Monthly Archives: February 2024

These considerations are crucial for real estate investors before purchasing property in Noida and Greater Noida.

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Experts in real estate advise investors to proceed cautiously and investigate the developer’s standing, project approvals, and timeliness records.

Over 6500 apartments could be registered shortly in Greater Noida after at least thirty developers consented to settle their debts following the Uttar Pradesh government’s 2023 real estate policy. Here are some things real estate investors who wish in the real estate market should know about.   

By the policy, the realtors of thirty housing projects in Greater Noida currently on hold will receive authorization to complete the registry of 6,500 apartments in their projects after paying Rs 350 crore. 

“A minimum of thirty developers in Greater Noida have signed an agreement to pay 25% of the outstanding balance and execute registries of available units in delayed housing projects.” To alleviate suffering for homebuyers, we are pursuing all realtors to encourage them to utilize the program and obtain registry permission,” said Saumya Srivastava, an additional chief executive officer of the Greater Noida Authority.  

Thirteen realtors in Greater Noida who have accepted the government deal in Noida have also agreed to the policy of coming forward to settle their debts.  

What policy does the UP government have? 

It is not penal interest for real estate developers to halt construction during the two-year COVID-19 period or in response to a court order.

Officials say that another thirty realtors will most likely consent to pay their dues. These developers have agreed to contribute 25% of the total dues, minus penal interest, to be eligible for the registry of apartments. 

How much do developers owe the authority in total? 

The stalled housing projects under this policy are 57 housing projects with 32,000 units in Noida and 96 housing projects with 75,000 units in Greater Noida.  

About Rs 8,000 crore is estimated to be owed by Noida realtors, and roughly Rs 5,500 crore is due by Greater Noida realtors for the abandoned projects. 

The authority can take away the developers’ allocations under the policy. 

If defaulting realtors refuse to pay their dues and take over the unfinished project, the government cancels their allotment. The policy also gives the three industrial bodies—Noida, Greater Noia, and Yamuna Expressway— the ability to put the defaulting developer on a five-year. 

Officials claim that out of the 75,000 units in Greater Noida, at least 96 projects are stalled and may benefit from the 2023 policy. 

The process should take one or two months to finish. 

Upon the authority’s completion of the process and granting the required permission, the procedure will be finished in two to three months.  

Three committees, led by deputy general managers, have been established by the authority to go after the remaining realtors and force them to settle their debts before they can register authorization. 

Registry in Noida 

Of the 57 real estate developers of housing projects in Noida that have stalled, only 13 have stepped forward to make payments after obtaining interest waivers under the new policy.

Realtors are under pressure from the Noida authority to either pay land dues by the new real estate policy deadline of December 21, 2023, or face consequences. 

Reason for action: of the 57 realtors of housing projects put on hold, only thirteen came forward to pay the balance after using the interest waivers provided by the new policy. 

Of these 13, seven have already paid the fees; the other two have consented and are now processing payments to obtain registration authorization. 

Thirteen stalled housing projects in Noida are among the developers who have accepted the government deal in exchange for permission to register. 

Why don’t developers in Noida show up to pay their bills as frequently as they do in Greater Noida? 

Developers in Greater Noida are paying their dues in large quantities because the policy that allows for waivers reduces the amount they owe the Authority. Major developers in Noida with debts exceeding Rs 100 crore include Supertech Group, ATS, Prateek Group, and Gardenia Glory. 

Officials from the Noida authority claimed, “These developers also demand more waivers before they decide to pay up the dues.”

However, Greater Noida authority officials stated that more developers are coming forward to settle their debts because they are less than Rs 100 crore. 

Do you want to buy property in Greater Noida or Noida? Observe the following information. 

More developers have agreed to pay their debts, which could lead to progress and a quicker completion date for the project, according to Prashant Thakur, Regional Director & Research, ANAROCK Group. Prospective buyers should, however, proceed cautiously and thoroughly review the developer’s standing, project approvals, timely completion record, and financial standing before investing. He advised doing extensive due diligence at all times and sticking with reputable, well-organized developers. 

To navigate the complexities of the market and make wise decisions, it makes sense to seek professional guidance from a qualified real estate advisor if there is any cause for doubt. Reputable consulting firms will be able to provide accurate information. He asserted that small brokers, unrestricted by industry best practices, often give misleading information to close deals. 

“It is important to monitor the policy’s progress and the developers’ compliance to obtain a clearer picture regarding its effectiveness in expediting project completion,” he went on.

Noida’s five most expensive residential areas

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The National Capital Region (NCR) includes Uttar Pradesh state’s Gautam Buddh Nagar district, which is home to Noida. Over time, Noida has become one of the most affluent and luxurious residential areas. Noida is a popular destination for singles, families, and professionals. Numerous people opt to live here because it is less expensive than Delhi or Gurgaon. 

These upscale neighborhoods in Noida offer opulent homes, first-rate amenities, and an unparalleled culture. Every resilience shows dedication to sophistication and elegance, from opulent estates to modern penthouses. Discover the allure of these affluent communities, where residents take advantage of the best facilities available and a majesty that reflects the high-end Noida residential area. Would you like to learn more about the city? Continue Reading!

Modern infrastructure, everyday comforts, public services, and state-of-the-art facilities are all available in Noida. Numerous schools, IT companies, and residential areas with both low- and high-rise buildings are in Noida. 

Sector 44, Noida 

Sector 44 lies near the Okhla Bird Sanctuary in the northern region of Noida. It surrounds the communities of Sector 45, Sector 18, Sector 29, Sector 43, and Sector 40. It lies between Dadri Road and the Noida — Greater Noida Expressway on the north and south sides. This area has easy access to public transportation that connects it to different parts of Noida and Delhi. The closest metro station is Botanical Garden, a stop on the Delhi—Noida metro’s Blur line. There are many parks and gardens around Sector 44, one of the most well-known being the Botanical Garden. The Noida Golf Course, a well-liked destination for golf enthusiasts, is located nearby. 

Important Elements 

  • Connectivity: Sector 44 enjoys good access to the Noida golf course, as well as to the other recreational facilities and sectors 18, 29, and 45.  
  • Transportation Facilities: Buses and metro stations are among the public transportation options available in the neighborhood.
  • Investment: Within a 10-kilometer radius of the area are parks, retail centers, business parks, and software firms, among other places that draw in investment. 
  • Extracurricular activities: The Botanical Garden and the Flim City project are fantastic visitor attractions.  

Sector 72

Sector 72’s advantageous location in the city allows it to enjoy excellent connectivity within Noida. Getting around the city is easy because of the well-designed roads, efficient public transportation, and close-by metro stations that guarantee easy access. Everyone can readily utilize transportation in Sector 72, Noida, whether they commute a long distance or work nearby. A community’s attractiveness frequently depends on the presence of prestigious educational institutions. Gyandeep Public School and The Banyan Roots, two well-known institutions, are located in Sector 72, which enhances the area’s standing as a center for high-quality education. 

Important Elements 

  • Connectivity: Because Sector 72 lies in a posh, well-established neighborhood, it has good access to Noida’s key cities. 
  • Transportation Infrastructure: This region offers excellent access to well-maintained roads, adjacent metro stations, and public transportation facilities. 
  • Investment: This location regularly provides first-rate infrastructure and everyday essentials like excellent services, medical facilities, and educational institutions. 
  • Extracurricular activities: There are numerous exciting extracurricular activities available in this perfect location, like Snow World, Buddh International Circuit, Asquare Mall, Shopprix Mall, and many more, that will keep you occupied and never get old. 

Sector 18, Noida 

Sector 18 is one of the most sought-after locations in Noida. This neighborhood is a fantastic choice for everyone because it provides residents with the ideal mix of commercial, residential, and recreational spaces. Access to public transportation and other parts of the city is convenient from this area. Many banks, insurance providers, and financial institutions, including National Insurance, AOV Forex, Birla Sun Life Insurance, and Bajaj Capital, are located in Sector 18. Visitors can explore a well-rounded living environment, entertainment venues, and the Gurudwara Sahib.   

Important Elements 

  • Connectivity: This area stands out because it provides quick access to some locations, including Dr. Ambedkar Park, the Sector 16 metro station, the Mahmaya overpass, the DND Flyover, and many more.  
  • Transportation Facilities: First-rate buses and metro stations are available for public transportation. 
  • Investment: Many of the neighborhood’s locations, such as hotels, shopping malls, business parks, and schools, attract interest from potential investors. 
  • Extracurricular activities: The Radisson Hotel, Mosaic Hotel, Mall of India, The Great Inia Place Mall, Garden Galleria, Wave Mall, and Sri Guru Singh Sabha Gurudwara are nearby attractions. 

Noida’s Sector 87

Noida’s Sector 87 is a busy neighborhood that skillfully combines commercial and residential development in the heart of the energetic city. This rapidly growing center offers the best of both worlds: contemporary amenities, thoughtfully designed infrastructure, and convenient access to the entire city. A component of the NCR, Noida has expanded dramatically in the past ten years. Sector 87 is one of the most sought-after neighborhoods for renters and homeowners. Due to its prime location, Dadri Main Road, the Noida-Greater Noida expressway, and the FNG Motorway (Faridabad-Noida-Ghaziabad) are just a few of the main thoroughfares that are easily accessible from this area. 

Principal Elements 

  • Noida’s Sector 137, the Jaypee Underpass Flyover, the Mahamaya Flyover, and other significant places are easily accessible. 
  • Transportation Facilities: First-rate buses and metro stations are available for public transportation.
  • Investment: One of the main things that attracts people to Sector 87 is the multitude of amenities available to cater to the diverse needs of the local population. 
  • Extracurricular activities: With plenty of new activities coming soon, including Barbeque Nation, Noida Golf Course, Smash Noida, and more, Sector 87, Noida, is a great place to be. 

Sector 132, Noida 

Enter Sector 132, one of Noida’s most sought-after neighborhoods. The established neighborhood is a popular choice for both renters and buyers due to its peaceful surroundings, first-rate connectivity, and luxurious amenities. Noida’s Sector 132 is a great place to settle down. With some of the best schools in Noida, it is especially great for families with children.  

Essential Elements

  • Connectivity: Sector 132 in Noida is a thriving community that offers exceptional living conditions to its residents.
  • Transport Facilities: NSEZ metro stations, taxis, and autorickshaws are good examples of the public transportation services provided by this sector. 
  • Investment: By placing these ATMs in prime locations, locals can ensure that cash withdrawals and other financial services are easily accessible. 
  • JPS Galleria, Starling Edge, Uptown Square, PK Boutique Hotel, and many more venues offer a range of fun activities. 

Conclusion

The most expensive residential area in Noida represents a sense of exclusivity and luxury. It provides a modern lifestyle with abundant amenities, a feeling of wealth, and attractive architecture. The rising cost of real estate in this sought-after neighborhood reflects the high demand for real estate in the bustling metropolis and the allure of living in luxury. 

What is the procedure for paying land tax online in Kerala?

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Here’s how users can pay land tax online in Kerala by visiting the official website of the State Revenue Department.

Sanchaya, the online portal of the state government’s local self-government department, has simplified the method for paying land taxes in Kerala. To pay land tax, users can sign up for the official revenue department website of the Kerala government. 

Describe the land tax. 

When you buy real estate, the state and union territories impose a land tax. In Kerala, the revenue department has jurisdiction over any land parcels, and the owner is responsible for paying a tax based on how the land is used. The annual tax is the responsibility of the property owner.

The money each panchayat and local urban body earns to maintain and grow public amenities for residents and tourists. Kerala’s revenue department calculates and examines the online land tax. 

Kerala’s land tax rate

By the new budget, land valued at over 20 cents will be subject to a tax rate of Rs. 8 per acre in the village panchayat divisions.

Here, R denotes a 1,000 square foot area. 

The price of municipalities is Rs. 10/R for each centimeter of land. However, a tax rate of Rs 15/R will apply to land valued at more than 6 cents. 

Land has a price of Rs 20/R for corporations, accurate to the nearest 4 cents. Lands worth more than 4 cents are subject to a tax of 30/R.  

How does land tax work in Kerala?

When calculating land tax in Kerala, factors such as the land area, property age, and current cycle rates exist.

How can I pay the Kerala land tax online? 

Step 1: Create an ID and password after registering on Sanchaya’s official website. The Revenue Department of Kerala’s official website is also accessible.  

Step 2: Select “Citizen Login” for Sanchaya and enter the generated ID and password. It will take you to the Local SelF Government of Kerala (LSG) website.

Step 3: Register on this website if you are yet to do so. If you are already a user, select “Payment for Registered User.” 

Step 4: Enter the necessary information and the Captcha code. Verify your enrollment. A new page will appear. 

Step 5: After finishing, access the “Citizen Login” page on the Sanchaya website. The local self-government of Kerala (LSG) will be where you go. 

Step 6: Select the applicable district, corporation, or municipality. Press the submit key.

Step 7: The webpage will display the local organizations. Press the E-pay button. You’ll be sent to a different web page. 

Step 8: Select “Property Tax” and enter the necessary details, such as the ward number, door number, and sub number. 

Step 9: A display of the verified property tax information alongside the tax balance will appear.  

Step 10: Input your email address, mobile number, and Captcha code. 

Sep 11: Select the “Pay Now.” Choose a suitable payment method, then pay the Kerala land tax online. 

The finest cement for plastering a home

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Plastering with cement is the most common way to achieve a perfect finish, a smooth surface, and more durable building walls in any construction project. Plastering is the application of a thin layer of cement mortar adhesive material to the walls and roofs. Plastering comes in different forms, such as lime, gypsum, cement, and clay plastering.  

Cement is a crucial component and a common material in construction projects in the real estate industry. Plastering houses is one of its uses, among other things. The longevity of your home or any other building depends on the type of cement you use, so make the right choice for the best plastering experience. Tell us which plastering in India is the best. 

The best plastering cement 

The two cement grades most frequently used for plastering are Portland Pozzolana (PPC) and Ordinary Portland Cement (OPC). The types of cement used can vary based on the needs of the building or home. PPC cement is considered the best over the former grade because of its numerous advantages. PPC cement is better than the prior grade due to its many benefits. Its ability to repel water keeps the structure from fracturing. PPC cement is softer than OPC cement, but it offers better finishing. The cement plastering ratio is another crucial element for the best cement plastering outcomes. The type of building can affect the plaster requirements. In general, if the thickness of the plaster is more than 15 mm, two coats are applied. For your home’s exterior plaster, you can use masonry or white cement for decoration. In short, the best plastering cement will depend on the requirements of your project.  

Various cement grades 

Various cement grades indicate the mix’s strength. The different cement grades are necessary for this reason. The market offers three grades of cement: Grade 33 (IS: 269), Grade 43 (IS:8112), and Grade 53 (IS: 12, 269) for purchase. Plaster requires cement grade 33, while flooring, precast, and plastering typically use grade 43 cement. 

Cement mortar is another essential component for a smooth plaster finish. Sand, cement, and water are the ingredients of mortar. The proportion of cement to sand determines the strength of cement mortar. To plaster walls with precision, cement mortar is essential. In addition to plaster, masonry blocks like bricks, plaster walls, and slabs consist of cement mortar. 

What is making Kanakpura Road a sought-after residential area?

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Bengaluru’s most sought-after real estate area is Kanakapura Road, hidden in the quiet suburban charm. This growing neighborhood, which attracts investors and homeowners due to its convenient location, offers a modern urban lifestyle in a tranquil setting. Kanakapura Road is a testament to Bengaluru’s dynamic real estate market, ready to draw in buyers looking for convenience, affordability, and peaceful surroundings. Its varied housing options, quick market appreciation, and dedication to maintaining its nature also contribute to this. 

Advantages of Location

The advantageous location of Kanakapura Road provides its residents with many advantages. Its outstanding connectivity, which offers simple access to significant thoroughfares like Hosur Road via NICE Road and the Outer Ring Road, is among its most notable attributes. The city’s inhabitants are used to traveling to neighboring cities like Mysore and around it.  

There are plenty of choices when it comes to transportation. There is an extensive network of autorickshaws, buses, metros, and app-based taxi services accessible. Moreover, the neighborhood’s proximity to Banashankari Bus Terminus is noteworthy and contributes to the ease of commuting for its residents within the city. Whether you are a professional, a family man, or an adventurer, Kanakapura Road offers a comprehensive solution by fusing modern conveniences with metro connectivity to keep you ready for the future. 

Infrastructure developments 

The infrastructure surrounding Kanakapura Road has undergone a dramatic change. Significant modernization of the road network has improved living standards and made commutes more comfortable. The attractive metro (Green Line) line, which promotes intra-city connectivity and unleashes additional potential for this region, is noteworthy. Kanakapura Road is becoming a lively and well-connected community due to the convergence of better infrastructure and increased connectivity, providing an enticing mix of contemporary convenience and exciting investment opportunities. 

Adaptable residential environment 

Homebuyers and developers alike are taking notice of Kanakapura Road as it has become a highly sought-after residential hub. Its advantageous position in IT parks, medical centers, and entertainment hotspots has improved its standing in the real estate market. Prospective homeowners can choose from options that fit their needs and budgets. 

You can look at housing options in this area, from luxurious gated communities to reasonably priced apartments. It is the best option for anyone looking for a home in popular communities like Banashankari, JP Nagar, Jayanagar, Basavanagudi, Konanakunte, Tlaghattapura, Kumaraswamy Layout, ISRO Layout, Uttarahalli, Padmanabhanagar, Bannerghatta Road, and RR Nagar because the price range varies to suit a variety of budgets. Whether you want to upgrade or buy a home for the first time, Kanakapura has a residential option that meets your needs. 

Peaceful balance between ease and quiet 

Kanakapura Road is the ideal location for individuals seeking a harmonious lifestyle because it skillfully combines the comforts of city living with a tranquil setting. There are plenty of options for entertainment nearby, including cinemas, busy shopping centers, and delicious restaurants. Due to the area’s advantageous location, residents have easy access to top-notch healthcare and education options. Notable educational institutions in the area include Sri Kumaran Public School-ICSE, Jnana Sweekar Public School, and The Valley School. Prominent healthcare facilities are also located nearby on Bannerghatta Road and Jayanagar. Furthermore, IT workers benefit notably from the location’s closeness to bustling IT parks and tech corridors like Global City Tech Park, which allows them to shorten commutes and achieve a better work-life balance. For individuals in Bengaluru looking for the ideal blend of city conveniences and peaceful living, Kanakapura Road is a great option. 

Investment Quality 

Kanakapura Road is a bright spot for investors. Property values in this area have been steadily rising due to the area’s advantageous location and the rising demand for housing. With continuous infrastructure improvements, the future appears more promising due to real estate prices staying up and, as a result, offering a superior return on investment. 

Kankapura Road is a tempting option for people looking for a second home because it provides a calm atmosphere and lots of green space. Gated communities and opulent apartments enhance the appeal by offering a first-rate lifestyle that pleases discriminating purchasers.  

Potentials 

As Bengaluru develops and grows, Kanakapura Road has a lot of promise for the future. The general quality of living will rise with the construction of parks and recreational spaces, adding to the neighborhood’s aesthetics. Kanakapura Road’s residential real estate is in high demand due to Bengaluru’s growing business and startup scene, making it an excellent investment option. The region is a great place to invest because it provides a prosperous present and a promising future.  

Conclusion 

A vibrant community that perfectly captures the spirit of contemporary urban living exists along Kanakapura Road. Convenience and peace of mind coexist here thanks to its advantageous location, excellent connectivity, and thriving infrastructure developments. Kanakapura Road is a great place to live, whether you are a savvy investor searching for deals or a potential homeowner looking for a cozy home. Bengaluru’s growth indicates that this region has a promising future and is a great investment opportunity. By purchasing real estate on Kanakapura Road, you are also investing in a way of life that blends the finest living standards with a tranquil setting. 

Hyderabad’s growing need for 3-BHK Houses

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Bigger homes, especially 3BHK units, are in high demand in Hyderabad due to changing lifestyles, financial concerns, and investment strategies. In keeping with this trend, IRA Realty has 3-BHK units at Rs 99.28 lakh available at an IRA Miracle in Kollur. Propertywala explains how IRA Realty meets the changing needs of Hyderabadi homebuyers. 

Hyderabad’s biopharmaceutical, IT, and Special Economic Zones (SEZ) sectors are well-known, and the city’s pearl trading and processing industry is growing. The real estate market in Hyderabad is also booming. The city remains one of the top locations for real estate investments, drawing clients from domestic and foreign markets. But in the post-COVID era, buyer’s preferences for homes have evolved. Buyers are now willing to upgrade from the formerly 2 BHK to larger units that accommodate their hybrid work models. 

The declining interest rates on home loans are another factor supporting this trend in investing. To meet the changing needs of contemporary consumers, IRA Realty is building IRA Miracle, a 3BHK housing community in Kollur, Hyderabad. Let us examine the factors causing Hyderabad to see a rise in the demand for larger spaces alongside the options currently available to potential homeowners.  

Why are Hyderabadi people starting to prefer 3 BHKs? 

A large living area is required. 

Particularly in the aftermath of the pandemic, the need for additional living space has become apparent. The emergence of hybrid work models has led to a rise in demand for apartments that provide warm living, flexible workspaces, and a separate home office. 3-BHK configurations were, hence, the best option. Aside from that, the fact that both adults and children value privacy has led to the need for more rooms. Because of this, IRA Miracle by IRA Realty sticks out from other projects. 

In the up-and-coming Kollur neighborhood, close to the Outer Ring Road, IRA Miracle provides luxurious 3-BHK apartments with contemporary amenities that meet modern living standards. These Vastu-complaint apartments are priced between Rs 99.28 lakh and Rs 1.35 crore and have sizes ranging from 1,655 sq ft to 2,455 sq ft. Every housing unit at IRA Miracle has an independent wall, giving each family a peaceful and private area. It is one of the community’s most noteworthy features.  

Enhanced accessibility 

There has been a noticeable change in the preferences of urban residents when it comes to purchasing homes, as disposable income has been steadily rising. A greater variety of prospective homeowners can now afford the 3-BHK apartments. Lower rates on home loans and the construction of larger projects in the outlying areas that provide more open spaces and improved lifestyle amenities are the primary causes of the fad. Due to their desire to work from home and benefit from the modern amenities and greener surroundings, homebuyers are also willing to invest in such projects. 

One such project, IRA Miracle, aims to cater to the expectations of contemporary homebuyers by providing fully developed landscaped gardens, greener surrounds, and modern amenities, like a library, spa, and pool table, among others, to break up the monotony after a long day at work. 

Regarding facilities, IRA Mriacle offers a lavish multilevel clubhouse spanning 20,500 square feet with premium features to provide an upscale living experience. IRA Miracle is a project currently under construction with a completion date of December 2024. Its RERA number is P01100002811. 

A higher return 

Choosing the right kind of property is essential for maximizing returns on real estate investments, which are considered long-term strategies. In the real estate market, larger units—like 3BHK houses—generally have a higher resale value. The property’s versatility makes it appealing to a broader range of buyers. 

3-BHK homes have a high resale value, showing their enduring appeal and financial benefits. These apartments stay relevant and appealing as families expand and lifestyles change, guaranteeing a steady demand in the real estate market. 

Possibilities for rentals

Hyderabad’s expanding industries, particularly in the IT/ ITeS sector, are driving up demand for rental housing. Professionals and students searching for a comfortable and spacious rental property often choose 3-BHK apartments because they can accommodate multiple inmates, lowering the monthly cost per person. Therefore, homeowners can investigate renting out all or part of their 3-BHK apartments to generate rental income.  

Because tenants prefer buildings with better amenities and less maintenance, newer developments—like IRA Miracle, which will be ready for occupancy by the end of the year—are also much easier to lease out than older ones. 

Long-term financial commitment 

These larger apartments provide adaptability that meets homeowners’ changing needs, whether they want to upgrade their lifestyle or prepare for a growing family. Larger units also raise one’s status and are seen as an asset. 

In conclusion, the changing tastes of contemporary homebuyers have shaped the rising demand for 3-BHK homes in Hyderabad. These bigger apartments provide an all-encompassing answer, meeting demands for roomy living areas and the possibility of higher profits and rental income.   

Can a crisis similar to China’s Evergrande occur in the Indian real estate market?

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Evergrande: One significant distinction between the real estate markets in China and India is that the former has steady buyer demand. 

A Hong Kong court ordered on January 29th the liquidation of the troubled Chinese real estate giant Evergrande. This decision will likely impact the nation’s financial system and the trust of foreign investors. This article looks at the tremendous strides the Indian real estate market has made since the collapse of Infrastructure Leasing & Financial Services, which caused a crisis of non-banking financial companies (NBFCs). 

Experts in real estate claim that there are parallels and differences between the Infrastructure Leasing & Financial Services (IL&FS) debacle and the Evergrande crisis. Both have significant adverse impacts on their respective markets, including high debt levels and inadequate financial management. However, in contrast to China, India’s real estate market recovered gradually due to national initiatives and the creation of the Real Estate Regulatory Authority.

“Thanks to government initiatives and regulatory changes like RERA, India’s real estate market has gradually recovered following the IL&FS disaster. India’s real estate market is more stable than China’s, falling despite challenges like capital shortages and regulatory barriers. The IL&FS crisis was mainly limited to India; Ever grande’s problem has global implications due to its size and exposure to foreign debt, according to ANAROCK Capital’s MD and CEO, Shobit Agarwal. 

Global implications of the Evergrande issue are more extensive. 

China’s real estate market is slowing down, but India’s is more secure despite ongoing challenges like capital shortages and regulatory barriers. According to Agarwal, the IL&FS crisis mainly applied to India, but the scope and exposure to foreign debt of Evergrande’s problem have global implications. 

It is noteworthy that Evergrande owes over $300 billion in debt. Thousands of homebuyers stood in a bind over building and financial mismanagement regarding unfinished apartments. According to agency reports, High Court judge Linda Chan’s ruling on January 29 essentially starts a drawn-out process that includes selling off the developer’s assets and changing the management to ease the worries of its creditors. 

According to agency reports, Ever Grande’s demise came in 2021 when Beijing tightened its lending policies to real estate developers to curb the bubble. 

What distinguishes the two real estate markets? 

Nearly 40% of all home sales in China are due to Chinese real estate developers, who have struggled with severe debt default since 2021. Of the $175 billion in outstanding dollar bonds, they have defaulted on over $114.6 billion. The ongoing COVID-19 impact and government regulations governing financing methods are among the factors. Gulam Zia, Senior Executive Director at Knight Frank India, explains that these actions have developers’ funding options while preserving financial stability and controlling property price surges. 

With 3,100 real estate projects, almost four times as many as Evergrande, and $ 191.7 billion in total liabilities, another real estate developer, Country Garden, has been struggling financially. As per a report published in the South China Morning Post last week, troubled Chinese developer Country Garden Holdings has listed some assets for sale in Guangzhou to clear a significant amount of debt due within the next six months. 

Zia continued, saying another factor to consider is that Chinese homebuyers need more confidence due to unfinished projects and lax laws allowing developers to withdraw funds from escrow accounts.

Furthermore, the real estate industry in China makes up roughly 30% of the country’s GDP, compared to only 7% in India. Real estate experts predict it will not increase by more than 15% even over the next 20 years. 

At $477 billion in valuation, the real estate industry in India accounts for 7.3% of the country’s GDP. According to projections, the economy will grow significantly, reaching $5.8 trillion by 2047, or 15.5% of total output. This growth is due to the increasing demand for better living spaces brought about by rapid urbanization, according to a Knight Frank and Naredco report from the previous year.

RERA: Revolutionizing the real estate industry in India 

The industry has been made cleaner by the real estate regulatory bodies that have been established around the nation to control the real estate market and safeguard homebuyers. 

China faces many challenges, but urbanization will continue to grow India’s market. Thanks to changes in regulations and lessons from past failures, the Indian market has become more resilient and customer-focused. Compared to its Chinese counterparts, India’s real estate market has a brighter future, which puts it in a more stable position, says Zia. 

Persistent demand for housing 

The consistent end-user demand is the primary distinction between China and India. 

Even in times of economic recession, such as the Lehman crisis in 2008, the demand for real estate in India has remained steady. In India, the main issue was developers abusing the money that buyers purchased homes with. China, on the other hand, faced challenges with many builders finding it difficult to make timely payments, which were made worse by limited access to funds due to the global economic situation, as Zia points out in his research paper titled India’s Resilient Real Estate Market Amidst China’s Real Estate Woes: A Comparative Analysis.

In India, is a beach considered private property? How does possession vary from ownership?

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The complex issue of private beach ownership exists in India. Although there are some private coastal areas, it’s uncertain if beaches in India fall under the category of private property. State-by-state variations in beach ownership and public access laws give rise to discussions about the effects on the environment. In this article, Propertywala goes deeper into the subject and attempts to comprehend it.  

The ownership rights debate surrounding beaches has connections with historical precedents and current concerns, spanning from the pristine shores of Goa to the picturesque coasts of Kerala. In India, exclusive beach ownership raises questions about cultural heritage, public access, and environmental preservation. The interaction of social dynamics, legal disputes, and tourism-related effects illustrates the depth of the problem. 

Can a beach be private property in India? We will examine this topic and how difficult it is for the nation to balance development and preservation. 

What constitutes private property ownership?

In India, “private ownership of property” refers to the sole legal authority that a person, business, or other entity has over a plot of land, real estate, or other tangible assets. It gives the owner the right to keep, use, give away, and bar others from using the property.  

Within the parameters of Indian property laws, the owner gets to use the property as they see fit and to assume specific responsibilities. Ownership typically occurs through legal documents such as titles, deeds, or conveyances. However, what distinguishes possession from ownership? In this article’s next section, let us find out. 

The distinction between ownership and possession 

Possession and ownership are two different legal concepts in India. The act of physically controlling or occupying a piece of property is called possession. One does not necessarily own property when it is in their possession; tenants are individuals who look after property on behalf of owners. Ownership is a more expansive legal concept than possession, and it refers to actual physical control or occupation. 

The legal right to possess, use, and dispose of property, including real estate or land, in any way that’s allowed by law is, in essence, what ownership refers to. It includes the authority to manage the asset and reap its rewards. 

Let us see whether a beach in India can be considered private property in the next phase. 

Does India allow a beach to belong to someone else? 

While beaches are usually open to the public, some coastal states in India may identify some areas as “Private Access Beaches” to attract tourists. Many hotels and resorts have private beaches that are by local ordinances. Owners may limit access to be exclusive to guests, but under certain circumstances, some laws allow limited public use. 

The Supreme Court ruled in 2022 in a landmark decision that the public has the right to the unimpeded and undistributed enjoyment of natural resources like beaches, forests, rivers, and water bodies. It is thus feasible to say that while you can own a beach, you can also possess it. 

In conclusion, the debate over beach ownership in India is akin to balancing ownership flights with ecological necessities. India’s ability to navigate this complex situation highlights the need to strike a balance between regulations and ensure that the coastline develops sustainably. 

CEO of Bhartiya Urban’s Residential: “Bengaluru Real Estate Stands Out As One Of Most Sought-After in India”

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Due to urbanization, changing demographics, and a renewed emphasis on affordable housing, the Indian real estate market is undergoing significant transformation. The emergence of integrated townships, combining housing with community, sustainability, and other amenities to create holistic living experiences, is a clear example of this evolution. The CEO (Residential) of real estate company Bhartiya Urban, Ashwinder Singh, provides insights on investor opportunities and the state of the Indian real estate market, particularly in Bengaluru, in an interview with News18.com. Edited excerpts: 

What effects on investor confidence, security, and transparency are the implications of Sebi’s legalization of fractional ownership? 

By enhancing transparency and security measures, Sebi’s recent move to formalize fractional ownership has the potential to boost investor confidence. Place these platforms under the regulatory purview of Sebi guarantees compliance with strict guidelines, equitable procedures, and the protection of investor interests. The regulatory framework mandates exhaustive and transparent disclosures to give investors the information they need to make well-informed decisions.  

Enacting investor protection measures will also provide recourse if any issues arise. These measures include fund segregation and dispute-resolution mechanisms.  

SEBI oversight should encourage thorough due diligence on assets put up for sale, lowering the possibility of encouraging illiquid or fraudulent investments. 

Give your thoughts on the state of the Indian real estate market right now. 

In recent times, India’s real estate industry has undergone notable changes. The need for residential real estate is increasing due to several factors, including population growth, urbanization, and a strong focus on affordable housing. The advent of integrated townships signifies a movement towards all-encompassing living situations involving housing, community, amenities, and sustainability. 

What makes the Bengaluru real estate market unique, and why would you advise investors to focus on it first? 

One of the most sought-after real estate markets nationwide, Bengaluru continuously produces strong returns for established and emerging markets. In Bengaluru, there were almost 2 lakh home sales in just the first three quarters of 2023. The city is a popular place to settle down because of its thriving startup scene and well-established IT sector, which draws millennials. The real estate market in Bengaluru will continue to grow, providing end users and their families with a wide range of well-designed homes in handy locations. 

With the expected expansion of the economy and the growing demand for housing, investing in the Indian real estate market offers a bright future. Notably, non-resident Indians (NRI) are increasingly looking to invest in the Indian market and find retirement homes or second homes for travel. In light of these elements, real estate investing in 2024 presents an opportunity to take advantage of market conditions and generate long-term gains.

Describe Bhartiya Urban, its projects, and the reasons behind its prominence as a Bengaluru residential area. 

Bengaluru’s Bhartiya Urban is a massive integrated city constructed close to Hebbal. Spread across multiple districts such as residential, commercial, IT SEZ, hotels/ convention centers, and retail, it is projected to be the largest project of any Indian metro area. The city’s layout blends Indian architectural flairs with international urban planning. 

With features like Central Park, schools, easy access to the airport, and other areas of Bengaluru, Bhartiya Urban hopes to become a thriving center for residential, commercial, entertainment, and cultural activities. With many different formats and price points, the residential options offered under the Nikoo Homes brand appeal to a diverse group of Indian families.  

What do you think the future holds for the real estate industry for trends? 

I aim to reinvent Indian urban living by developing integrated townships and residential projects. Our attention is now more on creating entire ecosystems, which includes beautiful homes, meeting people’s varied needs, and fusing modernity with sustainability and communal living. 

Here’s how to update your name on the MCGM portal property tax records.

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Do you want to update or change the name on your Mumbai property tax records? It is something you can easily do via the MCGM portal. You can expedite the process using our thorough guide, which covers everything from obtaining the necessary information to utilizing the portal. Continue reading to find out how to register, log in, and change your name in property tax records on the MCGM portal. 

Concerning the MCGM portal 

Residents of Mumbai can pay their property taxes online through the Municipal Corporation of Greater Mumbai (MCGM) portal. On the MCGM website, property owners in the city can also conveniently access and review their property tax details, compute the tax amount and make online payments. This easy-to-use portal streamlines the entire tax payment process for residents and provides essential information on property tax exemptions and regulations.

How can I sign up and access the MCGM portal as a user? 

The following instructions will walk you through the process of creating an account and logging in to the Municipal Corporation of Greater Mumbai (MCGM) portal: 

Step 1: Go to the MCGM website. 

Step 2: To register as a new user, the current or new users should click “For Citizens” on the homepage, as shown below. 

Step 3: A drop-down menu allowing new and existing users to register will show up when you hover over the “For Citizens” tab. Under “Pay,” pick the “Property Tax” option. 

Step 4: Click the “Skip” button when the “Timeline for updating property records” image appears. 

Step 5: The “Citizen Portal Services Property Tax” will be the destination for new and returning users. 

Step 6: The new user will select “KYC non-reg. User” from the homepage. The BMC User Login is exclusively for BMC employees; the current user, however, will choose “Citizen Login.” 

Step 7: The current user will click “Login” after entering the “Captcha” and “Property Account No.” They’ll have to go to the dashboard where the current user can use the MCGM portal’s services. The new user will select a category, choose the file document, and click “Submit” after entering their “Property Account Number,” “Name,” “Email ID,” and “Mobile.” 

The user’s newly registered mobile number will receive an OTP. The new user will enter the OTP in the box in the subsequent step during the last stage of user registration on the MCGM portal. After registering on the MCGM portal, they can promptly check and pay their property tax in Mumbai. Let us now examine the process of updating the property tax name on the MCGM portal. 

How can I update my name on the MCGM portal for property taxes? 

There are two ways you can use the MCGM portal to change your name for property taxes: 

Modify the name in Mumbai property tax through the SRO office Modify the name on the MCGM portal for property taxes.
It will be necessary for the applicant to visit the Sub-Registrar’s office to change the name of the property tax in Mumbai. SMS, email, or postal notification will arrive to the applicant.  The change of property tax name through the MCGM portal is only applicable in recent cases. 
From the date of the request, the alteration will occur within three working days. 

In conclusion, Mumbai residents can pay their property taxes quicker and effectively thanks to the MCGM portal. Mumbai residents can manage their property dues with the help of this portal, which allows them to update property details, calculate tax amounts, and change names.