UP Housing and Development Board’s Awas Vikas Housing Scheme for 2023

Posted on November 29, 2023 by supriya

The Uttar Pradesh Awas Vikas, also known as UP Awas Vikas, is reportedly giving a significant discount on the apartments available under its housing schemes. Under several schemes, UP Awas Vikas is offering a massive 20-25% discount on its available apartments.

The deadline for applying for the discounted apartments is Dec 15, 2023. The deadline for selecting the applicants is Dec 30, 2023. The successful applicants must deposit the charges within 60 days of the chosen day for UP Awas Vikas to expedite quick possession. The successful applicants will not be eligible for the discounts if they do not deposit the entire amount within the allotted time. Just 780 of the 2304 apartments constructed under the Housing Development and Counsil’s Jagriti Vihar Extension Scheme have sold thus far. There are now 1524 empty apartments. The council is offering these for 20 to 25 percent less than their initial cost.

Five different types of apartments are unoccupied.

There are five types of unoccupied apartments in the plan. It includes apartments with 32, 57, 64, 100, and 127 square meters included in the scheme. The price range for 32 square meters is between Rs. 8.59 and Rs. 11.11 lakh; for 57 square meters, it is between Rs. 22.16 and 26.92 lakh; and for 100 square meters, it is between Rs. 40.18 lakh and Rs. 40.87 lakh.

UP Housing Board, or UP Awas Vikas

The government agency known as UP Awas Vikas, or the UP Housing and Development Board, is pushing the development of affordable housing in Uttar Pradesh. The goal of UP Awas Vikas is to give the economically disadvantaged (EWS), middle-class (MIG), and low-income (LIG) segments of society sustainable homes furnished with contemporary conveniences.

The UP Awas Vikas, or UP Housing and Development Board, is involved in the planning and state-of-the-art housing societies across Uttar Pradesh. It endeavors to develop ventures of excellence at strategic locations in UP.

Online Services UP Awas Vikas

The UP Housing and Development Board, also known as UP Awas Vikas, was founded to streamline housing-related services. UP Awas Vikas provides the following services.

One-Time Payment Plans
Online Flat, Villa, and Plot Registration
Online Auction Services
View the Ledger and Process Payments Online
Produce an E Challan
Reservations for Community Centers Online
Janhit Assurance Providers
OB Passbook feedback

Citizens can also access public notices about land rates, notices about land acquisition, information about guest house reservations, land auctions, and notices about architects and planning in addition to these services.

How can I determine which UP Awas Vikas housing schemes are currently active?

Citizens can check the current housing schemes under the UP Housing and Development Board by utilizing the UP Awas Vikas or UP Housing and Development Board. To find out more about the present housing schemes, take the following actions:

Visit the website of UP Awas Vikas.
Select the option labeled “Click to buy flats.”
It will show data about a list of housing projects that are currently underway.
You will be able to apply for the scheme if it is open.

How can I access the online details of available properties on UP Awas Vikas?

A user can view the details of available properties online by visiting the UP Awas Vikas website. To search for available properties on the internet, take the following actions:

Visit the UP Awas Vikas website.
Click on the Details of the vacant property on the homepage.
A new webpage will open for you.
Using the drop-down list, choose the district.
Choose the flat type and Scheme on the following page.
Press the “Search” button.
The computer screen will show the specifics of the unoccupied properties.

How can I access UP Awas Vikas ledger and pay?

The user can view the ledger and online payment details on the UP Housing and Development Board website, UP Awas Vikas. To search for available properties on the internet, take the following actions:

Visit the UP Awas Vikas website.
Click the “View Ledger and Online Payment” link on the homepage.
The webpage https://upavponline.in//pem/upavp_new/index.aspx will open.
Should UPAVP assign you a property, click the register button to finish the one-time registration process.
Click the login button if you have already registered.
Send in the information like:
- Type of Property
- Name of District
- Name of Scheme
- Name of Sub-scheme
- Name of Property or Form
- Name Allottee
- Phone number
- The email address
Check your email and mobile number.
Examine the online payment information.

How can I apply for an online approval of a building plan in Uttar Pradesh?

The days of running from department to department and pillar to post to get their building plans approved are long gone. An online application for building plan approval is made available by the UP Awas Vikas. On the UP Awas Vikas website, one can apply online for building plan approval by following the instructions.

Visit the UP Awas Vikas official website.
Select the UPOBAPS Online Map Approval option from the homepage.
This URL, https://upobpas.in/BPAMSClient/, will open.
If you have registered, sign in using your password and username.
Register yourself if you have not already, then use your username and password to log in.
Applying for online building plan approval requires the completion of the following checklist:
- Calculation Sheet for the Total Estimate
- Recognize Your Approval
- Site Assessment Checklist
- Checklist for documents
You may submit an online request for building plan authorization once you have the form and upload the required files.

How Can I Use UP Awas Vikas’ Property E-auction Services?

Across the state, the UP Awas Vikas is responsible for organizing the auction of various residential and non-residential properties. To use the UP Awas Vikas E-auction services, use the following actions:

Step 1: Go to https://upavp.in/en, the UP Awas Vikas website.

Step 2: On the homepage, select the E-Auction tab.

Step 3: https://upavpauction.procure247.com/home is the address of a specific website designed to handle auctions.

Step 4: The UP government’s auctions are categorized as follows: Live, Closed, Cancelled, and All.

Step 5: The list of active auctions will appear when you click the “live” button. The auction details include the venue, the time, the beginning, the middle, the end, the announcement of the event, and the auction document. The amount of item-by-tem EMD deposit is also visible.

Step 6: Press the “Submit” button.

Step 7: Submit your bid for the desired property by uploading the necessary supporting documentation in the following step.

Note that the bidder may only apply online within the designated application window period.

How do I make an online reservation for a community center on the UP Awas Vikas website?

The UP Awas Vikas, formerly the UP Housing and Development Board, also facilitates online reservations for community centers. To reserve a community center online, take the following actions:

Visit the UP Awas Vikas website.
Select “Online booking of community centers” from the homepage.
Choose information such as the name of the district, the type of facility, the location, and the duration on the newly opened page.
Select the “Show Availability” option.
A page displaying availability is displayed next.
Click the “book now” button if the center is open on the specified dates.
Enter the following information on the page: name, branch, IFSC code, ID type, ID proof number, email address, mobile number, state, city, pin code, purpose of booking, discount category, and bank account number.
Upload the applicant’s soft copy of their proof of identity.
Press the “Submit” button. We will apply.

Conclusion

In conclusion, the UP Housing and Development Board, also known as UP Awas Vikas, is a state government organization that supports the creation of affordable housing in the province of Uttar Pradesh. UP Awas Vikas to give LIG, EWS, and MIG income groups of society sustainable homes with contemporary conveniences.

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.

How might real estate investors benefit from SEBI’s approval of small and medium-sized REITs?

Posted on November 28, 2023 by supriya

SEBI’s decision to encourage investments in Small and Medium REITs (SM REITs). The REITs (Real Estate Investment Trusts) Regulations, 2014, were amended yesterday by the SEBI board. These amendments aim to establish a regulatory framework that will facilitate the establishment of SM REITs, which will have an asset value of at least Rs 50 crore as opposed to the existing REITs’ minimum asset value of Rs 500 crore. The decision received approval at the Securities and Exchange Board of India (SEBI) meeting in Mumbai.

Experts in the industry welcomed Sebi’s decision to regulate fractional ownership of real estate. “We applaud SEBI’s progressive move in regulating the fractional ownership framework with the amendments to the REIT Regulations,” stated Aryaman Vir, CEO of WiseX, “as the pioneers of the Fractional Ownership model and neo-realty investments in India.”

The Small and Medium Real Estate Investment Trusts (REITs) aim to significantly expand the market so that more retail investors can own a fractional interest in REIT units, according to Madhabi Puri Buch, the Chairperson of the Sevi. She added that the regulator is willing to consider developing more goods of this kind.

The CEO of WiseX praised SEBI for recognizing the expanding trend of fractional ownership platforms and expanding regulatory oversight.

“We think it will guarantee investor protection, standard disclosure procedures, and a strong redressal mechanism in addition to stimulating investor interest in the real estate sector,” he continued.

Vir went on, “In addition, investors looking for more accessible entry points into real estate ownership will have exciting opportunities thanks to the lowered minimum asset value of Rs 50 crore for small and medium REITs. SM REITs’ ability to establish distinct schemes enhances the flexibility and inventiveness of real estate portfolio structuring. We anticipate that these regulatory changes will positively impact the ecosystem of fractional ownership, encouraging greater diversity and inclusivity in real estate investments.”

A high-end residential project in Sector 66- Gurgaon

Posted on November 28, 2023 by supriya

Are you trying to find a project in Gurgaon where convenience and luxury coexist? Visit the brand-new housing community, Smart World Edition, in Sector 66, Gurgaon. Here, you can enjoy quick access to Golf Course Extension Road and rejuvenate your living space with a private jacuzzi deck. Continue reading to learn about the costs, project overview, and payment schedule for Smart World The Edition.

Due to the many benefits of Sector 66’s location, property values there have increased dramatically over the last few years. This sector benefits from excellent connectivity and convenient access to social and retail amenities due to its proximity to Golf Course Extension Road. The demand for real estate in the sector has been rising over the past few years due to several infrastructure developments.

In Sector 66, Gurgaon, several well-known developers have launched residential projects after considering these variables. Smart World Developer’s Edition is one of the most recent additions to the list. By February 2031, the work should have concluded. See the sections below for important project details, including cost, features, floor plan, and neighborhood highlights.

The Edition of Smart World: Project Synopsis

With 956 apartments total, Smart World The Edition is a luxury housing community located in Sector 66 Gurgaon. It sits on an 11-acre plot of land. Three twin towers, each with 42 floors, comprise the society. Starting at Rs 5 crore, the project offers 3 BHK and 4 BHK apartment options. The registration number of the RERA-registered housing society Smart World Edition is GGM/756/488/2023/100.

You can examine the features that make Smart World Edition a desirable choice for end users below.

USPs of Smart World The Edition

Lobby with high ceilings, marble flooring, and chandeliers.
Personal jacuzzi Terrace
Rooftop infinity pool
A club with amenities like a movie lounge and a celebration hall.
Two master suites in luxurious homes

Floor plans and prices for The Smart World Edition

A three-bedroom apartment in Smart World The Edition starts at about Rs 5 crore. On the other hand, the 4 BHK options come with a starting price of Rs 6 crore. These apartments have carpet areas that range from 1600 to 1900 square feet.

Smart World The Edition’s price details
Setups	Highly Congested Area	Beginning Cost
3 BHK	2945 sq ft	Rs 5.74 crore
3 BHK	3005 sq ft	Rs 5.85 crore
3 BHK	3035 sq ft	Rs 5.91 crore
4 BHK	3505 sq ft	Rs 6.83 crore
4 BHK	3660 sq ft	Rs 7.13 crore

The Amenities Edition of Smart World

The movie lounge, rooftop infinity pool, beach park, and business lounge are vital features that elevate Smart World The Edition’s premium character. In addition, the table below allows you to view additional project amenities:

The Edition of Amenities in Smart World
Interior Features	Exterior Features
Squash Court	Tennis Court
Celebration Hall	Jogging Track
Badminton Court	Basketball Court
Sports Bar	Skate Park
Party Hall	Outdoor Gym
Indoor Gym	Yoga Poda
Private Theatre	Kids Play Area

Although Smart World The Edition is a residential project with many must-see amenities, let us

investigate its location. Examining the property in detail will give potential buyers the assurance they need to make a wise choice.

Gurgaon’s Sector 66: Local Highlights

Gurgaon’s Sector 66, located along Golf Course Extension Road, is one of the well-connected sectors. Within a six-kilometer radius, business hubs like JMD Megapolis, AIPL Joy Central, M3M Cosmopolitan, and Vipul Trade Center are easily accessible from this location. Therefore, proximity to corporate hubs makes it a preferred end-user hub. The following represents

the distance between Smart World The Edition in Sector 66, Gurgaon, and important Gurgaon connectivity spots:

Two important routes that provide easy access to Sector 66, Gurgaon, are Sohna-Gurgaon Road and Southern Peripheral Road.
Just eight kilometers away from NH-48, which provides drivers heading to Delhi with a satisfying commute.
The distance to Indira Gandhi International Airport via NH-48 is roughly 25 km.
Gurgaon Railway Station, roughly 12 km away and located on the Delhi-Jaipur Line, is the closest train station to Sector 66, Gurgaon

Gurgaon’s Sector 66: Social facilities

The advantage of Sector 66, Gurgaon, is its strategic proximity to Golf Course Extension Road, which facilitates residents’ easy access to social amenities. The schools, medical facilities, and retail establishments close to Smart World The Edition in Sector 66 Gurgaon are as follows:

Around Smart World The Edition, social amenities
Schooling, (within 2-3 km)	Hospitals, (2-6 km away)	Mall, (2-5 km away)
The DPS International Edge School	Ekta Hospital	Omaxe Celebration Mall
Alpine Convent School	Park Medical Center	City Center Omaxe
Bharti Shiksha Public School	CK Birla Hospital	Sapphire Mall
Ashoka International School	Motherhood Hospital	WorldMark Gurgaon
VIBGYOR High School	Marengo Asia Hospital	Airia Mall

Gurgaon’s Sector 66: Price Trends

Sector 66 is one of Gurgaon’s most prestigious residential neighborhoods; it starts with 3 BHK apartments and progresses to standalone houses or villas. In Sector 66, Gurgaon, the average cost of a property is Rs 14,750 per square foot. While 3 BHK apartments are the most popular unit type in the area, 4 BHK apartments are also in good supply. The average growth in sector property rates over the previous five years appears in the following table:

Property Appreciation in Gurgaon’s Sector 66
Present Value	The last year’s	Past three years	Past five years
Rs 14,750 per sq ft	32%	68%	69%

Gurgaon’s Sector 66: Potential for Investment

As a result of the planned infrastructure upgrades, Sector 66 in Gurgaon is one of the most well-liked areas for investments. These initiatives would significantly raise property values and improve the sector’s liveability index. Some other developments that are either planned or currently under construction are as follows:

A 2 km distance would connect Sector-66 Gurgaon to the Rapid Metro Line’s Vatika Chowk Station.
Plans to rehabilitate the Southern Peripheral Road with flyovers to reduce traffic and facilitate travel to Sector-66 Gurgaon.
Reduce travel time to Faridabad by being close to Vatika Chowk Station on the future Gurgaon-Faridabad Metro Line

It is reasonable to assume that the real estate price trend in Sector 66, Gurgaon, will continue to rise for at least the next few years due to the projected expansion of infrastructure. Social infrastructure and connectivity are the other potential developments that will benefit the industry. As a result, making investments in the area could eventually help you get returns.

In light of this, a customer may want to look into Smart World The Edition for end-use and investment purposes. Nonetheless, it is always a good idea to make several site visits to stay informed about how a project is developing.

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.

Chennai’s Oragadam district is home to the newly designed Godrej Sunrise Estate.

Posted on November 23, 2023 by supriya

Do you want to purchase or invest in land next to a vast 250-acre forest encircled by greenery? Godrej Sunrise Estate is Godrej Properties’ first-ever planned development project in Chennai. What makes this project so appealing as a purchase, and what makes it unique? Investigate its cost and geographic benefit to find out.

One of the most reputable brands in India’s real estate industry, Godrej Properties, introduced the project. Godrej Properties’ Sunrise Estate has a registration number of TN/01/Layout/3492/2023 with the Tamil Nadu Real Estate Regulatory Authority (TN RERA). Discover its USP, cost, features, Payment schedule, and other important information.

An overview of the Godrej Sunrise Estate project in Oragadam

About 1,000 residential plots are available in the 60-acre gated community of Godrej Sunrise Estate. The park and green areas occupy about six acres of the project area. The park and green areas occupy about six acres of the project area. Remarkably, 250 acres of Vattambakkam Reserve Forest encircle the project. It indicates plenty of greenery and a healthy environment for the residents to enjoy and unwind in.

Orgadam’s Godrej Sunrise Estate: Highlights of the project

Let us examine some of the main USPs of Godrej Sunrise Estate in Oragadam, Chennai:

Godrej Properties’ first-ever planned development in Chennai
The presence of four themed parks
The Vattambakkam Reserve Forest is nearby.
A 1.3-kilometer walking trail and an 800-meter bike path
Tucked away next to a calm lake and pond.

Oragadam’s Godrej Sunrise Estate: Project features

The facilities at Godrej Sunrise Estate were to meet the need for a contemporary, health-conscious lifestyle. The project’s four themed parks- Exploration Park, Cultural Park, Serene Park, and Healing Park- are some of its most notable features. The project’s clubhouse is about 12,000 square feet and has a (G+2) structure.

The following are some of the main amenities the project will provide:

Main Court
Arena of Campfires
Children’s Play Area
Camping Ground
Tot-Lot Section
Canine Park
A fitness center
Areas for Senior Citizens
Crossfit Hall
Ground for Multiple Activities
Versatile Play Area
Garden of Flowers
Tennis Court
Herbaceous Garden
A Cricket Box
Yoga Area
Garden of Aromas
Meditation Area
Orchard
Running Route
City Forest
Cycle Route
Gathering Court
Acupressure Route
Pool for Swimming

Details about the price range and plot size of Godrej Sunrise Estate in Oragadam

The developer at Godrej Sunrise Estate is offering plots ranging in size from 600 square feet to 2400 square feet. The price of the land varies from about Rs 18 lakh to Rs 65 lakh. A seven percent stamp duty and registration fees based on the value of the land are among the state taxes that apply to the plots.

600 sq ft – Rs 17.99 lakh
1500 sq ft – Rs 44.99 lakh
1800 sq ft – Rs 49.99 lakh
2200 sq ft – Rs 54.99 lakh
2400 sq ft – Rs 64.99 lakh

An Overview of Godrej Sunrise Estate in Oragadam

Several important topics were discussed in the earlier sections of Godrej Sunrise Estate, including cost, financing options, and facilities. It is time to learn more about Oragadam, the project’s location, and its potential for future developments in terms of social amenities, connectivity, and price trends. Finding out more about these crucial elements will aid in estimating the potential return on investment for the project.

Connectivity around Godrej Sunrise Estate in Oragadam, Chennai

Oragadam, a burgeoning micro market in West Chennai, is a well-known industrial center that houses auto companies’ manufacturing facilities. Excellent road and motorway networks guarantee easy mobility between Oragadam and other city areas. The following shows how far Godrej Sunrise Estate in Oragadam is from landmarks:

Oragadam’s proximity to SH-48 and SH-57 improves its connectivity to the rest of the city.
The main routes that lead to passing close by are Perumalpattuu-Kottamedu Road and Tambaram-Mudichur-Oragadam Road.
The Chennai-Nagapattinam Highway takes about 37 km to get to the project site from the Chennai International Airport.
The KAI Commuter Yogyakarta Line’s Padur Station, which is about 10 kilometers away, is the closest train station.

Let us now examine the social amenities that make this neighborhood a great place for locals to live.

Chennai’s Oragadam: Social facilities

Schools and hospitals, among other vital social amenities, are close to Oragadam, Chennai.

Thriveni Academy Sr. Sec. School- PSP Medical College – Kummavakkam Lake
APN Vidyalaya Matriculation Hr. Secondary School- Rela Hospital- Vallakottai Murugan Temple
Government High School- Parvathy Hospital- Sri Agatheeswarar Temple

Chennai’s Oragadam: Cost trends over the previous five years

About 60% of the total residential inventory in Oragadam, an affordable suburb of Chennai West, consists of residential plots. Conversely, with inventory making up about 23% of the total, residential apartments are the second most desired property type. Plots in Oragadam typically cost Rs 1,500 per square foot. Over the previous five years, prices in the area have increased by roughly 20%.

Chennai’s Oragadam: Potential for Investment

In and around Orgadam, several significant infrastructure projects are in the works. We expect these to raise the area’s connectivity quotient. Here are some significant advancements that are either planned or in the process of being built:

The Sriperumbudur connector point (20 km away) will be part of the Chennai-Bangalore Expressway, which is currently under construction. Following the completion of the expressway, commuters ought to have improved intercity connectivity.
Singaperumalkoil, which is 19 km away, will be crossed by the future Chennai Peripheral Ring Road, which will be advantageous to the locals in terms of connectivity.
Because of the proposed medical devices park in Oragadam, employment opportunities in the area should improve.

Property values in Oragadam will continue to increase in the upcoming years because of these building projects. Therefore, given the current circumstances, it seems worth investing in Godrej Sunrise Estate. Before acting, an investor should, nevertheless, constantly monitor the project’s development and consider the advice of a real estate consultant regarding the marketing’s economics.

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.

Since January 22, real estate companies have acquired land parcels in Tier 2 and Tier 3 cities for Rs 5,000 crore.

Posted on November 18, 2023 by supriya

Since January of last year, real estate developers have paid nearly Rs 5,000 crore to acquire 1,461 acres of land in Tier 2 and 3 cities to grow their enterprises, according to JLL India.

According to JLL India, since January last year, real estate developers have paid approximately Rs 5,000 crore to acquire 1,461 acres of land in Tier 2 and 3 cities to grow their enterprises. Most of the land bought in these cities will go toward planned development.

Between January 2022 and October 2023, real estate developers in the nation purchased about 3,294 acres of land, according to a statement from real estate consultant JLL India.

JLL data indicates 17 land deals totaling 1,461 acres in Tier 2 and 3 cities between January 2022 and October 2023. Approximately Rs 4,918 crore was the total value of these land deals.

According to the consultant, well-known real estate developers enter new markets by relocating to Tier 2 and 3 cities nationwide.

Developers are making their way into northern cities such as Panipat, Sonipat, Kurukshetra, Panchkula, Lucknow, Jaipur, and Ludhiana, while national players are in western cities like Nagpur, Khalapur, Surat, and Palghar.

JLL stated that approximately 92% of the 1,339 acres of land acquired in Tier 11 and 111 cities are for planned residential developments, which include townships, group housing, and plots.

In these cities, developers typically focus on low-rise and plotted developments because the residents are used to living in these arrangements. In actuality, 1,015 acres worth of land valued at more than Rs 3,163 crore have been reserved and set aside for planned developments, according to JLL.

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.

HDHMR board: Understand Benefits, Costs, and Drawbacks

Posted on November 17, 2023 by supriya

Plywood and medium-density fiber (MDF) boards have struggled to stand up to high-density high moisture resistance (HDHMR) board’s superior density and moisture resistance. This upgraded plywood comprises highly engineered wood, which gives it more durability and a longer lifespan. It is a fantastic option for furniture, cabinets, and storage units because of its flexibility and versatility.

Very high moisture resistance, or HDHMR for short, is an engineered wood product. The product is made by heating waste forest wood and small fiber chips under intense pressure. After that, the finished product is coated with substances that withstand moisture, strengthening and preventing it from warping. HDHMR is an environmentally friendly substitute for wood because it originates from waste from wood.

What is the board for HDHMR?

High-density, high moisture resistance engineered wood boards (HDHMR). The board’s exceptional strength and moisture resistance are well known. HDHMR is made with fiberboard technology and typically consists of wood fibers comprised and bound with resins. Depending on the intended use, the board’s thickness typically ranges from 12 to 30 mm. HDHMR finds wide applications in cabinetry, furniture, doors, and wall paneling. It provides the right combination of strength, durability, and resistance to moisture-related issues and is well-known for its stability in busy and humid environments.

HDHMR board applications in building construction

Furniture and Cabinetry

The HDHMR board is an excellent material for building furniture pieces and cabinets due to its density and strength. Because of its strength, HDHMR cabinets and furniture pieces are resistant to deterioration. It provides a robust and long-lasting solution for use in commercial and residential settings.

Window and door frames

HDHMR board is ideal for building door and window frames because of its ability to withstand moisture. These perform incredibly well in places like coastal regions that are prone to high humidity and moisture exposure. HDHMR is a dependable material option that endures inclement weather, guaranteeing the longevity of window and door installations.

Wall paneling

HDHMR board offers a smooth and even surface that readily takes different finishes, making it an excellent option for wall paneling applications. Its adaptability and flexibility give designers a great deal of freedom to create complex patterns and designs, causing interior spaces to look better. You can paint, veneer, or laminate the walls to boost their visual appeal.

Busy locations

The HDHMR board’s high density makes it an ideal option for offices, retail spaces, and places with lots of foot traffic. Hence, these are used widely for flooring and wall cladding. Because of its resilience to heavy use, it can tolerate the wear and tear of regular use without losing its functionality or appearance over time.

Applications for kitchens and bathrooms

The HDHMR board is especially well-suited for applications in moist areas like bathrooms and kitchens because of its moisture resistance. Commonly utilized for wall coverings, countertops, and cabinets, the board is a dependable option that resists warping and deterioration due to water exposure.

Shelves and storage compartments

The HDHMR board is the best material for building shelves and storage units because it provides a subtle blend of strength and stability. HDHMR guarantees shelves that can bear large loads without sagging. As a result, they are frequently utilized in business storage facilities and residential closets to offer a sturdy and well-organized storage solution.

Benefits and Drawbacks of HDHMR board

Benefits of HDHMR board	Drawbacks of HDHMR board
The HDHMR board guarantees a longer lifespan for the final product by providing increased strength and durability.	The cost of HDHMR boards may exceed standard options, affecting project budgets.
It is ideal for moist areas like kitchens and bathrooms because of its superior moisture resistance.	HDHMR boards can be heavy due to their high density, which requires careful consideration in applications where weight is a factor.
Ensures a surface that is consistently even and smooth, making it easier to apply finishes like paint, laminates, and veneers.	The restricted availability of HDHMR boards compared to other materials might affect their accessibility.
Show less vulnerability to warping or expanding, preserving dimensional stability regardless of environmental stability.	It may not be as versatile in some projects as other materials because it comes in as many thickness options.
It allows for flexibility in design and customization because it is simple to shape, cut, and machine using standard woodworking tools.	There may be chemical and adhesive usage during the production of HDHMR boards, which raises environmental concerns.
It is resistant to scratches and dents, making it suitable for high-traffic areas prone to potential damage.	HDHMR boards may or may not offer design options as other materials, which could not limit the aesthetic options available, depending on the type and brand.
A few HDHMR boards might have fire-resistant characteristics that improve security in some applications.	Because of its weight and density, it requires expert installation, which could raise labor costs.
HDHMR boards may offer long-term durability with mixes by fending off terminate damage.	As an additional step in the installation process, proper edge sealing is essential to preventing moisture penetration.
It adheres well to paint, enabling a variety of colors and modifications.	Eco-friendly features are one option; other options include varying degrees of sustainability overall and careful consideration of sourcing methods.

To sum up, HDHMR is an essential tool for the building sector. It is common for wall paneling, bathroom vanities, shelving units, and cabinets. The HDHMR board guarantees long-lasting strength and durability and improves the quality.

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.

MHADA 2023 Lottery

Posted on November 17, 2023 by supriya

Owing to the overwhelming response, MHADA has rescheduled the due date for the Pune and Konkan lottery schemes. By November 11 and November 12, 2023, interested candidates can now register for the Pune and Konkan MHADA lottery schemes. Read on for details on the crucial dates, the registration procedure, and the requirements to apply for the MHADA lottery scheme.

Lottery Konkan MHADA (September 2023)

Under the new housing scheme, the Konkan board of MHADA has made about 5,300 homes available. The houses are between Rs 9.89 lakh and Rs 41.8 lakh and reside in Thane, Kalyan, Palghar, Virar, and Vasai. 5,311 houses are part of the Konkan lottery scheme; 1,010 are under PMAY, 1037 are integrated townships, 919 are under the inclusive housing scheme, 67 are for journalists, and 2,278 are on a first-come, first-served basis through the Konkan board.

Konkan MHADA lottery: Scheme Types for 2023

Scheme	Homes
Konkan Board PMAY	1,010
Integrated Township Project	1,037
Inclusive Housing Scheme	919
Konkan FCFS Scheme	2,278
Reserved for Journalist	67
Total	5,311

Konkan MHADA lottery 2023: Important Dates

According to MHADA’s most recent update, the Konkan MHADA lottery scheme 2023 dates have changed. The revised timeline states that prospective buyers can register for the program by November 15, 2023, using the official website. Payment methods include RTGS, NEFT, and online. According to MHADA, the Konkan MHADA lottery 2023 event schedule has been revised and released.

Process Timeline: September 15, 2023
Deadline to Register: November 14–23
Application Deadline: November 15 to 23
The time limit for online, NEFT, and RTGS payments is November 17–23.
Approved Applications’ Final List, 11-Dec-23
Date of Draw: December 13-23
Date of Refund: 20-23 December

Konkan MHADA lottery 2023: Payment Details

The housing scheme application fee is listed below:

Application fee required	Codes for schemes in different colonies
INR 5,590	270-C, 271-c, 279-A, 281-B, 324-A, 345, 356, 282-B, 336, 371, 377, 381
INR 10,599	355, 299-A, 300-A, 301-A, 302-A, 317-B, 338-A, 340-A, 343-A, 375, 358, 359, 360, 362, 363, 363, 367, 368, 369, 370, 372, 373, 375, 376, 378, 380, 383, 353-A, 256-D, 263-D
INR 15,590	374, 379, 267-B, 257-D, 264-D

The application fee amount is subject to an 18% GST.

How do I apply for the 2023 Konkan MHADA lottery?

To apply for the new Konkan MHADA lottery scheme (code 267-C), the user needs to follow these steps:

Step 1: Go to MHADA’s official website.

Step 2: Register by creating a user name and entering the necessary data.

Step 3: Decide on the plan and lottery.

Step 4: Pay online and print the acknowledgment.

Konkan MHADA lottery 2023: Required paperwork for the MHADA program

Applicants for the 267-C Kokan FCFS Lottery 2023 must keep the following documents on hand:

Mobile Number linked with Aadhar Card
Email address
Aadhar Card
PAN Card
Spouse Aadhar Card (if married)
PAN card for a spouse (if married)
Proof of domicile
ITR (self)
ITR of spouse
Requirements for caste
Specific category requirements

September 2023 Pune Lottery-MHADA FCFS

The Pune board of the Maharashtra Housing and Area Development Authority has announced a lottery for 5,863 affordable homes in Pune, Sangli, Solapur, and Kolhapur (MHADA). The apartments to sell in the September 6, 2023 lottery cost between Rs 5 lakh and Rs 1.11 crore. There will be 5863 houses available under the Pune MHADA Lottery scheme, first come, first served. The flats range in price from 1 BHK to 3 BHK. The scheme’s smallest apartment is 204 square feet, while the largest is approximately 1,087 square feet. At Rs 5 lakh, the least expensive apartment is available in Kagal, Kolhapur.

At Rs 1.11 crore, the most expensive apartment is a 3 BHK in Sant Tukaram Nagar, Pimpri. The carpet area of this apartment is around 882 sq ft.

Preceding the Mumbai MHADA lottery, the Pune MHADA FCFS Lottery 2023 will employ the IHLMS 2.0 computerized system for processing entries. Online entries for the MHADA (Pune) Lottery Scheme will be available at the MHADA office in Pune’s Housing Building in Agarkar Nagar.

Vital Dates for the September 2023 Pune MHADA FCFS Lottery

Protocol	Timeline
Date of registration opening	6 Sept.23
The deadline for registering	11 Nov.23
Last day for submission of online application	11 Nov.23
The last day to accept payments online	11 Nov.23
The deadline for paying the deposit amount in a bank via RTGS Or NEFT	13 Nov.23
Approved Applications List	15 Nov.23
Online lottery	20 Nov.23
Refund Date	24 Nov.23

How can I apply to the 2023 Pune MHADA lottery?

The following details the application procedure for the Pune MHADA lottery:

Step 1: Go to MHADA Housing’s official website.

Step 2: Create a username and provide the essential information to register.

Step 3: Print the acknowledgment after choosing the “FCFS SEPT 2023” lottery scheme.

Step 4: Your registration is complete once you have paid the necessary amount.

Pune’s September 2023 MHADA lottery: The amount of Deposit

Payment is due at the stage of registration for the Pune MHADA lottery scheme. You must pay the following fee:

Group by	Deposit money
LIG apartments	Rs 20,000
MIG flats	Rs 30,000
HIG flats	Rs 50,000

Note: The GST component of every payment will add Rs 708 to it.

Mumbai’s MHADA Lottery for 2023

After several rumors about the MHADA Lottery 20 to rest, the authority officially revealed the eagerly anticipated program. First announced in Mumbai following the pandemic, this is the first MHADA lottery scheme. With more than 4,000 apartments available throughout the city, the Mumbai MHADA lottery scheme for 2023 is currently closed for applications. Applications were extended to July 11, 2023, from their original deadline of June 26, 2023. Additionally, the final list of applicants who were accepted was delayed by the authority and released on July 28, 2023.

About 530 of the more than 1.2 lakh applications that the agency received recently were denied. Also, approximately 15,000 applications have undergone review. On August 14, 2023, at 2:00 PM, the Mumbai board held an online draw for the MHADA lottery scheme at the Yashwantrao Chavan Centre Auditorium in Nariman Point. For apartments in Juhu, Andheri, Goregaon, Borivali Vikhroli Kandivali, Ghatkopar, Tardeo, Sion, and Powai, applicants have paid MHADA a total of Rs 519 crore. The lottery winners have chosen, and those who did not place a winning bid will shortly get an online refund.

The MHADA Mumbai apartments will be available for the EWS and LIG HIG categories, with prices ranging from Rs 34 lakh to Rs 4 crore. Broadening the MHADA Mumbai Lottery 2023 is to attract more applications and surpass one lakh. Over 73,000 of the applications received had already sent in their Earnest Money Deposits (EMDs) before the deadline.

Mumbai’s MHADA lottery 2023: Online Draw

On August 14, 2023, the MHADA lottery (Mumbai) 2023 draw took place. A new time of 2 PM was set after the original 11:30 AM appointment. The 3,515 eligible winners of the house draw received their provisional MHADA lottery winners’ letters. September 4, 2023, saw the online delivery of the letters to the 4,082 Mumbai Board of MHADA homes. The letter states that the winners have 45 days, or until October 19, 2023, to pay 25% of the flat’s total cost.

Details of the Mumbai MHADA lottery 2023 scheme

The details of the Mumbai MHADA apartments available under the most recent MHADA lottery scheme for 2023:

Groups	Annual Income Slab	Number	Locations
Economically Weaker Section (EWS)	Upto Rs 6 lakh	2,790	Pahadi in Goregaon, Antop Hill, Kannamwar Nagar in Vikhroli
Lower Income Group (LIG)	Upto Rs 9 lakh	1,034	Pahadi in Goregaon, Dadar, Antop Hill, DN Nagar in Andheri, Pantnagar in Ghatkopar, Vikhroli, Charkop, Malad, Kandivali, Borivali, Mulund and Mankhrud
Middle Income Group (MIG)	Up to Rs 12 lakh	139	Goregaon, Kandivali, Juhu, Andheri, Dadar, Byculla, Tilak Nagar in Chembur, Sion and Antop Hill
High-Income Group (HIG)	Above Rs 12 lakh	120	Juhu, Andheri West, Wadala, Tardeo, Lower Parel, Kandivali, Tunga Powai, and Sion

How can I apply for the 2023 MHADA Lottery?

MHADA intends to decrease the amount of human involvement in document verification. Participants may apply online for the MHADA lottery scheme in 2023 if they have all the required documents. Here’s the procedure:

Candidates must first register on the MHADA official website to apply for the MHADA lottery scheme 2023.
Everyone must create a “User Name” to register for the MHADA lottery.
Afterwards, prospective candidates must “Select the lottery and scheme.”
Finally, you must use net banking to pay via the web.

MHADA lottery 2023: Apply online

Mumbai residents now have access to affordable housing options because the MHADA authority announced the MHADA lottery 2023. Starting May 22, 2023, individuals can register online for the MHADA Mumbai scheme. On the official MHADA website, interested candidates can view the Mumbai MHADA lottery 2023 application form online date.

MHADA lottery 2023: Pre-application process

Before applying for the Mumbai MHADA lottery 2023, interested parties must have their information verified. Below are the steps to do the same:

Go for the MHADA housing scheme.
Sign up with a PAN Card and an active mobile number.
The Digilocker will authenticate the Aadhaar number.
Upload the required files, and the MHADA board will confirm them before approving the application.
The applicant can continue the application after providing an e-signature and self-declaration.

Property e-auctions: A new digital method of purchasing properties

Posted on November 17, 2023 by supriya

Will real estate transactions continue to slide as the digital age becomes increasingly integrated into our daily lives? Maybe not! We are grateful for the modern practice of online auctions, which allows us to bid on properties from the comfort of our homes. Thus, how does it occur? How does this work? Everything you need to know is right here. For more information on e-auction property, continue reading.

Many banks and private sellers are offering lucrative properties now that real estate auctions are occurring online. But even the e-auction of properties has some tax and legal ramifications that the buyer should be aware of. This article provides information on e-auctions of property, including definitions.

Meaning of e-auction property

The method for selling real estate through an internet platform is known as an electronic auction. It is an open and effective method of purchasing and selling real estate. E-auctions have become increasingly popular in India because they are easy to use and convenient. Interested buyers can submit a bid on the property of their choice during an electronic auction. There is no requirement for physical presence because the bidding process takes place online. It makes it possible for purchasers to attend the auction from various locations.

E-auction of property: Things to think about before buying

You can improve your chances of making a profitable purchase at an e-auction by taking into account these factors:

Examine the property: You might come across conflicting legal titles if you do not finish your homework in advance. Therefore, before attending the auction, verify the facilities, legal standing, address, encumbrance certificate, and outstanding lawsuits.
Assign funds: Establish a budget to prevent overspending and guarantee a successful investment. Make sure you know the market value of the property, the potential cost of renovations, and any additional taxes before you make an offer by researching.
Know how an auction works: Find out if there are any other costs or fees related to the participation, and be aware of the registration requirements and bidding guidelines.
Verify the seller: Determine whether the seller truly has the right to sell the property by investigating their legitimacy and authenticity. To prevent future legal issues, ensure to gather all required paperwork and confirm their ownership rights.
Examine the property: Examine the property you are considering and search for any issues that could raise the future costs of maintenance and repairs.
Seek expert counsel: Speak with a reputable attorney to gain insightful knowledge about the procedure and direction for your choice.

Property e-auction: Benefits and Drawbacks

Property e-auctions come with benefits and drawbacks, including:

Benefits

Reduced Prices: e-auction properties frequently have lower opening bids, allowing buyers to buy properties at a discount.
Large Selection: More residential, commercial, and industrial properties are available at e-auctions, providing buyers with more options.
Transparency: Because e-auctions happen online, the bidding process is transparent, enabling buyers to view the latest highest bid and make well-informed decisions.
Convenience: Instead of visiting multiple listings in person, buyers can participate in e-auctions from the ease of their homes.

Drawbacks

Competition: Because e-auctions draw a lot of buyers, there is more competition, which could raise the winning bid amount.
Inspection challenges: Since online auctions frequently offer few opportunities for in-person visits, buyers may encounter obstacles when attempting to inspect the property before placing a bid.
Uncertain property condition: Because e-auction properties are sold “as-is,” purchasers may need to make unforeseen repairs or deal with unexpected issues following purchase.
Legal risks: It is crucial for buyers to thoroughly research the property’s legal status and ownership history to avoid any legal complications.

What is the difference between Jamabandi and Intkal?

Posted on November 17, 2023 by supriya

Intkal pertains to the transfer of land ownership in terms of land terminologies. It is an essential resource for landowners, potential purchasers, governmental organizations, and other pertinent legal entities because it clarifies who owns what. However, what is the difference between Jamabandi and the Intkal certificate, and what does it include?

Intakal keeps track of changes in land ownership. Notifying the appropriate land revenue or local authorities of a change in ownership or interest in a specific parcel of land is the first step in the process. It helps to ensure smooth land transactions and averts possible legal disputes by clarifying who owns it.

What Intakal means

This ownership transfer can occur through a gift, lease, inheritance, survivorship, or registered deed. To put it plainly, Intkal is the official procedure for managing land records to reflect changes in ownership. It is essential to land transactions, legal observance, and the upkeep of correct and current land records.

The distinction between Jamabandi and Intakal

Intakal refers to the title and ownership transfer of land, as was previously mentioned. The official process of registering or updating the land ownership details with the local authorities is also known as mutation. It is an essential step in land transactions and provides evidence of property ownership.

A land record document that details the revenue history of a parcel is known as Jamabandi. It covers every detail one could want to know about land ownership, different kinds of land, farming, and its rights and responsibilities. It updates the Jamabandi every five years. Any change made during this period to the land or property’s title or interest is recorded in Intakal and then added to Jamabandi.

What is the Intkal certificate issuance time?

It typically requires at least thirty days to issue the Intkal certificate following the application and supporting documentation’s successful submission.

So, Intkal is an essential legal and administrative process that guarantees that land records appropriately reflect any ownership changes and the property’s current status.

The Complete Guide to the National Company Law Tribunal (NCLT)

Posted on November 8, 2023 by supriya

The Insolvency and Bankruptcy Board of India has suggested certain modifications to address the problems encountered by real estate projects. Real estate projects should be required to register with the Real Estate Regulatory Authority (RERA), according to suggestions made by the IBBI. Additionally, the authority has recommended that homeowners’ properties remain outside the liquidation process.

To ease the bankruptcy process, the IBBI has suggested the following five modifications. The modifications include creating a distinct account for every real estate project, granting the Committee of Creditors permission to execute a lease or sublease agreement while the matter is pending, and giving the CoC access to review and recommend distinct plans for every project.

IBBI has invited public feedback on the proposed revisions. Homeowners whose investments stagnate in unfinished projects will likely benefit from the proposed amendments.

Concerning the NCLT (National Company Law Tribunal)

In India, the National Company Law Tribunal has proven to be a reliable mechanism for resolving disputes between homebuyers and real estate builders in many cases. The Insolvency and Bankruptcy Code of 2016 required the National Company Law Tribunal to handle cases involving real estate developers’ bankruptcy and insolvency, even though the Real Estate Regulatory Authority (RERA) was in place in most states.

Full-Form of NCLT

Those unfamiliar with the NCLT might be interested in learning what the NCLT Full Form comprises. The full name of the National Company Law Tribunal is NCLT. Every month, the National Company Law Tribunal publishes an NCLT Cause List that includes information about the parties, case, and state of resolution. The website for NCLT is https://nclt.gov.in/.

Describe NCLT.

A quasi-judicial body that primarily handles disagreements and matters about Indian companies and corporations is the National Company Law Tribunal. The 2013 Companies Act established the tribunal in 2016.

The NCLT is involved in the agreements, compromises, arbitrations, reconstructions, divestitures, and business winding up. The Companies Act of India grants the National Company Law Tribunal the authority it requires to carry out its duties. Under the 2016 Insolvency and Bankruptcy Code, the National Company Law Tribunal acts as the deciding authority for cases involving companies and Limited Liability Partnerships (LLPs).

Main Purposes of NCLT

The following are the principal roles of NCLT:

Registration of Companies: NCLT can challenge a company’s legitimacy during the registration and incorporation method. NCLT is also able to revoke the company’s registration.
Transfer of shares: The NCLT hears complaints from businesses that have had their requests to transfer shares and securities denied.
Deposits: If a depositor has concerns, they can contact NCLT to request an omissions remedy.
The power to investigate has the power to order an investigation.
Asset freezing: When a company is the subject of an investigation, the assets may be frozen and used later.
Changing a public limited company into a private limited company: NCLT approval is needed if someone wishes to change a company’s status from public to private.

The NCLT Cause List: What is it?

To hear cases of the companies, NCLT periodically publishes a list of cases known as the “NCLT Cause List.” The NCLT Cause list is nothing more than a calendar of the cases presently due for hearing on a given day. The NCLT Cause List order follows in holding the hearing.

Names of the Parties, counsel for the petitioner/ applicant, counsel for the respondent, remarks, serial number, CP number, CA/IA number, purpose, section, and rule are among the fields in the NCLT Cause list.

How can I access the NCLT Cause list on the Internet?

The NCLT Cause list includes the hearing schedule and the details of the parties to the dispute. To check the NCLT Cause List online, follow the mentioned steps-

Visit https://nclt.gov.in/, the National Company Law Tribunal’s website.
Select the “Cause List” tab from the website’s home page.
You will see a page open with a “PDF Cause List.”
It’s possible to look up the cause list from any NCLT branch in this window. The date range is another option.
Select “Search” from the menu. You will see a list of the “NCLT Cause List.”

Indian luxury house demand is skyrocketing.

Posted on November 8, 2023 by supriya

India is seeing a historically high demand for luxury real estate, changing the country’s skylines and definition of wealth. India’s luxury real estate market is booming and becoming increasingly alluring. There are properties ranging from grand estates with the best craftsmanship to large penthouses with panoramic views. According to data recently released by real estate consultancy firm Anarock, the average cost of luxury housing units in India, which has a value of over Rs 1.5 crore, has increased by a remarkable 24% this year over last.

This article factors in the reasons behind the growth of the luxury housing segment and looks at India’s dynamic luxury housing market.

Modification of Consumer Behavior

In recent times, India’s dynamic consumer behavior landscape has undergone a significant transformation, with a remarkable resurgence observed in various industries following the difficult lockdown period. In recent times, India’s dynamic consumer behavior landscape has undergone explosive growth in housing market investments. Real estate has been one industry that has grown during this economic transformation. The country’s luxury housing market has grown significantly over the past two years, according to CBRE’s “India Industry Monitor Q1 2023” report. Notably, there was an incredible 151 percent annual increase in the sale of luxury homes during the first quarter of 2023. However, this increase in demand for residential real estate has also resulted in a notable change in consumer behavior, particularly in urban centers like Bengaluru and Hyderabad, where considerations like sustainability and design have become more significant when deciding to buy a home.

Realizing that the market for residential real estate is expanding, developers have started to capitalize on improved architectural design and curb appeal. Developers are responding to the changing demands of homeowners by giving priority to design elements that suit their preferences; this creates a more comprehensive and fulfilling living environment. The expansion of the luxury market in India is indicative of a broader trend in the country’s real estate sector.

Anarock data shows that over the previous five years, the average price appreciation of luxury homes in the top seven cities has been an impressive 24%. On the other hand, the cost of affordable homes has increased by a more moderate 15% over the same time frame.

Important Elements

One of the main factors driving the demand for luxury real estate in India is the growing middle class. People are actively looking for homes that fit their elevated social lifestyle and newfound affluence as this segment grows. The increasing disposable income of many Indians has a connection with the growing preference for luxury real estate. People now have more disposable income to invest in luxury goods and real estate properties, thanks to their higher salaries.

With the desire to live an opulent lifestyle, the demand for luxury residences has experienced a remarkable increase. Mumbai Metropolitan Region (MMR) and Bengaluru have experienced substantial increases in average prices within the budget segment, each by 27%. Bengaluru’s luxury home prices have risen from Rs 10,210/sq.ft in 2018 to Rs 12,970/ sq.ft. In MMR, the average price has increased from Rs 23,119/sq ft in 2018 to Rs 29,260/ sq.ft.

Adjusting Adjustments

Rising luxury living in India has brought about several adaptable changes that mirror the shifting tastes and aspirations of the affluent. The incorporation of intelligent technology is one noteworthy adaptation found in luxury homes. With the help of voice commands or smartphones, homeowners can now control their home’s lighting, temperature, security, and entertainment systems, enhancing warmth and convenience.

Furthermore, to keep up with resident’s growing environmental consciousness, luxury properties are incorporating eco-friendly features like solar panels, rainwater harvesting systems, and energy-efficient appliances. Sustainable living has become a focus. With developers adding features like rooftop gardens, infinity pools, private theaters, wellness centers, and concierge services, luxury has also come to mean experiencing life to the fullest.

Bottomline

In conclusion, the real estate market is experiencing a profound shift due to the growing need for luxury real estate. This shift has driven prominent developers to revolutionize the Indian residential market by employing innovative design and architecture methods that appeal to current and future generations. Those who anticipate and cater to this discerning market segment will be well-positioned for future success as the industry evolves.

Registration fees and stamp duty in Goa in 2023

Posted on November 8, 2023 by supriya

Goa’s breathtaking scenery and stunning beaches make it the perfect destination for a holiday. Additionally, this state is the ideal location for owning a home or investing in real estate. However, purchasing a home is a challenging task. It entails a great deal of taxing and paperwork. Following your purchase, you must register your property by the Registration Act of 1908. To finalize the procedure, you also need to pay the state-imposed taxes of stamp duty and registration fees in Goa, which gives the property document legal status. This article will examine the registration procedure, stamp duty, and registration fees in Goa, as well as the payment options for these fees.

Stamp Duty Act of Goa

Section 3 of the Indian Stamp Duty Act 1899 directs the state government to levy stamp duty. In addition to increasing government revenue, the stamp duty in Goa gives the document legal status. To legally register the property, payment of stamp duty is required. If the charges are not paid, there is a penalty of up to 200 percent of the initial sum.

In Goa, the circle rate of the region determines the stamp duty; the state government sets these rates. The owner’s age, gender, location of the property, amenities provided, and kind of property are all factors that influence the circle rates. Due to the high circle for a prime location, stamp duty charges will be higher for that particular property. It is important to note that stamp duty depends on the market value of the property. Like this, not all states grant women a discount on stamp duty; Goa is an exception.

Stamp Duty and Registration Fees

In contrast to other states, Goa levies stamp duty and registration fees based on the property’s market value. In states like Punjab and Uttar Pradesh, stamp duty rates for men are the same regardless of the property’s value.

The following are the stamp duty and registration fees in Goa in 2022:

Market Value	Registration charges in Goa	Stamp Duty in Goa
Upto Rs 50 Lakhs	3%	3.5%
Above Rs 50 lakhs up to Rs 75 lakhs	3%	4.5%
Above Rs 75 lakhs up to Rs 1 crore	3.5%	5%
Above one crore	3.5%	5%
More than Rs 5 crore	3.5%	6%
Contract for sale	3%	2.9%
Act of Correction	Rs 500	Rs 500
Conveyance Deed in Housing Co. Op. Societies’ Favor	1.5%	3%

Goa Stamp Duty Calculated with AI

Goa computes stamp duty using the National Generic Document Registration System (NGDRS). Following Andaman & Nicobar, Punjab, and Manipur, it is the fourth state to adopt NGDRS.

The Goan state government posts the market price of each land parcel on the sub-registrar portal to facilitate the execution of deeds of sale for individual parcels.

This data will be used by an artificial intelligence (AI) system to calculate the amount of stamp duty that must paid. For every survey number, the revenue department will calculate the land price and update it on the portal.

The stamp duty process will be quicker and more effective thanks to the AI system, which will minimize human intervention.
Every year, the AI system will update the rate based on suggestions made by the revenue department.

How Can I Pay Goa Stamp Duty?

The registration process requires the payment stamp duty using the methods below.

Buying stamp paper: In Goa, this is the most popular and practical method of paying stamp duty. An authorized individual can sell you a stamp paper that contains all the information about the real estate transaction. You must turn in the stamp paper to the sub-registrar in the state registration department within four months of the date of issuance.
By franking, both parties sign a property agreement on a plain. Subsequently, the authorized bank receives the agreement and documents it further using a franking machine. Also, banks charge franking charges. Generally, franking charges are 0.1% of the property value.
E-Stamping: By going to the Document Registration website in Goa, stamp duty fees may be paid via the Internet. The website calculates the stamp duty, payable with a debit card, credit card, or net banking facility.

Diwali Deal: 50% discount on PropertyWala.com advertising packages

Posted on November 6, 2023 by admin

Celebrate the festive season and make it even more special with PropertyWala.com deals for Diwali.

Package	Diwali Silver	Diwali Gold	Diwali Platinum	Diwali Diamond (Leads only)
Validity	6 months	9 months	12 months	12 months
Property Listings	100	200	300	–
Buyer Lead Credits	200	400	600	900
Featured Agent Logo (City page & Search page)	6 months	9 months	12 months	–
Offer Price (Inclusive of GST)	~~Rs 18,000~~ Rs 8,999	~~Rs 26,000~~ Rs 12,999	~~Rs 34,000~~ Rs 16,999	~~Rs 34,000~~ Rs 16,999
	Buy Now!	Buy Now!	Buy Now!	Buy Now!
Note: These limited time offers are available online only and changes or further discounts are not possible. For any help please contact us.

Offers available for a limited time only. So hurry and take advantage and have a prosperous Diwali!

Best Regards
PropertyWala.com Team
www.propertywala.com

* Offers cannot be combined with other offers or discounts. T&C apply.

Wish you a very Happy & Prosperous Diwali – 2023

A brief guide to using beautiful French windows to style your house

Posted on November 4, 2023 by supriya

French windows, a classic custom making a solid return, were all the rage in the past! They are still a classy accent to each traditional and modern home in the modern era! This article will assist you in exploring various French window types, designs, benefits, and essential factors for high-quality installations if you are contemplating redesigning your interior ventilation decor.

French windows paint quite the scene, don’t they? Plenty of sunlight streams into the space through clear glass panels that lead to picture-perfect views. Envision the style of one exquisite window, tying the entire room’s aesthetics together. But why don’t we familiarize ourselves with the fundamentals of this window type before we begin making plans for a French window? Let us start by providing a brief definition of French windows before talking about the different designs, installation advantages, and quality control procedures covered in this article.

What distinguishes a French window from other kinds of windows?

A prevalent design element that gives style and utility to any area is the French window, sometimes known as the French door. These big windows, typically composed of glass panels, can be opened to the inside or the outside, providing an abundance of natural light and simple access to the outside. French windows are the best choice for those who wish to enjoy the beauty of the outdoors while seamlessly blending indoor and outdoor living spaces. A French window differs from other window styles in how it opens and how much natural light it lets into a room. A French window offers benefits all by itself. The section below enumerates some advantages of incorporating a gorgeous French window into your home.

How is a French window going to help your house?

Homeowners choose French windows because of their sophisticated appearance and many advantages. The following are some benefits of adding French windows to your house:

Large glass panels on enhanced natural light French windows allow a lot of natural light into your house. It not only makes the area brighter but also uses less energy during the day by lowering the need for artificial lighting.
Ventilation: Better ventilation and airflow are available when you install French windows. Fresh air can flow freely through the large opening provided by the double-sided window panels. Even better, this can maintain a pleasant and well-ventilated home.
Outstanding visual appeal: Any home can benefit from the classic French window design, which exudes sophistication and elegance. They offer a beautiful view of your surroundings and seamlessly connect indoor and outdoor areas.
Increase the value of the property: French window installation can raise your home’s value considerably. These fashionable windows are a great addition to any home and will likely draw in buyers in the future.
Diminishment of noise: Double-pane French windows with minimal external noise help create a calm and serene environment. If you live close to a major road or in a busy area, this is extremely helpful.
Efficiency in energy use: By minimizing heat transfer, energy-efficient glass for French windows can help keep your house warmer in the winter and colder in the summer. Lower energy costs and a cozier home are possible outcomes of this.
Simple Maintenance: French window maintenance is comparatively simple. All that is needed to maintain hinges and locks in good working order is routine cleaning and the occasional lubrication.

We all know that French windows can be a blessing for those who live indoors, but do you know about the various design options available depending on your room’s architecture or structure? Let us help.

Popular French window styles to improve your space’s visual appeal

Typical French window designs include the following:

French sliding window

In India, sliding French windows are a popular option for homeowners. It provides the ideal balance between style and utility. It gives a sense of refinement to any area with its streamlined appearance and easy sliding system.

Both in and out of the swing French window

Swings both in and out Another well-liked choice for raising the visual appeal of your room is French windows. These windows are renowned for their adaptability and timeless style. They can be easily opened inwards or outwards, depending on your preference. Because of their superior insulating qualities, they aid in preserving a cozy interior temperature.

Contemporary Fiberglass French Doors

For those who want a more contemporary appearance, modern fiberglass French windows are a stylish option. Because of their strength and longevity, fiberglass windows are used in their construction, allowing optimal natural light and ventilation. Overall, the fashionable and functional fusion of these well-liked French window designs is unmatched. When selecting French windows for your house or place of business, take these choices into account.

Delhi should immediately outlaw any non-essential projects.

Posted on November 4, 2023 by supriya

Delhi, the nation’s capital, has fallen into GRAP-3 as the quality of the air there keeps getting worse. In Delhi, it is currently illegal to perform any non-essential building or demolition work. Will the Delhi NCR region soon be subject to the construction ban? To find out how this change affects the city’s project deliveries, keep reading.

When smog is visible outside the window, history continues. Even though GRAP went into effect on October 1, 2023, the builders didn’t take any precautions on the construction sites. The authorities in Delhi NCR have prohibited non-essential construction activities due to the growing pollution problem. Continue reading to learn how this rise in pollution will affect the city’s construction sector.

The Commission for Air Quality Management (CAQM) made grim predictions at a recent meeting of the Commission for Air Quality Management (CAQM): unfavorable weather patterns will lead to an increase in pollution levels in Delhi NCR. On November 2, 2023, Delhi’s AQI of 402 was considered “severe” for air quality.

Not only is the construction industry impacted, but schools are as well. Moving to online learning is now recommended for schools. Additionally, the capital has prohibited the entry of light commercial vehicles and diesel trucks.

The nation’s capital is now using the Central Government’s GRAP-3 (Graded Response Action Plan) and has activated countermeasures for the category of “severe” air quality.

What are the stages of GRAP?

To monitor air pollution levels, Delhi NCR uses a set of procedures called the GRAP. Generally speaking, it consists of four phases based on the region’s consistent AQI.

Stages of the Graded Response Action Plan

The AQI	Area	Levels of GRAP
201-300	Poor	Stage 1
301-400	Very Poor	Stage 2
400-450	Severe	Stage 3
450 and above	Severe Plus	Stage 4

Millions of people’s health is at risk due to the unsettling smoky haze that blankets Delhi NCR every winter. The air continues to pollute despite interventions, with AQI levels regularly exceeding the safe limit. It is important to remember that any AQI value above 60 is considered hazardous to health.

October 2022 was a comparable month. The area’s AQI average was minimal during the final week of October 2022, but after November 1, 2022, the smog level rose to the “severe” category. On December 4, 2022, however, due to worsening air pollution, the authorities imposed a three-day restriction. Officials emphasized the significance of following dust control regulations even after the ban ended.

Specifies the GRAP-3 limitations

The Commission for Air Quality Management (CAQM) has responsibility for Stage 3 of the GRAP, which includes these strict guidelines. At this time, it is illegal to do the following:

Digging, filling, boring, and drilling are examples of earthwork
From fabrication to demolition, structural construction tasks
Construction material movement, including loading and unloading
The raw material shipment that includes fly ash
Moving cars on unpaved surfaces
Infrastructure projects like installing waterlines and sewers
Flooring projects utilizing stones, tiles, etc.
Grinding, painting, waterproofing, etc.

However, projects of railroads, metro, national security, and defense were exempt from the ban.

Actions taken to rescue pollution in Delhi

On November 1, 2023, Environment Minister Gopal Rai declared that the Delhi government had decided to prohibit diesel buses from the NCR States from entering the city. These days, the only buses that are allowed to operate legally are those that comply with BS-VI, run on electricity or run on CNG.

Government departments in Delhi have instructed their security personnel to get heaters so they will not have to burn fuel wood in the cold winter months. The purpose of this action is to lessen the impact of burning wood on the environment and to provide an alternate source of heat.

What effect might a construction ban have on Delhi NCR’s reality?

In the Delhi NCR, including Greater Noida West, Yamuna Expressway, New Gurgaon, Noida Expressway, Dwarka Expressway, Central Noida, Greater Faridabad, Raj Nagar Extension in Ghaziabad, Sohna Road, and Golf Course Extension Road, more than 4.5 lakh residential units are currently under construction. And the total number of units in these areas is over 4 lakh.

According to an industry report, a construction ban due to air pollution could be a severe setback to ongoing projects since residential projects in Delhi NCR typically take 6-8 years to complete. A halt to construction due to poor air quality might have serious consequences. It can delay a project at least three to four months if construction activity is for one month.

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.

PropertyWala.com

India's Premier Real Estate Portal

PropertyWala.com

Monthly Archives: November 2023

UP Housing and Development Board’s Awas Vikas Housing Scheme for 2023

Tenant Verification in Ghaziabad: Process, Documents, and Importance

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

How might real estate investors benefit from SEBI’s approval of small and medium-sized REITs?

A high-end residential project in Sector 66- Gurgaon

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

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

Chennai’s Oragadam district is home to the newly designed Godrej Sunrise Estate.

Using PEB Structures to streamline construction methods

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

Since January 22, real estate companies have acquired land parcels in Tier 2 and Tier 3 cities for Rs 5,000 crore.

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

HDHMR board: Understand Benefits, Costs, and Drawbacks

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

MHADA 2023 Lottery

Property e-auctions: A new digital method of purchasing properties

What is the difference between Jamabandi and Intkal?

The Complete Guide to the National Company Law Tribunal (NCLT)

Indian luxury house demand is skyrocketing.

Registration fees and stamp duty in Goa in 2023

Diwali Deal: 50% discount on PropertyWala.com advertising packages

Wish you a very Happy & Prosperous Diwali – 2023

A brief guide to using beautiful French windows to style your house

Delhi should immediately outlaw any non-essential projects.

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

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