Mangalore Property Tax: All-Inclusive Guide

Posted on January 16, 2024 by supriya

The Mangalore City Corporation (MCC) has raised the rates of property taxes in Mangalore for both residential and vacant land plots. There have been many complaints to the authorities about the increased tax rates on undeveloped land and plots. If you own a home in Mangalore, read this article for the most recent information on property taxes, deadlines, and rebates.

Property taxes are one of the sources of revenue for the Mangalore City Corporation (MCC). These revenues support infrastructure growth and also the efficient operation of public facilities. These revenues support infrastructure growth and also the efficient operation of public facilities. The unit area system serves to calculate taxes for homes in Mangalore.

The MCC has recently written to the Karnataka government requesting a reduction in the tax increases for vacant plots under the Self-assessment Scheme (SAS). There was opposition to the government’s decision to impose a 0.2-0.5 percent tax on vacant land. It is because the Mangalore property tax regime has a determined effect on low-income families, who own over 50% of the undeveloped land outside of the city.

You can review the previous revisions to the property tax for residential and commercial properties made by the state authorities below:

Mangalore’s MCC property tax rate in 2024

The Mangalore property tax is set for each property type by the Mangalore City Corporation (MCC). The properties fall into three categories: non-residential or non-commercial use, commercial, and residential. The corporation reports that property taxes range from 0.20 to 1.50 percent.

Type of Property	Mangalore property tax rate
10A residential use	0.50 percent
10B commercial use	1.50 percent
10C non-residential/commercial use	1 percent

How can I pay my property tax online in Mangalore?

The steps that follow are available to pay the property tax in Mangalore online:

Step 1: Go to MCC’s official website.

Step 2: Click the “Pay Property Tax” link on the home screen.

Step 3: Enter your registered mobile number and submit the OTP in the corresponding field.

Step 4: Select the door and ward numbers at this point, then look for the property. Select “Pay Tax” to proceed to the following page.

Step 5: To find out the applicable tax value for the current fiscal year, applicants can utilize the calculate tax button.

Step 6: Select “Yes” or “No” to indicate whether the property has changed.

Step 7: Examine the comprehensive summary of the SAS to comprehend the property details and the estimated tax amount.

Step 8: Choose the method of payment from the available options. After making the last payment, download the challan for your records.

What is the deadline for Mangalore’s property taxes?

The final week of April 2024 is when the Mangalore property tax is due online.

What is Mangalore’s property tax rebate?

According to the most recent order, a 5 percent rebate is available to anyone who pays their Mangalore property tax online before the deadline or in advance. The rebate will be equivalent to the property’s entire value.

Mangalore property tax calculator

The online calculator on the official website calculates the total tax on a property in Mangalore. These steps can help streamline the Mangalore property tax calculation process.

Step 1: Go to the MCC official website at https://www.mccpropertytax.in/WebPortal/

Step 2: Select the ‘Pay Property Tax’ link from the home screen.

Step 3: Enter and send in the mobile number you registered.

Step 4: Look over the details of your property and click the “Calculate Tax” button.

Step 5: At this point, provide information on the homepage, including your mobile number, email address, property ID, select village, street name or number, Katha number, survey RS number or survey TS number, locality or company name, and pincode.

Step 6: Choose the rented or self-used property and press “Yes” or “No.”

Step 7: Select the property type and then the category type.

Step 8: Enter the plinth factor, total build-up factor, area of land occupied in square feet, and site area in cents.

Step 9: Select the type of property, door number, slum status, and status of exempt property.

Step 10: To calculate property tax, add the floor details, construction type, market value, and year of construction.

Mangalore property taxes are due in advance.

In Mangalore, paying property taxes in advance allows one to do so before the annual deadline. A five percent rebate on the total value is the primary benefit of paying tax in advance. Current regulations also state that individuals who pay advance tax after the tax rate is revised will have their payments adjusted in the following fiscal year.

How to amend your name on your Mangalore property tax

The procedure for renaming the asset may begin by submitting several documents. The supporting documentation includes a copy of the associated housing society’s No-Objection Certificate (NOC), the most recent property tax receipt, and an attested copy of the sale deed. After submitting the request, the officials will review the supporting documentation and grant approval within 15 to 30 days.

How can I get a receipt for my property taxes paid?

Residents of Mangalore can download their property tax receipts from the official website.

Step 1: Go to https://www.mccpropertytax.in/WebPortal/, the official MCC website.

Step 2: Select the ‘Pay Property Tax’ option from the homepage.

Step 3: After posting this, type in your registered cell phone number and send it in.

Step 4: Click the search button after entering your door and ward number.

Step 5: Print the property tax payment receipt for your records at the end.

The most recent information and news regarding Mangalore’s house tax

The guidance value of immovable property is to increase by thirty percent, per an order from the Karnataka government. This rate is subject to annual revisions in the Property tax in Mangalore.
Upon adding 30,000 properties to the tax net, Mangalore City Corporation will have a total of 2.13 lakh properties to tax.
MCC will levy taxes on vacant land in March 2023 equal to 0.3 to 0.5 percent of the total land value by the state government’s revisions to the property rates in Mangalore, which had been set at 0.5 to 1.5 % of taxable capital.

In conclusion, timely property tax payments in Mangalore contribute to the upkeep of a spotless record in the official records. Property taxes can be paid online or at the physical municipal centers that have been designated as such. Taxpayers’ overall burden is lessened by obtaining rebates and discounts when they pay their taxes ahead of schedule.

Why do homebuyers favor low-rise buildings over high-rises?

Posted on January 16, 2024 by supriya

Homebuyer’s preference for low-rise properties has grown, indicating a shift away from the tall buildings that characterize urban landscapes. Living in one of these is usually more personal and focused on the community because the buildings are typically smaller in number. Low-rise housing provides a welcome diversion from congested, airless urban areas! This trend is here to stay!

For many years, high-rise projects have dominated the urban building typology; however, lately, this has quickly changed, with low-rises emerging as the preferred option. The urban building typology was dominated for a long time by high-rise projects, but in the last few years, low-rises have become the more popular choice. Low-rise housing arrangements have seen a significant resurgence since the COVID-19 pandemic due to the growing demand for large homes, a laid-back lifestyle, and community living. Developers are capitalizing on this trend at a rapid pace. Unquestionably, buyers remain attracted to amenities, but they also value privacy and a caring environment for their loved ones, two things that low-rise buildings provide.

Let us examine in more detail the growing appeal of low-rise projects.

According to the Indian Building Code, low-rise housing technically refers to buildings up to 15 meters tall with ground plus four floors (G+4). In contrast to high-rise complexes, low-rise buildings house fewer people and have fewer towers. Low-rise buildings offer residents a more personal and community-focused living environment because of their smaller height and fewer residents. These often include extra-large living rooms, distinct entrances, and sometimes even private outdoor areas like patios and gardens.

Low-rise developments are typically small-scale endeavors performed primarily by local or homegrown developers. Given the new circumstances, homebuyers have demonstrated a striking shift in preference for these projects, demonstrating that quality and renown are not the only factors. Low-rise projects are rapidly gaining favor because buyers are now more interested in the community living, amenities, and exclusivity that these projects offer.

One developer based in Delhi NCR that has several noteworthy low-rise projects on the Golf Course Extension Road is the Nitara Group. The developer has several builder floor projects open in 3 BHK, 4 BHK, and 5 BHK configurations. With sizes ranging from 342 square yards to 1200 square yards, these residential projects have Simplex, Duplex, and Triplex builder floors.

Within Sector 63A of Gurgaon is a noteworthy project of Nitara Homes called Nitara Projects Anantraj. With a carpet area of 1950 square feet, it offers 4 BHK apartments. The building has four levels, and each floor has four units. These residential units have a starting of Rs 3.25 crore.

Growing popularity of low-rise housing

While high-rise buildings have urban settings, luxury low-rise real estate is rising among Gurgaon buyers. Let us investigate the cause of this change.

Security and Safety

The increased security and safety of low-rise housing is one of its main benefits. Because gated communities are less vulnerable to structural damage than tall high-rises, they assure natural disasters like earthquakes. In high-rise buildings, elderly and young people may encounter difficulties navigating the staircase if elevators are malfunctioning or undergoing maintenance. This problem virtually vanishes because low-rise housing arrangements have limits to four stories. Low-rise developments also have far more controlled and thorough entry and exit security checks because fewer people reside there.

In all of its housing projects, Nitara Group provides features like seismic zone IV-complaint structures and three five-tier security systems to allay residents’ fears about their safety.

Elevators may become stuck, people may fall from great heights, etc. Low-rise housing is the best choice in these situations because it allows them to remain close to the ground without making them feel uneasy or afraid.

Greater value at resale

Low-rise buildings frequently have higher resale values than high-rises. Low-rise living offers privacy and exclusivity, which appeals to buyers and makes these properties more desirable in the resale market. These homes’ ongoing needs contribute to their increasing value over time.

Reduced upkeep expenses

Since low-rise housing is more energy efficient, it also has lower maintenance costs, which is another factor that works in its favor. Against high-rises, which create extreme weather conditions that need constant maintenance, like air-conditioning and higher electricity usage, low-rises ensure a balanced temperature and less energy consumption. Also, other maintenance costs are typically easier to handle in a building with fewer floors and a smaller footprint. Homebuyers who want to benefit from homeownership while reducing long-term costs will find this appealing.

Natural views and housing with low-density

Compared to high-rise structures, low-rise developments provide a low-density living environment where residents have more space and fewer neighbors. It produces a calm and serene atmosphere that appeals to people who prefer a more sedate way of life away from the bustle of busy skyscrapers.

Additionally, these arrangements offer greater exposure to nature than high-rise communities, where many towering buildings obstruct the views of the outdoors. Although low-rises have existed for ages, buyers are now taking notice of them due to the chaos of the city, the high pollution levels, and the health risks associated with COVID-19. It has forced them to settle in environmentally friendly properties.

Large Room

The abundance of large rooms is one of the benefits of living in a low-rise. Low-rise projects have comparatively larger spaces than high-rise projects, where rooms are typically ten by 10 with built-in amenities like wardrobes in many cases. Nitara homes, for example, have rooms that measure 13’3x 10’6” and 11’6 x 13’6”; However, they do not include large balconies that are 6’ broad. The lobby areas outside the apartments are large and spacious, with wide walking passages, because they have fewer units per floor.

Specifically, residents benefit from larger living spaces, which make their homes feel more comfortable and accommodating on each floor. Those looking for space to live and unwind will find this feature appealing.

Cohabitation in gated communities

Many low-rise housing projects, like Nitara Homes, prioritize community living within gated societies. These communities frequently have common areas, shared resources, and a feeling of community among the people living there. In addition to promoting social interactions and a sense of community, this creates a close-knit environment.

Range of personalization

One more advantage of low-rise homes is that they are adaptable. Real estate buyers can personalize their living spaces by putting in gardens or outdoor spaces. This level of personalization allows residents to tailor their homes to their preferences and way of life.

Reduced strain on infrastructure

Because fewer people use the parks, elevators, lounges, clubhouses, swimming pools, and parking spaces, among other amenities, high rises to low rises put less strain on the infrastructure. An area’s population growth would inevitably result in more traffic and a burden on public services.

In conclusion, the growing popularity of low-rise housing is a reflection of consumer’s shifting tastes. For those looking for a unique, more customized living experience, low-rise living is appealing because of its safety, security, large rooms, community living, lower maintenance costs, higher resale value, and customization options.

Institutional real estate investments in India reached a five-year low in 2023.

Posted on January 16, 2024 by supriya

Institutional investments in the Indian real estate market decreased by 12% in 2023 to $ 4.9 billion in 2022. According to data released on Thursday by workplace solutions company Vestian, it is the lowest investment in the sector since 2019, when it was $ 6.5 billion.

It emphasized the caution investors demonstrate in the face of global challenges. From $3.9 billion in 2022 to $2.7 billion in 2023, foreign investments decreased by 30%. Its portion of institutional investment overall fell from 79% to 65% in the previous year.

With 72% of their investments in this sector, foreign investors concentrated more on commercial assets. The industrial and warehousing sectors came in second, accounting for 15%.

Nonetheless, domestic investors remained confident in the industry; total investments doubled to $1.5 billion in 2022 from $ 687 million. The share of domestic investors increased to 35% in 2023 from 14% in 2022.

Domestic investors allocated 42% of their investments to commercial assets. Thirty-nine percent of residential projects came next.

“The optimism of domestic investors kept the real estate market buoyant as they continued to show confidence in India’s growth story,” said Shrinivas Rao, chief executive officer at Vestian.

In part, due to the cautious nature of foreign investors, the co-investment also saw a 95% decline, from $360 million in 2022 to $18 million.

Previous data from Colliers revealed that institutional investments in the industry decreased during the October-December quarter. During the quarter, these investments totaled $822.3 million, a 37% decrease from $1,299.40 million during the same period last year.

Vestian anticipates that institutional investments will return in 2024 due to the Indian economy’s robust pipeline of planned infrastructure projects.

New asset classes are causing the Indian real estate market to explode. As the market expands, so does the need for funding. Rao believes that an increased need for capital could lead to a high return on investment for investors.

“As investors anticipate high returns, they may inject capital into the sector, resulting in further growth and expansion, thereby driving the need for higher capital investments.”

How can a registered mortgage help the borrower as well as the lender?

Posted on January 16, 2024 by supriya

Can you imagine buying or refinancing a home in today’s day and age without a mortgage loan? What happens if the borrower does not make loan payments as agreed? Banks and other financial organizations now require collateral for every loan to prevent these undesirable circumstances. It is where the idea of filing for a mortgage becomes relevant. A registered mortgage: what is it? We are here to explain.

The days of banks authorizing large loans without any inquiries are long gone. To safeguard their investment and best interests, banks today need security. As a borrower, you give your banks a Deed of Trust when you register a mortgage, enabling them to invest in you and your property without concern. By now, you must be eager to find out more about registered mortgages and the hazards involved. The advantages and disadvantages of registering a mortgage, as well as the steps involved in applying for and removing one, will all be covered in this article.

A registered mortgage: What is it?

“Registered mortgage” refers to a legal document that serves as loan security. In other words, banks have more control over the collateral or real estate when a mortgage is registered. Lenders can protect their investment by obtaining a claim on the property if the borrower defaults on the loan. In India, details about the property are in the land records, and the mortgage is filed with the regional Registrar of Assurance.

Upon registering a mortgage, what happens?

A registered mortgage charges for the property, giving the lender the right to sell it to recoup the balance owed on the loan. Paying a fee determined by the property’s value and submitting the required paperwork is part of the registration process.

However, the benefits of mortgage registration extend beyond the lender. The borrower can use this as proof of ownership and reliability while it guarantees the lender a legal claim.

How does one register for a mortgage online?

With the advent of online registration, the mortgage registration process in India has become more convenient and easy. Nowadays, people can register their mortgages online, doing away with the need for paper documents and trips to government offices, are as follows:

Step 1: Register for an account

Make an account on the relevant authority’s official website. Fill out the necessary information and finish the registration process.

Step 2: Complete the application.

Enter the required information, including the tenure, interest rate, loan amount, and property details.

Step 3: Add files

Provide the scanned copies of all the necessary paperwork, such as proof of address, proof of identity, proof of income, and proof of property.

Step 4: Remit the fees:

Make the online registration fee payment now. The loan amount and property value determine how much the fee is.

Step 5: Acceptance and confirmation

Following the application’s submission and payment of the necessary fees, the relevant authority will review the information and supporting materials.

Following the completion of the verification, they will approve the mortgage registration.

How Can a Mortgage Registration Be Removed?

The crucial step of removing mortgage registration is to release the property from the mortgage and all encumbrances. To delete your mortgage registration, follow these steps:

Step 1: Get a certificate of no objection (NOC)

You must first receive a No Objection Certificate from the lender. This document attests to the fact that the loan has been fully repaid and that there are no outstanding balances.

Step 2: Gather the necessary documentation

Assemble the required paperwork, such as the loan agreement, the original sale deed, and the NOC. Ensure that every document is in multiple copies.

Step 3: Go to the Office

Go to the Sub-Registrar’s Office, the location of the mortgage registration. Send the paperwork and cover the necessary costs to start the removal process.

Step 4: Await authorization

The Sub-Registrar will conduct a thorough examination and verify the documents. They will authorize the removal of the mortgage registration if everything is in order.

Step 5: Make record updates

It is imperative to promptly update the property records with the updated status following the removal of the mortgage registration. It guarantees that there are no encumbrances on the property.

You can successfully remove mortgagee registration and obtain a clear title to your property by these steps.

Let us now answer the initial question: What is a registered mortgage? As long as the borrower and the lender have documentation of the collateral and the payments made against it these mortgages are legally enforceable. A registered mortgage does not provide total security and protection from assets.

Property values and market conditions constantly shift, and legal proceedings to retrieve the money or asset could result from a loan default. We advise speaking with a real estate or tax specialist before applying for any mortgage.

All the information you require regarding SUC in real estate taxes

Posted on January 10, 2024 by supriya

With initiatives like the Swachh Bharat Abhiyan taking the world by storm, India is looking at more progressive ways to maintain its cleanliness and environmental sustainability. SUC, or Street Waste Management User Charges, is one such program run by the regional government. This article will examine the meaning, objectives, advantages, and modifications of SUC in property taxes.

Restructuring effective waste management practices has long been a top priority in India. Street Waste Management User Charges, or SUCs, are an efficient solution devised by local municipal or governing bodies to control this expanding issue. However, what is the state of waste management in India’s cities for residential and commercial properties? What prospective homeowners and property owners should know about SUC in Indian property taxes is provided here.

Property tax SUC: Interpretation

The charges imposed by the Indian local government for collecting and disposing of waste produced by homes and businesses are known as “usage fees for street waste management.” The purpose of these fees is to guarantee city cleanliness and encourage appropriate waste management practices.

It is significant to remember that these fees are only applied to waste management services and are not related to property taxes. User fees generate revenue to fund waste collection vehicle maintenance, hire sanitation staff, and carry out waste segregation and recycling programs.

SUC in real estate taxes: Advantages

Among the advantages of putting SUC into practice are:

Environmental sustainability: User fees help create a kinder, healthier environment by supporting waste management programs. Effective waste management reduces pollution, halts the spread of disease, and safeguards the environment.
Cost-cutting: Efficient waste management minimizes the workload for municipal governments and lowers the total cost of removing waste. It could lead to lower taxes and more efficient use of public funds for other development projects.
Job creation: A sizable portion of the population can find work in the waste management industry. The money from user fees funds employment in facilities that handle waste treatment, recycling, and collection.

SUC for real estate taxes: City Specific fees

In India, different cities have different user fees for managing street waste. Here are a few significant numbers:

Mumbai

Depending on the type of property, users in Mumbai are responsible for paying for the management of street waste. For instance, monthly fees for residential properties are approximately Rs 60, whereas commercial property fees are contingent upon the use of the property.

Delhi

In Delhi, the built-up area of the property determines the user fees for managing street waste. The MCD states that the monthly cost for residential properties ranges from Rs 50 to Rs 200, and for commercial properties, it can range from Rs 100 for street vendors to Rs 5,000 for clinics, marriage halls, exhibitions, and the like.

Bangalore

Bangalore uses a different strategy of user fees for street waste management. Residents of Bangalore pay their user charges combined with their monthly electricity bill instead of choosing a separate user charge. The monthly fee for residential properties ranges from Rs 30 to Rs 500, whereas the cost of commercial properties varies from Rs 75 to Rs 1,200.

Chennai

Based on the annual rental value and the purpose of the property, user fees for street waste management vary in Chennai. Monthly fees for residential properties can range from Rs 10 to Rs 100. Commercial or religious buildings (such as temples or wedding halls) can cost anywhere from Rs 300 to Rs 15,000, depending on their intended use.

It is crucial to remember that these fees could alter depending on the rules set forth by the local municipal corporation. It is best to speak with the relevant municipal corporation or a real estate advisor for the most accurate and current information.

SUC in real estate taxes: 2016 revision

The Ministry of Environment, Forests, and Climate Change in India introduced the new Solid Waste Management Rules (SWM) in 2016 in response to the nation’s growing concerns about solid waste management. Unlike the SUC rules, the amended regulations concentrate more on donations that cross municipal boundaries. Among the new regulations’ primary points are:

Separation at the source

The regulations stress how crucial it is to separate waste at the source. It facilitates material recycling and rescue while also helping in effective waste management.

Processing and handling of waste

The SWM regulations promote the construction of facilities for the processing and treatment of waste. By assisting with the appropriate handling and disposal of waste, these facilities lessen the load on landfills.

Extended producer responsibility (EPR): This encourages manufacturers to adopt eco-friendly packaging and recycling practices.
Waste-to-energy facilities

Additionally, the rules encourage the construction of waste-to-energy facilities. By converting waste into energy, these plants lessen reliance on fossil fuels and help to maintain a cleaner environment.

In conclusion, many Indian urban areas that have struggled with waste management have found that introducing user fees for street waste management has been a godsend. In addition to the SUC property tax levies, solid waste management laws have the additional purpose of improving how effectively waste management and disposal. We advise contacting the local municipal authorities to learn more about the expenses and rules governing waste management in your neighborhood.

Property prices in this category are among the highest in India.

Posted on December 16, 2023 by supriya

India moved up eighteen places to take 14th place in the third quarter of 2023 on Knight Frank’s global house price index. The nation’s home prices rose 5.9% annually, creating a notable upward momentum.

In September 2023, the average annual growth rate for home prices in the 56 markets that compose Knight Frank’s Global House Price Index was 3.5%. The previous quarter saw a 2.2% increase in worldwide home prices.

According to Knight Frank, India’s steady economic growth is the reason behind the country’s rising residential market despite obstacles like increasing home loan rates and inflationary pressures. State and federal governments offered assistance during the pandemic, which sparked the market.

As per Shishir Baijal, CMD of Knight Frank India, “strong internal economic fundamentals, rising aspirational qualities of residential real estate, and an elevated interest cost environment brought on by elevated levels of inflation are driving heightened demand among homebuyers in prominent residential markets within the country.”

Emerging residential hubs in India’s urban centers are made possible by the increased momentum infrastructure development is receiving from the country’s increasing urbanization, according to Bajijal.

The Indian housing market has been strong despite price increases. Compared to 3.65 lakh units in 2022, as many as 3.49 lakh units were sold in the top 7 cities by the end of the third quarter of 2023.

At the same time, the total sales value of the sold housing stock increased marginally to Rs 3.48 lakh crore. The value of all residential property sales in the first nine months of 2023 is already 7% more than the entire year of 2022.

After a five-to-six-year period of stagnation, real estate value began to decline in 2013. It was a period of tepid demand. But after COVID, we saw a significant resurgence in demand that exceeded the previous peaks, according to Poulomi Estates MD Prashant Rao.

Pent-up demand, the need to upgrade, and a willingness to pay for newer features were key factors driving up property prices. Property prices also rose due to infrastructure development and improvements in the economic environment. Even though real estate prices increased dramatically across the nation, Hyderabad consistently outperformed other top cities year over year. It’s since the city has seen an increase in corporations moving their headquarters there. We anticipate this trend continuing.

The first quarter of 202 saw Turkey at the top of the rankings. With an annual growth rate of 89.2%, this is another year of record growth. The top five rankings belong to countries in southeast Europe, including Greece (14%), Croatia (13.7%), and North Macedonia (11%).

With 6.3% annual growth, Japan leads the Asia-Pacific region, followed by India with 5.9%.

Given the rising costs for mortgage borrowers, the resilience of global house prices is surprising; however, market supports include solid savings, pay settlements above inflation, and a shortage of stock available for purchase. The main problem facing the housing markets in 2024 will continue to be low market liquidity, with sales volumes falling by up to 25% from their recent peaks. “Only a move toward lower interest rates will boost sales activity,” stated Liam Bailey, Knight Frank’s global head of research.

Homes under Rs 50 lakh in Delhi NCR

Posted on December 14, 2023 by supriya

With its towering housing stock and upcoming infrastructure projects, the National Capital Region (NCR) presents an intriguing lure for prospective homeowners. This area has numerous housing options, from affordable homes to opulent, high-end residences. Nonetheless, Propertywala.com offers you a list of some of the best locations to invest in Delhi NCR for less than Rs 50 lakh, all while keeping your budget in mind.

Many new locations have gained prominence lately as the Delhi Metro expands into far-flung parts of the National Capital Region (NCR). Other factors that have contributed significantly to growth include the launch of affordable housing projects, better road connectivity, and a greater emphasis on infrastructure. “National Highway (NH)-24, Greater Noida, Greater Noida West, and Yamuna Expressway are some of the best locations for homebuyers in Delhi NCR,” says Suresh Garg, CMD of Nirala World and Secretary of CREDAI Western UP. End users are now driving the market, so developers are concentrating on keeping it going by providing affordable homes in these areas. Infrastructure development has also had an impact on real estate expansion. “For those looking to purchase a home in Delhi NCR for less than Rs 50 lakh, these are the top five neighborhoods.

NH-24 (National Highway -24)

NH-24, sometimes known as “the lifeline of Ghaziabad,” has been an essential catalyst for growth in several communities along its path. “Siddharth Vihar, close to NH-24, is a developing area that meets the demands for homebuyers at reasonable costs,” continues Garg. Housing societies long NH-24 have average property values of approximately Rs 3,700 per square foot, following a nearly 15% YoY price rise. The region has grown by almost 18% over the previous five years, and its potential will continue to increase even more with the impending metro extension in Indirapuram.

Noida Extension (Greater-Noida West)

Greater Noida West, formerly known as Noida Extension, is now a popular option for reasonably priced real estate. The extension of the metro link from Noida to Greater Noida has been one of the primary factors driving the region’s growth. Additionally, some of the earlier worries of home buyers have been put to bed by the resolution of land acquisition issues. Prominent developers, including Gaurs Group, Mahagun Group, and Ace Group, have created several affordable housing projects in the region, and the pace at which the infrastructure is developing there is astounding. The development of Jewar Airport and the connectivity provided by the Noida-Greater Expressway have improved the area’s positive aspects. “The proposed commercial development, the metro terminal at Bodaki, and the Delhi-Mumbai Industrial Corridor (DMIC) project promise to create a lot of job opportunities in the region, which would further boost its real potential,” states Ashudeep Batra, vice president of operations at Exotica Housing.

The most popular configuration is the 2 BHK, with average prices rising by nearly 50%, from Rs 4,500 per sq ft square to 5,800 per sq ft.

New Gurgaon

Sectors of New Gurgaon are suitable for end-use and investment due to their strategic location and connectivity via NH-8. In addition, building the Delhi-Mumbai Industrial Corridor (DMIC) could contribute to the region’s expansion. Between Sectors 81 and 95, the entire area is currently seeing the construction of numerous residential and commercial projects. As the city’s civic infrastructure improves, New Gurgaon will likely become one of the most sought-after neighborhoods. The home values in the micro-market have grown annually by more than 45% and are currently between Rs 5,000 and Rs 6,300 per square foot. The State government’s decision to relocate Kherki Daula Toll Plaza to Pachgaon would help alleviate the area’s heavy vehicular traffic.

The Raj Nagar Extension

The extension of Raj Nagar, like many other parts of Ghaziabad, has been developing quickly. “Over the past few years, Raj Nagar Extension in Ghaziabad has attracted many home buyers looking at quality housing but unable to afford a property in NCR, “says Anuj Goel, Executive Director of KDP Infrastructure. Raj Nagar Extension is a haven for homebuyers thanks to its many upcoming infrastructure projects, better connectivity, and affordable housing developments. It is the hub of industry, commerce, and education in the western United Provinces and has excellent road connectivity. The Raj Nagar Extension links NH 91 and NH-58 via the six-lane Meerut Bypass. In addition, an elevated road connects the township to Delhi. The green belt beside the Hindon River is another major draw.”

Faridabad

Many of the previously remote areas of Faridabad no longer have connectivity issues thanks to the Delhi Mtero’s extension of service from Badarpur to Escorts Mujesar. Investors are showing a renewed interest in exploring different sectors in Faridabad. Nehar Par is one of the neighborhoods experiencing rapid growth, with an average property price of Rs 4,100 per square foot.

Your first-time home-buying checklist in Delhi NCR

If you have this home-buying checklist handy when closing a deal, investing in real estate in Delhi NCR can be profitable! What you should know is as follows:

Delays in possession

Possession delays in metropolitan real estate are a well-known problem. In Delhi NCR, whether you are opening a store in a business district or purchasing your first house, be ready for delays in possession. When there are delays, the builder or developer usually requests an extension of six months. But this problem primarily affects impending and new housing developments; it rarely affects properties for sale.

Potential for resale

Opportunities for real estate are plentiful in a bustling city like Delhi NCR. New developments with better features, amenities, and handy locations. Before completing the purchase of your first property, research the property’s potential for resale and determine whether selling it at a good time will help you financially.

Building Caliber

Shocking footage of a 20-year-old, four-story building collapsing in the Bhajanpura neighborhood of Delhi-NCR flooded media channels in March 2023. Even though no one was hurt, this incident raised questions regarding the quality and standards. Nonetheless, trustworthy developers and builders with proven designs are accessible in Delhi NCR. The three most important factors to consider when buying a property in Delhi NCR are construction quality, development review, and brand value.

The NCR region has seen tremendous change in recent years due to new highways like the Dwarka Expressway and Greater Noida Expressway, along with metro extensions like the Aqua Line and Rapid Metro. Before making a choice, prospective homeowners should perform extensive research and due diligence because the listed area’s popularity is due to numerous factors.

Ahead of The Opening Of The Ram Temple, Boom In Real Estate

Posted on December 14, 2023 by supriya

The home of God Ram, Ayodhya, was once a sleepy town and is undergoing an infrastructure makeover as the much-awaited Ram Mandir will be open in just a few weeks. The city is experiencing a real estate boom, with property values rising sharply. Due to the influx of investors, hoteliers, and business owners, property values in the city have increased by up to three times their initial value.

Local real estate brokers say there are very few left to purchase. “Ayodhya does not have any new land available,” real estate broker Kakku Singh stated.

In the periphery, where rates ought to have hovered around Rs 3,000. The current rates range from Rs 6,000 to Rs 7,000. There is no land around the Ram Mandir. If there is, it has no rate. One can obtain anything they desire, “he continued.”

As of November last year, over 9,000 houses had been solid in Ayodhya. The corresponding figure has increased by over 100% this year. According to data, 20,067 properties have sold this year.

As the inauguration date draws near, the prices have been at their highest.

From about 10,000 lakh in 2018-19, the department’s revenue has increased to Rs 15,631.33 lakh as of November.

As for a percentage increase, the Department’s revenue receipt for November was the highest in the State at 109%.

I get calls from people looking to purchase land to open resorts and hotels. According to Yogendra Pratap, Assistant Commissioner of the Stamp & Registration Department,” Therefore, this has increased the revenue of the Stamp Department.”

The community hopes that the investment will draw tourists and give many of them a source of income.

To capitalize on the rapidly expanding infrastructure, Rajjan Lal, who resides 40 km from Ayodhya, sold his property in the village and purchased a 1000-square-foot plot to open a small cement shop close to Ayodhya.

“There is a possibility of earning a decent living because of the temple construction. Though the rates are also high, I will do business here,” he remarked.

In Ayodhya, the government also intends to construct a 4.40-acre tourism facilitation center. A budget of Rs 130 crore is forecast.

The project will develop several commercial centers in the tourist center, such as a tourist office, lodging, food court, shopping center, art and craft center, and parking area. Soon the project should take off.

By the end of this month, the Ayodhya International Airport will probably be finished, according to Union Aviation Minister Jyotiraditya Scindia.

All the information you require regarding KDA’s new plot scheme

Posted on December 12, 2023 by supriya

The Kanpur Development Authority (KDA) has been working tirelessly to advance the city by building infrastructure and starting housing projects for its citizens. The board recently introduced a new plot scheme to offer affordable homes. Let us examine the program’s specifics, such as the requirements for eligibility and the application procedure.

Kanpur, one of the several cities lining the banks of the Ganges, is the city that epitomizes the typical Uttar Pradesh. Kanpur, a city that combines modern and traditional elements, is well-known for its iconic Green Park stadium and its thriving leather manufacturing industry. Its political fervor and cultural vibe have consistently made headlines.

Due to its constantly shifting setting, the Kanpur Development Authority (KDA) has become a key player, influencing the town’s development. With new initiatives and plans, KDA is committed to offering affordable housing to all families. The article examines a recent initiative of KDA, along with other significant details.

Concerning the Kanpur Development Authority.

One of the parties involved in creating and arranging the city’s infrastructure is the Kanpur Development Authority (KDA). The Housing Development of the Uttar Pradesh government oversees KDA’s operations. The authority actively allocates land for residential, commercial, and industrial uses, among other aspects of urban planning. KDA handles all infrastructure projects that improve Kanpur’s general quality of life. These projects include building roads, drainage systems, and public amenities.

KDA New Plot Scheme: Principal Features

Find out the salient details of this scheme and guarantee your position in the charging urban landscape of Kanpur:

Scheme Heading	FDA’s New Plot Plan
Presented by	Kanpur Development Authority
Year	2023
Recipients	Kanpur locals
Application Process	Online
Official Website	http://www.kdaindia.co.in/en/index.php

FDA’s new plot scheme for 2023: Qualifications and paperwork

Applying for the FDA’s new plot scheme requires the candidate to meet the following requirements:

Applications for the Kanpur Development Authority Plots Scheme 2023 must be at least eighteen years old.
Those who qualify should own property or live close to economically deprived areas of Kanpur.
Potential candidates must be lawful permanent residents of Kanpur or any nearby states.

Entries for the KDA’s new plot scheme must include the following list of documents:

Documents needed for the new plot scheme in KDA

Passport-sized photo

Phone Number

PAN Card

Aadhaar Card details

Voter ID/ Aadhaar card

Caste Certificate

Certificate for the Disabled Category

Income Verification

Details of Spouse’s Aadhaar Card

How can I apply for the KDA New Plot Scheme 2023?

The KDA new plot scheme application process occurs offline. The Kanpur Development Authority has published a notice that includes project details and registration dates.

Applicants must complete an offline application process to qualify for the KDA’s new plot scheme. To purchase the registration booklet, go to the closest HDFC bank branch. The application includes all the forms applicants fill out, and payment must be made at the HDFC bank using a demand draft. The KDA website will then publish the draw outcomes, ensuring openness and accessibility for all participants.

KDA New Plot Plan 2023: Advantages

For the benefit of Kanpur’s citizens, the state government supports a new plot scheme that the Kanpur Development Authority (KDA) is introducing.

The program gives thousands of citizens the chance to obtain permanent residential addresses, giving them a sense of security and community.
The recipients of the program can purchase a plot of land in any designated state area, enabling them to participate in the city’s development and invest in premium real estate.
The program goes beyond the distribution of plots to guarantee housing for thousands of residents and to meet the increasing demand for high-quality living areas.
The KDA’s new plot scheme recognizes the value of community building and holistic urban development, and unlike individual schemes, it aims to benefit entire families.

Conclusion

The 2023 plot scheme, one of the visionary schemes of the Kanpur Development Authority (KDA), embodies the city’s modernization process. With KDA leading the way, the city is starting a sustainable development journey and looking forward to a time when Kanpur’s legacy is kept alive and enhanced for future generations.

The Indian real estate market offers an excellent opportunity for individual investors.

Posted on December 12, 2023 by supriya

It is no secret that the Indian real estate market has seen its fair share of difficulties and volatility, but it has long been a focus for investors. For Indian retail investors, however, who wish to diversify their investment portfolios, it offers a bright future today.

The industry presents an ideal opportunity for retail investors in multiple fields like residentials, commercials, retail, and logistics, with investors seeking to diversify their portfolios and generate sizable returns.

Despite obstacles like the COVID-19 pandemic and legislative modifications, India’s real estate market has proven remarkably resilient. Retail participation has become more accessible due to recent changes like the RERA Act’s implementation and the rise in REITs.

Retail investors now have a significant role in the Indian real estate market, marking a dramatic shift from earlier, when residential properties were their mainstay and a sign of the democratization of wealth. Retail investors will lead the next wave of growth with the ambitious target of a $1 trillion market size by 2030 as India works toward becoming a developed economy by 2047.

Fractional ownership is a new trend that is upending institutional investors’ long-standing hegemony over sizable commercial properties. Like other mutual funds, it enables regular investors to own these assets collectively through pooled investments. Due to its attractive returns, ease of tracking, and benefits for diversification, fractional ownership is becoming increasingly popular.

Various estimates place the value of the fractional ownership market in India at $5.4 billion in 2020 and indicate a robust compound annual growth rate (CAGR) of 10.5 percent to reach $8.9 billion by 2025. This strategy works under SEBI’s regulatory purview, facilitates access to Grade A office properties, and promotes portfolio diversification.

In the past, real estate was an effective inflation hedge. Real estate values typically rise in tandem with the cost of goods and services, providing investors with the possibility of capital appreciation. Additionally, rental income from real estate investments frequently increases with inflation, providing a consistent cash flow.

Retail investors have also shown interest in other investment classes, such as Real Estate Investment Trusts (REITs). Within the stock exchange space, they offer access to Grade A commercial real estate in a transparent, liquid, and regulated way, combining capital appreciation with dividends. There will be more options available in the future. Retail investors can also take advantage of these opportunities by investing in iconic infrastructure assets through infrastructure investment trusts (InvITs). Globally, fractional ownership, REITs, and InvITs are gaining popularity, and India is quickly following suit.

The viewpoint of the Non-Resident Indian (NRI) is highly significant. Remittances from non-resident Indians (NRIs) make India an attractive investment destination due to its strong economic growth and regulatory improvements. They are increasing their investments in high-value commercial assets through REITs and fractional ownership. Additionally, fractional ownership makes emerging asset classes like co-working, co-living, and student housing accessible, offering both domestic retail investors and NRIs exciting opportunities.

Retail investors stand to diversify their portfolios in alternative asset classes as the world’s debt and equity markets struggle with volatility. It coincides with India’s growing disposable income and income levels, making options like fractional ownership and REITs very appealing. These asset classes have momentum and will likely see faster growth over time.

Even though there are many opportunities in the Indian real estate market, retail investors must do extensive due diligence. It entails investigating the industry, comprehending regional dynamics, and evaluating the developer’s standing. Investors should diversify their portfolios, have a well-defined investment strategy, and be ready to make long-term commitments.

Retail investors have a fantastic chance to profit from the future growth potential of India’s real estate market. Investing in Indian real estate can yield significant returns with appropriate research, planning, and risk mitigation. As the industry develops, staying knowledgeable and making wise choices can result in returns, which attracts investors looking to broaden their investment horizons.

Success in real estate investigation requires careful study, wise financial planning, and a long-term outlook, just like in any other investment. When retail investors handle this industry well, they may discover that it becomes a pillar of their investment portfolio, offering growth, income, and stability in a constantly changing financial environment.

India’s Top 8 Housing Markets See 22% Increase in Sales and Bumper Growth: Report.

Posted on December 6, 2023 by supriya

According to the most recent data from PropTiger.com, the top eight residential markets worldwide have shown strong growth, with a 22% in sales and a 17% increase in new supply during the third quarter of the calendar year (July-September 2023).

According to a report published by PropTiger.com titled “Real Insight Residential– July-September 2023,” residential unit sales rose to 1,01,220 in the third quarter from 83,220 units during the same period in the previous year.

All cities saw rises in sales, with the Mumbai Metropolitan Region (MMR) and Pune contributing nearly half of the total volume, excluding Chennai.

The quarterly report tracks eight key housing markets: Delhi-NCR, MMR, Chennai, Kolkata, Bengaluru, Hyderabad, Pune, and Ahmedabad.

Sales information on apartments and villas is part of the data on the housing market. The micro-markets in Gurugram, Greater Noida, Faridabad, and Ghaziabad are all part of Delhi-NCR. Mumbai, Thane, and Navi Mumbai are all part of the MMR.

The business head of PropTiger.com and CFO of REA India, Vikas Wadhwan, stated: “The housing markets in the top eight cities are still expanding. Positive customer sentiment supports the robust demand.”

Pent-up demand, rising disposable income, steady interest rates, and rekindled investor demand were among the main drivers of the sales growth, according to Wadhawan.

According to data from PropTiger.com, Ahmedabad’s year-over-year growth in housing sales is 31% higher, reaching 10,300 units from 7,880 units.
Sales in Bengaluru have registered a maximum growth of 60% to 12,590 units from 7,890 units.
Delhi-NCR saw a 44% increase in sales, from 5,430 to 7,800 units.
Hyderabad saw a 34% increase in sales from 10,570 units to 14,190 units.
Sales in Kolkata have increased by 43% to 36,10 units from 2,530 units.
Due to a higher base, sales in Mumbai have only slightly increased, from 28,800 units to 30.300 units.
Pune’s sales increased by 18% to 18,650 units from 15,700 units.
The only market to see a drop in sales was Chennai, where sales of 3,870 units fell from 4,420 units, a 12% decrease.

“The market is consolidating, with demand centered around reputable developers, which gives homebuyers renewed confidence, especially for projects still under construction. It was not the case a few years ago.”

31% of sales in the Q3 period occurred in the price range above Rs 1 crore, and 14% of units sold were ready to move into.

The chief of research for PropTiger.com, Housing.com, and Makaan.com, Ankita Sood, stated: “Despite global difficulties, Indian real estate markets are strengthening in all major cities. The 22% rise in property sales from July to September and the 17% year-over-year growth in new launches indicate that we are in the midst of a residential real estate upcycle. We predict the holiday season will result in further revenue, perhaps breaking previous year’s records.”

Regarding new supply, Ahmedabad grew the fastest, reaching 16,670 units, while other cities showed erratic trends. Even so, things remained positive overall, with 123,080 new units arriving– a 17% increase across the eight markets.

Mend: Significance & Applicability in Indian Real Estate

Posted on December 4, 2023 by supriya

Terms like “Mend,” common in India’s progressive real estate scene, play a key role in resolving disputes over land boundaries. Using words like “Mend” encourages legal observance and clarity, which makes the real estate industry more efficient and less prone to disagreement.

The number of land disputes has increased significantly in India with the real estate sector’s significant advancements—one of the causes of these conflicts is unauthorized possessions in unclear field boundaries. However, using terminology like “Mend,” one can professionally handle these circumstances. This article explains the true meaning of Mend and its significance in helping prospective buyers and homeowners in India navigate the complex process of buying real estate.

What is meant by Mend?

“Mend” describes a method for restoring or repairing boundaries for real estate and construction. The boundaries of a property are by these lines, which often come from walls, fences, or other natural features.

In addition to repairing physical structures, mending these boundaries entails resolving any possible disputes over land ownership or use.

Mend the applicability of Indian Real Estate.

The idea of repairing field boundaries is crucial in the varied terrain of Indian real estate. It is necessary to mark property boundaries in light of the ongoing construction projects and increasing urbanization.

Resolving property disputes

One workable way to settle ownership disputes involving fields is to mend boundaries. Land is a valuable resource, and disagreements about property boundaries can be prevalent in densely populated areas. A methodical reconciliation procedure supported by legal clarity aids in resolving these conflicts.

Law observance

In Indian real estate law, strict adherence to property laws is essential. Field boundary rectification protects the interests of developers and property owners by ensuring compliance with legal requirements.

Conclusion

The idea of Mend–in particular, the concept of field boundaries– is essential to promoting sustainable and peaceful growth. It includes community cohesion, environmental responsibility, legal compliance, and physical repairs. Let us acknowledge its crucial role in forming India’s progressive real estate future.

Tenant Verification in Ghaziabad: Process, Documents, and Importance

Posted on November 28, 2023 by supriya

Property owners in Ghaziabad can feel more secure about their rental property by using tenant verification services. The investigating authority looks into any criminal history or illegal activity. Tenant verification has grown in significance in light of the rising crime rate. For both landlords and tenants, the process has become simpler with the advent of online tenant verification.

Verifying tenants gives landlords and property owners additional security. It protects your property from illicit, immoral, or forbidden activity.

Tenant verification is vital in Ghaziabad.

Tenant verification is necessary for several reasons before renting your property to strangers. It helps to verify the following:

Background checks: Before renting out a tenant’s property. Landlords should investigate the tenant’s past. They can avoid renting their property to criminals by studying the tenant’s past. If a criminal inadvertently rented your property, they might use it to commit or cover up crimes.
Decrease illicit activity: Tenants know their information is in the local police database. As a result, the likelihood of the tenants engaging in any illegal activity decreases. They are also not permitted to seize or take possession of the rental property.
Property safety: It prevents property from falling into the wrong hands. Because the tenant knows they could face a police complaint at any time if they cause damage, Tenant Police Verification Ghaziabad helps prevent harm to the property. The tenants might feel more socially obligated to pay the rent on time following tenant verification.
Track Identifications: Police verify tenants’ identities using prior addresses. Understanding the nationality of the tenants is beneficial. The landlords can determine whether the occupants of their property are from India or another country.

Ghaziabad’s online tenant verification procedure

The applicant must adhere to the following steps to apply for online tenant verification in Ghaziabad:

Create an account on the Ghaziabad Citizen Services website to register.
Entering the necessary data into the application by choosing “Personal Information” and “Addresses” is crucial.
Upload all files in the following formats: jpeg, doc, docx, pdf, txt, or gif.
Remember to double-check all filled-out details before submitting. Do corrections if required. It is important to remember that you cannot modify submitted forms.
After submitting, use any payment method- credit, debit, or net banking- to pay the processing fee.
Once tenant verification has finished, the police will draft a report, which they will email to you.
By clicking Application Status on the same website, you can check the status of your application.
The email address and registered mobile number will receive the generated report.

Procedure for Police Verification Offline

You must take the following actions if you want to use offline tenant verification:

Go to the Ghaziabad police station that oversees the area where your property lies.
Bring all necessary documentation, including proof of address and identification (passport, Aadhar card, etc.)
Bring a form for tenant verification to the designated police station.
Take the time to review the instructions and fill out all the necessary information.
Fill out the form and bring it to the police station along with the necessary paperwork.
Make the process payment of Rs. 50.

Documents required in Ghaziabad to verify tenants

You must submit an application for online tenant verification along with a few crucial documents.

It is necessary to provide identification of the property owner and tenant, such as a voter card, Aadhar card, driver’s license, passport, ration card, or PAN card.
For the owner and tenant to be able to sign the verification form, passport-size photos of them are needed.
A copy of the tenant’s and owner’s bills, including the electricity bill, can be attached to the form to confirm the tenant’s address and guarantee no unpaid balances before they rent the property.
The owner must produce ownership documentation before the property is available for rental.
A rent agreement is necessary to prevent tenants from acquiring the property. The landlord must draft a rental agreement. A copy of the lease is needed for tenant verification in Ghaziabad, whether online or offline.

Final Thoughts on Ghaziabad Tenant Verification

Tenant verification is now crucial and mandated by law in most cities. Both tenants and landlords can take a few steps to streamline the process. To avoid problems, tenants should give the police and property owners accurate information. Tenant verification in Ghaziabad has gotten a lot easier with the online process. To prevent problems later, landlords should ensure that the verification is correct.

Most growth in this city occurs in the sale of houses exceeding Rs 4 crore.

Posted on November 28, 2023 by supriya

According to a report released today by real estate firm CBRE, sales of luxury houses valued at Rs 4 crore and above rose 97% over the previous year in the seven major Indian cities between January and September 2023.

The report states that Hyderabad, Mumbai, and Delhi-NCR account for 90% of all sales of luxury homes. 13% came from Hyderabad, 35% from Mumbai, and 37% from Delhi-NCR. Pune is responsible for the final 4%.

The desire for higher living standards, a strong economy, rising disposable incomes, and a shortage of luxury homes in large cities all contributed to an uptick in luxury home sales.

According to CBRE, there will likely be additional growth in the sales of luxury homes from the October through the December holiday season. The company anticipates a rise in people purchasing luxury homes for the first time in the October-December quarter.

“A growing Indian economy and rising aspirations are the causes of this spike. Aside from the post-pandemic need for larger spaces, some of the reasons for this surge in luxury home sales are incentives by developers.

According to the CBRE report, there will be a spike in residential sales and new launches in the premium and luxury housing segment due to economic growth, advantageous regulatory measures, and changing lifestyle preferences. It could result in residential sales reaching a 10-year high in 2023.

It further claimed that as buyers look for larger living spaces following the pandemic, developers’ incentives and the introduction of smart home technology are driving the surge in sales of luxury houses.

According to CBRE, this increases the rising demand for luxury properties among high-net-worth individuals (HNIs) and non-resident Indians (NRIs) looking for safe and lucrative investment opportunities.

These patterns imply that the Indian real estate market is seeing the growing importance of luxury residences.

The Dubai Real Estate Show honors Indian leaders and the expansion of the industry.

Posted on November 28, 2023 by supriya

The JW Marriott Marquis Hotel in Business Bay, Dubai, hosted the 4th Edition of the Indian Real Estate Show (IRES) 2023, which took place over two days on November 25 and 26 and included investments in Khaleej Times & Realty + and powered by VTP Realty. The event included a conference and exhibition showcasing Indian real estate’s profitable investment potential.

Leading Indian real estate developers, including Birla Estates, Balaji Technocity, Hero Realty, VTP Realty, Godrej Properties, Tata Realty, and Provident Housing, were there at the exhibition.

Majid Al Marri, CEO of the Dubai Land Department’s Real Estate Registration Sector, officially opened the UAE-India Real Estate Show 2023.

The partnership between two prominent media groups in the UAE and India, plus its contribution to the real estate industry of both countries, was highlighted in Michael Jabri-Pickett’s welcome address as Editor-in-Chief of Khaleej Times.

During his keynote address, Satish Kumar Sivan, the Indian Consul General to Dubai and the Northern Emirates, stressed the importance of the government of the United Arab Emirates and India working together to promote economic opportunities and support each other. “Real estate is one of the main drivers of the economics of India and the United Arab Emirates, and events like these can encourage cooperation between policymakers and decision-makers while increasing public awareness,” he said.

India Club, UAE Taxation Society, Gulf Maharashtra Association, Institute of Chartered Accounts-Dubai, All Kerala Colleges Alumni Forum, Jain International Trade Organization (JITO), IBPC-Business Group, and Rajasthani Business all supported the event. The community members gave the organization the most traction.

The event’s main draw was the awards given to notable Indian real estate leaders. Michael Jabri-Pickett, Editor-in-Chief of Khaleej Times; Majid Al Marri, CEO of the Real Estate Registration Sector, Dubai Land Department; and Satish Kumar Sivan, Consul General of India to Dubai and the Northern Emirates, presented the awards.

The following recipients of the Iconic Leaders of Indian Realty Awards from IRES 2023:

Sankey Prasad- Global Indian Icon of the Year

Sachin Bhandari- Visionary Business Leader of the Year

Pradeep Agarwal- Affordable Housing Leader of the Year

Dharmesh Shah- Innovative Real-estate Entrepreneur of the Year

Discussions on knowledge-sharing took place during the concurrent conference at IRES.

The speakers, Sachin Bhandari, ED and CEO of VTP Realty, and Shajai Jacob, MD& Country Head- Apna Complex & Anacity, Anarock Group, discussed the prospects and potential of real estate investments with Sapna Srivastava, Editor Realty. They also discussed the advantages of different real estate classes in India for foreign buyers and investors, the issues that need addressing for post-sales services to NRIs, and the various factors to consider when investing in India.

India needs an additional 2 billion square feet of healthcare space: Knight Frank.

Posted on November 23, 2023 by supriya

According to a report released on Thursday, India requires 2 billion square feet of healthcare space to accommodate its 1.42 billion-person population. As required by the World Health Organization (WHO), India currently has less than two million beds.

The Global Healthcare Report from real estate consulting firms Knight Frank and Berkadia states that India has 1,3 beds per 1,000 people, including public and private facilities. The WHO says that it ought to be three per 1,000.

It is substantially less than 13 in Japan, 4.3 in China, 2.9 in the USA, and 2.5 in the UK.

Considering how quickly the Indian healthcare market is expanding, this gap is critical. The Indian healthcare market will probably be worth $ 372 billion in 2022, a substantial increase from $73 billion in 2012.

Moreover, the industry’s size is expanding at a rapid rate due to two factors. First, the World Bank reports that India’s population growth (1.42 billion) exceeds that of China (1.41 billion). However, the official figures are uncertain because the Centre has yet to undertake the Census exercise first scheduled for 2021.

Secondly, India is one of the most popular medical tourism destinations, making further investment in this field necessary.

Between 2014 and 2019, the number of foreign visitors with medical visas increased by 30% annually in the pre-pandemic years. Of 46 international travel destinations, India ranked tenth in the Medical Tourism Index (2020-21). In 2022, the Center also launched the “Heal in India” campaign to promote medical travel.

The report’s data indicates that India offers significantly cheaper medical procedure costs than its Asian counterparts. For instance, the cost of a coronary artery bypass is $ 17,200 in Singapore and $ 26,000 in South Korea. In India, it costs $7,900.

A different operation, replacing a heart valve, costs $39,900 in South Korea, $ 17,200 in Thailand and Turkey, $ 16,900 in Singapore, and $ 9,500 in India. In South Korea, knee and hip replacements cost $ 21,000, while in Thailand, the same procedure costs $ 17,000. It costs $ 7,200 in India.

Knight Frank India chairman and managing director Shishir Baijal stated, “To adequately meet the expanding healthcare requirements of the population, addressing this demand necessitates nearly doubling the current real estate capacity.”

“Healthcare is one of the main options for investors seeking long-term income-generating investments after the pandemic.”

The report states that the industry anticipates strong demand due to shifting global demographics.

“Despite a grim economic outlook, the global healthcare sector is still growing and is predicted to continue doing so. It coincides with the fast aging of the world’s population, which will continue to increase demand for elderly care beds, especially for full-time nursing care provided in specialized facilities,” the report stated.

Using PEB Structures to streamline construction methods

Posted on November 22, 2023 by supriya

Envision a cutting-edge structure, prefabricated and prepared for on-site assembly. You see that kind of construction technique only sometimes! Pre-engineered buildings, or PEB structures, are all the rage due to the rising demand for creative yet affordable construction! However, what are its benefits, and how can pre-structured be designed and built? Let’s find out!

A customized building can be an intriguing idea in a world where customization is essential to everything! Nevertheless, the method and schedule depart from conventional building practices. This article examines pre-engineered buildings and covers their design approach, uses, benefits, and drawbacks. Let us begin with a fundamental explanation of a PEB structure.

What is a PEB structure in the building industry?

Pre-engineered buildings, or PEBs, are constructed using a contemporary technique utilizing building components designed and prefabricated in a factory. These parts or components use bolted connections after being transported to the construction site. Additionally, these have a variety of uses, including commercial buildings, factories, and warehouses.

What are a PEB structure’s benefits and drawbacks?

Similar to any innovative concept, the PEB structure has pros and cons. The table below compares the two to help you better understand this concept.

Advantages

PEB structures lower labor costs and material waste through consistent layouts and efficient manufacturing techniques, which reduces overall costs.
Rapid on-site assembly can cut projects in half using standardized parts and advanced manufacturing techniques.
PEB structures are known for their remarkable structural strength and ability to support large weights and seismic activity.
PEB structures are a good value for long-term ownership because they require fewer repairs than traditional buildings.
PEB structures use recyclable materials and reduce construction waste to promote environmental responsibility.

Disadvantages

In contrast to traditional models, PEB structures have less customization because they evolved using standardized modules.
Although PEB structures aim to be durable, exposure to harsh weather conditions and a lack of maintenance can shorten their lifespan.
The limitations of the structural system may result in height restrictions for PEB structures.
Due to their unique height restrictions, PEB structures might not be appropriate for large open areas or buildings with expansive columns.
PEB structures may have fewer insulation options than conventional building techniques. It could reduce thermal comfort and offset the energy-saving advantage in colder climates.

Which are a PEB structure’s principal building blocks?

A pre-engineered building’s components consist of:

Primary frame

It acts as the framework for the PEB structure and includes stiff steel beams, rafters, and columns for structural support. These parts are often composed of premium steel to support large loads.

Auxiliary participants

Secondary members are details attached to the main frame to provide the walls and roof extra rigidity. These consist of girts, eaves struts, and purlins. Girts are affixed vertically to the walls, while purlins are positioned horizontally along the roof. Eave struts preserve the building’s structural integrity by joining the roof to the walls.

Wall and roof panels

To weatherproof a PEB structure, panels for the roof and walls are necessary. These panels are made from premium steel sheets and have multiple layers of protection to prevent corrosion. Because the panels come in various thicknesses, they are economical and efficient.

Add-ons

Besides enhancing their looks, PEB structures also come with various accessories. These may include doors, windows, ventilators, gutters, and downspouts. Gutter and downspout systems help avoid flooding, control rainfall and prevent logs from entering the building.

What are a few uses for PEB structures?

PEB structures are prevalent in a variety of sectors, including

Industrial buildings include factories, warehouses, workshops, and storage facilities.
Commercial structures include supermarkets, retail centers, office buildings, and showrooms.
Institutional buildings include community centers, hospitals, colleges, and schools.
Stadiums, exhibition halls, and sports complexes are examples of recreational buildings.

In short, pre-engineered buildings, or PEB structures, present a fresh perspective on the construction of buildings. Commercial builders can anticipate significant traction in their upcoming projects thanks to benefits like cost-effectiveness and quicker delivery schedules! When determining their practical application, suitability, and shelf life constraints.

India’s revolution in real estate: The rise of opulent living

Posted on November 22, 2023 by supriya

The rise of luxury living has been the primary driver of a significant evolution in India’s real estate market. This shift reflects evolving consumer preferences, rising disposable incomes, and a growing desire for high-end lifestyles. In India, modern luxury developments prioritize environmental sustainability while providing wellness amenities such as organic gardens, yoga centers, and spas. Furthermore, elite localities are now the go-to for luxury home seekers. Gurgaon, for example, has become a popular destination for buyers looking to purchase luxury real estate because of its first-rate amenities, excellent standard of living, and proximity to business centers, upscale retail centers, and premier entertainment venues.

Luxurious living: A fusion of contemporary conveniences and sustainable methods

In today’s Indian real estate market, luxurious living is defined by more than just sumptuous furnishings and first-rate facilities. It includes an increasing focus on implementing sustainable practices such as solar energy, sewage treatment plants, rainwater harvesting systems, and intelligent lighting systems. These methods improve inhabitants’ quality of life and modern conveniences while improving the environment. This evolution reflects people’s increasing awareness of energy conservation, the environment, and their desire for high-quality living.

Aside from this, modern technology integration is an attribute that distinguishes high-end residences with features like sophisticated climate control and intelligent security systems. These homes are automation systems-equipped smart homes, which are becoming the standard.

Examining the trends in the luxury real estate market in more detail

India’s luxury home market is expanding in a promising way. One clear trend illustrating the increasing importance of luxury living is the increased demand for lavish homes.

Growing affluence and urbanization

The country’s expanding middle and upper classes are the primary drivers of the demand for luxury real estate. As a result of rising incomes and urbanization, an elite class of buyers seeking homes with numerous features has developed. This shift in population has increased demand for roomy, luxurious apartments and villas with first-rate features and interior designs.

Shifting needs of the buyer

Developers are complying with the demand of luxury home buyers for customized offerings. Custom features that meet the needs of specific clients are becoming a hallmark of the luxury market. With a growing preference for features like personal pools, gyms, spas, and smart home automation, modern buyers seek a holistic lifestyle experience.

Attention to NRIs and global investments

The premium housing market has benefited from foreign investment and Non-Resident Indian (NRI) interests. Premier residential zones have developed due to these investments, sometimes with the collaboration of global real estate titans.

Due to upscale infrastructure developments, non-resident Indians (NRIs) are now selecting luxury homes in India to achieve substantial returns and luxurious stays during trips home.

Upgrades to the infrastructure and connectivity

Modern transportation systems, such as highways, international airports, and metros, have made formerly inaccessible places more appealing. With these new locations, luxury developers now have the opportunity to create distinctive communities.

Enhanced real estate laws

The RERA law shows real estate transparency has helped restore buyer confidence. Because it fosters market trust, luxury buyers especially appreciate this transparent approach.

A steady economy and favorable investment opportunities

India views luxury real estate as a reliable investment prospect for homes. Properties of this kind exhibit resilience to fluctuations in the market, guaranteeing future growth prospects. There is a greater demand for luxury real estate due to the stable Indian economy and this investment opportunity.

Conclusion

India’s luxury lifestyle trend points to a promising future. International developers and investors are increasingly interested in India’s luxury real estate market. The trend will continue even more as foreign luxury brands enter the market. Homebuyers will flock to luxury living as the Indian real estate market develops. The confluence of urbanization, economic progress, and changing consumer demands guarantees that the luxury real estate market offers buyers, developers, and investors.

A fresh approach to owning expensive assets: India’s fractional ownership model

Posted on November 18, 2023 by supriya

The post-pandemic surge in mobility and leisure travel has led to an increasing mainstreaming of India’s fractional ownership. Furthermore, although economies like the US, UK, and China—all of which have sizable populations of the world’s wealthy- have seen a sizable market for fractional ownership, the Indian market was small until recently. That, however, is changing fast.

Fractional possession enables people to invest in pricey assets like real estate, private planes, yachts, etc. Splitting their ownership costs into more affordable shares has caused a shift in the domestic luxury market in recent years. Another name for it is co-ownership, which enables several investors to profit from increases in an asset’s market value and rental income.

Through platforms for fractional ownership, a substantial amount of investments made in this model are finding their way into the residential and commercial real estate markets. Through these business ventures, high-net-worth investors can access assets typically owned by more affluent peers. The hassle-free model helps owners overcome the drawbacks of sole ownership, which is hampered by costly outlays, lack of transparency, and management issues. Additionally, professionally managed finances, upkeep, and legal matters are typical in fractionally owned properties. These benefits, which give owners a hand-off investing experience, are further propelling the trend.

According to the co-founder and CEO of your fractional ownership company, Sravan Gupta, this is the personalized experience each owner receives upon check-in. The company recommends owners write down their requirements before check-in to provide a seamless experience. Many options are available, ranging from how many cans of chilled beer to have on hand to which air freshener to use to greet visitors. In addition, offerings like specially trained personnel and on-demand chefs have enhanced the model’s appeal. The market for fractional ownership properties in India grew by 65%, from $ 5.4 billion in 2020 to $8.9 billion in 2025, at an annualized rate of 10.5%, according to data from Knight Frank.

According to Vimal Nadar, Senior Director and Head of Research at Colliers India, “the trend has been influenced by many factors, including the affordability of premium properties becoming less accessible, shifting investment and lifestyle preferences, and the proliferation of start-ups and investment platforms. “Underlying assets are farms, vacation homes, and commercial real estate, but the second-home segment has the most activity. Furthermore, more and more investors are purchasing second homes in well-known tourist locations like Alibag, Lonavala, Goa, Kodagu, Rishikesh, and Shimla.

Although the market is expanding quickly, according to Amit Goyal, MD of Sotheby’s International Realty in India, it has yet to reach its full potential. “Currently, properties valued between 10-20 crore are being converted into vacation homes. The majority of co-owners are six to ten people. That is where the Indian market is more concentrated, he claims. For example, Yours deals in properties valued at 5-20 crore.

These belong to eight equal shares residing in places like Goa, Alibaug, and Nilgiris. For every property, the co-owners own shares in a purpose vehicle (SPV) set up by the platform. Research from around the world supports this as well; according to our calculations, eight is the ideal number to divide up the ownership of a second residence. It grants each shareholder about 45 days of ownership annually,” adds Gupta.

One company that offers fractional ownership of premium commercial real estate is Strata, which operates in Bengaluru. According to Sudarshan Lodha, co-founder and CEO of the company, professionals, including lawyers, doctors, and even entrepreneurs, are showing interest in the space. “Getting exposure to the real estate market is their primary goal. Additionally, professionally owned and managed commercial assets are currently a profitable option,” he claims. But problems still exist. The desire for fractional ownership among investors is “still limited due to the lack of a standardized framework, independent valuation, and proper due diligence,” according to Colliers’ Nadar. In response to these worries, the Indian market regulator Sebi has suggested that fractional ownership platforms fall under its purview. According to Nadar, HNI’s involvement in the model will raise the regulatory framework’s promotion of supply-side maturity and consolidation.

Beyond real estate, the co-owners are keen on yachts and private planes. The market for these, however, is still nascent, says Sotheby’s Goyal. One of the main disadvantages, he claims, is that Indian cities are not suitable for housing and hosting yachts. “For this reason, it is uncommon to find an Indian-owned yacht parked in India. One of the few companies that provides luxury yacht fractional ownership is Champion Yacht Club, situated in Bengaluru. A fractional owner can spend 1.25 – 24 crore per share annually for six weeks on their yacht. In the meantime, the market for fractional ownership of private aircraft is broader and is growing due to the rise in HNIs in the nation. In addition to offering a premium experience, private jets, unlike yachts, reduce the time spent traveling, even for business rather than just leisure travel. Experts claim that this works in the jets’ favor.

Luxury as we know it is undoubtedly changing, whether with private aircraft, yachts, or second homes at sought-after vacation spots; fractional ownership is also quickly gaining popularity.

YashoBhoomi: India’s revolutionary breakthrough in the conference, tourism, and real estate sectors

Posted on November 17, 2023 by supriya

The largest convention center in India, Yashobhoomi, was inaugurated by Prime Minister Narendra Modi in a historic ceremony in Dwarka, Delhi. This bold initiative, which aims to capitalize on the estimated Rs 25 lakh crore industry, is poised to redefine India’s standing in the global conference tourism sector. I explore the nuances of Uashobhoomi’s influence on the Dwarka Expressway real estate market as a real estate sector.

The Vision of Prime Minister Modi

Yashobhoomi’s unveiling coincides with Prime Minister Modi’s strategic plan to increase India’s currently low 1% global conference tourism market. India’s dedication to hosting international conferences, meetings, and exhibitions can be seen in Yashobhoomi and Bharat Mandapam, representing a daring step toward global prominence.

Recognizing Conference Travel:

The UN World Tourism Organization defines conference travel as gatherings of ten or more people for at least four hours set up in a contracted location more than fifty miles from home. There has been a recent trend in this segment, which frequently goes by the name MICE tourism (meetings, incentives, conferences, and exhibitions), to refer to its broad scope as the “meetings industry.”

Yashobhoomi: An Innovating Space:

Yashobhoomi, with its enormous project area of over 8.9 lakh square meters and its built-up area of over 1.8 lakh square meters, is expected to rank among the best MICE facilities in the world. Modern amenities at the facilities set India apart as a global center for conferences, events, and exhibits, drastically boosting the travel and business industries in the nation.

To All International Stakeholders:

Prime Minister Modi invited all interested parties to utilize Yashobhoomi’s resources during the unveiling. The amalgamation of contemporary facilities and Indian culture at Bharat Mandapam and Yashobhoomi is a potent emblem of India’s story worldwide.

Bharat Mandapam’s Success and Future Prospects:

Prime Minister Modi expressed confidence that Yashobhoomi would exceed expectations, building on the success of Bharat Mandapam, which recently hosted the G20 leaders’ summit. The facility has the potential to showcase “India of the future” to the world community, he said, underscoring the country’s commitment to hospitality, grandeur, and excellence.

Real Estate Boom:

The introduction of Yashobhoomi has led to an increase in demand for nearby residential and commercial real estate. There is a need for commercial development since Yashobhoomi-related businesses are actively looking for adjacent office spaces. Furthermore, the scale of the Dwarka Expressway and commercial sectors will likely increase significantly, drawing Fortune 500 businesses to operate close to the International Airport.

Conclusion:

With the opening of Yashobhoomi, India advances to the top of the 25 million-dollar conference tourism industry. The growing demand for office and residential spaces is expected to benefit the real estate sector, especially along the Dwarka Expressway. The Dwarka Expressway’s opening before the next Lok Sabha elections will enhance these encouraging advancements even more. Keep checking for more information on how Yashobhoomi influences India’s development and prosperity with conference tourism.

Tenants of commercial properties must pay 18% GST on their electricity bills.

Posted on November 3, 2023 by supriya

The Central Board of Indirect Taxes and Customs released a circular on Tuesday regarding the applicability of GST on the reimbursement of electricity charges that airport operators, mall operators, and real estate companies receive from their lessees or tenants.

The government explained that tenants, especially those renting commercial properties, must pay 18% Goods and Services Tax (GST) on electricity charges if the supply coincides with the rental of immovable property and facility maintenance. However, the power billed on an actual basis by real estate owners or malls, which act as discus agents, will not be subject to any GST.

The Central Board of Indirect Taxes and Customs (CBLC) released a circular on Tuesday about the applicability of GST on the reimbursement of electricity charges that airport operators, mall operators, and real estate companies receive from their lessees or tenants.

It clarifies that providing electricity in conjunction with the rental of real estate or the upkeep of buildings, as the situation may dictate, constitutes a composite supply and is subject to the appropriate taxation, the statement read.

“The leasing of real estate and grounds maintenance is the primary supply; the provision of electricity is incidental,” the statement reads. “The GST rate on renting immovable property or maintaining premises would be applicable even if electricity happens separately,” the document said.

It also stated explicitly that homeowners in housing societies would not be subject to GST. The resident welfare associations (RWAs), real estate developers acting as pure agents, or real estate owners provide the electricity; it will not be included in the price they pay. “Furthermore, they will appear to be acting as pure agents for this supply where they charge for electricity on an actual basis, that is, they charge the same amount for electricity that the State Electricity Boards or DISCOMs collect from their lessees or occupants,” the statement went on.

Expert opinions on this clarification vary. “The real estate industry is concerned about the CBIC’s most recent clarification. This clarification applies GST to electricity charges, regardless of whether they are provided separately or in conjunction with real estate. Although there are some exceptions, such as when property owners recover electricity costs on an actual basis or act as pure agents,” according to Saurabh Agarwal, a partner at the consulting firm EY.

In his view, “The implications of this clarification remain a concern in cases where real estate companies convert high tension lines to low tension lines and charge higher rates due to transmission loss.” “Going forward, landlords may factor in the GST cost on electricity when determining lease rental amounts, which could increase the rental cost,” he continued.

But MS Mani, a partner at Deloitte India, thought it was for businesspeople. “This will help the recipients of such composite supplies who were uncertain about their eligibility for input tax credits (ITC), in addition to ensuring uniformity of procedures throughout the real estate industry,” he said regarding the clarification on electricity charges recovered as part of a composite supply.

Commercial real estate increased by 7% in India’s main Tier-1 cities.

Posted on November 3, 2023 by supriya

According to a PropWquity study, the supply of commercial real estate in India’s major Tier-1 cities increased by 7% in the third quarter of 2023 to an overall total of 14.61 million square feet. The government’s proactive efforts to support the IT industry through infrastructure improvements and tax breaks are responsible for this growth. With about 35% of the new supply, Hyderabad was the best performer overall. Bengaluru came in second with 25% of the new supply. A notable 20% increase in net occupancy occurred during the same period, going from 10.30 million square feet (in Msft) in Q2 CY’23 to 12.31 million square feet (in Msft) in Q3 CY’23. In contrast, gross occupancy increased by a meager 2% from Q3 2023 to Q2 2023. This significant increase in occupancy is evidence of the market’s dynamism and the high demand for commercial real estate at the time.

Companies and businesses have been growing their operations, demonstrating the industry’s dynamism and room for growth. With a 9% YoY increase in new supply, MMR has the highest net occupancy among the Tier 1 cities. In contrast, because of the excess supply from prior quarters and high rental prices in this one, the Delhi-NCR area has seen a significant decline in the construction of new properties, with a 65% decrease compared to the previous year. As a result, Delhi NCR now only makes up 7% of the supply of new real estate in Tier-1 cities. The higher net occupancy in this quarter is the main reason for the sharp increase in rental rates in Delhi-NCR, which have increased YoY by 17% and QoQ by 45%. Due mainly to leasing initiatives by Citi Bank and Teleperformance, Gurugram’s Sector-18 and Noida Expressway rank among the top micro-markets in the Delhi NCR according to occupancy levels.

India’s market for commercial real estate is expanding rapidly, providing companies with dynamic spaces that adapt to their changing needs. The supply of commercial real estate has increased by 7% in tier-1 cities, suggesting a bright future for the industry. We can not wait to take part in this thrilling adventure. With the festive season approaching, strong demographics, a boost in business confidence, and government initiatives in high-value industries like infrastructure and manufacturing, the current wave in Indian commercial real estate is predicted to continue for the upcoming quarter.

There was a small shift in the number of open positions from Q2 2023 to Q3 2024 in the Top Tier-1 cities of India. There are 152.32 million square feet of vacant space overall in these cities as of Q3 2023. The most unsold stock is found in Hyderabad and Bengaluru, at 43%, and MMR, at 15%. This pattern illustrates how the Indian real estate market has changed over time, driven by several variables, including the current state of the economy, the dynamic interplay between supply and demand, and the changing needs of businesses. The commercial real estate market is formed by these factors taken together. Although the marginal increase in vacancy levels is promising, major players in the industry must stay vigilant and flexible to adeptly navigate the continually shifting landscape of the commercial real estate sector.

Investment in Real Estate in India

Posted on November 1, 2023 by supriya

A wise investment can transform our lives and give us the assets we require to realize our aspirations. Today, most of us have various investments in our investment portfolios, including stocks, gold, bonds, government programs, etc. However, real estate has been one of the most overlooked and underrated investments in recent years. Given the enormous economic growth in most Indian cities, the average income has increased, giving us more incentives to invest in the future. Real estate may be your ideal choice if you want to invest.

The importance of real estate

Over the years, kingdoms have fought over land, using every means possible to win that priceless possession. The demand for land has endured despite the lack of kingdoms, with everyone vying for a piece of the pie. Prime real estate can be a wise choice to invest in. It offers far above traditional investment options because its demand and value never decline. Everyone aspires to own a home because it can lead to financial success and potential fulfillment. Due to the lack of available land in cities nationwide, investing in even a tiny dwelling can yield benefits, such as rental income or the ability to resell it for a profit.

Factors to Take into Account Before Investing in Real Estate

An investor with no prior real estate experience could become seduced by the promise of profits and make a loss on a piece of the property. Before parting with one’s hard-earned money for real estate investment, a novice should consider the following factors.

Keep Calm- Most legitimate property transactions take a few days to complete, making buying a property time-consuming. Although many real estate companies promise to finish paperwork within a day, patience can help you get a good deal. Jumping the gun may result in you paying more for the property or buying one that exceeds your expectations. Additionally, selling can delay projects, testing your patience if your investment does not yield any returns for a while.
Research the Property: In today’s market, it’s vital to research before leaving to search for a property. Choosing the right real estate can be challenging with so many projects in the works, as sellers are frequently known for charming potential buyers. The amenities provided, the history of the building company, the materials used, and the surrounding area can all affect the returns on your investment. If you do not investigate thoroughly before making a purchase, you might regret it later and lose money.
Check the Papers: Considering how easily a buyer unfamiliar with the real estate market can fall into buying a property with phony papers, the papers of a property are the most essential considerations to make. Purchasing a property with cloudy titles can result in protracted legal disputes or court cases, effectively making the investment worthless. Legal professionals should verify the authenticity of all property papers because failing to do so could result in you buying a property with its title in dispute. People frequently sell homes for less than market value, which should raise a red flag as such homes may be the subject of litigation or have internal problems with the owner.
Verify Market Rates: Most local governments offer a guideline value to assist investors in determining an asset’s rate. By keeping track of neighborhood trends with the help of the market rate, you can avoid paying more for a property than it is worth. You can extrapolate the returns you may expect in the future by studying market rates and figuring out developments.
Talk to your neighbors: While most of us overlook this advice, talking to your neighbors is a good idea. By gaining firsthand knowledge of a community’s conditions, you can identify any issues or regions where a purchase might suffer. Speaking with them can also help you learn about current market prices, the past of the area, and the potential for future growth. One can get a clear picture of the real estate they intend to buy because neighbors are not salespeople trying to sell you the property.
Calculate Your Finances: It is essential to determine your financial situation to ensure that you accomplish specific goals. Although getting a bank loan is straightforward, it is crucial to consider the interest rate and other costs.
Remain Positive: It is critical to maintain optimism while carrying out a real estate transaction because there will inevitably be times when things do not go as planned. When dealing with sellers of homes, keeping your composure can help you gain more advantages.
In the Indian real estate market, negotiating is essential because everyone is looking for a deal that will increase their wealth. Understanding the art of negotiation can help you get additional freebies like parking spots, furniture, etc.
Real estate investments are typically safer than other investments, but that does not mean they are risk-free. Take this into consideration. In India, legal obstacles and property disputes are prevalent, so one should verify that the property they are interested in is free of obstacles and legal issues.

Given the shifting dynamics of our times, owning a property may be the wisest course of action. A beginner can choose the right course for investing in real estate by considering these guidelines.

Commercial Shops for Sale in Pune

Posted on November 1, 2023 by supriya

In recent years, Pune has steadily developed into a center for the IT industry. Numerous investors from around the world are interested in Pune’s properties. The city is now a lucrative substitute for Mumbai’s pricey market. In Pune, commercial property stands to rise by about 15%.

The demand for properties for sale in Pune has increased due to the IT, startup, manufacturing, and automobile industries. More industries also mean an increased workforce. As a result, there is a growing demand for residential properties in Pune and the need for office space leases to purchase. Are you thinking about making a commercial real estate investment? If so, Pune should be on your radar. Pune is quickly emerging as a top location for commercial property investments because of its advantageous location, flourishing business environment, and pleasant climate. We will look at the benefits of buying business shops in Pune here.

What are the top 5 arguments for purchasing a Commercial Shop in Pune?

Development of Buildings

With the building of highways and flyovers, Pune’s infrastructure has grown significantly in recent years, making transportation within the city much more convenient. The ongoing metro rail project will enhance connectivity. Due to this positive development, Pune is now a desirable place to invest in commercial real estate.

The technology center for the region:

Pune, known as the “Oxford of the East,” is quickly becoming a center for technology companies thanks to its numerous prestigious educational institutions. Major companies like IBM, TCS, Wipro, and Infosys have opened offices in Pune because of its appeal. There is now more demand for commercial properties in the city.

Profitable business opportunities:

Pune is a thriving center for many industries besides being a well-known hub for IT firms, including the automotive, manufacturing, and pharmaceutical sectors. Pune has become a desirable location for business investments thanks to its diversity of business climate. Thanks to its diversity of business climate. Pune is a compelling location for businesses looking for expansion opportunities due to its large population and resulting expansive consumer market.

Unusual weather:

Pune has pleasant weather all year, making it an appealing choice for tourists and business travelers. The city experiences mild winters and summers, making it a change from the severe weather in other parts of the nation. Pune is a sought-after location for businesses looking to open offices and staff seeking quality of life because of the pleasant climate.

Advantages of Commercial Shop in Pune

The value of commercial properties rising:

Due to the potential for property value to increase over time, purchasing a commercial shop in Pune may be a wise long-term investment. Commercial property will rise in value as Pune develops and grows as a city. Pune, which has seen significant growth in the commercial real estate sector, is one of the top ten emerging markets in the world, according to a report by JLL India. As a result, investing in a commercial shop in Pune can result in several long-term advantages.

Rental and Lease Options

Purchasing a commercial shop in Pune also offers a variety of rent and lease options due to the city’s diverse business environment. A wide variety of businesses, from emerging startups to well-established multinational corporations, can be found in Pune, which has led to a high demand for commercial real estate. Due to this demand, property owners have a lucrative chance to rent out their commercial properties to tenants and create a steady income source.

Potential for new companies

There are many chances for new businesses to establish themselves in Pune because the city is a thriving business hub. Purchasing a commercial shop in Pune can give a company a physical location where to operate, increasing its sense of legitimacy and stability. Additionally, owning a commercial shop can be more affordable than renting or leasing a property for a business to establish a presence in a prime area.

Consider your options when opening a business in Pune.

Business Facility

Business centers are a highly sought-after option for those looking to buy a commercial shop in Pune. Usually multi-story structures, these centers offer an array of commercial spaces, including large and small retail spaces. Meeting rooms, conference facilities, and communal reception areas are typical amenities found in business centers. They provide the best option for companies looking for a ready-made option because everything, from the infrastructure to maintenance, is taken care of.

Malls

In Pune, buying a commercial shop in a mall is a common choice. Malls provide a range of commercial spaces, from little kiosks to big department stores. Malls also draw a lot of foot traffic, which makes them the perfect place for retail businesses. Due to their desirable location and further amenities, malls may be more expensive than other commercial options.

Residence with retail space

Residential buildings with commercial spaces are a fantastic investment for people looking to open a shop in Pune. These multi-story structures typically have commercial spaces on the ground floor, making them ideal for eateries, gas stations, and grocery stores that cater to residents. Also, building residents may turn into clients; these buildings have a ready-made clientele.

Sanketham Building Permit Application

Posted on October 16, 2023 by supriya

Citizens can use Sanketham from their desktop computers and mobile devices because it is a web-based application. This software allows architects and other design professionals to submit an online building permit application.

In any region of India, you must first obtain a building permit from the local administration to construct a home or a business building. You may build, destroy, reconstruct, or modify any property in the designated area. When you receive a building permit for a structure less than four stories, you have three years to complete construction. Buildings taller than four stories require a four-year construction process.

Each Indian state’s local governing body issues these permits based on criteria. They look at how well the land is to reserve space for sewage and roads according to local standards. The authority attests that you are zoning for the building you are constructing. City-to-city and state-to-state variations exist in the procedure and regional norms.

How to obtain a building permit in Kerala step-by-step

To get a building permit in Kerala, take the following actions:

First, determine what property it is.

Determine the location of the plot where you want to build first. Consult your architect to create a sketch that complies with the Kerala Municipality Building Rules (KMBR) or Kerala Panchayat Building Rules (KPBR), depending on the type of building.

Make sure the following information is included in the sketch:

Height of a building
Site design
Sections
Floor plan (all floors)
Site layout (width of the plot, setbacks, and access road)
Plan for a roof terrace
Harvesting rainwater
Information on the specific tank and soak pit
Location strategy

Documents

Before applying, all the necessary paperwork is current and readily available. These consist of a copy of the title deed, a possession certificate, and the most recent land tax receipts.

Step 3: Get online permission from the neighborhood self-governing body.

Only licensees of the local self-governing body, such as a panchayat, corporation, or municipality, may submit building permit application forms. The license may be a licensed architect, a drafter with a permit, or an engineer. The licensee receives the necessary paperwork and submits an online application to the neighborhood self-governing body to obtain the building permit.

Step 4: Obtain approval from the appropriate body.

The concerned officials at the local self-governing body then acknowledge that the application is valid.

Step 5: Applying for a building permit

The licensee submits all necessary paperwork along with the online applications.

Step 6: The building inspector’s verification

After visiting the property in question to determine whether the data in your application is accurate, the Building Inspector (BI) submits a report to the Assistant Engineer (AE).

Step 7: The assistant engineer confirms

Before sending the report to the Assistant Executive Engineer (AXE), the Assistant Engineer conducts one more round of checks.

Step 8: Application approval

The Assistant Executive Engineer then uses this report to decide on the application. This method is adequate for structures up to 350 square meters. Stricter guidelines and higher approval thresholds, however, apply to taller structures.

Step 9: Paying fees and obtaining a building permit

The building permit will be issued and sent to the registered address once the cost has been paid in full, which you can do in the case of applications accepted at the office of the relevant self-governing body.

Building permit in Sanketham: How do I get a new building permit?

Using the Sanketham building permit software, you can apply for a building permit online and track the state of your license. Fill out the form completely and accurately if you apply for a new building permit. A review of your application will then take place.

Here is a how-to.

Check out the Sanketham website. If you are a new user, create a new account. You can sign in with your current login information if you are already a user.
You can either apply for a new building permit or check the status of an existing application after you sign up or log in.
Apply by including pertinent details like the site’s location, the proposed building’s use, the surrounding area, drawings, etc.

Every building permit in the entire state of Kerala must be obtained using the Sanketham building permit software because it makes the application and approval of building permits incredibly simple and transparent.

Building permits in Kerala: what you need to know

Kerala requires the following documents for a building permit:

Evidence of property ownership, such as title deed
Certificate of Possession
Modern land tax receipt
An application fee
The “Aadharam,” or original and copy of the deed
Document proving the registration of an institution, a building designer, an architect, an engineer, a town planner, or a supervisor.

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