Story Behind Jaypee’s Failure

Shri. Jaiprakash Gaur, the founder of Jaypee Group, had a single-minded focus after graduating from IIT Roorkee with a diploma in civil engineering. He decided to contribute to nation-building by branching off as a civil contractor in 1958 and founded Jaypee Group. The Group’s business interests include engineering and construction, cement, power, real estate, expressways, fertilizer, hospitality, healthcare, sports, and information technology. This article covers the story behind Jaypee’s failure. How did Jaypee start, what all the good things it did, what exactly went wrong, and what is the future now? One thing is for sure, if everything would have gone well, Jaypee would have completely changed the situation in Noida. It could have become the DLF of Noida. But could not. More than 20000 buyers are still struggling to get the homes of their dreams. Let us look at the story behind the making of Jaypee.

Work done by Jaypee:

Jaypee Infratech was founded in 2007 and it is the part of the Jaypee Group. So, let’s look at some of the successful works done by Jaypee Infratech.

1. Yamuna Expressway project:

The Group entered into the construction of expressways with a 165 km access controlled 6 lane super expressway along the Yamuna River connecting Greater Noida and Agra. You would know how well-developed the Yamuna expressway is if you have been to it. It has become a big boon for Noida. Jaypee has also built the Zirakpur-Parwanoo Himalayan Expressway. 

2. Jaypee’s Hotels and Resorts:

In New Delhi, Uttar Pradesh, and Uttarakhand, the hospitality division of the Group owns and manages five hotels. 

3. Jaypee’s Hospital:

The Jaypee Hospital is well-developed and offers excellent health facilities. The hospital is now commissioning 525 beds in the first phase of its intended 1200-bedded tertiary care multi-specialty complex.

4. Jaypee’s F1 Sports:

The Group hosted the inaugural Formula One Grand Prix of India on October 30, 2011. The track is anticipated to hold more top-tier international racing competitions in addition to F1. Though this was unsuccessful as F1 races did not succeed in India. 

5. Jaypee’s Real Estate:

The first real estate project of the group, Jaypee Greens Greater Noida, covers 452 acres. This distinguished municipality includes an 18-hole Greg Norman golf course, upscale homes, shopping centers, etc. 

India’s First Wish Town, a premier township featuring an 18 + 9 Hole golf course, world-class residences, commercial developments, numerous entertainment amenities, and acres of greenery, was Jaypee Greens’ second project when it was unveiled in Noida in November 2007. The group then started construction on Jaypee Greens Sports City and Jaypee Greens Wish Town Agra, two townships along the Yamuna Expressway and Jewar International Airport, which is scheduled to open soon, and is a 20-minute drive from the city center. 

But destiny was against Jaypee’s prosperity, and Jaypee’s fantasy township became a failure. So let’s talk about this township’s swindling and how many house buyers lost their dream homes.

Jaypee’s Failure in Real Estate:

Who doesn’t want to be the owner of their own home? All of us do. Not just any house, either. A perfect home must be spacious, well-connected to the rest of the city, have a room with a view, and have the best amenities. However, it has been more than 12 years since thousands of Jaypee Infratech Limited (JIL) home buyers in Noida were victims of the mother of all real estate failures in India. The long-drawn legal battles are ongoing, leaving more than 20,000 Jaypee home seekers running from pillar to post and many giving up.

Jaypee got the land of the wish town in return for building the Noida expressway for Rs 400 crores. The company launched 32000 flats, still, 70% of apartments are in the under-construction stage. This project did not show any signs of readiness for the completion date. Around 90% of buyers made their payment, but it was still claimed that progress has been made on this project, although there was nothing to show for it.

A total of 18,767 people paid a total of Rs.8,676 crores to the company. 1410 people received possession worth 528 crores with no registrations. 413 people canceled their booking and their refund of Rs 64 crores is still pending.

Reasons for the failure:

 The reason behind the Real estate failure of Jaypee are:

  1. Jaypee group took the money that buyers had paid for homes and invested it in other projects.
  2. The company invested the money in other businesses.
  3. The government changed at that time.

 Future of Jaypee’s Failure:

After a super-lengthy resolution process, Mumbai-based Suraksha realty group got the approval of financial creditors and home buyers to take over the company in June 2021. Furthermore, in its offer, Suraksha promised to deliver all Jaiprakash Associates’ pending housing units within 42 months. It has offered to pay Rs 125 crore upfront and infuse Rs 3,000 crore within 90 days for completing the stalled projects. It will also put Rs 300 crore receivable from Jaiprakash Associates for completing the pending housing unit. Since Jaypee was an extraordinary case, the finalization of the bids is pending before NCLT for more than 17 months for approval. After the approval, the 20,000 home buyers who have been waiting for their units in various housing projects of Jaypee can finally breathe a sigh of relief.

How to save tax on property – For sellers

When selling a property, sellers want to know how much tax they’ll pay and whether there is any way to reduce or avoid the tax. The article below focuses on capital gains tax for sellers who are selling a property.

A self-occupied house gives you two avenues of saving taxes which are the payment of interest and repayment of principal. You can get Rs 2 lakh deduction under section 24b of the Income-tax Act, 1961 on interest payment and Rs 1.5 lakh on principal repayment under section 80C.

What is a Capital asset?

Capital assets include land, buildings, jewelry, vehicles, trademarks, machinery, patents, and licenses. When a capital asset is sold and any profit is received, it is known as capital gains. Agricultural land is not a capital asset.


Capital gains tax on residential property for sellers:

To understand capital gains, let’s consider an example. Regarding residential property, there are two types of capital gains tax: long-term capital gain and short-term capital gain. We will now discuss these two taxes.

  1. LTCG (LONG-TERM CAPITAL GAINS)- If you hold a property for more than 24 months, you pay a flat rate of 20% tax on any capital gains. Exemptions are available in this.
  2. STCG (SHORT-TERM CAPITAL GAINS)- If you hold the property for less than 24 months, you will be charged short-term capital gains tax. The government taxes the individual at their slab rate of income tax. If you are in the 30% bracket, then STCG will be 30%. You do not receive any benefits for indexation (i.e., inflation). The amount for which you purchased the property and sold it, the difference will be taxed.

The following chart illustrates and differentiates between long-term capital gains and short-term capital gains.

CAPITAL GAINS ON RESIDENTIAL PROPERTY                STCG                         LTCG
TIMELess than 24 months(2 years)        More than 24 months (2 years)
TAX@Slab       Flat rate 20%
EXEMPTIONNo    Yes
INDEXATIONNo       Yes

Capital gain tax exemption:

Furthermore, we will discuss three ways in which you can save on long-term capital gains tax when selling residential property and other assets.

  1. SECTION 54- Under section 54, individuals and Hindu undivided families (HUF) can claim tax benefits on residential property they own. The minimum holding period is two years. It is important to note that only residential properties qualify for this section; commercial properties do not qualify. Next, the residential property must be a constructed property that you are selling. If you are selling the residential plot, then you will not get any benefit from it. If you invest the profits received from the proceeds in the purchase of 1 or 2 residential properties or the construction of another property, you will get a complete exemption from long-term capital gains tax.
    1. The capital gains from selling the property must be put in a new property which can be purchased within 1 year of the sale or within 2 years of the sale, in order to claim tax exemption. Similarly, if you are constructing a property, then for the forthcoming 3 years, if construction is completed, tax exemption will be available for you. Here, you only need to invest the number of capital gains i.e. profits; you do not have to invest the entire amount.
    2. FOR EXAMPLE: Twenty years ago you purchased a residential property for Rs 60 lakhs. And now sold it for Rs 90 lakhs. So 30 lakhs is a long-term capital gain (LTCG). Invest this 30 lakhs in 1 or 2 properties or some construction work; you don’t need to invest the entire 90 lakhs. The maximum capital gain which you can claim is up to Rs 2 crores. This exemption can be claimed once in a lifetime and will be reversed if you sell this new property within 3 years from its purchase date. If you invest this amount into bank fixed deposits or a savings account, this cannot be claimed as an income tax exemption. Banks offer a capital gains account scheme if you wish to claim the tax exemption.
  2. SECTION 54EC- Any individual can open a capital gains account. Any asset like; stocks, mutual funds, bonds, and house property may be used as collateral for this type of account. A 3-year holding period is required, with the ability to invest within 6 months. The maximum amount that can be supported is 50 lakhs, but all must be invested in specified bonds with a 5-year lock-in period. These bonds offer good returns on investment and are available only through this type of account.
  3. SECTION 54F- Now, finally, we come to Section 54F. In this section, any individual or Hindu Undivided Family (HUF) can claim tax exemption on capital assets other than a house property. Such assets include bonds, stocks, commercial property, and plots. The person taking the exemption shall not hold more than one house property. To acquire the asset’s value, you must buy residential property or construct it. This section does not cover any plots. The time limit for claiming tax exemption is 1 year back or 2 years forward if you purchase a property; construction is forward 3 years.

There are some other conditions under SECTION 54F and i.e.;

  1. The entire sale proceeds must be invested. Invest the entire 90 lakhs and not a partial amount or capital gains on which you can claim full exemption. You can only claim a partial exemption if part of the money is invested.
  2. If you sell this new property within three years of its purchase, the exemption will be reversed.
  3. If you want to claim the capital gains tax exemption, invest in a capital gains account. You cannot claim this exemption on a savings account.

Things you should know about GST in Real Estate

Centre's FY22 GST compensation amount should be higher than projected Rs  1.58 lakh crore: Opp-ruled states - The Economic Times

OVERVIEW OF GST: 

In 2000, the late Atal Bihari Vajpayee, the then prime minister of India, initiate a committee to draft new indirect tax law and i.e. GST which stands for Goods and Services Tax. It was launched to replace multiple indirect taxes in India. Such as excise duty, value-added tax (VAT), services tax, purchase tax, octroi, entry tax, luxury tax, and so on. Here, propertywala brings every fact and figure that you should know about GST in real estate.

DEFINITION:

The Goods and Service Tax Act was driven in Parliament on 29th March 2017 but it came into effect on 1st July 2017. It is the only tax that applies all over India and imposes on the supply of certain goods and services. However, GST does not replace customs duty, which is still required on imported goods and services. Different categories of products and services attract different tax rates under GST.

Now, we will go ahead with the GST regime which is given by our Honorable Prime Minister Shri Narendra Modi, In his words, the Goods and Services Tax (GST) is “a path-breaking legislation for New India”. Then, GST is not just a tax reform but a milestone in realizing Sardar Vallabhbhai Patel’s dream of building ‘Ek Bharat – Shrestha Bharat’.


GST APPLICABILITY IN REAL ESTATE:

APPLICABLE
1. It is applicable to under-constructed flats only.
2. It is because the GST does not cover the real estate sector under its range. Therefore, the tax rate applicable on a property is charged under ‘work contracts.

 
NOT APPLICABLE
1. GST does not apply to ready-to-move-in flats, plots, and lands.
2. Upon completion and receiving the occupancy certificate i.e.(OC), the property is categorized as ready to move in. That is why a developer cannot charge GST on selling ready-to-move-in homes.

GST RATE ON REAL ESTATE 2022:

Everyone has a dream of a house. Well! It is fine if you are planning to buy a property. Because buying the right property is one of the biggest achievements in life. So, home buyers in India have to pay GST on the purchase of under-construction properties such as flats, apartments, and bungalows. Before hurrying on to the process, the foremost thing you must ask yourself is, “what is the GST rate on real estate?

PROPERTY  TYPEGST RATE FROM APRIL 2019
Affordable housing1% without ITC (Input Tax Credit)
Non-affordable housing5% without ITC
According to the table, if the property is affordable,  the GST rate from April  2019 is only 1% without ITC. Also, for non-affordable housing, the GST rate is 5% without ITC.

WHAT IS ITC?

Input Tax Credit refers to the tax already paid by a person on any purchase of goods and/or services that are used or may use for business. Therefore, it is available as a deduction from tax payable.

AFFORDABLE HOUSING AS PER GST:

According to government norms, housing units worth up to Rs 45 lakhs are referred to as affordable housing in metro cities in which carpet area measures up to 60 sq. meters. The Delhi-National Capital Region, Bengaluru, Chennai, Hyderabad, the Mumbai-Kolkata are categorized as metropolitan regions. A housing unit in non-metro cities barring to be an affordable house, if it costs up to Rs 45 lakhs and has a carpet area of up to 90 square meters as mentioned in the given table.

CITIESPRICECarpet AREA (SQ/M)
METROSup to  Rs. 45 lakhs60 sq./m
NON- METROSbelow Rs.4590 sq./m

SOME FACTS TO BE NOTED WHEN CONSIDERING GST IN REAL ESTATE:

  1. It does not subsume the stamp duty and registration charges, which you still have to pay.
  2. Seller increases the cost of ready-to-move-in properties to factor in the GST cost. So, overall the under-constructed properties are still cheaper than ready-to-move-in properties. 

That’s all you need to know about GST when it comes to real estate.

All you need to know about the sale deed

What are the steps in the process of buying a property?

Let’s first discuss the steps in buying a property. When purchasing a property, the first step is negotiating the price with the seller. To confirm the booking, you must pay an advance to the seller. A builder must first pay a 10% deposit and sign a booking form before purchasing a property. After the buyer and seller agree on terms, they sign a contract that includes a time period for payment (generally two to three months). But this is not a sale deed. It’s important to note the information, facts and details in a sale deed and here’s everything you need to know.

A sale is completed when the seller transfers ownership rights to the buyer. The deed of sale is drawn up and registered with a specific state authority, making it valid.

How is a Sale Deed Executed? – RoofandFloor Blog

What is Sale deed?

The deed of sale is a legal and final document transferring ownership of a property. It describes the terms of the sale and is signed by both the buyer and the seller. Depending on its purpose, a contract of sale may also be called a contract of sale or a contract of sale mortgage. A bill of sale is governed by the common law, the Contracts Act, the Transfer of Property Act, etc. It uses certain terms that are standard across all jurisdictions, but certain details relate more specifically to the Indian context such as consideration (usually the same as the amount paid).

Benefits of Sale deed:

  1. Protects Parties – A well drafted deed protects both the buyer and the seller by preventing ambiguity and minimizing legal risks.
  2. Defines The Area – Buyers find it helpful to specify the square footage and locations of properties on paper.
  3. A sale deed is a legal document that concludes a sale. It is enforceable by law.

Clauses / Elements in the Sale deed you should know:

The sale deed includes the following details:

  1. Details of the party – The details of the party include the names, ages, and addresses for both buyers and sellers.
  2. Details of the property The location of the property, a description of the property, and construction details.
  3. Payment details – Payment details will show you the price of your property. It also lists the payment mode like a credit card (Visa, MasterCard, Discover) or direct transfer from a bank account.
  4. Handing over the original papers of the property and the possession details.
  5. No dues on the property – On the property, no dues, such as loans, tax, liability, and other dues.
  6. Indemnity clause –  An indemnity clause in a sale deed provides protection for the buyer’s interests. It is important to draft the document with care to avoid future disputes. Indemnity clauses under the sale deed seek compensation if there are any losses or expenses in the future.

What is the process for executing a Sale deed?

  1. Draft sale deed – To execute a sale deed, you need to first draft a sale deed. This document records all of the property owner’s rights, duties, and interests in the property. This includes encumbrances, liens, loans, taxes, mortgages and deeds for neighboring properties if they do not belong to the same legal entity.
  2. Pay Stamp Duty – Stamp duty is a tax paid to the Indian government on the sale of real estate. It is usually paid by the buyer and varies from state to state. For more details see our detailed video on stamp duty.
  3. Signed – Both buyer and seller must sign the sales deed. This document ensures that they have both agreed to the terms of the sale transaction. The deed must be registered within four months of the date it was signed in order to be valid.
  4. Registered – A sale deed serves as both proof of ownership and an essential legal document required for taxation purposes. It is an affidavit signed by both the seller and buyer. This is submitted to the revenue department when registering property under several tax laws. It must be registered within 4 months of signing the document. If this deadline is exceeded, you risk losing your right to purchase the property.
  5. The seller gives the original documents – The seller delivers the original documents and the buyer pays to execute the sale deed.

The following are the important, procedural, and legal terms you should know about sale deed if you are planning to sell your house.

Best tips to hire a broker in India

Real estate is one of the largest industries in India. There are several companies of real estate agents who work as intermediaries between buyers and sellers of property. Finding an agent for real estate can be a difficult task. There are so many qualities and attributes to look for that finding someone who has them all is impossible. However, there are some basic qualities and tips to hire a broker in India.

Designated Agency Duties & 4 Good Reasons for an Exclusive Buyer Brokerage  Agreement - Illinois REALTORS

Here’s what you should know before hiring a broker in India:

  1. Whenever we hire a broker for our real estate transaction, we must list our requirements clearly. For example, what type of property you want, locality, etc. As brokers don’t specialize in the entire area. So, they might show options that they’re selling. So, make it your job to be clear about what you want to purchase.
  2. If you are looking for a best real estate broker, choose a registered one. This will provide you with another level of trust and credibility. The Real Estate (Regulation and Development) Act, 2016 (RERA) requires real estate brokers to be registered with the state RERA authority.
  3. You should always ask about the latest pricing and gauge the broker’s market knowledge. Excelled brokers always know about their localities’ future developments and capital rates. They should have good interpersonal skills and find out how good they are at conversing with clients.
  4. You need to find out how many years they have been in the real estate business, their record on selling the property, the number of deals they cracked, what their credentials and qualifications are if they have experience, etc. Ask all brokers you are communicating with for details on previous clients and speak to the clients so that they can also give their reviews on that particular broker.
  5. Find an agent who will spend enough time with you until you find a property that suits your desires. A broker should understand the nuances and will advise you accordingly.
  6. Buyers need to find a broker who has good intentions and should be thinking about your benefit. 

Now you know how to choose a good broker, and this is the end of the best tips to hire a broker in India.

How to search brokers in India:

  1. You can also search online on platforms like propertywala.com.
  2. Try to talk to at least two to four brokers before finalizing, and try to discuss all talked-about matters with expectations.
  3. Try to connect on call, see his office, and have a meeting with him for your trust.

Stamp duty and registration charges in India?

Suppose a buyer and seller get into a sale and purchase of the property. For the sale deed, they must register it in India and pay stamp duty and registration charges.

What is Stamp Duty Refund Process when the Sales Deed is canceled? - Kotak  Bank

Who collects Stamp duty and registration charges in India?  

  1. As per the Indian Stamp Act 1899 the state government collects Stamp Duty and not the central government. It is different in different states. The state government uses it for building the state’s infrastructure.
  2. Stamp Duty varies with the type of housing and the state in which it is located, and it also varies with the gender of the buyer, and senior citizens get a rebate on registration charges.

Benefits of Stamp duty

  1. Registering a stamp duty makes the sale deed a proper legal document and makes it possible to submit the deed to the court as evidence. In case the document is lost, a duplicate copy can be produced. The buyer has to pay stamp duty at the time of registration.
  2. The buyer generally pays Stamp Duty

Stamp duty in Real Estate?  

Stamp duty in Real estate is on Sale deed, Partition Deed, and Lease Deed. If a lease deed is more than 12 months, it must be registered and pay stamp duty, otherwise, generally, lease deeds are for 11 months. Therefore, which means the document of the property is verified by a notary declaring the authenticity of both parties signing the documents.

Delhi Stamp duty

  1. Delhi Stamp Duty charge has been going on since the year 1908, which is a retardation charge.
  2. Like in Delhi, stamp duty is 6% if a property is registered in a Male’s name, 4% if in a female’s name, and 5% if in joint name. This is in case the property value is less than 10 lakh rupees. But if it is more than 10 lakhs rupees, both males and females pay equal stamp duty.
  3. The Registration charge is 1% of the property value.
OwnerStamp Duty
Male6%
Female4%
Joint (Male& Female)5%

How to pay Stamp duty?

The 3 methods to pay a stamp duty are as follows:

Method 1

Non-Judicial stamp paper. If stamp duty is 1 lakh, buy papers worth Rs 1 lakh. You will print the sale deed on stamp paper.

Method 2

Franking method – Print the sale deed on plain paper. Pay stamp duty in a cheque, cash, online, or dd draft. Then bank attests to the sale deed.

Method 3 –

E-Stamping – it will mention all details – generated online – Go to Stock holding corporation of India – www.shcilestamp.com. This will be paid at authorized centers. Collect e-stamp then.

Carpet, built-up, and Super built-up areas

When you go to buy a property, you may hear the term carpet area, built-up area, super built-up areas, and so on. This can be confusing for many buyers. Propertywala has put together this handy guide with definitions of these terms.

Towers At Greenville Apartments - Tower Block, HD Png Download -  1169x775(#5840675) - PngFind

CARPET AREA

A carpet area in simple words is the area where we can lay our carpet. It is an area in between external walls; it includes rooms, a kitchen, a toilet, a bathroom, and a staircase within the unit. The carpet area excludes balconies, service shafts and common areas. There have been some changes in the carpet area after RERA (REAL ESTATE REGULATIONS AND DEVELOPMENT ACT) came into effect in 2016. The internal walls of a building were not included under the carpet area in earlier versions of RERA, but they are now.

Next, it is important for buyers to determine the carpet area in an approved layout before making a purchase. This can help you understand how much carpeting will be included in your new home. So, before buying a property, ask your builder about the approved layout. And next is to compare two properties based on carpet area only for a clear understanding of the rate.

FORMULA TO CALCULATE THE CARPET AREA

The total area of the inner wall and floor is the carpet area.

BUILD-UP AREA

The built-up area refers to the entire area covered by carpet plus inside weight-bearing walls and outside walls if any. The term included areas that refer to external walls, attached balconies, verandahs, a service shaft area, and a servant room. Excluded areas are terraces, and common areas like lifts and stairs, etc. The walls of adjoining apartments will be factored into the building of your apartment at 50% of its build-up area. Built up area generally is approx. 10% higher than the carpet area.

FORMULA TO CALCULATE THE BUILD-UP AREA

The built-up area of a building is the total floor space, including carpeting, walls and balconies.

SUPER BUILD-UP AREA

When you purchase a property, you will hear about the term “super built-up area”. It means the build-up area of a flat and pro rata common area. For example, the total common space is 8000 sq feet among 8 flats in a complex, so the pro rata common area of a single apartment will be 1000 sq feet. Therefore, the common area includes built-up space like a lobby, lift shafts, staircases, pipe ducts, air ducts, and other covered common facilities. And the area which is not included in the common area is the roof terrace and open areas like parks and play areas as well as driveways. The approximately super built-up area is 25% higher as compared to the carpet area. Generally, it varies from 20% to 40% of the carpet area.

FORMULA TO CALCULATE THE SUPER BUILD-UP AREA

To convert the super built-up area into carpet area, calculate the loading factor, and subtract that from the Super built-up area.

LOADING FACTOR

The difference between the super built-up area and the carpeted area is referred to as the loading factor.

Therefore; Carpet area * (1- loading factor) = Super Built-up area

CALCULATION EXAMPLE OF SUPER BUILD-UP AREA

Let’s assume, the super built-up area of an apartment is 1,200 sq. ft. and the carpet area is 1,000 sq. ft.

1,000 X (1-loading factor) = 1,200

1- loading factor = 1,200/1,000

1- loading factor = 1.2

Loading factor = 1.2 – 1

So, the answer is 0.2 or 20%. As a standard, It is always in percentage.

IMPORTANT FACT TO KNOW BEFORE PURCHASING A PROPERTY

For your information, section 61 of the Real Estate Regulatory Authority Act (RERA) stipulates that promoters can be fined up to 5% of the total cost of the real estate project for giving false information or selling on the super area. It should be sold in the carpet area.

Other Charges When Buying a House

When you start your property search, you will be amazed by the extra charges involved in buying a house or investing in property. There are two options: buying a ready-to-move-in property or an under-construction property. However, most people prefer to buy a ready-to-move-in property because it is less risky than an under-construction one. So, let’s assume that a property is coated at Rs. 3000 per square feet—this is its basic rate—but there are also other charges on top of that which people often fail to consider and which can be more than 40% to 50%. Let’s discuss all the additional charges so that you can make an informed decision about the total price of any given property before agreeing to purchase it.

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Let’s look at an example:

Suppose a property’s basic price rate is Rs. 45 lakhs. When we make the final payment for this property, it will be around Rs. 58 – 67.5 lakhs—which includes the basic price of the property and the extra other charges when you buying a house. We will discuss all these charges in detail below:

First comes the basic charge. It is the charge excluding all the extra charges. Before RERA Act came into force, properties used to be sold on the super built-up areas; after the enactment of the RERA Act, properties are supposed to be sold based on the carpet area. For example, if the property has a carpet area of 1500 square feet and the rate per square feet is Rs. 3000, then its total basic cost would be Rs. 45 lakh. And this is just the basic cost; you will also have to pay multiple charges on it, as mentioned below.

PLC (PREFERENTIAL LOCATION CHARGES) –

Property taxes are charged according to the property’s location. Like; a corner flat, park-facing, sea-facing, lower floors, or higher floors. For example, sea-facing view residences have higher PLC charges than non-sea-facing. Therefore, if you own any such property there is a PLC charge coated. Generally, PLC charges are Rs 150-200 per square feet.


PARKING CHARGES –

When you purchase a property, you will pay a parking fee of 5-7% of the base price of the flat. For example, if you purchase a property for Rs. 45 lakhs, you will be charged Rs. 2 to 2.5 lakhs for the parking facility.

INFRASTRUCTURE DEVELOPMENT CHARGES (IDC) –

An infrastructure charge usually consists of complete internal infrastructure within a complex. For example, water and electricity supply, as well as sewage treatment plants may be charged separately. Developers usually charge these services together because it costs less to do so. However, if we add them together in one place according to IDC’s input-demand curve, there will be an IDC charge added at around 6% of the base price of the flat or house.

EXTERNAL DEVELOPMENT CHARGES (EDC) –

In some cities, there is also an external development charge. For example, in Gurgaon and Faridabad. This charge goes to the government and includes the infrastructure of a complex—for instance; road facilities, sewage, water, and electricity. The EDC charges are applied to all these expenses so it is approx. 5% of the base price of a flat. The total cost of IDC and EDC ranges from Rs. 300 to 400 per square foot.

CORPUS FUND/ IFMS –

Builders collect corpus funds, also called IFMS. It is interest-free maintenance security, similar to an emergency fund, and not like regular monthly maintenance. To purchase a property costing Rs. 45 lakhs, builders can collect from Rs. 50,000 to Rs. 1,00,000.

POWER BACK-UP –

The power backup charge is provided on an kWh-basis for each flat in the complex. Backup is available from 3KVA to 5KVA, ranging from 1 lakh to 1.5 lakhs.

AMENITIES AND CLUB CHARGE –

These charges apply to luxury flats with a clubhouse, swimming pool, and gym. The developer will charge you for these amenities at a lump sum of Rs. 50,000 to Rs. 1.5 lakhs.

STAMP DUTY AND REGISTRATION CHARGES –

In this case, stamp duty varies from state to state. So you must pay the stamp duty according to the state. Therefore, stamp duty and registration charges are 5-10% of the property value.

GST –

In an under-constructed property, both stamp duty and GST are levied where GST is 18% on ⅔ of the property cost. Therefore, the effective GST rate is 12%. It is the payable tax and added as a extra other charges before buying a house.


BROKERAGE –

Most resale property or ready-to-move-in property transactions are closed through a real estate agent or broker, who typically charges 1% to 2% of the property’s final value as a fee.

Process of Property Registration

We’ll discuss some of the main points on the entire process of registration of a property in India. Although this process is quite complex, it may require a lot of time and effort by the registry office to complete. So let’s start the process of registering a property in India with propertywala.

Karnataka Property Registration - Procedure and Charges - IndiaFilings

STEPS OF PROPERTY REGISTRATION IN INDIA:

  1. The first step is to choose the property and look for all the details in the property. Negotiate with the seller. Pay 10% booking amount. Then we have an agreement to sell.
  2. Buyers should check that there are no liens or other encumbrances on the property before they make an offer.
  3. Calculate Stamp Duty. Stamp Duty is the tax levied on the transfer of real property in the state. Stamp duty rates vary from state to state. It’s calculated either on the circle rate or on the market rate, whichever is higher. It’s generally 3-10% of the property value and 1% is the registration charge.
  4. There are three methods for paying stamp duty, as follows:
    1. Method 1 – Non-Judicial stamp paper (picture). If stamp duty is Rs. 1 lakh, buy papers worth Rs 1 lakh, where sale deed will be printed on an official stamp paper.
    2. Method 2 – Franking method – Print the sale deed on plain paper. Pay stamp duty in the cheque, cash, online, or DD draft. Then the bank attests to the sale deed.
    3. Method 3 – E-Stamping (picture) – it will mention all details – generated online – Go to Stock holding corporation of India – www.shcilestamp.com. Payment will be made only at authorized centers. Collect e-stamp then.

HOW TO CALCULATE STAMP DUTY:

Now, buyers should also be aware of the Stamp duty calculation. They should also know that this tax is payable when they register their property.

For example, if the actual value is Rs. 40 lakhs and the circle rate is Rs. 50 lakhs, then you have to pay stamp duty at the highest rate out of the two. Hence, in this example, because the circle rate is greater than the actual rate then you have to pay a stamp duty of Rs. 50 lakhs.

And in another case, let’s assume that you bought a property in India with a market value of Rs 90 lakhs and the circle rate was Rs 80 lakhs. In this case, you would have to pay a stamp duty of Rs 90 lakhs. Therefore, you can calculate your stamp duty. In addition, you can also estimate stamp duty online because it varies differently and is higher in large cities and towns than in small towns or cities.

5. The next thing is a draft and print sale deed or conveyance deed, or gift deed. It mentions all details like name, address, age of both the buyer and seller, etc. It provides details about payment, including through cheque, cash, or any other method. After that, you have to print the sale deed on stamp paper and then sign each page of the sale deed. Two witnesses also have to sign the last page of the sale deed.

6. After drafting and printing the sale deed, you must register it at the sub-registrar office. The office should be located in a fixed zone of your property’s locality. To schedule an appointment online or to obtain a token number, contact the sub-registrar office by phone or in writing. Both buyer and seller should attend the registration; witnesses should be present as well. If either of them cannot attend, they must appoint someone to act on their behalf with power of attorney. All parties should bring documents such as an Aadhaar card and an identity document. Three photographs will be attached to the sale deed, and both buyers and sellers will be asked to sign their names in the presence of a sub-registrar. Fingerprints will also be taken for security purposes.

7. After that, you have to collect the registered sale deed. The deed can be collected within 15-20 days. If you took a bank loan, the bank will collect the original deed.

8. Now that the registration process is over and the property transfer is complete, you need to change the name in the land records. This process is called a mutation. If your property is located in a rural area or outside municipal limits, you will have to change the name in land records. The mutation has different names in different states. For example Jamabandi in Haryana, Punjab, and Rajasthan; Khatauni in Uttar Pradesh; 7/12 in Gujarat and Maharashtra; and Khatian in Orissa, West Bengal, and Bihar. After you register your property, the whole process of registration of your property is completed.

India’s 5 most expensive houses

India’s wealthiest truly have luxurious tastes and live in prestigious residences with unique names, unexpected architecture, elegant interiors, and first-class services. Here, we’re showing billionaire homes. So, if you are eager to know which of these billionaires of India live in the most expensive houses then you are on the right way. Read on propertywala as we take you through the list of India’s 5 most expensive houses.

1. MUKESH AMBANI’S ANTILIA:

Reliance Industries Limited chairman, a business tycoon, Mukesh Ambani is one of the wealthiest men in India. His luxury house comes on the top list of India’s 5 most expensive houses. Therefore, a man who currently holds the title of 11th richest person in the world lives in Antilia, the most expensive private residence in India.

5 facts about Antilia, Mukesh Ambani's $2 billion Mumbai mansion |  Architectural Digest India

Let’s know about Antilia’s house:

  1. It is located at Altamount Road, Mumbai, Maharashtra
  2. The area of Antilia (in sq. ft.) is 4 lakh sq. ft.
  3. Total no. of floors 27.
  4. Mukesh Ambani’s house has approx. 600 staff.
  5. Other vital features: 9 high-speed elevators, a Private movie theater, 3 helipads, a hanging garden, an ice-cream parlor, a salon, and a gym. Apart from this, there is a parking space for 168 cars with 6 floors of car parking.
  6. The price of the house is approximately 15,000 crores.

2. GAUTAM VIJYAPAT SINGHANIA‘S JK HOUSE:

The chairman and Managing Director of the Raymond Group, the world’s largest producer of suiting fabric. He has a mansion that is called JK House, which will be a combination of a private residence and a textile showroom.

Most Luxurious House In India - Check Out The Most Expensive Homes
  1. The location of the house is Altamount Road, Mumbai, Maharashtra, located next to Antilia.
  2. The area of the house ( in sq. ft.) is 16,000 square feet.
  3. The total no. of floors is 30.
  4. There are 6 Parking floors.
  5. Some other features: 2 swimming pools, a spa, a gym, and 1 helipad.
  6. The price of the house is 6000 crores.

3. MR. ANIL DHIRUBHAI AMBANI’S LUXURY HOUSE ‘ABODE’:

A top businessman in India and the Chairman of Reliance ADA Group Mr. Anil Dhirubhai Ambani’s property offers luxurious and 7- star hotel amenities. This luxury villa is known as Abode.

Inside Jai Anshul and Jai Anmol Ambani's 14-storey Mumbai home – yes, they  still live with parents Anil and Tina, but it's no Antilia ... | South  China Morning Post

Let’s have a closer look at this magnificent property:

  1. It is located at Pali Hill, Mumbai
  2. The area of the house ( in sq. ft.) is 16,000 sq. ft.
  3. The total no. of floors is 17.
  4. Other vital features are: a swimming pool, a gym, 1 helipad, parking space, and a lounge area displaying Ambani’s car collections.
  5. The price of the house is 5,000 Crores.

4. MR. KUMAR MANGALAM BIRLA JATIA HOUSE:

Jatia House is also one of the most expensive houses. It is owned by the chairman of Aditya Birla Group, Mr. Kumar Mangalam Birla, a Chartered Accountant.

news mumbai kumar mangalam birla to pay rs crore for bungalow  -m.khaskhabar.com
  1. Jatia House is located at Little Gibbs Rd, Malabar Hill, Mumbai.
  2. The area of the house (in sq. ft.) is 30,000 square feet.
  3. There is a total of 3 floors.
  4. Some other features of Jatia House are: a grand garden, a small pond, a central courtyard, and 20 bedrooms.
  5. The price of the house is 425 crores.

5. SHAHRUKH KHAN’S MANNAT:

The King Khan of Bollywood, Shahrukh Khan is one of the most loved stars in the Hindi film industry. His house, Mannat, is a famous landmark in Mumbai city. His house looks very glamorous and has become a tourist place for his fans.

MP man drunk calls Mumbai police, threatens to allegedly blow up Shah Rukh  Khan's Mannat, gets arrested | People News | Zee News
  1. The address of the house is Mannat, Land’s End, Bandra (West), Mumbai.
  2. The area of Mannat (in sq. ft.) is 27,000+ square feet.
  3. There are 6 floors.
  4. Other vital features in Mannat are multiple bedrooms, living areas, a gym, pool, library, a private movie theater, Shahrukh’s office, an impressive terrace, and a bar. 
  5. The house price is estimated to be around Rs. 200 crores.

Watch the full video on YouTube by clicking on the link https://youtu.be/ZKCE7uUsSxU

A detailed guide on Banglarbhumi | Land Records at banglarbhumi.gov.in

a-detailed-guide-on-banglarbhumi.gov.in

Land records information on the ‘banglarbhumi.gov.in’ portal not only helps users save time and effort, but it also helps the Revenue Department to offer more transparency.

Located in the eastern part of the country West Bengal has become one of the most developed states. Of course, it makes sense to buy property in West Bengal as it can really help you make a smart investment. If you want to buy land, one of the most important things is to check the land records. There have been cases of fraud where people have been caught in making fictitious transactions. Anyone could have avoided such transactions simply by consulting the land records.

If you have chosen a plot for investment, you have to check the land records and registration. However, now you do not have to visit government authorities to check land records. With Banglarbhumi, you can check the land records by a few clicks.

With this website, you can find a lot of other information that will be extremely useful and practical for the people of West Bengal. On Banglarbhumi, you can find detailed information about the registration of a particular property in West Bengal. You can find information like owner’s name, plot number, land area, property value and much more.

What is Banglarbhumi?

In West Bengal, documents related to land and real estate are available online through Banglarbhumi 2022, also known as Banglarbhumi. If you have land in West Bengal and want to see all the details of your land then Banglarbhumi can help you out.

This website has been launched by the West Bengal Land Registration Ministry to help people easily see all the information related to their land. Detailed property information such as owner name. Property area/size, plot number, and value of property is available on the Banglarbhumi website. This portal reduces user effort and also helps the Department of State Revenue provide greater transparency.

The main services provided by the portal are: Conversion application, Plot maps and related information. ROR application, mutation application and related information, ISU administration, Thika ownership, land allocation, etc. In this article, we have discussed all the important points related to this website which can help you understand things better.

Services available at Bangalarbhumi.gov.in

Before proceeding, please review the services available on the Banglarbhumi Land Information and Registry website. Some of the services are.-

Online land records/Bhulekh West Bengal/ West Bengal land record search by name
Digitization of maps and records
ROR application
Training (ARTI and LMTC)
ISU management
Land distribution
Thika tenancy
Rent controller
India and Bangladesh border demarcation
The state administration for land use

What is RoR?

RoR (Record of Rights) are records that contain information about how the owner acquired land rights. It also contains detailed records of all property-related transactions over time.

How you can register on Banglarbhumi website?

If you have previously used the Banglarbhumi website. You will need to log in with your credentials in order to use the citizen services. To use the online citizen services, citizens must have to register on the portal at “https://banglarbhumi.gov.in/BanglarBhumi/Home.action”. Follow the given steps for registration.

Simply visit www.banglarbhumi.gov.in
On the top click on the ‘sign up’ option.
Now create your Bangla bhumi profile and log in to “‘Citizen Services” as a “citizen”.
The public registration Bangla bhumi form appears.
In the form, fill all mandatory fields, such as name, guardian name, address, email address, PIN code, municipality, PS, district. OTP received via email with ID and phone number, password and verification details. Finally click on ‘Submit’ for successful registration.

If you are a department user, then visit “citizen services” and click on “Department User”. Also enter your username, password and fill in the captcha data.

Types of forms available on Banglarbhumi and how to download them?

There are several types of forms available on the website.

Application for Mouza Map
Application for Mouza Map
Mutation_Application_Bengal
Declaration for Mutation
Mutation application form
Application for Dumdum cantonment land
Form 1(D) Application for Post-facto conversion
Lease of Tea garden in Retained land
Affidavit for Conversion
Application for Conversion
Application for Conversion

To download the forms, click on the ‘download’ option and select the desired Banglarbhumi form by clicking on the appropriate PDF file. The forms are available in both English and Bengali language. Or you can simply visit “https://banglarbhumi.gov.in/BanglarBhumi/Forms” and select “Downloads”. A new web page opens with a list of forms, further download the desired form.

How to View Land Records at Banglarbhumi website?

Follow these simple steps to view land records in the state of West Bengal. To access West Bengal khatian & plot information in West Bengal visit Banglarbhumi website. You do not need to register to receive this information. Follow the below steps.

Visit Banglarbhumi’s official website ‘banglarbhumi.gov.in’.
On the top right corner of the homepage, click on the button “Know your property” option.
Select the following- District name, Block, Mouza
There are two search options in land registers: Plot and Khatian
Fill all your details.
Enter the captcha code.
Finally click on the “View” button to view the land records.

Check Land Records if you have a Query Number

Follow these steps to find the details of the plot using the application number.

Visit the Banglarbhumi portal, on the top right corner click the “Query Search” button. A web page is displayed on the screen. Now complete the details like Query number, Question year, and Captcha code. Finally click on the ‘Show’ button. Your information will be displayed on the redirected page.

What is Mutation Application and how to file it?

Mutation is the transfer of property from one person to another through the sale or transfer of property. Mutation can only occur after registration of ownership.

The mutation application form is available on Banglarbhumi online portal. Users must fill in all the required data correctly, otherwise the application request can be rejected. Once the application form has been submitted with the relevant data, an application number will be generated for the user which will allow them to check the status of application.

Process to fill Mutation Application

Visit ‘banglarbhumi.gov.in’, login to your account, click on “Citizen Services” and then go to the “Online Application” tab.
The list is displayed.
Select the ‘Mutation Application’ option.
Fill in the basic details of applicant, Particulars of Transferer, List of Enclosures, upload the necessary documents. Finally click on the “Submit” button, a reference number will be generated.

If the fee is paid via “online mode” the case of mutation number will be registered quickly. If fees are paid using ‘counter payment’ option of GRIPS. Then you can confirm your payment and register your case using the Application- GRN Search from Online Application option.

How you can pay the fees?

After registering, you can pay the fee in the “Online application” menu and click on “Pay fees” option. Then fill the Request type, Application number and click “Next” for payment options.

Check the status of a Mutation application

Follow these simple steps to check the status of your mutation application.

Go to the Banglarbhumi’s official website
On the homepage, click on the “Citizen Services” option. Further click on ‘Mutation Status’.
There are two options for searching for mutation status: “Deed wise search” and “Case wise search”. Choose the desired option.
Further choose the Mouza, District name, and Block.
Finally click on the “Search” button.

How to check Mouza details on Banglarbhumi portal?

A user can easily check the status of Mouza application by given steps-

Simply log in to ‘banglarbhumi.gov.in’ official portal, on the homepage click on “Mouza Information”.
A web page opens, now select the district for Mouza.
The Mouza information will be displayed.

How to easily Fill a Land Conversion Application?

If you want to fill a land conversion application then simply follow these given steps.

On the homepage of Banglarbhumi portal, click on the “Online Application” option.
Select the ‘Conversion Application’ option and fill in all the required details such as district name, block, police station, mouza details. Also fill other details like Jurisdiction List No., Khatian No., Area of the Plot, Plot No., and existing classification of the plot.
After confirming the required details, click on the “Submit” button. An application number is generated once you submit the application.

Documents required for Land Conversion application on Banglarbhumi?

Land Conversion requires several documents, following are some of the documents.

Sketch map of the property and its surroundings (at the entrance from the road)
Receipt of rent.
NOC from the West Bengal Pollution Control Board.
Current record-of-rights.
An affidavit stating creation of alternative/compensatory water resources.
Mutation certificate.
Detailed project report (DPR) reviewed and approved by the competent authority.

File and Submit Public Grievances or Complaints on Banglarbhumi

The Banglarbhumi website also allows the user to submit their comments or complaints online. Follow the steps below to submit your comments online on Banglarbhumi Portal.

Visit the official website of West Bengal Department of Refugee Assistance and Rehabilitation and Land and Land Reform (banglarbhumi.gov.in).
Click the “Public Grievance” option in the upper right corner of the official then select “Grievance Application” from the menu.
Now fill the required fields, fill the captcha and click “Submit”. By this way you can easily file complaints on Banglarbhumi online portal.

How to check status of Grievance Application on Banglarbhumi?

You can check the status of your request after submitting a complaint request on the Banglarbhumi portal,

Go to Banglarbhumi’s official website, then click on the “Public Grievance” option.
From the drop-down menu, select “Grievance Status/Description”.
To see your report status, enter your username and captcha and click “Show” option.

In conclusion, we note that the Banglarbhumi portal (banglarbhumi.gov.in) is an attempt to provide digital services to the citizens. The portal allows the user to get information about Mouza, mutation services, search for properties, and handle complaints.

FAQ-

How do I request certified copies?

On the ‘banglarbhumi.gov.in’, this request will be displayed in the ‘Service Delivery Option’. Select whether you want to receive a certified copy of ROR, land information from WB Land Information. Then it will ask your details and then take you to the payment gateway. Further make the payment and complete the process to get certified copies.

Does the mutation fee vary on land?

The mutation charges or fees varies according to type of land. The mutation fees is different for non-commercial land, non-agricultural land, commercial and industrial land, or agricultural land. It also depends on location, rural area, and municipal areas under Kolkata Metropolitan Development Authority (KMDA) jurisdiction.

How online land records have boosted real estate in West Bengal?

The advantage of online land record is that you can check the land records and find out all the details about the land. You can also check if the land has any outstanding obligations that may bother you after the investment. In general, Banglarbhumi has only advantages and contributes to greater transparency in land investment. It has also boosted the real estate market in West Bengal as many people have trust on land records due to the availability of land records over the government portal.

What are some other services offered in Banglarbhumi?

The ‘banglarbhumi.gov.in’ portal offers several services in addition to the ability to view property information. By using the website, you can take advantage of various citizen services, but to do so, you must first create an account. By creating an account, you will be able to use all citizen services like Digitisation of maps and records, ROR application, ISU management, Land distribution, Thika tenancy, etc. You can also file a complaint by public complaints or public grievance option. It is undoubtedly the best government portal in India integrating government services with land registration information for West Bengal citizens.

How do i search mutation status by deed wise?

You should enter the correct document number and document year, if you prefer to check the status of your mutation case using the deed wise search option. Finally, click the “Submit” button to view Plot Khaitan land ownership status using the capture option anytime, anywhere.

Banglarbhumi: Thika tenancy on website

The West Bengal Land Ownership (Acquisition and Regulation) Act, 2001 allows owners to acquire shares in land constituting such property for the development and fair use of such land. The Kolkata authorities cover 100 wards of Kolkata Municipal Corporation.

Also read:-

MahaRERA website set to display complaints on promoters and projects

Noida authority plan policy to ensure periodical structural audits of buildings


8 Factors to consider before you buy commercial property in Noida!

8-factors-to-consider-before-you-buy-commercial-property-in-noida

Planning to buy commercial property in Noida? In this article, we have summarized some important factors that can not be ignored when investing in commercial real estate.
Commercial real estate provides an attractive return on investment by creating multiple sources of income within the same category. In a thriving city like Noida, investing in the commercial segment contributes to a strong diversification of the investor portfolio. However, there are many things you need to know before investing in commercial real estate.

Factors before you buy commercial property in Noida!

1- Budget PLANNING

Every real estate investment comes with a big capital and therefore requires careful planning. Do not start researching your property until you have the right budget that determines what type of property you can buy. Once you are sure of the locality, allocate your budget to the purchase. Put a buffer with at least a 30% on what you are planning, as there are always extra costs. This will help narrow down the commercial business opportunities available to you. In case you can not get the full investment amount, there are usually options for a small payment along with a mortgage for the remaining amount.

2- Property Location-

The most important aspect to consider is where your commercial property is located and how economically profitable the locality is. The location of your business is the most important aspect for its overall success. Both capital gains and rents are determined by the location of the property. The property should be situated in a safe, green and ideal area for your customers.

Investing in a developing area will be a plus point and give a higher return on investment than in an already developed area. While other factors may be compromised, the location factor should be a must in your decision making process. In addition, the area must be well connected so that travel is not a problem for your customers or employees.

3- Check the legalities-

If you are a newbie then it’s better to consult a property lawyer. A good lawyer will ease the litigation process and ensure that your commercial property is free of any legal issues. This is something you don’t want to deal with later. The tenant or buyer can renegotiate or evict you or even sue you if there is a dispute regarding your property. So, before you buy commercial property in Noida make sure that there are no legal consequences for your property.

4- Structure of lease-

Analysis of the rental structure can provide great benefits in the long run. There are also closing periods where tenants cannot leave the premises. Try to formulate a lease structure that works for you. The longer the lock-in period, the more stable your rental income source will be.

5- Additional Charges-

Generally these are the charges that are spent on the operation and maintenance of the property. Additional charges can drain your profits if you do not take them into account and allocate money in advance. These charges are often not mentioned directly, many people make the mistake of not including them in their budget plans and end up suffering. There are various types of hidden fees such as GST, parking fee, renovations, broker fee, preferred location fee, stamp duty and registration fee. These costs usually recommended to discussed in detail when concluding the contract.

6- Security deposit-

Security deposits for commercial leases are very loosely regulated. This way, owners can charge what they deem appropriate and use the deposit they deem appropriate (even charge interest on the payment). Requiring a deposit also a method used by landlords to cover the risk of a tenant not paying rent on time. If the tenant fails to pay rent, the landlord can deduct funds from the deposit to maintain income, at least for a short time.

In most cases, the deposit after you move out of the property is used to pay for any damages that may have occurred before a new tenant moves into the property. If the landlord uses the deposit to pay compensation after the end of the lease, they will give you a receipt.

7- Find ideal Tenants-

Once you have bought commercial property in Noida, now it’s time to get an ideal tenant. Find your ideal tenant by determining the location and budget of the property. Whoever you choose as your tenant can play a big role in increasing or decreasing the value of your property. Ideally, multinational companies can be good tenants because their presence in your property adds value. A good tenant not only pays rent on time, but also makes large deposits and is more likely to stay longer. A good tenant should have a healthy track record of on time payments, a positive credit report, and a stable source of income. They should have good references from past landlords, and there shouldn’t be any history of eviction or dangerous behavior. 

8- Diversify your portfolio-

Commercial real estate is not free from risk and loss. However, investing in multiple properties in different localities can reduce income volatility, which means less risk. By diversifying your investment across different localities, you can take advantage of ups and downs in different markets and protect your money from a major correction in a particular market. If all your properties were in the same market and that market suffers a slowdown, your portfolio would suffer losses. Therefore, if you have enough funds, then try to diversify your investments.

Conclusion-

Remember that there is no universal rule for investing in commercial real estate. You need to do proper market research before making a final decision. So in order to buy commercial property in Noida, you need to consider all the above factors.

Other links:-

Noida authority plan policy to ensure periodical structural audits of buildings

Best places to live in noida

7 Important Tips to consider before buying a flat in Pune

7-important-tips-to-consider-before-buying-a-flat-in-pune

Ready to buy a home? Here are 5 factors to consider before buying a flat in Pune.

Investing in a new apartment is one of the most important decisions you’ll ever make. Before buying a property, it is important to analyze it from different points of view. After all, no one invests in real estate every other day. Some of the most important factors to consider when buying a new apartment or house are location, price, and ownership.

A wise and thoughtful decision will make your life easier, calmer and happier. This post is applicable to any metropolitan cities in India, such as Hyderabad, Chennai, Mumbai, Bangalore or Kochi. Here is a comprehensive checklist that you can go through before investing your hard earned money in an apartment, store or office.

Factors to consider before buying a flat in Pune

Location:-

The location of the house is of great importance. To find a good location, it is best to assess your family’s needs for at least the next 20 years. Check out for good schools and colleges and hospitals in the area and connectivity to them. Also, do not neglect the need for a shopping mall or supermarket. One does not always want shopping trips to feel like long journeys. In addition, the presence of excellent medical facilities and public services such as parks, metro stations, etc. increases the value of the property. Pune has several areas with excellent transport links where you can find everything you need.

Also read:- Best area to live in Pune

Property Price:-

The first step in selecting an apartment is to finalize the budget. It is easier to choose an apartment if you know how much you are willing to spend on it. Compare the price of the property in question with prices from different developers to make sure that the developer actually offered you the best price. There are many ways to compare properties in your area of ​​interest. Such sources are lists of portals, local brokers or lists of newspapers.

Access and connectivity:-

Take a test drive from the project to your office or workplace and measure the time required. If by train, check how long it takes to get to the station and whether there is transport to and from the station. Before buying a flat in Pune check for upcoming infrastructure projects will improve the connectivity to the project.

Possession date:-

Think about when you would like to take possession of an apartment. An under construction property can be cheaper than a property that is ready to move in. It also allow you to pay only a temporary EMI while the project is under construction instead of a full EMI.

Security:-

The safety of neighbors and relatives is an aspect that should not be overlooked when planning a move. If you are planning to buy a home in a metropolitan area, simply check the security systems such as the number of security guards on duty, the presence of an intercom, registration of visitors and their vehicles, etc. Consider these points carefully before investing in real estate.

Legal Check of Property:-

Make sure the property is approved for construction where it is located. The client must have approvals and NOCs from the district development authorities, the water and sewer department, the electricity supply department and the Municipal Corporation. However, if you are taking out a mortgage loan, the relevant bank will check your property documents before approving the loan.

Hidden and Additional Charges:-

Be sure to read carefully all the points in the documents and understand the provisions of the sanctions. The developer is obliged to pay you a monthly fine if you do not take over the apartment within the deferral period. Additional costs such as stamp duty, GST, mortgage processing fees, registration fees and all other fees must also be taken into account.

Conclusion-

When you feel you are ready to become a homeowner, it is important to point out the most important things to consider when buying a flat in Pune. There are several factors to consider, such as your preparation, local market conditions and making sure you know these factors before buying an apartment.

Also read:-

MahaRERA issues warrants for Rs 633 crore against errant builders

Budget 2022: FM allocates Rs 48,000 cr to boost affordable housing!

6 Common home renovation mistakes that decreases your property value

6-common-home-renovation-mistakes-that-decreases-your-property-value

Planning to renovate your home? Here are some common home renovation mistakes that can lower your property value.
Home renovation is a serious and expensive investment that should not be taken lightly. Many homeowners, when trying to renovate their home, tend to add too many personal items to the space. However, what you love so much about your home will not necessarily attract a potential buyer. In fact, it may even become their main source of disgust. Home renovation is supposed to increase the existing value of the home, but sometimes it can affect the resale price. Therefore, greater attention to market preferences when renovating a home becomes necessary to get a profitable business when selling.

Some common home renovation mistakes are-

Over Customizing:-

When renovating a home, many may overdo it with customization. People spend way too much on renovations to make sure everything looks according to their needs. Not all customization is good and comes with a number of drawbacks that can turn off potential buyers. Whether it is paint color, flooring, lighting, carpets, etc. Sometimes over-customization can affect or reduce the value of your home.

Overdoing textures:-

In the case of painting a normal wall several processes like sanding, base coating, gap filling, etc. are involved. Hence, to save extra money from sanding and sealing rough walls, many people cover them with textured items such as wallpaper and textured paint. Removing texture or wallpaper can be a daunting task, and most home buyers will refrain from buying a home with an upcoming project or low price. Therefore, overdoing texture can deter buyers.

Changing rooms layout:-

Sometimes to increase area many people combine two bedrooms in order to make a master bedroom. Increasing space is not a bad thing if you are not planning to sell your house. However this decision can backfire if you are planning to sell your house in upcoming days. Most home buyers want separate bedrooms for their children or parents. If you combine two small bedrooms into one, then it can be difficult for you to find a buyer and even get a fairly low price from them.

Installing additional electronics items:-

Having an embedded electronic system is rapidly gaining popularity among the buyers. From home theater systems, Alexa, and built-in music speakers, many people are now installing high-tech built-in electronics in their homes. However, the potential buyer may not be a big fan of such electronics items, and all your renovations can be considered a waste of space. Try not to take up a lot of space in your home, but instead make sure your target customer can enjoy it. This is one of the major home renovation mistakes that most people ignores.

Doing things on your own:-

Instead of consulting a professional help, many people tend to repair or renovate their homes by themselves. DIY renovations can include changing curtains, changing direction of shelves, rearranging beds, sofas, etc. However things can go bad in case of major renovations like electrical fitting, painting, plumbing, false ceiling installations, etc. DIY major renovations can result in decidedly poor craftsmanship, resulting in lower value for the home. A little personalization work is good, but the construction and repair of a house should be left to professionals. Buyers can quickly point out poor craftsmanship, and you may have to pay extra to have it repaired or see the overall value of the home fall.

Too bright or bold Paint Colors:-

Too many bright or bold paint colors can turn off any buyers thus, resulting in no sale. It is a simple but important decision to repaint a room before putting your home up for sale. While painting, select neutral colors to give buyers a blank canvas which can assist them in visualizing the home in their own style.

Conclusion-

There are many more home renovation mistakes, such as developing a swimming pool, renovating only the kitchen or bedroom, and installing a fancy bathroom that can reduce the cost of your house. You need to calculate and avoid over-customization when you need to renovate your home. If you are planning to sell your property in the near or distant future, be sure to avoid these mistakes when renovating your home.

Also read:-

Budget 2022: FM allocates Rs 48,000 cr to boost affordable housing!

Types of real estate investment in India

5 Different types of real estate investment in India | Investing in property

5-different-types-of-real-estate-investment-in-india-investing-in-property

Planning to invest in real estate in India? Before you get started, you first know the types of real estate investments available in the Indian market. Real estate investment is considered as one of the most profitable businesses. Sometimes a property may bring instant cash in rare cases, such as a sudden increase in value due to market reasons or due to the unique location of the property. While in some cases an investor has to wait a long time for the land or property to increase in value. The demand for real estate has increased markedly compared to the supply in the current market. Thus, making this the perfect time to start your investment.

Some types of real estate investment in India are-

Raw land-

Raw land usually refers to undeveloped land or agricultural land. Many investors saw this as a good investment because it is tangible and has limited resources. In addition, buying land will save you from the hassle of repairs and the worry of theft or damage to property. Compared to buying a house or warehouse, land can be a much cheaper investment. The main disadvantage of this, however, is that it can not generate revenue alone.

Residential real estate-

Residential properties refer to any property used for residential purposes. These include independent homes, apartments, and duplexes. Residential real estate is ideal if you want to build your dream home or start a family. Real estate in the form of apartments is still in high demand due to its convenient location and access to nearby important locations such as shopping malls, hospitals and shops. In terms of profitability the residential real estate is a good investment option.

Commercial real estate-

Commercial property refers to any real estate whose primary motive is to provide business operations and services. Generally these properties include residential complexes, office towers, petrol pumps, hotels, hospitals, parking lots, etc. In this types of real estate investment in India, the investors are usually entrepreneurs or business owners who want to build their brand in a specific location or want a workspace for their employees. In this type, most of the profits are generated from rental income of the property.

Industrial real estate-

Industrial properties are defined as all areas, buildings and other objects on which industrial activity is carried out. These include warehousing, production, assembly, manufacturing, research and distribution of goods or products. The zoning laws usually specify in which areas of the city these facilities can be designated. So that they do not interfere with residential areas and other nearby areas while in operation.

REITs-

The Real Estate Investment Trust (REIT) manages or owns commercial real estate that generates income. REITs are one of the most effective assets in the real estate market, which can fetch you a higher return on investment. You can select different types of REITs to get the most out of your portfolio. Such as office, retail, healthcare, and housing. One can invest in these companies through an exchange traded fund or an investment association. The special thing about this type of investment in real estate and land is that they benefit from the state’s exclusive tax treatment, and the income that the investor receives is higher and easily converted into cash compared to other forms of investments.

Conclusion-

Real estate is without a doubt an attractive investment. However these different types of real estate investment in India come with their own risks and rewards that an investor should carefully consider before investing. There are several real estate options on the market, residential real estate is still one of the most popular options. One should not take an impulsive decision because the amount involved in real estate investing is huge. Many realize the economic benefits and reap the rewards in the long run.

Also read:-

Maharashtra removes tax on residential properties up to 500 sqft

Karnataka Govt. cut property guidance value by 10% for three months

8 Effective Tips to buy your dream home with a single income!

tips-to-buy-your-dream-home-with-a-single-income

Buying a home with a single income can be challenging and daunting task for some home buyers. Even if you buy your first home, it is a good option to own a home with a single salary with a little financial overview. Since you need to spend a significant amount of money to invest in real estate, there are many factors you need to consider to ensure a good return.

Different home buyers have different intentions of investing in real estate. For some people, it may be a dream home that they would like to buy. While for others it may be a profitable investment for the future. Therefore, it is more important to understand your needs when investing in real estate. Here are some important points that can help you buy a house with only one income.

5 Tips to buy your dream home with a single income source!

Budget-

The first tip is to evaluate and complete the process of estimated budget. Properly examine the market value of property you are planning to buy. For example, if you are looking for a 2-bedroom apartment, research the prices for such projects from different builders. Also look for estimates of additional costs such as interior and maintenance costs. This will give you a rough estimate of the required budget.

Down payment and Credit Profile-

In India, the government allows a maximum loan of 80%, which means you have to put a 20% down payment for your home. You should start saving as soon as possible if you are planning to buy your dream home. Another tip to buy your dream home with a single income is to maintain a decent credit history. Here are some tips to help you maintain a good credit history:

Make sure to pay off all previous loans before applying for a home loan.
Try to avoid any expensive purchases before applying for a loan. A purchase before applying for a loan should not exceed Rs. 64,000.
Maintain a good credit score by paying your credit bills on time and also try to make your debt to income ratio.

Location-

Location is an important factor in determining the value of your investment. In real estate, investing in a perfect location is the most important step. This could be your hometown or the place where you work. Generally remote locations will be cheaper than locations in a thriving city. Therefore, depending on the purpose of your investment, choose the place that suits you. If you prefer living in a quiet and green area, away from the noise of the city, consider buying a house or land in the suburbs. However if you like living a modern lifestyle close to your workplace, then invest in an affordable apartment.

Co-borrower or guarantor-

Having a co-borrower or loan guarantor can sometimes help you overcome the loan process hurdle in case you do not have a very long credit history. When assessing the application, the lender will take into account the co-borrower’s credit history, assets, and income. Your co-borrower not only helps you apply for a loan, but also helps you get the best loan terms. Thus, helps you buying your dream home with only one income source. Be aware that your co-borrower become responsible for the payments and hold a joint title of the property with you if you do not pay off the loan amount.

Adequate Market Analysis-

Knowing the latest market trends, interest rates, prices, and policy changes will enable you to understand the market situation and accordingly plan your investment. You should conduct a proper analysis of the market trends to protect yourself from any real estate fraud. Compare and find out pros and cons of different types of real estate. You should not blindly trust any agent or broker you know. Always seek a second opinion from a certified real estate consultant before committing to a financial transaction.

Government Policies-

Keep an eye out for changes in government tax policies, home loan policies, interest rate fluctuations and other government exemptions. Checking the policy changes is crucial when buying home with a single income to avoid major problems. Check the applicable property rules set by the government so that you are well informed about the necessary legal procedures. In India, for example, real estate must now be registered under the RERA Act, which protects the rights of the buyer and provides greater transparency in real estate transactions.

Choose best EMI plan for you-

EMI tenure is probably the most important factor to consider when applying for a home loan. Check how much you can afford to pay each month on a mortgage. For your family to function smoothly, the EMI of home loan should not exceed 40% of your net income. Consider increasing your EMI for a shorter loan period if you have additional sources of income in addition to your monthly salary. According to real estate experts the best term for a home loan is around 15-20 years.

Property type-

It is important to decide the type of property in which you are investing.The price of properties varies and depends on size, location, age and type of property. In addition, prices will vary depending on the number of rooms, facilities and the quality of the materials used. Investing in a ready to-move-in apartment or an existing apartment is a great way to generate monthly income. Since you can rent them out easily after buying the property. On the other hand, under construction projects will cost much less than the cost of completed projects in the city.

Conclusion-

So, these are some important points that you should remember before buying your dream home with a single income. The Indian real estate market is saturated with several types of real estate, ranging from apartments, plots, villas and commercial premises. According to real estate experts, preliminary market research can help you focus on the ideal property.

Also read:-

Best place to live in Navi Mumbai

Is it worth investing in Yamuna Expressway

Difference between REITs and Direct Real Estate Investments?

difference-between-reits-and-direct-real-estate-investments

What are REITs?

REITs buy and develop real estate primarily for the purpose of using it in their investment portfolio. REITs or Real Estate Investment Trusts are companies that own and operate properties for the purpose of generating income. Unlike other real estate companies, REIT does not build real estate for resale. These are the companies that manage portfolios of high end properties and mortgages. People can participate in large real estate revenues through REITs.

What is Direct Real Estate Investment?

Direct investment in real estate means buying a particular property at a stake or the acquisition of property from a particular person. This implies a significant share in an asset, whether it is a shopping mall, an office building or an apartment. This type of business allows investors to generate income by rental investment. It even allows you to monetize the valuation of the assets you own. As the price increases over time, you get a significant return on assets.

Key difference between REITs and Direct Real Estate Investment!

Direct Real Estate Investment offers more tax incentives than REITs and also investors have more decision-making power.

In case of REITs, investors invest their money in a diversified portfolio of commercial real estate assets. But in case of direct real estate investment for commercial offices, investors invest in a single office property only.

Individual investors can take advantage of real estate through a REIT without the need to own or manage real estate.

Compared to Direct Real Estate Investment, REITs are easier to buy and sell because many of them are publicly traded on exchanges.

Difference between REITs and Direct real estate in terms of returns!

There is a major difference between the returns of both investments:

In the case of REITs the ROI will be clearly structured, realistic and risk-free. They are ideal for investors who want a stable income with minimal risk.

During the time of inflation, property values tend to rise as property prices and rents rise, resulting in higher returns for REIT investors. Realistic ROI from REITs can be expected in the range of 7-8% per annum after adjusting fund management fees.

REITs must distribute at least 90% of the taxable profits to shareholders, and dividends of 5% or more are common.

How do REIT investors generate income?

Like any other business REIT requires capital. The investors of REITs make money by renting, leasing or selling the assets they buy. Shareholders elect a board of directors, which is responsible for selecting investments and recruiting a team to oversee them on a daily basis. FFO, which stands for funds from transactions, is the most common way of calculating REIT income.

REITs Investors generate following types of income:

– Dividend income
– Price gains after the sale of REIT units
– REITs are a great opportunity for investors who want to diversify their portfolios outside the gold and securities markets. This is a great place to invest if you are investing in real estate for the first time and want to diversify your portfolio without unnecessary risk.

Conclusion:-

A REIT is a good option for investors who do not want to manage real estate, or for those who do not have or can not get the funds for it. REITs are also a great way for aspiring real estate investors. Individual investors can invest in income from owning commercial real estate with a REIT without buying it themselves. Direct real estate investment is good if you want more control over your money and prefer a convenient approach.

Also read:-

Builders have to disclose the status of mortgage loans for apartments

10 Best areas to invest in Hyderabad | Area to buy open plot in Hyderabad

best-areas-to-invest-in-hyderabad-area-to-buy-open-plot-in-hyderabad

Planning an investment? Looking for the best areas to invest in Hyderabad? Several realty analysts consider Hyderabad as the best city for plot or land investment. Its residential real estate sector is widely regarded as a low risk and high return sector due to its rapid development in education, healthcare, job opportunities, information technology, hospitality and other industries. For the past few years Hyderabad has gained popularity due to the availability of residential plots and affordable prices.

Hyderabad has a variety of residential apartments and commercial complexes but still many investors or buyers prefer to buy land from an investment perspective. Since investing in land is considered one of the profitable option in the long run. Good location, affordable price, high return in less time makes Hyderabad most preferred investment option. Over the last many years, some areas of Hyderabad have benefited from rising property prices.

Different regions offer different homes at very competitive prices. The South Hyderabad region is considered to be the most affordable option for investing in residential properties due to its land availability. Also it is less populated as it is located at greater distance from IT companies. North and Central Hyderabad are more dense and slightly more expensive due to high commercial activity.

10 Best places for plot investment in Hyderabad | Best areas to invest in Hyderabad

Buying land for investment in Hyderabad is considered as an important financial and emotional step. If you want to invest in a plot of land, you should consider the following areas.

1 Narsingi-

Narsingi is rapidly expanding with residential complexes and commercial properties. Located on the western outskirts of Hyderabad, it is situated about 5-7 kilometres south of the financial district. Narsingi is an independent area with social infrastructure such as roads, schools, hospitals, commercial, and retail premises. Rajiv Gandhi International Airport (only 26 km) can be reached by road in approximately 40 minutes.

Good connectivity and convenient location is a privilege for a potential investor. Narsingi, located in the immediate vicinity of the financial district and Gachibowli. The area has good IT infrastructure with exit routes from the ORR, this facilitates road connectivity to the airport. The outer ring road (ORR) connects the city with other parts of the city. The average cost of plots in Narsingi varies from Rs 1,500 per sq ft to Rs 12,200 per sq ft.

Check Out:- plot for sale in Narsingi

2 Chandanagar-

Chandanagar is in rapid development as a residential center and it pays off for the investment. The area has proximity to both New Mumbai Expressway and Old Mumbai Expressway. The area is on the NH Hyderabad-Mumbai road, and Lingampally MMTS station is quite close. Bus connectivity is also fast and connects the area with other localities of Hyderabad. The proximity to IT centers in HITECH City and Gachibowli makes it one of the best areas to invest in Hyderabad. The demand for this area driven not only by its indigenous people but also by people from other cities, government and software officials. The average cost of capital in Chandanagar varies from Rs 1,100 per square foot to Rs 11,900 per square foot.

Check out:- plot for sale in Chandanagar

3 Manikonda-

Manikonda proximity to existing IT centers facilitates rapid development of infrastructure. The area is located between the old Mumbai highway and the outer ring road. The old highway separates it from Madhapur and further from Gachibowli. Manikonda is well connected by public transport like regular bus services, especially along the main roads. 

Given Manikonda’s privileged location close to the main commercial areas and good transport links. Currently the property price in Manikonda is on the lower side, making it a really attractive offer for those looking for plot investment in Hyderabad. The constantly growing IT presence at Manikonda acts as a demand multiplier, which leads to significant price increases. The average cost of residential plots at Manikonda varies from Rs 1,700 per sq ft to Rs 12,100 per sq ft.

Check out:- plot for sale in Manikonda

4 Kompally

If you are planning to buy property in an area with perfect access to IT centers like HITEC City and Gachibowli, Kompally should definitely be your first choice. The area is close to popular localities in Hyderabad such as Kukatpally, HITEC City, Gachibowli, and other localities through Outer Ring Road (ORR). 

Located on NH 7 and very close to ORR, the suburb of Kompally connected to all parts of the city. Kompally’s ability to connect to ORR improves the connectivity to Gachibowli and Rajiv Gandhi International Airport in Shamshabad. The accessibility of the area makes it an attractive option for both real estate investors and home buyers. The average cost of plots in Kompally varies from Rs 2,200 per sq ft to Rs 10,500 per sq ft.

Check out:- plot for sale in Kompally

5 Shadnagar

Although Shadnagar is about 49 km from Hyderabad, it offers connectivity to other Hyderabad localities via the Outer Ring Road (ORR). In addition to ORR, Shadnagar Railway Station and Rajiv Gandhi International Airport can be reached directly from Bangalore-Hyderabad Highway. Easy connectivity and growing infrastructure has triggered an increase in demand in the city, leading to an exponential increase in property values. The proximity to industrial centers like Kotur, Kondurg, and Balanagar makes Shadnagar one of the best areas to invest in Hyderabad. So, investing here can give you an attractive return on investment. The average cost of plots in Shadnagar varies from Rs 1,300 per sq ft to Rs 12,500 per sq ft.

Check out:- plot for sale in Shadnagar

6 Adibatla

Adibatla has witnessed many developments by technology companies that attract working professionals from all cities. The area has wide roads, close proximity to Rajiv Gandhi International Airport, just 12.1 km away and central railway station is just 20 km away. Wide roads, TSRTC bus service, and proximity to the airport makes Adibatla real estate beneficial for residents, as they can easily reach their destination.

Residential plots in Adibatla have 24/7 Manjeera water facilities. Therefore it has always been considered a reliable investing option in Hyderabad as it gives a good return on investment. Adibatla may be the best places for plot investment in Hyderabad, but one has to wait for sometime. The average cost of plots in Adibatla varies from Rs 1,400 per sq ft to Rs 14,500 per sq ft.

Check out:- plot for sale in Adibatla

7 Ghatkesar-

Ghatkesar is located about 60 km east of Hyderabad, along the Hyderabad-Warangal highway. Several large MNCs such as TATA, Reliance are planning large investments in and around this area. Thus, land prices have skyrocketed in Ghatkesar ultimately attracting many investors. The residential plot in Ghatkesar is also close to the Warangal-Hyderabad National Highway, which has everything you need for your daily needs. Also, the locality began to attract residential areas located in a quiet and ecologically clean environment. As the area is still expanding, open plots are a good option. The average cost of plots in Ghatkesar varies from Rs 1,350 per sq ft to Rs 9,720 per sq ft.

Check out:- plot for sale in Ghatkesar

8 Shankarpally-

Shankarpally has robust infrastructure and well connected to other parts of Hyderabad and also not far from the IT corridor. Greenery, business institutions and reduced traffic have all helped attract investors to buy open land in this suburb of Hyderabad. Very close to Cyberabad, this place is very popular with IT professionals. The proposed 4-lane highway, combined with a 100-feet road, will bring Cyberabad closer to Shankarpally. Hence, making it an ideal and one of the best areas to invest in Hyderabad. The average cost of plots in Shankarpally varies from Rs 1,150 per sq ft to Rs 16,000 per sq ft.

Check out:- plot for sale in Shankarpally

9- Shadnagar-

Shadnagar is becoming a center for large commercial and residential property segments. It is also connected to the Hyderabad-Bangalore 200 wide and 6-lane bypass. Shadnagar is located in a beautiful area close to the regional ring road which is only 5-10 minutes away. Thanks to the convenient transport links to the main road, Shadnagar residents can easily reach the bus and train stations in just 5-10 minutes. With the recent rise in IT sectors, Hyderabad has grown into a major international hub with one municipality, Shadnagar, located in the RangaReddy area, where a major revolution took place. The average cost of plots in Shadnagar varies from Rs 795 per sq ft to Rs 11,690 per sq ft.

Check out:- plot for sale in Shadnagar

10 SRISAILAM HIGHWAY-

Srisailam Highway has experienced high demand for plots and prices have risen over the years. Many reputable builders show interest in the construction of new facilities. Major industrial and electronics projects planned around Srisailam Highway. Multinational companies like TCS, TATA groups, Wipro play a crucial role in the development. Thus making it one of best areas to invest in Hyderabad.

The city offers good connectivity with the major Hyderabad localities via internal and external ring roads. It also has good public transport facilities, regular buses in the region and the airport and railway station are just a few kilometres away. The planned development of Pharma City along the route is the main growth driver. At present, the roads in the region may not be good. However, with the increasing population, the authorities are planning to build more roads. The average cost of plots in Srisailam Highway varies from Rs 750 per sq ft to Rs 9,421 per sq ft.

Check out:- plot for sale in Srisailam Highway

Conclusion- 

So, these are some of the best areas for land/plot investment in Hyderabad. However, before investing in a residential plot, make sure that the company is HMDA approved and also check the RERA registration number. RERA acts as a shield for the property buyer. The government only recommends buying HMDA- and RERA-approved properties. You can visit HMDA and RERA’s websites in order to check whether the plot is approved by the authorities or not.

Also read:-

CREDAI: Property prices may increase by 10-15% in future!

Investing in Gachibowli, Hyderabad

Top 6 reasons to invest in Gachibowli, Hyderabad right now!

top-6-reasons-to-invest-in-gachibowli-hyderabad

Since past few years, there is a sudden surge in the demand of housing units in Gachibowli. One should definitely invest in Gachibowli as it is a growing locality, loved by both end users and investors. Gachibowli, a city in Hyderabad, is one of the fastest growing cities that is ideal for investment and promises attractive returns in the future. It is a recognized ITeS suburb experiencing explosive growth in the form of real estate projects, office rentals and infrastructure projects.

Gachibowli is located in Serilingampally Mandal in the Rangareddy area northwest of Hyderabad. When we look at the real estate market, it is a known fact that Hyderabad has many benefits for property seekers. Since past few years, Gachibowli real estate sector has shown exponential growth thanks to a growing technology sector that has dramatically increased the demand for apartments.

6 Reasons why investing in a flat in Gachibowli Hyderabad is ideal | Reasons to invest in Gachibowli

1- Airport Connectivity-

To make money, various real estate companies in Hyderabad have built residential apartments near Gachibowli. It is only 5 km from the Hitech city and is well connected to Rajiv Gandhi International Airport in Shamshabad via the outer ring road and the Nehru ring road. Alternatively, try world cuisines in the various restaurants in the area and the surrounding area.

2- Gated and premium residential properties-

Several gated community apartments are being sold to serve the IT people of Gachibowli. With luxurious amenities, these flats absorb modern architecture and natural landscapes. Removing visual clutter and providing you a unique serenity that is difficult to find in the city. In addition, there are several premium class apartments for sale in Gachibowli. This locality is ideal for those looking for luxury as well as affordable apartments in Gachibowli.

3- Ideal option for investment-

In addition to the luxury apartments in Gachibowli, several other developers are planning to create more living space. Therefore, those looking for investment opportunities in Gachibowli, Hyderabad should also consider entering Gopanpally and Nallagandla to get the best investment deal.

4- Increased housing demand-

Gachibowli will benefit from the growth taking place in the central regions of Hyderabad. Townships around Hyderabad’s old town have also evolved to boast improved connectivity to the technology hub, attracting potential buyers and investors. While the suburbs around HITECH City, Gachibowli, Banjara Hills and Jubilee Hills were the first to develop. Growing connectivity and infrastructure makes it ideal to invest in Gachibowli. The saturation of open spaces in these areas, combined with declining accessibility, makes the suburbs a viable option.

5- Proximity to reputed companies-

Gachibowli has also witnessed careful green preservation zones and offers excellent social infrastructure and services. The locality also offers access to major tourist attractions, such as Ramoji Rao Film City, Hussain Sagar, Fort Golconda and Shilparamam. The main advantage is that Gachibowli is close to Hitech City and several companies such as TCS, Microsoft, Capgemini, Accenture, Infosys and Wipro as well as UBS, Bank of America and Franklin Templeton Investments.

6- High demand of rental properties-

Real estate in Gachibowli ranges from one bedroom apartments to large mansions. Tenants range from city leaders looking for family homes to young professionals and couples looking for one or two bedroom apartments in Gachibowli. They are in high demand and delivered very quickly, usually within a few days. A 3 BHK flat in Gachibowli Hyderabad also tops many tenants’ wish lists with its spacious and airy exterior atmosphere.

Also read:-

Builders have to disclose the status of mortgage loans for apartments

Builders can not divide and sell plots says Greater Noida Authority!

7 Best place to live in Navi Mumbai | Best place to invest in Navi Mumbai

best-place-to-live-in-navi-mumbai-best-place-to-invest-in-navi-mumbai

Looking for best place to live in Navi Mumbai or best place to invest in property in Navi Mumbai? If so, this might be the best decision you’ll ever make! In this article we have described some best residential areas in Navi Mumbai that are perfect for real estate investment.

In real estate it is extremely important for the investor to choose the right location. The place you choose can increase or reduce your investment. Navi Mumbai is an exception where the management quality is better than the developers. The basic infrastructure is far from perfect, but is reasonably well equipped in terms of roads, infrastructure, water supply, etc.

The location, infrastructure and facilities of Navi Mumbai makes it an ideal investment destination. Navi Mumbai has a range of developers offering properties to suit every budget, along with first-class facilities. Robust infrastructure, wide roads, an abundance of nature are some of the benefits of investing in real estate in Navi Mumbai. The city has a special economic zone with an area of ​​more than 10,000 hectares. Ultimately creating career opportunities and allowing people to start their own business. 

Navi Mumbai’s significant population, booming economy, and growing infrastructure really stand out to prospective investors. The 7 best place to invest in Navi Mumbai that promise the highest potential return on investment are-.

Best place to invest in property in Navi Mumbai or best place to live in Navi Mumbai- 

Ulwe-

Ulwe has recently shown an increase in demand for residential apartments and plots. As India’s fastest growing region, the development of commercial, residential and private infrastructure quickly attracted the interest of retailers and residents. Ulwe offers adequate social and commercial infrastructure, including reputed hospitals, schools, retail space and a sports complex. Property price in Ulwe ranges from Rs 6,200 to 9,000 per. square foot. With the advent of new projects, property prices in Ulwe are now growing due to the developed infrastructure and proximity to Navi Mumbai Airport. 

Connectivity and Infrastructure-

It is a lively place known for its excellent connectivity, close to the upcoming Navi Mumbai Airport. Ulwe is fast becoming a suburban destination near the Sion-Panvel and Mumbai-Pune Highways. It is close to major places like Vashi, Palm Beach Road or Belapur CBD. It also has proximity to the JNPT and excellent connectivity to Mumbai via NH-348A, and Palm Beach Road. The upcoming Navi Mumbai Metro and Mumbai Trans Harbor Link will further improve the connectivity of Ulwe to Navi Mumbai and Mumbai. Thus making it the best place to live in Navi Mumbai or best place to invest in Navi Mumbai.

Check out:- flat for sale in Ulwe

Panvel:- 

panvel-navi-mumbai

Unlike the densely populated areas of Mumbai, Panvel offers large open areas, making it a popular place for home buyers. It is easy to travel here as the area has an extensive network of road and railway. Panvel has several areas like New Panvel, West Panvel, East Panvel, Karanjade, Chipale. It also has some areas along the Mumbai-Pune Expressway. Panvel has proximity to the Belapur and Vashi commercial hub, which has stimulated the demand for housing in the region. As such, Panvel is the ideal place to generate a good amount of profit on property investments. The area has high rental yields and there is a guaranteed appreciation on both residential and commercial properties.

Connectivity and Infrastructure-

Panvel is well-connected with eastern and western highways which provides easy access to other cities. The proximity to the upcoming Navi Mumbai International Airport along with other planned infrastructure projects such as Navi Mumbai Airport Influence Notified Area (NAINA), Trans Harbor Link etc, are some of the key factors affecting the real estate market in Panvel. Connectivity to Mumbai Pune Expressway and the Sion-Panvel exit further improves access to Panvel.

Check out:- flat for sale in Panvel

Airoli

best place to live in navi mumbai

Airoli has a wide range of apartments ranging from affordable to premium segments. Hence, serving home buyers in all budget segments. The locality has a good social infrastructure of schools, hospitals, restaurants, markets and parks. The proximity to major employment centers and developed social infrastructure has increased the demand for housing and rental properties in Airoli. Thus, it is the ideal place to live in Navi Mumbai since it provides good investment opportunity for those who want to invest in Navi Mumbai real estate.

Connectivity and Infrastructure-

Airoli has good connectivity to Thane and Mumbai via Thane-Belapur road and Mumbai Suburban Railway. Mulund Airoli Bridge further improves Airoli connectivity to other suburbs of Mumbai. Airoli houses some major employment centers such as Airoli Knowledge Park, TTC Industrial Area, Mindspace Technology Park, and Reliable Tech Park makes Airoli best place to invest in Navi Mumbai and a profitable deal for home buyers. The railway and road network provides easy access to the main MMR regions of Mumbai, such as Panvel, Thane, Chembur, Vashi, and Mulund etc.

Check out:- flat for sale in Airoli

Nerul- 

Nerul is the main residential and commercial area of ​​Navi Mumbai, consisting apartments of all segments. It has excellent civil and social infrastructure. The area has low, medium and high-rise flats and individual row or townhouses as well. Nerul is popular among the upper middle class and the most common configurations found are 2 and 3 bedroom flats. The locality houses some IT parks, an MIDC industrial area, several international schools and professional universities. Presence of reputed educational institutions like Terna College of Engineering and State Merchant Marine Institute makes it an ideal place. 

Connectivity and Infrastructure-

Nerul offers good connectivity to several areas of Mumbai like Thane, Navi Mumbai, and Jawaharlal Nehru Port Trust (JNPT) via Thane Belapur Road, Sion-Panvel Expressway and Palm Beach Road. The area is located on three highways in the Navi Mumbai area, namely Uran Road, Sion-Panvel Expressway, and Palm Beach Road. Connectivity to major highways makes it the best place to invest in property in Navi Mumbai or best place to live in Navi Mumbai.

Check out:- flat for sale in Nerul

Taloja-

Taloja is fast becoming a major residential area due to its proximity to Kharghar. Other factors driving the increase in property value are the variety of affordable apartments, upcoming metro stations, and upcoming international airport. Experts believe that if upcoming infrastructure development is implemented on time, Taloja is likely to see an exponential increase in property value over the next three years. Thus making it an ideal or best place to invest in property in Navi Mumbai.

Connectivity and Infrastructure-

Taloja is located on National Highway (NH- 4) and has proximity to the Sion-Panvel, Dombivli-Kalyan, and Panvel highway. Thus traveling to Pune, Thane, and Mumbai is much easier. Taloja has an operating railway station on the Central Vasai-Diva-Panvel railway line. The construction of the first phase of the Navi Mumbai metro between Belapur and Pendhar, which also connects Taloja, makes commuting more easier.

Check out:- flat for sale in Taloja

Kamothe-

Kamothe have good infrastructure and connectivity, and these are the main reasons for its growing real estate demand. The area has a total of 48 sectors, which are systematically planned. The nearby towns of Kamote include Belapur, Hargar, Taloja, Kalamboli, Panvel etc. Without a doubt Kamothe is the best place to invest in Navi Mumbai. Also it is ideal location for those who want to buy property in the outskirts of Mumbai.

Connectivity and Infrastructure-

Highways like JNPT Road, Sion-Panvel Highway, and Panvel-Uran Bypass are some of the major highways that pass through Kamothe. There is a large bus service and the Belapur Bus Stop and Panvel Bus Stop are in the immediate vicinity. The international airport is approximately one hour drive from the area and also has proximity to upcoming airport in Navi Mumbai.

Check out:- flat for sale in Kamothe

Dronagiri-

Dronagiri is one of Navi Mumbai nodes, located in the Raigad area and at the southern tip of Navi Mumbai. Real estate in Dronagiri remains reasonably priced compared to other parts of Mumbai. Infrastructure growth and associated housing demand are key factors that have driven Dronagiri’s growth in recent times. The JNPT and Reliance SEZ are key business developments driving Dronagiri property growth.

Connectivity and Infrastructure-

The area offers good connectivity to Panvel and Roha. Also South Mumbai is easily accessible from Mora with a crossroads and only 30 minutes by water from Ballard Pier. The railway route has increased the general access to the JNPT together with the Navi Mumbai SEZ. Demand for real estate in Dronagiri is expected to increase after the completion of Navi Mumbai International Airport, as the area is only 10 kilometres away.

Check out:- flat for sale in Dronagiri

Conclusion-

Buying real estate and then turning it into a profitable investment is a popular practice in Mumbai. If you have been looking for best place to live in Navi Mumbai or planning to invest in real estate for a long time, Navi Mumbai is your ideal destination. This is often an investment opportunity for those working in and around Mumbai. The area has a vibrant real estate market with significant capital gains and rental income.

Also read:-

CIDCO begins geo-tagging of plots / land parcels in Navi Mumbai

Why buying a 2 BHK flat in Sector 150 Noida is good investment?

why-buying-a-flat-in-sector-150-noida-is-good-investment

Are you planning to invest in a 2 BHK flat in sector 150 Noida? Since time immemorial, the value of real estate has been dependent on price increases. And it takes time before its value grows. But with increased investments from multinational companies in India, the value of real estate here is skyrocketing. Noida sector 150 is located at the south end of Noida Expressway. It is located at the convergence of the Yamuna and Hindon rivers and is only 8 km from Pari Chowk, Greater Noida.

Noida 150 sector appears to have increased demand for the residential segment. Many famous builders in Delhi-NCR have started many projects in this sector. Buyers can find 3 BHK and 4 BHK luxury apartments easily and quickly. Many spacious 2 BHK’s have also been implemented in the projects. All of these homes have quality facilities as well as excellent environmentally friendly amenities.

Reasons why 2 BHK flat in sector 150 Noida is a great investment!

Connectivity to major areas-

Robust connectivity is one of the main factor which has contributed to overall growth of this locality. Sector 150 is close to three major expressways i.e, Noida-Greater Noida Expressway, Yamuna Expressway and DND Expressway. Proximity to these expressways facilitates easy commute between regions of Delhi-NCR and Agra. Sector 150 also has proximity to the upcoming Jewar Airport, one can reach the airport in just 30 to 40 minutes. Delhi’s metro network runs through the area within walking distance, making it ideal to reach any part of Delhi-NCR.

Prominent Housing Options- 

Everyone wants to live in a place which has good quality social infrastructure of schools, hospitals, entertainment centers and shops. In the immediate vicinity of sector 150 there are reputed educational institutions like RPS International School, Amity University, Galgotia University etc.

The locality also has proximity to world class sports facilities such as Buddha Circuit (Formula 1 circuit), golf courses and the first cricket stadium in Noida. It is listed as one of the best sectors in Noida on the 24 km section of the Noida-Greater Noida Expressway. Sector 150 provides a high standard of living, and there are several top-class housing projects from leading developers such as Tata Value Homes and Godrej Properties. 

Given the presence of large housing projects and their location, buying a 2 BHK flat in sector 150 Noida is the most preferred and profitable investment for property buyers.

Growing Infrastructure- 

According to the Noida Master Plan 2031, Noida sector-150 will have about 80% of the 600 hectare area as green space, with only 20% ​​allocated to residential or commercial construction. In addition, almost 42 hectares of land have been set aside for parks and recreational services.

Today, the social and physical infrastructure is already established, a number of well-known schools and colleges operate here, and the area is full of real estate activities. Sector 150 is in the immediate vicinity of Knowledge Park II. The locality houses offices of several multinational companies and IT / ITeS companies. Some of them are Aptara International, Cisco Honeywell, IKEA, One E, Samsung Engineering India Ltd, British Council and HDFC.

Budget friendly and low maintenance- 

Another benefit of buying a 2 BHK flat is the maintenance cost. Maintaining a 2 BHK is much easier compared to 3 and 4 BHK apartments. In relation to the 1 BHK apartment, however, the increase in value is not so significant. Therefore, it is always wiser to choose a 2 BHK apartment in sector 150 Noida.

Conclusion- 

With robust infrastructure and connectivity sector 150 Noida is growing really fast. The area  has excellent transport links and is close to major expressways such as Yamuna Expressway, Faridabad-Noida-Ghaziabad expressway, and Noida-Greater Noida Expressway.

Due to its advantageous location, it has attracted the attention of several investors and buyers. Many well-known multinational companies, corporate homes and manufacturing departments and IT services are popping up in this place. The locality has various reputed educational institutions, banks, hospitals, ATMs and more. Hence buying a 2 BHK flat in sector 150 Noida is definitely a good choice for home buyers and investors as well.

Also read:-

Best place to live in Noida

Noida received an investment of about Rs 64,000 crore, highest of all time!

Noida authority reduced transfer charges by 5% for residential plots

Top 5 Reasons to Invest in Kharadi or to Buy Flat in Kharadi!

reasons-to-invest-in-kharadi-or-buy-flat-in-kharadi

Planning to invest in Kharadi, Pune? In this article we have described some reasons why investing in Kharadi is best choice for both home buyers and investors.

Kharadi, located in northeastern Pune, has seen tremendous growth in recent years. It is becoming one of the fastest growing and most sought after places in terms of location. The area is strategically located close to all the institutions and recreational areas necessary for a comfortable life. It has become a sought after destination among property buyers. This area has gained importance due to the major developments in IT, ITES, education, hospitality and retail sectors.

Known as the new IT hub, Kharadi, the once barren place is now home to dozens of commercial projects and luxury homes. The presence of the company giants like Tata Communication, Wipro, Reliance, and Polaris has further contributed to the development and popularity of this area.

Here are a few points that make Kharadi the most popular real estate investment destination. 

Reasons why should you invest in Kharadi or reasons to buy flat in Kharadi, Pune

1- Houses big IT giants-

Growing connectivity and low capital prices have attracted many leading IT companies. After Hinjewadi, Kharadi has the maximum number of IT parks. Special economic zone (SEZ), is home to several IT and ITES giants like Vodafone India Services, Prism Informatics, Tata Communications, etc. The campus covers more than 40 acres and is only 8 km from the international airport. The business world in Kharadi originated and contributed greatly to the development of the IT sectors in Pune.

2- Location Advantages:-

A well-planned road system with excellent transport links adds valuable benefits to Kharadi. The area has proximity to major areas like Railway Station, Airport, Koregaon Park, Kalyani Nagar, Hadapsar, Wagholi, Chandan Nagar and Mundhwa. Kharadi is set to receive a metro station via an extension of line 2 between Vanaz and Ramwadi. Growing connectivity and location can be a major reason due to which buyers invest in Kharadi. The roads are wide and proximity to highways makes it easier to reach other localities in a short time.

3- Public Transport & Social Infrastructure:-

Kharadi has some of the popular hotels like Le Meridien, JW Marriot, The Westin, Taj Blue Diamond, Grand Hyatt, Radisson, etc. Some famous nearby schools are Symbiosis, Victorious Kids Educare, Kendriya Vidyalaya, and Sunrise English High School. The nearest bus stop is Moudha Bus Stand, 12 km from Kharadi. Cabs and other transport facilities are also easily available. Due to its proximity to the airport, travel time is significantly reduced.

4- Increase housing demand:-

Robust connectivity and evolution of IT parks have created a lot of opportunities in Kharadi, thus attracting professional migrants from different parts of the country. As a result the demand for housing has surged at a fast pace. Buyers are preferring apartment projects over independent houses or plots. The rental market here can fetch you a good amount of returns if you invest in Kharadi. A 2 BHK flat in Kharadi can be rented at prices from Rs 10,000 to Rs 18,000 per month. Professionals working in Ranjangaon Industrial Zone also prefer Kharadi due to its connectivity and infrastructure.

5- Price Trend:-

The city experienced both residential and commercial development due to the burgeoning IT sector. Due to this, land prices have risen sharply. According to real estate experts, the price in October-December 2012 was Rs 4,779/sqft, and Rs 5,192/sqft in January-March 2013. The price has risen to Rs 5,583/sqft since April to June 2013.

Many experts believe that Kharadi has the greatest potential in the real estate market in Pune. The amazing development of the city attracted buyers to invest in Kharadi and has completely changed the real estate market trend. Now Kharadi is considered as the most popular area in Pune where you can live a quality life.

Also read:-

Important tips before you consider a Duplex house for sale in Bangalore!

6 Major Reasons that cause property price appreciation!

6 Major Reasons that cause property price appreciation!

6-major-reasons-that-cause-property-price-appreciation

Real estate will continue to be the preferred investment class worldwide. Smart real estate investing can change our lives by giving us enough money to make our dreams come true. Today, most of us have an investment portfolio that consists of a variety of investments, be it stocks, bonds, gold, etc. However, most of the people have still undervalued or ignored real estate investment. With the huge economic boom in most cities in India, the average income has increased, giving us additional capital to invest in the future, and real estate may be the ideal investment opportunity for you.

The price of real estate depends on various factors such as location, demand and supply, interest rates, future development plans, etc. Some investors buy properties for the purpose of selling them later, when supply is low to take advantage of price increase.

What is the appreciation rate?

In real estate, appreciation refers to the value of your property, or how much the value increases over time. You get several benefits when real estate grows and increases in value. First, you can get more by selling your property. As long as the demand is high in your market, you can get a higher selling price and therefore earn more profit.

5 Reasons for property price appreciation!

Demand & Supply:-

When the demand for housing in a given area increases. Property prices rise unless the number of housing projects built to meet the demand does not recover quickly enough. Home buyers who buy houses for their own use are willing to pay extra if the locality is attractive and desirable for living. The ideal moment for home buyers to buy a property in areas with great upward potential, is a period when investor activity has not yet begun.

Features of property:

The property’s facilities and improvements also affect its value. For example, remodeling a home, installation of wooden cabinet can increase its value. Decorating a basement, adding another bathroom, or replacing carpet with tiles are other examples of improvements that add value. In addition, the availability of parking spaces has a major impact on the value of the property. Parking spaces can create a price difference of 10% to 15%, especially in metropolitan areas where parking in residential areas can be a problem.

Owners who continue to improve their property may receive a higher rate than current market prices. This can be a basement garage, a kitchen lawn, or a small garden terrace. In addition to this, the property’s architectural design, maintenance and interior also play a crucial role in property price appreciation.

Location:-

The location of the property is a major influencing factor. As the area around your property grows, new businesses emerge and new jobs open up, local housing prices tend to rise. If society struggles, or companies shut down then lower values ​​are usually achieved.

Local development:- 

For property price appreciation, it is important that the social infrastructure and the local area support growth. Property in a gated community with an active Residents Welfare Association (RWA) will be preferred over independent property located in a common area. Likewise, green cover, security surveillance, and facilities in the immediate vicinity can also add value to the property. 

Infrastructure Development:-

Infrastructure development plays a pivoted role in property price appreciation. Any type of development like trans-infra projects will boost the value. They are expected to drive population growth and ultimately increase demand. Investors who identify the right time to enter the market can get the most out of their real estate investment.

Impact of Government Policies:-

One of the important policies that have a direct impact on the growth in property values ​​is interest rates on loans. The lower rate of interest attracts more buyers to the market, creating greater demand and great property price appreciation. Similarly, lowering stamp duties, GST rates, circle rates, income tax exemptions, etc. directly affects demand. In addition, the introduction of the Real Estate (Regulation and Development) Act 2016 (RERA) has created great trust among home buyers. This may not directly affect property prices, but streamlines the process of buying homes. Also home buyers can challenge offenses conducted by a builder. Such as property rights, delays or changes to the master plan without your consent, etc. This transparency helps with integrated development of the real estate industry.

Tips to improve property price appreciation!

In general, the national average property price appreciation rate for real estate is between 3% and 5%. However, this can vary greatly and really depends on the unique factors of your long-term ownership. Fortunately, if your real estate investment does not appreciate as you would like to see, there are several ways to increase the value of your property.

  • Improve efficiency of property: If you can reduce the amount of energy needed to run a property, you should gradually increase its value. This could mean replacing appliances with EnergyStar, installing solar panels,planting trees around the house.
  • Increasing property square footage: Increasing living space to a property increases its value. You can build an ADU or guest house at the back of the house, or add a basement.
  • Make smart improvements:  Improving your property can add value, but be sure to make the right choices. Not all upgrades increase the value, some can degrade the existing value as well. 

Also read:-

Property E-registration begins from October 2, Maharashtra revenue minister

Karnataka government’s to cut guidance value, can boost property market!

Tips before you consider a Duplex house for sale in Bangalore!

Important tips before you consider a Duplex house for sale in Bangalore!

important-tips-before-you-consider-a-duplex-house-for-sale-in-bangalore

The demand for duplex house for sale in Bangalore has increased at a fast pace. The outbreak of the pandemic has made the average Indian citizen realize the value of owning a home, especially in major cities like Bangalore. People are increasingly choosing larger homes, like a duplex or 3 BHK apartment, to accommodate a specialized workspace within the living space. As work from home is becoming the new norm, people want a home that has dedicated space that can be used as a workspace without any hassle. As a result more and more home buyers, especially working professionals, intend to shift their decision to Duplex home.

Apart from apartments, Bangalore is also experiencing an increased interest of buyers in independent houses for investment purposes. As people turn towards more open spaces, especially due to the inability to go out at will, the demand for independent houses has also increased in the city. With the change in priorities, the trend towards duplex houses is likely to continue for a long time and for a significant portion of sales in Bangalore. Duplexes can be attractive because they cost more than a single-family home.

So, if you are looking for a duplex house for sale in Bangalore, read this article. We have discussed some tips, pros, and cons of buying a duplex home/apartment in Bangalore. 

What is a Duplex House? 

The duplex is a structure consisting of two separate family units. The two units share a common central wall but have separate entrance doors. Typically, a duplex home in Bangalore has a kitchen, a dining room, and two apartment blocks located side by side or on two floors with separate entrances. Although there are two floors, they are sold together and owned by the same person. A duplex house for sale in Bangalore usually has a kitchen, living room, and bedrooms on the lower floor, and a master bedroom on the upper floor.

The owner of a duplex house can rent out both or a single unit as well. It is mainly connected by an internal staircase. They are good investment opportunities and offer several advantages over apartments or villas. They provide a life experience similar to what you find in a home.  

Different type of duplex home in Bangalore-

A duplex house can consist of apartment blocks designed side by side or on two floors. They are usually of 3 types and available in the following categories:

  • Standard duplex:– This is a two-story house, where the first floor is connected to the second floor by a staircase. On the ground floor there is a living room and a kitchen, and on the upper floors there are bedrooms and children rooms.
  • Low rise duplex:- This type has large balconies and a ceiling on the second floor. It is usually built in a smaller area compared to other types of duplex houses.
  • Low or Ground duplex:- These are houses built on the ground floors of the apartments, where the lower floors have a  garden and contain bedrooms. The upper floor consists of a living room and a kitchen. This type of house is ideal for homeowners who prefer gardens. 

Some best localities to buy a duplex home in Bangalore!

Bangalore has always been an attractive destination for both home buyers and developers. With lucrative options and bespoke budgets, the city is also one of the most popular cities for duplex homes. Some of the best localities to buy a duplex house in Bangalore are:

Whitefield
Chandapura
Jp Nagar Phase 8
Sarjapur Road
Indira Nagar
Yelahanka
HSR Layout
Begur
NRI Layout

Tips before you consider a Duplex house for sale in Bangalore- 

Cost of the House- Generally Duplexes cost more than single-family homes. Hence, you not only have to pay a higher percentage for the down payment, but the overall cost itself will be higher. So ensure you have enough capital to pay for this extra cost. So if you are planning to buy or rent a duplex house with many rooms, it will be very expensive.

Size or Layout- The number of bedrooms on each floor completely depends on the size of the house. If you buy a larger duplex, you get more rooms, and if you buy a smaller one, you get relatively fewer rooms. You can plan your duplex layout based on the number of rooms you need. Typically, a small two-story home has a living room, hall, and kitchen on the first floor and a bedroom on the second floor. The best thing is that you can customize the duplex to suit your needs and requirements.

Privacy- When you buy a duplex house and live on the same side (either down or up). Your tenants can come to you at any time with questions or concerns about your rental property. You can hear them through walls and they can potentially hear you. In simple words, a duplex house in Bangalore has less privacy. 

Check Out:- Duplex house in Bangalore

Benefits of buying a Duplex House in Bangalore-

  • Privacy/Confidentiality:- Everyone wants to live in a big house and more space and who doesn’t like a big space. A duplex house promises total comfort for its residents. The house plan has advanced features and large spaces that can include outdoor gardens.
  • Rental income opportunity:- One of the houses in the duplex can be rented out easily. This is especially beneficial if you have purchased a property on credit or loan. Since the rent you receive can be used to pay off the loan. The duplex house has a good resale value and appreciates faster, since the two units are well equipped with separate rooms and entrances.
  • Suitable for two families:- Duplex is a good option if you want to stay with your family, such as your grandparents. You can let your family or friends stay with you in one of the two units. Sometimes duplex house for sale in Bangalore are much more affordable compared to a single-family luxury home having same bedrooms and carpet area.
  • Share facilities easily:- You probably do not have access to facilities that are common in residential complexes, such as a tennis court or swimming pool. However living in a duplex means you only have to share the amenities and common space with some peoples, and not a whole group of people.
  • Office or work space:- With the trend of work from home, more and more home buyers are looking for a house which can provide them an additional space. For those buyers, duplex is a perfect option to consider. In a duplex house you have enough rooms which can used for your work or office space.

Disadvantages of buying a duplex home-

  • Maintenance responsibility:- As the owner of 2 floors the owner has to check the maintenance and repair work. If duplexes are not managed professionally, they may not guarantee you enjoyment and comfort.
  • Problem with tenants:- The relationship between landlord and tenant is delicate. If you share a property with another family, perhaps tenants, this can affect your privacy, which in some cases can cause controversy. This applies to any rental, be it a duplex or an apartment, it can be difficult to have an uninteresting neighbor. Understanding this will help you set expectations and hopefully help you avoid negative situations.
  • Sharing can be an issue:- In case of duplex house for sale in Bangalore, you are likely to share your yard and other amenities with your neighbor. This can be a problem if your neighbor uses too much of these areas or does not respect your space. So, it is best to consider all of these aspects when renting a duplex.

Conclusion-

Duplex houses are more common in areas where there is a significant area of land. Most Indian cities have made room for skyscrapers due to the limited availability of land. Southern cities, especially parts of Bangalore, Hyderabad, and Kerala have duplex houses. These houses are suitable for roommates and families living in the same house who need a home-like environment. Duplex home in Bangalore also sometimes more affordable than single-family homes. So, they can be a smart way to live in a good area for less money.

Also Read:-

Centre to raise Rs 15,000 crore by realty and hotel asset monetization

Reasons to Invest in Hinjewadi

Should you Invest in Yamuna Expressway? | Doubt solved!

Planning to invest in Yamuna Expressway? In this article we have shared some interesting facts which you should know before investing near Expressway.

Yamuna Expressway has evolved as one of the largest real estate hotspots in the last three years. It is proving to be one of the best choices for home buyers and investors. The six-lane 166 km expressway is the longest motorway in India. It has opened up a pristine area for economic development and expansion of the NCR region. For the past 1-2 years, several integrated warehouses, logistics hubs, and integrated townships have been developed here.

The Expressway has shortened travel time between Agra and New Delhi. It has unfold opportunities for industrial and urban development in the region and laid the foundation for convergence between tourism and other related industries. The Expressway stretches 166 km to Agra from Greater Noida through Aligarh and Mathura. Several projects are under development and approval of two metro routes, i.e, Noida City Center to Sector 62 and Noida City Center to Greater Noida, have led to extensive development in this zone.

With growth opportunities in mind, several leading developers are already taking advantage of the investment opportunity along the expressway. However, developments today may seem a bit slow. The new proposal for infrastructure development, including the metro, will give a new boost to the demand for residential properties.

Top 5 reasons to invest in Yamuna Expressway | Investing in Yamuna Expressway

Properties from reputed developers-

There are several housing projects along the Yamuna Expressway, built by leading developers. Gaurs, Ajnara, Skyline, Supertech, ATS, and Lotus are some of them. On average, you will find properties of different configurations in places like sectors 19, 22, 24, 25, 17A, and 22D on the expressway. Prices of affordable housing units at Yamuna Expressway starts from Rs 10 lakhs and Rs 2.25 crore for luxury projects. In the middle class category, there are several projects ranging from Rs 40 to 80 lakhs too.

Perfect Investment option- 

According to a number of real estate experts, the Yamuna Expressway will become a popular place to live in the future. It will flourish once Jewar Airport is completed and metro connectivity is fully developed on this section. Jewar Airport once completed, will further increase the connectivity with Delhi and is perfect reasons to invest in Yamuna Expressway. The new infrastructure will emerge to connect the Jewar airport with Indira Gandhi International Airport. Yamuna Expressway Industrial Development Authority (YEIDA) has also revamped its master plan for 2031 to stimulate further development along the Expressway.

Also Check:- plots in Yamuna Expressway

Upcoming Jewar Airport-

Yamuna Highway is an ideal place for potential real estate investments. It is one of the longest expressways with controlled access in India, directly connecting the metropolitan area of ​​Noida with Agra thus increasing the prospects for neighboring regions. The area is witnessing a significant boom in property values due to the proposed Noida International Jewar airport. Another benefit of investing in Yamuna expressway projects is the highway runs through the main road of Yamuna. Thus it can benefit those traveling from Noida, Gaur Yamuna City, and Greater ​​Noida.

Offers Seamless Connectivity-

The Yamuna Expressway to UP and Haryana areas and is connected to the Agra ring road. This further connects it with other regions of the NCR, such as Gurgaon, Sonipat, Manesar, Rohtak, Ghaziabad, Meerut, and Hapur. It also connects some major cities like Lucknow, Kanpur, and Gwalior shortening distances and travel times. Hence, connectivity is one of the main reasons to invest in Yamuna Expressway.

The Expressway offers a good proximity to basic amenities, such as schools, hotels, hospitals, etc. Future development on Yamuna Expressway includes the construction of an IT park, and a planned railway station. F1-track at Buddha International Circuit is another feature at Yamuna Highway. The UP government has also designated the Expressway as manufacturing hub of electronics. The Noida authorities have also planned a transport hub that will include various modes of transport, including an Inter State Bus Station and a Railway station.

Affordable Housing Hub-

Yamuna Expressway, considered an accessible location, currently filled with projects with a small number of units. However, the market share for 2 BHK units is really high compared to 1 and 3 BHK units. 1 BHK units are much smaller in size and account for about 18% of the market share. The area is dominated by 2 BHK units with 39% availability, followed by 3 BHK units with 33%. About 38% of Yamuna Expressway projects launched in the price range of Rs 3,000 to Rs 3,500 per square foot. About 18% of the projects in the price range of Rs 2,000 to 3,000 per square foot and Rs 3,500 to 4,000 square foot each. So, these are some of the reasons to invest in Yamuna Expressway.

Other Links:-

UP-RERA to give nine month extension for registration of projects

Invest in Sector 93 Noida