’s probably close enough to your dream house.

For foreigners, you own a building, but not the piece of land where the building is put on. So you can rent the land for 25 years* (which should be enough) and build a house on it which you own.You can purchase a unit in condominium buildings or high-rise apartment as long as foreign ownership will not exceed to 40 percent in a single project. But if you are keen on purchasing your own land, there are options:

• If you are married to a Filipino citizen, you can buy land but the title will be provided in his/her spouse name, but if in event of death or separation, the land remains to the Filipinos and will be given to his/her heirs (siblings or families)

• Another option to acquire land is through corporation. And only 40% in corporation is foreign-owned and the 60% is to the Filipinos. The land can be leased by the foreigner on a long term contract for an initial 50 year period and renewable every 25 years.

• If you are a retired foreigner, you can own a business and property by the use of the visa called the Special Resident Retirement Visa (SRRV). This visa cost $1500 for application and $400 a year to renew it. You just have to deposit money in a local bank account with the amount of $10,000 and $50,000. The exact amount depends on your age and your pension status.

For Former-Filipinos, same as the natural Filipinos, the process of owning or having a home is the same. Former-Filipinos are natural born Filipinos that are naturalized citizens in different foreign countries. If a former-Filipino who avails Dual Citizenship Law can buy as much land as any other Filipino Citizens. If a Former-Filipino does not avail, they can still own land but it is limited.

For Residential Use

• Only up to 1,000 square meters of residential land.
• Only up to one (1) hectare of agricultural of farm land.

For Business / Commercial Use

• Only up to 5,000 square meters of urban land.
• Only up to three (3) hectares of rural land.

   
Ergo, owning or having a land in Philippines is not a joke. You must know the law and the processes and have to follow it for your own good. Don't get easily discouraged just because the process of having a home or land is quite hard because in the long run, it is really worth it. You have to be patient, and respect the country. Good day, and Happy Living and have a good life!

This is a guest post by Sam Lemuel Mabatid from Philippines

Emerging Trend of Affordable Luxury Housing

~ win- win situation for all

Fast emerging HNI segment in Delhi NCR has boosted strong demand for luxury homes, so much so that this segment has surpassed all expectations. Due to high disposable income and greater aspirations, HNI buyers naturally want to lead a better standard of life and hence the demand for quality dwellings has witnessed considerable upsurge. Even to meet their expectations, a large number of developers have also ventured into this segment, resulting into a massive upsurge of luxury housing projects around the capital.

However, not every project is compatible to provide the truly desired luxury and most of the so called luxury projects are nothing, but demonstration of basic luxury features and amenities. To fulfill the actual demand of the buyers and in order to provide similar facilities and amenities ‘affordable luxury’ is another growing segment. In this segment a strong demand has been witnessed over the years which have created a win-win situation for everyone. In other words, the concept of luxury homes in India is striving hard to have relevance to a wider cross-section of the population.

Resultant, the affordable luxury homes segment is fulfilling all the expectations in the integrated township format. Luxury living projects though involve larger spaces and the provision of exclusive features such as individual swimming pools, reserved parking and smart interiors, affordable luxury projects on the other hand, offer all these facilities, but in compact format.  In addition affordable luxury homes located in such a setting also bring with them the matchless benefits of integrated township living for the home-buyers.

Such projects are helpful for the middle income group in realizing their dream of improving their lifestyle. Affordable luxury projects have successfully captured the larger market by providing the home buyers actually what they truly want rather than what artificially created standards of luxury offers.

In simple terms affordable luxury project are developed in such a manner that these remain in the financial reach of a much larger audience. The whole aim of developing such projects is centered around a distinct luxury flavor and experience without pricing the project out of the pocket of the mid-income segment of buyers. Affordable luxury projects are thus conceived and designed to meet the aspirations of middle-income buyers and so the developer has to upgrade the projects to a superior lifestyle without increasing their financial burden.

However, looking at the current real estate development scenario and the inspirational level of the home buyers, affordable luxury market segment is a good investment option.

This is a guest post by Aman Nagar, Director-Paras Buildtech

 

Apartment Related Compliances a Real Estate Salesman must know

Though almost every Real Estate Development company has a separate Compliance officer, to take care of various compliance, but Real Estate Salesman should also be aware of various Unit/Flat related compliance as he is the first point of contact between the company and the Customer. Since he is meeting the customer, therefore, generally the compliance officer will get the compliance completed through him and also have various documents delivered to client through him.

Hence, Real estate salesman's knowledge of compliance is very critical.

• Booking Amount: 

When he receives booking amount , client is given a code in company’s system and under that code he should ensure that Client’s file is started. A receipt should be issued to client for the Booking Amount received and that receipt contains information like Client’s Name, His Father & Mother’s Names, His Contact Address, His Permanent Address, Details of Nominee like Name, Relation and preferably Nominee’s Signatures also, Details of Payment Received: Cheque/DD No. (If Cheque/DD) or Cash, Date, Amount, Unit Number (Here he is temporarily allotted a Unit Number also).

• Booking Documents

Along with booking amount salesman must take following documents so as to complete the booking documents set:

1. Booking/Registration Form along with booking terms & conditions completely filled & signed by client.
2. Price List, with the price at which he is purchasing circled & signed by client. However, if client is buying at a price other than printed, in that case that price should be handwritten on Price List, circled & signed.
3. Payment Plan: A company may have different payment plans, so the one applicable to this deal should be attached along with & signed.

Once this is done, he is through with the booking process and move on to the next steps of the process. Here one thing very important to mention is that every payment he receives from customer should be by adding 3.50% Service Tax. And this has to be religiously deposited to government at the end of month.

• Allotment Installment

Now the 2nd installment is called the “Allotment Installment”. Here again a routine receipt for payment received in issued. But what is more important is that, at this stage Buyer-Builder Agreement is signed between client & developer. Two completely filled copies of the same should be given to client for signing. Under no condition, should it be first signed by a representative of company. Client signs both the copies, and attaches his KYC documents along with it and returns it back to company.

Then Authorized person of company signs both the sets, after which one copy goes to Client & other to his file.

P.S.: Each & Every paper entering client file should be signed by Client

• Due Payment Intimation

Whenever a customer’s payment becomes due as per the Payment Schedule he has chosen , compliance officer , may be with the assistance of his team, sends him an intimation.
After the intimation has been sent by compliance officer, salesman should follow with client as well concerned channel partner to get the payment within due time.

• Cancellation Of Booking

If the payment doesn’t come even after the passage of 90 Days (Again varies from company to company), then a cancellation letter should be sent to customer through Registered/Speed Post.
Salesman should also intimate this to client as well concerned channel partner.

• Transfer Cases

Many a times clients will like to transfer their property in someone else name. For that, salesman should have a properly worded & vetted by a Lawyer Transfer Set. This Transfer Set on a Stamp Paper of Rs. 100 should be filled & signed by both Transferor & Transferee. Both will attach their KYC documents along with & get it notarized. On submission of this, Transferor will have no rights over this property.

• Cancellation

During the process many persons will like to get the unit cancelled also due to some reason or the other. For this also salesman should have a properly worded & vetted by an advocate cancellation set. Any person willing to cancel a unit will fill it on a stamp paper of Rs. 100. Then after submission of the same, salesman should release him the payment as per company’s policy.

Cancellation will be complete once that person has refund amount in his account after which he will have no right over the said property.


This is a guest post by G S Bedi

Why Is Bangalore The Top Destination For Real Estate Development In India?

Anyone living in Bangalore will always talk about how amazing the city is. And it is no secret that it is a highly favored real estate market as well. So what is it that makes Bangalore click so? Let’s take a look at some of the reasons that people love to put their money in Bangalore real estate.

• Work Opportunities

Bangalore is the IT hub of India. But moreover, it is the most favored location for companies to set up their head offices whether Indian or international. Bangalore has also seen a spike in the number of new age start-ups that have found their footing in the booming Bangalore market. Many young cosmopolitans are opting to relocate to Bangalore due to the varied job opportunities it offers.

• Favorable Climate

Bangalore is one of the best cities in India, climate-wise. With cold winters, sunny summers and beautiful monsoons, the climate here is pleasant all year round. After the sweltering heat of Mumbai and the extreme climate fluctuations of Delhi, the weather in Bangalore comes as a welcome change.

• Social Infrastructure

Bangalore boasts of a high standard of living. Social and professional lives have equal importance and the people of Bangalore are very fond of their recreational activity options. It is an extremely contemporary city and caters to people from all walks of life. So whether one wants to spend the weekend shopping till they empty their pockets or by soaking in some art and cultural entertainment, Bangalore has it all. With plenty of shopping malls, multiplexes, art galleries, performance art theatres and innumerable restaurants and eateries, every social need is fulfilled in this beautiful city.

• Varied Real Estate

Bangalore is not short of options when it comes to real estate. Whether you are looking for a luxury villa, a penthouse, a studio apartment or just a midsized 2 BHK flat, the variety in Bangalore real estate has something for everyone. With multiple construction companies in the city, innumerable projects sprout up every few months across price segments and cater to the needs of the diverse population of Bangalore.

• Civic Infrastructure

Bangalore has very well developed civic infrastructure to make the lives of every citizen much easier. With excellent roads, flyovers, metro lines and top notch public transport services, connectivity and accessibility are never a problem in the city. You can get from point A to point B without any hassles and worries. Along with this there is ample water and power supply that satisfies the need of the population.

• Steady Appreciation

Bangalore real estate has seen a steady growth in prices over the last couple of years. The return on investment is also high which makes it a favorable market for those wishing to purchase a home. And with the booming real estate market, the demand for properties in Bangalore is rising like never before which ensures the profitability of a purchase.

All in all, it seems like Bangalore deserves to be rank 1 when it comes to real estate. With all these favorable conditions packed together, it’s no wonder that so many people want to set up camp here.



This is a guest post by Naresh who is working with CommonFloor as content writer.

Aamir, Shahrukh and others, just another piece of musical instruments in a song composed and conceived by Media

By: Sachin Gupta | Twitter Follow @sach_gupta

Media has done it again.
Media has composed a song again

A song titled ‘intolerance’. People only know the title of the song and not the lyrics. But the song is so well conceived and composed by media that everyone is humming it. Humming it without even knowing the lyrics. Media has organized a great orchestra and musical instruments to compose this song titled ‘intolerance’.

Media has done it again.
Media has composed a song again.

Orchestra party includes who’s who of big political parties, Bollywood stars, writers, scientists, scholars, and great public acting as the chorus on social media.

Media has done it again.
Media has composed a song again.

Everyone is humming the song titled ‘intolerance’. It’s a blockbuster. It’s topping the charts. It’s everywhere from drawing rooms to office canteens, from sports grounds to club houses, from institutes to recreational grounds. Everyone loves the tune. Everyone is dancing. It’s even being played in discos. Everyone is loving this new song titled ‘intolerance’.

Media has done it again.
Media has composed a new song again.

Media did not care to put the lyrics in front of everyone because had they done so, the song would not have become a massive hit. They just brought out the lyrics when song has become the frenzy of the nation. What a calculated master stroke by Media.

Media has done it again.
Media has composed a song again.

So, where are the lyrics (facts) of the song called ‘intolerant’? Here are the lyrics (facts). Picture attached*

Source: MHA (Ministry of Home Affairs)


In many other instances too, media has composed the songs without revealing the lyrics. And when song becomes a massive hit they secretly reveal the lyrics. But before that, round table debates are organized 24x7. The torch bearers of media instigate people to take up sides. One versus the other. Gang war happens on Twitter.

Aamir Khan and Shahrukh just happen to fall in the trap of media and became the part of orchestra and joined the song. When song is being continuously played day in and day out, how can any sensitive person keep out of it…no way. They also ended up becoming ‘flute’ and ‘drums’ in the song called “intolerance” conceived and composed by media. The song reached a crescendo status. Yes, that’s what media wanted. Blockbuster hit, anything less would have been a dampener.

24X7 TV channels are mushrooming...how else would they survive? So called ‘5 stars’ journalists are the toast of the town, why wouldn’t they compose a song every now and then?

Non existential and irrelevant politicians such as Sangeet Som, Mani Shankar Aiyar, Adityanath, Azam Khan, Salman Kursheed, Arvind Kejriwal, and many others of the same tribe jump in the song and play their part. Mike and camera are put in front of them. One plays harmonium, one plays guitar, another one plays saxophone…..all of them do their bit by taking this side or that side based on their political affiliations.

And of course, people are humming it too on social media thereby acting as chorus.

Everyone is now involved and everyone is now humming the great song “intolerant” conceived and composed by media.

Media has done it again.
Media has composed a song again.

Want to Buy Real Estate? Consider the Top Real Estate Companies in Delhi NCR

Whether you are willing to buy a residential or commercial property in Delhi NCR, you need to be very cautious. Some real estate companies in Delhi NCR are developing projects, both commercial and residential, owing to the rising demand for ownership as well as rental properties. But remember, investing in real estate means you’ll be putting a huge portion of your hard earned money into it, so you need to consider some factors before finalizing the property you want to buy.

You should buy properties that enhance your quality of living along with fulfilling your home-ownership dreams. To make sure that you invest your money in the right property, here are some factors that you need to consider:

1. Find a Registered Real Estate Developer

This is the most important factor while choosing a real estate property in Delhi NCR. There are many instances where buyers have invested in real estate properties that have never materialized. Many people who invested in properties almost five years back still did not get possession of their properties.
So if you want to invest safely, you should always look for registered real estate developers who work according to a certain code of conduct.

2. Work with Reputed Builders

This is another important aspect when looking for top real estate companies in Delhi NCR. Always carry out background checks of the real estate developer you are willing to work with. Refrain from working with developers who have been involved in various legal issues.

3. Location

Location of a property, whether commercial or residential, is very important. If you are willing to buy 3 BHK spacious apartments Gurgaon, make sure it is located close to hospitals, schools and work area. If you are willing to buy commercial property, make sure it is located close to the city center and the main transportation points.

4. Check the Exact Carpet Area, Amenities and Facilities Offered

Most of the real estate developers would quote prices based on the total area of an apartment, but you should insist on paying the price depending upon the exact carpet area. Apart from the carpet area, you should consider the amenities and facilities offered. Check whether there are 24hour water and electric supply, ample parking space, generator backup, etc.

5. Registration Fees

Apart from the actual price of the property, you will also have to pay registration fees, which depends on the value of the property. So, the registration fee for a 3 BHK spacious apartment Gurgaon will be more than that of a 2 BHK apartment.

A Final Thought

Buying property is one of the biggest investments in one’s life, so you should be extra cautious so that you don’t get conned. Always work with top real estate companies in Delhi NCR who are registered with some real estate organization or the government. The right decision will bring back a lot of benefits while a small mistake can make you repent for the entire lifetime.

Summary: Buying a property is one of the biggest decisions that you make in your lifetime, so to get the best deal it is necessary that you work with the top real estate companies in Delhi NCR and invest in the right kind of property.






This is a guest post by Amelia Hill

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.

India’s economic growth to improve despite unfavorable global winds

With the fluctuations in the economy of India, investors are playing it safe and choosing to invest carefully. According to the finance minister of India, Arun Jaitley, due to the continuing reforms, India’s financial growth will skyrocket higher than last year 7.3 percent despite global challenges. Since years now, India has always been in the spotlight for its economic growth and its impact on the real estate segment. Researchers claim that among the different metropolitan cities and residential areas of India, the apartments and villas in Devanahalli, Bangalore, have witnessed significant demand by potential buyers and real estate investors.

• Changes in Indian economic scenario

As the nation has the potential to be the bright spot in the gloomy world economic scenario, foreign investors are lured with the relaxed and hassle-free conditions of doing business in India. The private sector investments have been slow, and a high cost of capital was also affecting several other factors. Local companies, which were working with some constraints in the wake of global demand slowdown and a plethora of capabilities, were capable of overcoming those challenges. Today the financial situation in the country is no longer acute as it used to be earlier. The fiscal deficit is dropping down while the inflation is under control. A keen understanding of competitive federalism is driving the Indian growth story as the states are all aggressively seeking investment. The ease of doing business is still said to be work in progress. Significant advancement has been witnessed, and a lot of improvements need to be done on a continuous basis. The cost of capital is high and its impact on infrastructure, real estate sector, and manufacturing, which is an essential engine of growth in India, is currently felt.

• Attracting foreign investors to invest in India

On seeing India’s growth story, international investors with a collective asset under management of $10 trillion have been advised to invest in infrastructure, manufacturing, and other sectors that have funding needs. It is considered that international investment is going to be an exceptional source of resource for India as the government is working on a slew of reforms. It includes a new law to ensure disputes are settled through arbitration within six months.

• How real estate in India is affected by the dynamic nature of India economy

In India, housing plays a critical factor from affordable accommodations to infrastructure and generation of employment. The residential segment comprising of building, townships, colleges, hospitals, and other projects make the maximum contribution in real estate industry and commands a large part of its market share. The overall health of the economy plays a key factor that directly affects the value of real estate. The GDP, manufacturing activity, prices of goods, employment data and few other indicators measure the health of the economy. The size and scale of the property market make it an attractive and lucrative avenue for investors. Due to the low capital requirements, low transaction costs, and high liquidity available in the market, the average investor prefers to invest indirectly in real estate. It has been observed that the south Indian cities have become a hotspot for real estate investment. Be it for residential purposes or as second home, cities such as Hyderabad, Chennai, and Bangalore are often chosen by potential investors. Buying apartments and villas in Devanahalli or Bannerghatta is more than just luxury.

 

With foreign investors organizing investment summits in their states and finding a resolution of long-pending tax disputes, the nation is well on its way to overcoming economic hiccups and finding financial stability.

 

 

This is a guest post by Surendra Hiranandani, Founder and Managing Director, House of Hiranandani

Office space on golf course road Gurgaon

Gurgaon has become the epicenter of commercial office space leasing in Delhi NCR region. For large established companies as well as for start-ups, Gurgaon is the preferred choice when it comes to renting the office space. Many factors including the presence of quality infrastructure (national highways), close proximity to airport, and presence of quality housing make Gurgaon the hot commercial destination.

Within Gurgaon, Golf course road has become the most sought after location for many large and start-up enterprises. Golf course road is well connected to NH-8 and Delhi via MG Road. With the completion of rapid metro, gold course road will further enhance its value as one of the most premium office address in entire Delhi NCR region.

Companies looking to lease office space on Golf course road in Gurgaon can choose from the following 2 options:

1. Lease required office space area and then set it up including the fit-outs, furniture, lighting, ducting, HVAC. Thereafter, maintain and manage the office space facility.
2. Lease office space area and start working from day 1. No fit-outs required; no electricity bill; no internet bill; no water charges; and no maintenance charges. Thereby, a company can save upfront capital expenditures which can run into crores of rupees.

Find below the detailed document highlighting the benefits of office space defined in option 2. At the same time, one can inquire about the availability of such a office space on Golf course road in Gurgaon.

Commercial furnished office space in golf course road gurgaon from Green Realtech Projects Pvt. Ltd

What is Employer Assisted Housing (EAH) benefits plan? How does it help employers?

What is an Employer Assisted Housing (EAH) Plan?

In today’s time when “war for talent” is getting fiercer by the day, employee retention has become the buzz word among various HR leaders across different industry sectors. Rising attrition rates and high turnover costs creates a negative impact on companies’ bottom-line. In such a scenario, Employee benefits plans play a critical role in employee retention.

One such employee retention tool that is gaining popularity worldwide is Employer Assisted Housing (EAH). Research across the world has shown that Employer Assisted Housing (EAH) helps in overcoming the challenges of rising attrition rate and high turnover costs. EAH Plans are gaining in popularity worldwide because they make an employer stand out from the crowd, enhance recruitment efforts, reduce turnover costs, improve employee loyalty towards the employer, and can have a positive impact on the bottom-line.


Typical functions within an HR department of a company and need for focus on benefits program:

Organizational & employee development, business leadership, consulting, compensation are the priority issues in an organization. However, at the same time employee benefits program with regards to employee relocation, work life balance, family issues, and expatriate management are gaining importance in most successful companies worldwide. And fulfilling housing requirements of employees goes a long way in handling these issues.

Losing key employees to completion can be disastrous for a company. With an EAH service, employers can realize a financial gain for their company by retaining valuable employees. At the same time, employers help their employees achieve the dream of home-ownership. EAH services are simple to administer, and can help an employer recruit and retain valuable employees, thus creating a positive impact on the company’s bottom-line.


Why Employer Assisted Housing (EAH), what are the benefits?

A. For Employers

1. Recruitment – sets your company apart in attracting the best talent
2. Retention – Motivates employees to stay
3. Reduced time for commuting – employees can be encouraged to live closer to work place
4. Relationships – stronger customer relationships with highly motivated employees
5. Return – company’s financial statements can be strengthened
6. Recognition – enhances company’s reputation as the employer to work for
7. Reduced Cost of homes – employees gets homes at comparatively lower costs
8. Revitalization – more disposable income of employees help revitalize the economy and neighborhoods 

B. For Employees

1. Realization of dream of home-ownership
2. Enhanced lifestyle associated with home-ownership, such as greater community, recreational, and school involvement and quality of life
3. Less time spent in traffic
4. Investment in a property with potential for appreciation
5. Reduced cost of homes
6. Security of availing home with predefined quality standards and on time delivery

How much does it actually cost to offer and administer an EAH service?

EAH creates a win/win/win situation among employees, employers, and the economy as a whole. A typical EAH service requires employers to identify the target segment of employees from the ranks of executive, middle management, entry level, and skilled workers. While there can be in-numerous benefits of EAH service as explained earlier, there are no direct costs to employers for arranging for an EAH service. However HR department need to collect all the relevant data such as targeted employees, size, budget, location preferences, etc.

Typical Employer Assisted Housing (EAH) Benefits that can be offered to employees:

Detailed Presentation:

For implementing Employer Assisted Housing Plans in your organization contact us at:
Email: nirrtigo@nirrtigo.com
Phone: +91 9971889899, 9971884499

Employer Housing assistance plans for corporate employees from Green Realtech Projects Pvt. Ltd

Top investments destination in Mumbai MMR- January - June 2015

Mumbai property prices are among the highest in the country.  Slow property sales and inflated pricing has led to buyers postponing their property buying decision considerably resulting in an inventory pile-up of 46 months.

IndiaProperty.com has analysed data across localities in Mumbai to arrive at the top localities favored by home buyers in the city. The data identifies the top investment destinations across the Mumbai region. In-depth analysis has been done for one locality from three different regions across the city, providing information on the various home buying influential criteria such as demand, budget preference, price trends and preferred residential property formats. A similar study has been done for other cities namely – Delhi NCR, Bangalore, Hyderabad and Chennai.

Attached and appended below are highlights of the study by IndiaProperty.com specific to the Mumbai region:

• During the first half of 2015 the government has initiated a number of infrastructure projects that will drive sales across Mumbai region like the Coastal Road Project from Nariman Point to Kandivali, clearance of Navi Mumbai Airport
• The top investment destination across Mumbai include Panvel, Kalyan, Nalasopara, Kharghar, Mira Road, Dombivli, Kamothe, Ulwe and Sanpada
• The Maharashtra Government plans to develop Mumbai as a gaming and animation industry hub – leading to job creation and investment opportunities thereby increasing the demand for residential and commercial units
• An additional 200% FSI (Floor Space Index) for IT parks thereby reducing the rentals for commercial properties

Looking at one locality from three different regions across the city:

Panvel:

1. 76% home buyers prefer investing in properties that are in under construction phase
2. Budget preferences ranges between 0-30 lakhs for 71% of home buyers 
3. The approval of elevated railway line from CST to Panvel with a 6 lane road will reduce the commute time. Thus, increasing demand in this locality

Kalyan:

• 1BHK compact housing unit is the preferred choice by 71% home buyers 
• Statistics indicate rise in property price by  12% in the last 2 years
• MMRDA has planned a 29km Kalyan Ring Road to connect Kalyan and its neighbouring localities. Thus, increasing demand in this locality

Nalasopara:

• Budget preferences ranges between 0-30 lakhs for 91% of home buyers 
• 1BHK compact housing unit is the preferred choice by 78% home buyers 
• The area is well planned and developed by CIDCO and provides better infrastructure for its residents. Thus, increasing demand in this locality

Detailed analyses are in the info-graphic appended below.

Top investments destination in mumbai mmr jan-jun15 from Green Realtech Projects Pvt. Ltd