10 Steps For Ideal Investment In Real Estate

Making money in real estate is no easier than it is in the stock market. It requires a lot of work, patience, and in some cases a lot of luck. It is one of the most profitable investments in the world. 

Real estate investment is the one business that pays off big time. You need a lot of cash to invest in real estate but even if you do not have the cash at the moment, the below steps will teach you how to get into the real estate business.

1. To develop the real estate investment mindset. (i.e. You need to have it at the back of your mind that you will be a property owner someday and once you have made this affirmation, you can start working towards your dream home)  
2. Find an architect to sketch the building you have in your mind.
3. Frame the sketch and look at it every day (this motivates you to start thinking of how you can actualize your dream)
4. Save a part of your income every month and keep this money in a special account.
5. As soon as you have enough cash to buy a plot of land, do so. (It does not matter if the plot is not in the best part of town.)
6. Depending on the location of the land you have bought, you can set up a poultry farm on the plot. (You can also fence the plot and use it as a vegetable garden)
7. When you get enough money, you can build your first house. (Do not move into this house immediately)
8. Get tenants into the house and start collecting rent on the property. (Now you have a new security so talk to your bankers)
9. Put up the house as security and get a loan to build another house.
10. After you pay off the loan on the second house, put up both houses as collateral and build two more houses.

As you can see, the process is not rocket science and you can make money in real estate investment. You can also become a property mogul in the process and the big money will continue to roll in for life.

Priyanka Chopra Invests Bungalow in Versova For 100 Crore?

Leading Bollywood actress Priyanka Chopra has a desire to buy luxury bungalow, Dariya Mahal in Mumbai city which is worth Rs. 100 crore.

The latest craze that has taken Priyanka Chopra’s heart, mind and soul is a swanky beach front bungalow in Versova, Mumbai. The luxurious bungalow, known as Dariya Mahal, is the last among seven lavish properties located in a peaceful street in Versova. Interestingly, all of the properties in the street boast of vintage architecture.

The property is usually rented out to Bollywood filmmakers for shooting. The luxurious bungalow belongs to textile merchant Maneklala Chunilal Chinai and was built in 1930s by British architect Claude Batley. After his death, the bungalow was transferred to his successor and it is reported that Priyanka has already sealed the deal.

 

Dariya Mahal, Mumbai

The luxurious bungalow has 15 bedrooms and has more privacy than Piggy Chops Lokhandwala flat where she is staying.

For a long time, Priyanka wants to buy a property in Mumbai and it seems her desire comes true.

Source:Property Beats 

Maharashtra Government Plans To Acquire Ambedkar's London Property

The Maharashtra government has showed interest to acquire a residential property in London where Dr. B R Ambedkar lived while studying at the London School of Economics in 1921-22.  The government is waiting for the centre to give permission to buy out the 2050 square feet property on King Henry’s Road, London. It is expected to cost an estimate of Rs 40 crore. The state government stepped in with its proposal to buy the property after it came to know earlier this month that it has been put up for auction. 

However, Ambedkar's grandson, Prakash Ambedkar expressed his reservations at the state government's proposal to buy out the London property. “Since we are his legal heirs, the government should first consult us in the matter," the Dalit leader and chief of Bharipa Bahujan Mahasangh (BBM) told media persons.

The Maharashtra government decided to buy the house after it learned of the sale proposal and initiated the matter with the central government and the British Deputy High Commission in Mumbai as it involves buying out property in a foreign country."

A rare and timely opportunity has arisen to purchase the former London residence of Dr. Babasaheb Ambedkar as the landlord has published an advertisement for the sale of the house. It is a historic place where Dr. B. R. Ambedkar lived in 1921-22," Water Conservation Minister Nitin Raut said in his letter to Chief Minister Prithviraj Chavan Sep 3.

A prominent Dalit leader, Raut said that the Federation of Ambedkarites and Buddhist Organisation (FBO) in Britain and other prominent individuals also wrote to the Indian governmentand Maharashtra informing them about the upcoming auction of the property. "Various Ambedkarite organizations, with whom I associated, also approached me and request for help to acquire the property with the intervention of the Indian authorities," Raut told IANS.

Chavan, Deputy Chief Minister Ajit Pawar and other state leaders also endorsed the idea since Maharashtra is considered the "karmabhoomi" of Ambedkar.

 Raut said it was not a question of owning the property, but a symbolic gesture to salvage the historic house and retain its significance for future generations and strengthening India-Britain ties. He pointed out that finances would not be a constraint as it would require spending only around 40 crore for a noble cause.

Image source - web

Mumbai Recorded The World's Least Expensive City To Live And Work: Report

According to the recent real estate analysis, Mumbai has been emerged as the world's least expensive city to live and work in.

British capital London has overtaken Hong Kong as the most expensive city to rent living and working space, UK real estate major Savills said in its findings based on research in the world's top 12 financial hubs.

London's overall real estate costs grew in US dollar terms by an annualized rate of 10.6 percent in the first six months of the year, making it "the world's most expensive city for companies to locate employees."

The annual cost per employee in London was put at USD 1, 20,568, with Mumbai at the bottom of the table at USD 29,742.

Hong Kong is now at USD 1, 15,717 and New York and Paris are in third and fourth place with USD 1, 07,782 and USD 1, 05,550 respectively.

Sydney came eighth at USD 63,630, Shanghai 10th at USD 43,171 and Rio 11th at USD 32,179.

"Despite its climb in the rankings from fifth to first place since 2008, London is still a way off the live/work accommodation costs record, set by Hong Kong in 2011 at USD 128,000 a year," Savills said, adding that Hong Kong was still "by far the most expensive city" in which to buy residential property, with prices 40 percent higher than London although the gap was narrowing.

"Comparatively affordable" Rio and Sydney had seen significant increases in live/work costs since 2008? Up 85 percent and 58 percent respectively but Savills said Rio still looked "highly competitive".

Yolande Barnes, the company's director of world research, said: "This year has seen much more modest real estate price growth in nearly all our world cities, and some have shown small falls.

"We expect this subdued trend to continue as investor interest and market activity shifts to second-tier cities.

News source – Zee News

5 most lavish house in india

Luxury homes are always associated with the rich and famous. The elegant homes of the celebrities take a unique place in our everyday life- Our dreams. These homes will have all the word-class amenities about which one can only dream off. Celebrities spend millions (only god know how much) on luxury apartments and high end mansions in order to call them as their home. The best of best comes to reality in these spots starting from exclusive architecture, exclusive internal designs, exclusive amenities, exclusive landscape and the exclusives goes on. Here is the list of top 5 most expensive celebrity homes in India.

Antilia

Worth: INR 12,460 crore

Owned by: Mukesh Ambani

Antilia has the recognition of being tagged as the most expensive home in the world. Designed by Chicago based architects named Wills and Perkins, Antilia is a 27 floored spread across 400,000 square feet and 170 meter tall palace belonging to Mukesh Ambani, the richest man in India. He has defined the skyline of Mumbai through his home. Strategically located on the Altamond road of South Mumbai, Antilia is home for just 5 of the family members. Isn’t it an apt place for a Hide & Seek game?

Anil Ambani’s Abode

Worth: INR 5000 crore

Owned by: Anil Ambani

Anil Ambani, the younger brother is on par with the elder one with his home at Bandra-Pali Hill locality in Mumbai. This 17,000 square feet home, still under construction, is scaling up to a height of 66 meters is also one in the list of most expensive homes in India. Though it was initially planned to stage a height of 150 meters, it was later withdrawn due to the residents’ opposition. Undoubtedly, it has all the world-class amenities.

Kingfisher Towers

Worth: INR 24 crore per condo

Owner: Vijay Mallya

It has always been good times for Vijay Mallya even if Kingfisher airlines have faced a serious phase. The Kingfisher towers-UB city, under construction on the Vittal Mallya Road, Bangalore will be the new address of Vijay Mallya. The ancestral property worth 4.5 acres has been brought down to build this 34 storied luxury bungalow. To be more specific, the penthouse on the 33^rd and 34^th for that is spread across 1 acre with 3 blocks is the place where Mallya stays. It is also tagged as the ‘White House in the sky’.

JK House

Owned by: Gautam Singhania, Raymonds Group
Mumbai skyline is going to be populated by JK House after Ambani’s Antilia. Just a mile from Antilia, Gautam Singhania’s residence is located in South Mumbai’s Breach Candy locality. It is proposed to be constructed to a height of 145 meters consisting of 37 floors standing out to be an apt competition to Antilia.

Owned by: Ratan Tata

Ratan Tata, the man of immense style and class has his mansion in Colaba, Mumbai has all the world class facilities and amenities of a Billionaire’s home such as swimming pool, sun deck, gym, media room, lounge and many more. The bungalow is floored on 13, 350 square feet area with 7 levels and, obviously, falls under the expensive and exquisite homes in India

Promoting Housing For All In Mumbai

Mumbai and MMR have been facing acute shortage of quality affordable housing since a long time. In order to find a solution, MCHI- CREDAI had signed an MOU with the Government of Maharashtra in April 2010. By way of this MOU, MCHI CREDAI had pledged to maximize the construction of more affordable homes in Mumbai and MMR.

The body is hoping to renew this MOU in February. Mr. Vimal Shah, President, MCHI -CREDAI, said, “We look forward to renewing this MOU which is coming to an end in February, 2015, and move ahead with our plan for building affordable housing for all”.The renewed MOU will stress on affordable housing, which is to provide an acceptable or affordable housing solution to a person from any income strata, which are facing affordability challenge.The body will also highlight a multi-pronged approach that’s required to simultaneously cater to different aspects of affordable housing provision.The ideal of creating affordable housing with private public partnership will also come under the focus. source - Midday

Andheri - The Most Flourished Suburb In Mumbai

Andheri is one of the largest suburbs located on the western coast of Mumbai. This suburb is quite a lively location with a well balanced mix of residential and commercial building complexes. Owing to its infrastructure, having a house in Andheri could mean commuting to work in less time and money. Reliance’s Mumbai Metro project has caused a staggering boom in buyers interested in properties in Andheri.

 The first phase of the Mumbai Metro that runs between Versova to Ghatkopar, has reduced commute time between the two places from one and a half hours to a mere 20 minutes! With important stops like Azad Nagar, Andheri Station, Chakala, Airport Road and Saki Naka to name a few, the Mumbai Metro has become a quick teleport of sorts between the east and the west. Now who wouldn’t love to own a nice quaint apartment in suburb that is so well connected?

 Even business minded folk will enjoy the fact that this suburb houses the International Airport, which means going abroad on frequent business trips shouldn’t be too much of a hassle. Simple book a cab that takes you a short 20 minute ride to the Airport and you are good to go! Alternatively, one can simply board the Mumbai Metro and get off at the Airport Road Metro Station. From there, a quick rickshaw ride wouldn’t take more than a couple of minutes and you’d be standing before the boarding gates before you know it.

 When people think about residential properties in Mumbai, owning a flat in D N Nagar is one of the first thoughts that come to mind. D N Nagar is named after Dadabhai Naoroji and is situated in the important triangle of Lokhandwala Complex, Seven Bungalows and Juhu Vile Parle Development Scheme (JVPD). This makes it a prime spot as it is easily accessible to all the important social hubs in Andheri. A lot of educational institutions are also in the vicinity, which makes it valuable to stay close to centers of learning, for families who have children pursuing higher studies in engineering and management. Jaycee Homes has a project in DN nagar called Elegance which is near the DN Nagar police station and DN Metro Station.  

Designed by a renowned architect, Elegance delivers fourteen Manhattan style of apartments, with the pride of living having a complete floor for yourself. Each residence exudes luxury and style, with personalised elevator, air conditioned apartments, regal ambience, French style casement windows, imported marble flooring, international fittings & fixtures, fully fitted modular kitchen, Intercom system and camera for screening visitors with premium finishes combining to provide you an unparalleled, world-class living experience. You have exquisite restaurants to entertainment hub at your disposal. You expect to enjoy the finest privileges in the world and that's exactly what you can command at Elegance.

What’s best for property buyers?

When you are buying or refinancing a property, you will get a good faith estimate around the time you go into a bond. The estimate will include a line item for a bond account information — also called property tax and insurance impounds.

These are monies that might be added into your monthly mortgage payments to cover property taxes and insurance. The lender may require them, or it may be an option for you.

For most people, escrowing taxes and insurance is a great way to go, especially for first-time buyers and/or buyers who are tight on funds. Since most of us do not sock away money in a separate account for property taxes and insurance, we get clobbered at property tax time. It’s much better to budget and save that money throughout the year, and escrowing these funds with the lender is a great way to force yourself to accomplish this goal.

Ultimately the choice is yours, but it sure is nice to get to property tax time and know you don’t have to come up with a large amount of cash to cover those bills. Since you’ve already saved those monies along the way, you should have a stress-free month while others are scrambling to pay the bills.

What’s driving demand for villas in Vasai

Vasai located in the western areas of Mumbai has always known as a hub for reasonable housing. With a developing populace of more than 1.2 million residents Vasai -Virar is the fifth biggest city in Maharashtra. With downtown areas becoming progressively expensive, a developing number of residents of Mumbai are moving to the suburbs, all the more particularly Vasai and Virar in the search for good quality and bigger homes at less costs.A huge area bank at less costs had additionally pulled in developers who are keen about building coordinated townships and mega buildings with lofts available to be purchased in Vasai.

Besides the progressing demand for cheap apartments in Vasai, there is likewise a developing interest for row houses and villas in Vasai.A unique factor about villas in Vasai is that within the same budget that will bring a 1 or 2 BHK house in a central region in Mumbai, a buyer can enjoy the luxurious space of a villa in Vasai.

There are many upcoming projects in the Vasai – Virar region offering both residential apartments as well as villas. These upcoming projects combined with the infrastructure development will transform Vasai from being a satellite city in to a metropolitan city in the coming years.

Vasai has also been in the news recently after a property transaction worth INR 1111 crores took place here. The 265 acre parcel of land belongs to the Sahara Group. It has been reportedly sold to Sai Rydan Realtors who bought up the property in partnership with Prime Downtown Estates, according to reports. It is considered to be one of the most expensive real estate deals to go through in the suburbs of Mumbai. A residential township is in the offing according to reports.

Instructions to discover a good tenant and safeguard your property

A good landlord need not always get a good tenant and so is the reverse. Having invested in a residential property with a view of earning rental revenue, it is imperative that you find a good tenant. There are many pitfalls here but it would be unwise to lock up the property for fear of losing it or finding it in a damaged condition, after it has been rented out.

Prudence and a bit of luck will ensure that your tenant does not give you any mental strain. After all, having invested your money, you should not carry the tension of worrying about it being a dead investment. Rental revenue is a return on investment and it helps you repay the loan, if the property is mortgaged, or to pay for the maintenance of the property. A steady rental income, after loan repayments, if any, will help you build an asset that is an insurance against any future financial turbulence in your life.

There have been many instances of landlords ruing the day they leased out their property to a tenant. To avoid falling into such traps, it is advisable to do some homework before you rent out to a prospective tenant.

First of all, you need to be clear on why you want to rent out your property. Do you want to rent out your property to repay the EMIs on your loan or do you want to earn income from it. What is the tenure of the lease that you have in mind.  Who do you want to rent out your property to: Bachelors, Single women, families (large or small), vegetarians or non-vegetarians, government staff, corporate employees or business people? Some landlords prefer tenants who are on transfer and some prefer long staying ones.

Are you looking to rent out to anyone who is willing to pay the rent you are asking, even if it is on the higher side? You could be in some trouble here. Why should someone pay you a rent higher that what is the going rent in your area. The best way to find out the rental values in your area is to physically check it out in a few properties in your area by pretending to be a prospective tenant.

Having found clarity in your intention of renting out your property, how do you go about finding a good prospective tenant? There are many ways of doing this: Newspaper ads, visiting real estate agents, hanging a ‘to let’ sign on the property or telling friends and relatives about renting out your property.

Newspaper ads and the ‘to let’ sign will get you a lot of inquiries but you will have to check each individual responder by asking some pertinent questions and satisfy yourself that have found the right tenant. You would need to do a thorough background check about the antecedents of the person and it is advisable to get references. It is also prudent to know the reason for the tenant leaving the previous residence.  In some cities, like Mumbai, a rental agreement has to be registered and also police verification needs to be done. This could take up to 10 working days but it is safer for the landlord to do so.

An experienced real estate agent will do all the leg work and that is a positive but you would need to pay his fees. At the same time you should check if the agent is reliable and is not a fly-by-night operator. Friends and relatives could also find you good tenants but you must do all the other leg work yourself and insist on background checks and police verification. Registering the document should be mandatory.

Once the documentation part is taken care of, you would need to come to an agreement on the rent, the payable date, the tenure of the agreement and the security deposit (in most cities it is ten months rent), refundable on the tenant vacating the property in good condition. Normally the tenant pays the maintenance and the electricity bill. The tenant also has to abide by certain guidelines, some of which are enforced by the building society. Keeping pets is an issue with many building societies. Loud music and wild parties are not appreciated and therefore the tenant has to be suitably advised. Parking at the allotted space has to be followed. The tenant is responsible for the proper maintenance of the interior of the property and any damage to it will be to the account of the tenant. No sub-letting is to be permitted. The property should not be used for any immoral or illegal activity. All these have to be documented in the agreement, under its various clauses and duly signed by both the tenant and the landlord, and subsequently registered. Do not give or accept any oral instructions or commitment.

It is advisable to rent out the property under the 11-month leave and license agreement. This would prevent a licensee from claiming tenancy rights. You may renew the tenure for another 11 months but under a fresh agreement. Every renewal should be a fresh agreement and the amount of increase in rent should be incorporated in the new agreement. Under no circumstances should you accept the rent after the expiry of the agreement. It is therefore, in your interest, to make timely renewal of the leave and license agreement.

Finally, a good tenant will be as good as your relationship with him. You need to understand that despite your best efforts and all the checks and balances, things may not go as per plan. But as Alexander Pope says “Hope springs eternal in the human breast.”

source : IndiaProperty

Reason Why Andheri East Is Quickly Becoming A Magnificent Property Center Point.

In search for a new luxury property in andheri east?Over the past year, Andheri placed in the western parts of Mumbai has turned into the new center point for luxury homes in Mumbai.
Andheri East grew as an industrial area in the 1980s and later developed into a commercial office destination. Today, the locale embodying Marol, Jogeshwari-Vikhroli Link Road and Chandivali cinch is seeing a rise in demand in high-end residence.
For years, south Mumbai was the hub for premium property in Mumbai, but this is fast changing. According to recent reports, the media, pharma, FMCG and SME sectors seem to be the key residential property drivers in the Andheri-Malad-Goregaon-Powai belt. With many big names such as HUL, P&G, Glenmark, Sun Pharma shifting their headquarters to the Andheri-Powai belt, there has been a sudden increase in demand for premium and marquee properties in this market. For the families, some of the best educational institutes, five star hotels, libraries, parks, banks, hospitals and recreational avenues are easily accessible, thus increasing its appeal to families.
In light of this increase in demand, numerous leading developers have started luxury private apartments in Andheri East with costs beginning at INR 1.5 crore and set up to INR 8 crore. Lodha Developers, a standout amongst the most premium realty developers in Mumbai as of late dispatched their undertaking Lodha Eternis in Andheri East. Reaching out more than 1 lac arranged square feet, this is an arranged luxury development with costs beginning at INR 1.5 crore for a 1BHK. Callista Developers additionally dispatched a boutique venture called Joy Callista in Andheri East. A portion of the other leading developers who offer premium property in Andheri East incorporate Oberoi Realty, Kanaki Space, Hubtown, Raheja Group, Sheth Creators among numerous others.
Luxury apartments in Andheri East accompany best in class comforts including digitally automated homes,completely prepared spas, reflection rooms, international shower fittings, valets and many more features. 

As per online sources, costs for property in Andheri East has climbed by about 30 percent in the course of recent years.

The hidden costs of buying a home

Buying a piece of land or a house is one of the most cherished dreams of most Indians. People often consider it as the most significant investment of their life. They are, therefore, willing to go an extra mile to acquire a decent piece of real estate.

It is also the biggest investment for most, as they stretch their financial capabilities as much as they can. In such a situation, a sudden expense can make the finances go awry.

For example, the initial cost that an agent mentions does not include a host of add-on for which the buyer has to pay, which in turn, increasing the budget by about 25 per cent.

Here are some additional expenditure that buyers incur while purchasing a house. Make sure you budget for them.

Registration Costs

It has to be kept in mind that the registration cost forms a substantial amount depending on the total worth of the property. In most states the entire legal charges in terms of stamp duty and registration fees add up about 7 % to 10% of the property cost. Typically the stamp duty is about 5% to 7% which means that if one has to buy a property worth Rs. 50,00,000/- then stamp paper worth Rs 3,60,000/- has to be purchased for typing the sale deed on it. In addition to this expenditure there is a registration fees payable to the court which amounts to 1% to 2% of the property cost. Over and above these costs, which have to be exclusively borne by the buyer there are several miscellaneous expenses like the fees of the notary and lawyers who get the job done in the court. The legal counsel assisting in verification and registration of the property also charge about 1% of the property cost which has to be taken into account while planning the budget.

Parking Space

It had been a trend over the last decade to charge an additional upfront payment for exclusive parking spaces in large residential complexes.

This amount would vary from Rs 200,000 to 500,000 depending on the type of property, locality and type of parking space provided.

This has been a cause of heartache for many buyers. Luckily after March, 2012 as per Supreme Court ruling, no additional money can be charged for parking within a residential complex.

However, most of the developers try to bypass this provision by charging an extra amount in the overall cost of the property.

Interiors Cost

After acquiring a property one has to invariably spend money on interiors. This expenditure is generally not taken into account while buying a property and you can end up spending a lot of money on it.

Though money spent on interiors may vary, buyers can budget at least 1 per cent of the property value for this.

Maintenance Deposits

Lately, developers have started charging upfront maintenance deposits for long periods, such as 10 years, instead of taking it periodically. If the buyer is taking a loan, the interest outgo will rise as the loan amount increases.

There can be several other hidden costs such as unapproved plans, unpaid civic authority dues and so on, which further aggravate the misery of the buyer unless one is financially prepared.

Adding 25 per cent of the property value to your budget will help to meet these unexpected charges that crop up last minute.

Buying a property? 3 things you must know must know!

How many documents does your developer need to clear and have in hand?

There are many documents that you will need to ensure that your developer has cleared in his files. From the 7/12 document which is the most critical document of Title and proof of rights to land revenue tax receipts, Title Deed, Stamp Duty document, Encumbrance certificate, Municipal Corporation approvals, Release Certificate from the bank, Allotment letter and the development agreement, the list is quite long. Make sure you have correct legal advice on the whole gamut of approved documents required.

Has the property cleared legal titles?

Is your builder offering a pre launch scheme where the land has still not even been given a clear NA (non agricultural) title?

You will need to make legal checks on the history of this land – whether it still holds rights or interests of any third party that could pop up after you buy the land. Always make sure that you have had look at the ownership of land papers. It will save you a lot of head-ache at later stage.

Is your property being built on reserved land?

You might think that developers would never do this. But don’t be surprised if the government comes knocking on the door of your new residence asking you to evacuate because your house has been constructed on land which was only reserved for government projects like irrigation of a site of archeological research. Ensure that the proposed land is clear of such reservations.

The do's and don'ts while investing in real estate

Investing in real estate can be an extemely tricky proposal. In many cases individuals have a tendency to put in all their investments, in addition to take loan to buy a property. This being the situation, one needs to practice compelling alert at all phases of the buy to guarantee that the money one sinks into real estate does not go to waste.

Financial Plan 

Before taking a jump and purchasing the property you have your eyes on, it is vital to get your finance in place. Set yourself a budget and make an effort not to stray far from it. Keep in mind not to burn through cash that you can't bear to spend in any case. You ought to guarantee that the EMI going out of your pocket is not more than 40% of your month to month salary.

Investigate

Since you have gotten your finances in place, it is critical for you to get your work done. A percentage of the fundamental criteria one ought to remember are: 

• Locality

• Access 

• Existing and proposed infrastucture ventures 

• Integration 

• Vicinity of social infastucture 

• Security

It is best not to put resources into far flung regions which need even the fundamental comforts, for example, streets, water supply and waste framework. Don't get influenced by guarantees of up and coming infrastructural ventures and contribute your money. 

Checking the qualifications of the developer 

The real estate is littered with developers who are upstarts and are problematic. On the off chance that you go over an offer that is unrealistic from a little time developer, it is best not to channel your well deserved money into that venture. The most ideal approach to checking the reliability of manufacturers is to take a gander at their past undertakings. This will issue you an agreeable thought on the off chance that you can believe him with your money.

Legal documents

Title deeds are the key to any property transaction. If the seller does not have a clear title deed, then do not purchase the property

• Absence of a clear and marketable title deed is a deal breaker as it will lead to legal hassles in the future

• Insist on seeing the original title deed and have it verified by your attorney before buying the property

• Ensure that all clearances related to the property are in place before you acquire the property

• If you are looking to purchase an under-construction property, get the builder to handover the allotment letter and the development agreement

• The allotment letter has details such as the price of the property, floor plan, delivery date of the project and details of the liability incurred by the builder if there is a delay in delivering the project

• The development agreement lists out the terms and conditions under which the landowner has allowed the builder to use his property

• Ensure that all the taxes related to the property you are about to purchase have been cleared before you actually buy the asset

• Whenever in doubt, it is always advisable to take expert assistance.

Delay in delivery

When you decide to purchase an under-construction property, chances are that the project may be delayed. A delay of 6 months is acceptable but anything that goes beyond a year or more is bad news for you. Picking projects which are in the pre-launch stage are considered to be very risky. To mitigate such risks, check the delivery track record of the developer and look out for projects which are in the under-construction or ready to occupy stage.

5 trends in Indian real estate to watch out for in 2015

India’s real estate sector has got an optimistic push from the new government with a timely dosage of some fresh policies that are changing the rules of the game. This has redefined the property market and today there are realty trends that are emerging all across the country.

1)  Growth of peripheral areas

All across the country, home buyers are preferring to invest in newer markets that are coming up in the peripheral areas of metros and tier II cities. With most city centres reaching their saturation point, and becoming increasingly unaffordable, for the first time home buyer, it makes more financial sense to invest in a home in the outskirts of the city.

In Mumbai for instance the Thane-Kalyan belt, extending up to Shahpur, and in the south-east, stretching beyond Navi Mumbai up to Kharghar, has witnessed increasing demand from buyers and investors.

2) Demand for plots and plotted developments

With property investments increasing in the outskirts of the cities, there is another new trend that has emerged. Most of the markets in the peripherals do not have a strong apartment culture and here residential plots and plotted developments are gaining prominence amid property buyers. Buyers prefer to buy plots with the aim of getting good returns in the future.

3)  Growing consumer interest in small units

For the first time home buyer, look for ‘starter homes’ in metros, it makes more sense to invest in a smaller houses which fall within his current budget and can be sold at some point in the future when his family as well as income grows. As a result, the demand for smaller configuration homes such as 1 BHK, 1.5 BHK and even studio apartments is growing across all metros. Until a few years back, Mumbai used to record demand for 1BHK units with south Indian cities shying away from living in small units. But this is fast changing with demand for 1BHK homes doubling over the past six months. According to a report, Bengaluru currently has over 30 upcoming projects, in various stages of construction, offering 1BHK units starting at INR 7 lakhs.

4)  Impetus on affordable housing

Affordable housing has come into the media limelight ever since the new government spoke about it in its manifesto.

Since then the government has offered tax incentives for home loans, as well as accorded the infrastructure status for affordable housing projects. Today, many realty giants such as Mahindra Lifespaces, Lodha Group, Tata Housing, and Supertech are launching affordable projects in major metro cities.

5)  Increasing focus on smart cities

To accommodate rapid urbanization, the government of India has allocated USD 1.2 billion in the fiscal year 2014-15 to build 100 new smart cities, and to develop satellite towns around existing cities. This will greatly boost the housing market with new demand being created in the small smart cities and nearby satellite towns.

source-India property

Infrastructure Announcements to Impact the Real Estate Sector in India

The goal of the budget was – to enhance the personal satisfaction and to pass advantages to normal man. To a degree the budget has succeeded in doing as such. 

Of course the budget majorly centered around development of infrastructure in the nation. However the uncertainty on the savvy city venture which was declared in the past plan proceeds with it getting no notice in the current plan. 

Allotment of INR 70,000 crores to Infrastructure division, expense free bonds for activities in rail street and watering system, revitalizing the PPP model for infrastructure advancement – are only a percentage of the considerations which will help development of foundation and consequently the realty industry in the nation. As seen in the past infrastructure projects have ended up being seeds for the developing realty industry in India as they direct lodging and business improvements towards them. 

6 crore lodging units for rustic and urban lodging by 2022 is a positive move by the administration towards satisfying its plan of lodging for all by 2022 and filling the lodging shortage in our nation. An alternate highlight was the legislature's dedication towards controlling stream of dark cash in the nation particularly in property dealings and advancing cashless exchanges. The stream of trusts through electronic exchanges will have a high effect on the realty business and would bring the tremendously required straightforwardness in our industry. 

Despite the fact that there is a proposition to support the capital increases charges for the postings of REITs in the nation, the subtle elements of the proposition were not determined amid the financial backing. 

We accept that an increment in the purchasing limit of home purchasers will help recoup the realty business in India. Despite the fact that the business was expecting some extra duty absolutions for normal man, sparing of up to INR 4,44,200 in a monetary year will without a doubt thought process property purchase.

Invest flats in Mumbai in a budget of 20 lakhs 

One of the greatest money related goals we all have is to claim a place of our own. Yet with expanding area shortage driving up property costs, it is regularly hard to accomplish this fantasy, particularly in a city like Mumbai. Nonetheless, in the course of recent years, infrastructural advancement and enhancing network have prodded the development of new private zones in Mumbai – a large number of which offer homes with predominant pleasantries at moderate costs. For the individuals who are searching for shabby lodging choices in Mumbai, we present to you three regions where you can purchase flats in Mumbai within the INR 20 lakh range. 

Nallasopara 

Consumers searching for cheap flats in Mumbai can put resources into Nallasopara where the cost of a 1 BHK ranges from INR 15 – 20 lakhs. Found in the western rural zones of Mumbai, just after Mira Road, one of the best points of interest of this territory is its network. Nallasopara is straightforwardly associated with Mira Road and Mumbai through the Mumbai-Ahmedabad National Highway or Western Express Highway. The locality likewise vessels of great social infrastructure with numerous reputed schools and doctor's facilities spotted in the region. 

Vasai – Virar belt

Vasai and Virar have dependably been the center for reasonable flats in Mumbai with the cost of a 1BHK running from INR 10 – Rs 20 lakhs.The suburbs are deliberately connected to all metropolitan locales of Mumbai by street and rail. This belt has turned into a popular land destination among home purchasers because of the persistently enhancing network, reasonableness of land costs and enhanced infrastructure. An alternate purpose behind its fame is the way that the support methodology is quick here which has helped in the enlivening the pace at which activities are being delivered.

Dombivli – Kalyan belt

The soaring costs in Mumbai rural areas, coupled with the developing interest for reasonable lodging has changed Dombivli from a sluggish suburb to an up and coming realty hotspot for those searching for modest pads in Mumbai. A special preference of Dombivli is that is a perfect area for the individuals who need to stay near to both, Mumbai and Pune. With decently created integration, great base and a scope of reasonable homes to browse, Dombivli is a top decision for the individuals who are searching for plan flats in Mumbai. 

Kalyan is an essential line intersection that offers extraordinary network to all parts of Mumbai. A center point for reasonable lofts in Mumbai, Kalyan is cosmopolitan in nature and draws in numerous transients for settlement owing to the way that lodging there is moderately financially savvy when contrasted with different territories in Mumbai. The expense of a 1 BHK flat in Kalyan can extend from INR 15 to 20 lakhs.

5 tips to transform your home into a stress free zone

Stress influences the mind, body, and behavior in many negative ways and can hamper the pursuit of a healthy and happy life. Most of us experience stress in one form or another at some point in our lives, be it at our work places, our schools, in the streets or in our personal relationships.

Your home is meant to be a refuge. One that will not only shelter you from harsh weather but will also shield you from the harshness of day to day life. We bring you a few tips to transform your home into a zen paradise that offers you serenity and peace of mind.

1)  Declutter and clean

Coming home to a house that has been de-cluttered and cleaned will immediately place you in a more serene state of mind. A Zen lifestyle is one that embraces minimalism and hence try to avoid having too many paintings, pictures or decorative items around. This will just add to the clutter in your space.

2)  Use flowers and plants

Instead of filling your house with materialistic belongings, try to fill your living space with plants and flowers. Studies have indicated that stocking your room with plants can help calm you down.

3)  Lights and scents

Avoid the use of harsh lights in the house that can be headache-inducing. Instead opt for soft ambient lights using task lamps—desk lamps, floor lamps, and table lamps. The best option is to have open windows and bright curtains that let in lots of natural light.

You can also have scent diffusers and incense sticks in natural smells, which can not only be calming when it’s time to sleep, but also invigorating when it’s time to wake.

4) Softness under your feet

One of the most relaxing feelings is to walk on soft green grass. You can recreate this experience in your homes, by having soft textured carpets under your feet. There are many options to choose from in the carpet and based on your budget you can choose a carpet in cool earthy tones.

5)  Switch off electronic devices

Electronic devices such radios, TVs and phones are most often a source of distraction and therefore do not integrate in a fully Zen decor. Try to keep them switched off or tucked away out of sight when at home. Also make sure that you hide all the wires and cables that could distort the serene atmosphere of the Zen setting.

What's in store for real estate in Mumbai in 2015?

        What's in store for real estate in Mumbai in 2015?

With the inflation hitting an unequaled high, property buys were given the slightest need first and foremost of 2014. Yet with the new government taking activities to reinforce the realty market- the division saw a recovery and was ringing with different realty enrollments towards the end of 2014. What's more with the Modi drove front concentrating on creating reasonable lodging units and base, the year 2015 is situated to be truly a productive year for the realty segment. IndiaProperty.com's late overview set out to catch the property purchasers' mind in 2015. The outcome justified itself with real evidence with 60% of respondents saying that they are prone to put resources into properties in not long from now. 

While unraveling the realty business of Mumbai, the study demonstrated that 81% of property seekers are proposing to put resources into properties for their own particular prompt utilization and the staying 19% of home purchasers are to make speculations for future productive returns. Moving far from being simply an end clients showcase, the city is quick changing into a rental center. Properties in Mumbai are fit for producing nice looking rental yields and speculators are not shying far from purchasing inventories in neighborhoods like Andheri West, Powai and Andheri East for their speedy rental returns. Refered to as the main three most favored rental regions, homes in these areas are evaluated to create rental yields anyplace between INR 23,000 and INR 42,000 every square feet, in the event that the homes are semi or completely outfitted. 

Further inside and out assessment of the review tossed light on how interests in a level in a multistorey building is riding high at 79% took after by individual homes at 12%. 

With the nation's steady monetary circumstance now empowering numerous first time home purchasers to take the dive, the overview recorded a popularity for reasonable homes. 51% of home purchasers are searching for homes that fall under the value section of INR 30 lakhs while just 12% of property seekers are demonstrating an enthusiasm for owning liberal living spaces that are evaluated over INR 1 crore. A portion of the areas that have quick formed into getting to be private catchment zones for the MIGs for its conservative homes incorporate Kharghar, Nalasopara West, Virar West, Vasai Road East, Kalyan West and Badlapur East. 

The study additionally went ahead to report a couple of components that are affecting the home purchasing choice. First time homes purchasers are currently checking for some essential parameters like developing foundation, accessibility of open transport and future standpoint before putting resources into a specific micro business. A percentage of the up and coming neighborhoods you have to pay special mind to incorporate  Byculla (because of its consistent network), Dombivli & Palghar (for its developing modern division) and Andheri & Borivli (due to its developing business sash.)