Understand the Maharashtra Ownership of Flats Act: Explain Your Rights!

Posted on May 5, 2023 by supriya

The Maharashtra Apartment Ownership Act was published in the Maharashtra Government
Gazette on February 19, 1971. This Act was established for individual ownership, making it a heritable and transferable asset. It is important to note that the Act only applies to property.
According to the Act, the owner must file a declaration, which must be duly executed and
recorded.

The Maharashtra Apartment Ownership Act led to similar legislation in other states. An
example is the Karnataka Apartment Ownership Act of 1972.
According to the Maharashtra Apartment Ownership Act 1970, apartment owners have the legal right to fully own their homes, including their proportionate share of the apartment’s undivided common areas and amenities.

It also makes apartment ownership transferable and heritable, allowing owners to secure
mortgages. Apartment owners and builders benefit from this because they can use the freed-up money to start new projects.

Along with this, the Act facilitates the formation of associations among apartment owners, who take responsibility for ensuring residents’ welfare and advancing their rights. Although there are apartment owner’s associations that are not registered, it is always advisable to protect your association’s legal rights in the event of a later dispute.

The Act gives the owner complete ownership of the apartment and the power to organize a
group of other apartment owners to set the building’s bylaws.
All the apartment owners are legally protected, as disputes that arise due to conflict in the said association of apartment owners shall be governed under the civil jurisdiction of the law.

The key features of the Act

● According to the Maharashtra Apartment Ownership Act, you will be
considered the owner of a particular apartment in the building with a
proportional share in the undivided common areas and facilities. In
other words, in addition to having all the rights of an owner, you become the sole
owner of your apartment or the entire building.

● The apartment will also become heritable and transferable, from which you can
raise capital. You have the right to transfer ownership of your apartment to
anyone you choose, provided that you follow the bylaws.

● Among other Maharashtra laws, the Cooperative Societies and Companies Act
considers a flat part of the building and a unit owned jointly by the company or
society. While a flat is a unit of the building, the Maharashtra Apartment
Ownership Act of 1970 views it as a separate unit of ownership.

You can form an association with apartment owners.

● All apartment owners willing to join the association need to come together in one
place to complete the formalities.
● The association must have at least seven members over the age of 18.
● A Memorandum of Association includes information such as the names and
addresses of the organization and the occupations of all association members.
● Along with the Memorandum of Association, the association’s rules, and
regulations, or bylaws, must be filed.
● One or more buildings must contain at least five apartments to qualify to form an
association.

Understanding the terms used in the act

Common Expenses
These expenses are sums of money rightfully levied against apartment owners for
administration, upkeep, and repair, modifying communal spaces and amenities.
Common areas and facilities
Common areas and facilities include the land on which the multi-story apartment building is
situated, gardens, cellars, parking areas, or other similar structures, as well as all the structural components such as lobbies, corridors, fire escapes, beams, and columns.

Memorandum of Association
The name and purposes of the organization are listed in the Memorandum of Association, along with the location of the organization’s registered office, the names, addresses, and occupations of the members of the governing body, as well as the signatures of those who have subscribed to the document.

Conclusion
The Maharashtra Apartment Ownership Act of 1970 gives apartment owners the right to full
ownership of their units, which includes an equal share of the undivided common space and
amenities. As a result, the apartment owners are charged with ensuring the welfare of the
residents of the building and advancing their rights. The apartments are heritable and
transferable, allowing the owner to obtain a mortgage for the particular apartment.

Why should you invest in Mayur Vihar, Delhi?

Posted on May 5, 2023 by deepshikha

Property in Mayur Vihar Phase 1, Delhi | Real Estate in Mayur Vihar Phase 1, Delhi - Commonfloor.com

Mayur Vihar is one of the posh areas in East Delhi, located on the Delhi-Noida border. The area has always been the homebuyers’ choice due to grand Returns on Investment (ROI), robust connectivity, and mixed residential choice. Propertywala brings the factors why you should invest in Mayur Vihar, Delhi.

Overview of Mayur Vihar, Delhi:

Mayur Vihar is a lavish residential hub, which splits into phases, namely, Phases 1, 2, and 3. The site is close to a sanctuary devoted to peacock conservation in East Delhi. Hence, the name Mayur (peacock) Vihar (dwelling). The development of the area dates back to the late 1970s when the government decided to sell the Delhi Development Authority (DDA) flats to Public Service Units (PSUs) and semi-PSUs such as Bharat Heavy Electricals Limited (BHEL). It was done as an experiment to combine the people of several income groups into one community. Nowadays, different phases in the Mayur Vihar house vary in statistics.

It is also well-connected via public transport and social and civic infrastructure. It has a metro station on the Blue Line of the Delhi Metro. Many government buses also ply. It will be a good decision for residents to invest in minimum price in Mayur Vihar with all the amenities and infrastructure.

The real estate market in Mayur Vihar:

The locality of Mayur Vihar is divided into three phases with different real estate statistics.

Phase 1 ranks at the top: Based on its popularity and is considered the poshest of the three. It is a premium real estate market influenced by 2 BHK residential apartments with average prices. The range of price is between Rs 90 lakh to 1.5 crores. The average price per sq. ft. in the area is over Rs 11,000. A few residential options in Mayur Vihar are builder floors, DDA flats, and cooperative housing societies in Mayur Vihar Phase 1.

Mayur Vihar Phase 2 : It is fairly preferred by investors. It may be helpful for many affordable projects because buyers can get a 2 BHK residential area for as low as Rs 40 lakh up to Rs 1.6 crore.

Mayur Vihar Phase 3: The locality offers enough standalone flats and houses. However, the residential market in phase 3 is slightly less preferred as compared to the other two phases. The locality is majorly famous for its commercial institutions. Get 2 BHKs in this locality between Rs 50 lakh and 1 crore. The per sq. ft. rate of the residential list in Mayur Vihar Phase-3 averages Rs 7,550. Ample flats under the Central and State (DDA) Government’s Housing Schemes are purchasable here.

Inventory share across budget:

Area Name	Rs 0-50 lakh	Rs 50 lakh to 1 crore	Rs 1 – 1.5 crore	Rs 1.5 to 2 crore	More than Rs 2 crore
Mayur Vihar-1	13%	18%	38%	18%	12%
Mayur Vihar-2	2%	42%	33%	13%	10%
Mayur Vihar-3	40%	48%	10%	1%	0%

Work Area of Mayur Vihar:

Connectivity to work areas is one of the remarkable factors driving the resident and buyer demand in Mayur Vihar. Since the locality borders Noida, the industrial area is around 10 km from Mayur Vihar. Further, the appearance of many technology organizations in Noida, like IBM, TCS, and Genpact, also remains a big point for the residents. People working in cities such as Gurgaon. They also have their house here as the area’s active metro services. It connects it to Gurgaon’s employment hubs via the Pink and Blue lines of the Delhi Metro.

Social amenities and Infrastructure:

In addition, Mayur Vihar is maintained by the New Delhi Municipal Corporation (NDMC), which has worked highly on improving its social and physical infrastructure. So, the given table highlights the infrastructure amenities in Mayur Vihar:

Mayur Vihar is maintained by the New Delhi Municipal Corporation (NDMC), which has worked highly on improving its social and physical infrastructure. The given table highlights the infrastructure amenities in Mayur Vihar:

Amenities	Phase 1	Phase 2	Phase 3
Hospitals	Kukreja Hospital, Manglam Hospital, Apex Citi Hospital	Lal Bahadur Shastri Hospital, and Apex Citi Hospital	Metro Multispeciality Hospital, and ESIC Model Hospital
Metro Connectivity	Mayur Vihar Phase 1 metro station connects the Blue and Pink Line	East Vinod Nagar metro station connects to the pink line	Trilokpuri-Sanjay Lake metro station connects to the pink line
Road connectivity	Noida Link Road, Delhi-Meerut Expressway and DND Flyway	NH-24 connects for easy access to Noida and Greater Noida	In close to NH-24
Schools	Ahlcon Public School, ASN International School, and Rishabh Public School	Bal Bhavan Public School, and Mayur Public School	Ryan International School, Somerville School, and Bharti Public School
Places of Interest	Akshardham Temple, Uttara Guruvayurappan Temple	Sanjay Lake, Neelam Mata Mandir	Akshardham Temple, Sanjay Lake
Retail Hubs	Galleria Mall, Star City Mall and the DDA Market	Pacific Mall, East Centre Mall And Cross River Mall	Gharoli Market, Pacific Mall and East Delhi Mall

It is around 20 km from the Indira Gandhi International (IGI) Airport and approximately 11 km from the New Delhi Railway Station. Its prime location is the main reason why Mayur Vihar is a popular realty area in the east of Delhi.

Investment Possibilities:

The property rates in the Mayur Vihar have been stable despite the pandemic. Further, the lifted rental demand keeps it popular among investors. The minimum rent for a 2 BHK semi-furnished residential apartment in several phases of Mayur Vihar is in the following ways:

Phase 1	Phase 2	Phase 3
Rs 24,000 per month	Rs 18,000 per month	Rs 13,000 per month

At last, the strategic development of the area, balanced returns on investment, and impressive realty choices allow various income groups to invest in Mayur Vihar. All of the above factors make it a promising investment option for buyers who are looking to settle between a calm and green environment and a developed infrastructure.

Rajiv Swagruha Flats: The Ultimate Choice for Luxurious Living in Hyderabad

Posted on May 3, 2023 by supriya

Are you getting bored living in the same house and watching the same view every day, or are you planning to buy a new flat in a new locality? If so, then you are at the right place, as Rajiv Swagruha Flats is offering you a great chance to make your dream come true.

Rajiv Swagruha has built 15 clusters of residential towers at Bandlaguda and eight in Khammam, with different sizes of apartments at convenient prices.

The locality and amenities provided by Rajiv Swagruha Flats are reasons to choose these luxurious flats. Today we will explore why Rajiv Swagruha Flats are the ultimate choice for luxurious living in Hyderabad.

Overview of Rajiv Swagruha Flats

Rajiv Swagruha Flats are located in the west zone of Hyderabad and are a luxurious residential complex that offers an upscaling experience in your life. These flats are nearby the city’s hospitals, schools, commercial centers, and recreation areas.

These luxurious flats are available in 1-BHK to 4-BHK, ranging from 523 square feet to 1477 square feet, with security, a clubhouse, a swimming pool, and landscaped gardens.

Registration can be done by paying only Rs. 1,000 as a non-refundable application fee with their application form. Buyers can purchase these apartments through Mee Seva centers, the Swagruha Corporation Limited website, or the mobile application.

While many realtors are excited to buy these flats for resale, they were hesitant to buy them when the state government placed them up for auction in groups a few months ago.

As per the sources, the buyers are making reservations with different names to seize these flats and then put them up for sale. They are also interested in buying these flats at discounted rates.

The availability of ready-to-move-in flats for these projects is another factor. These apartments are well-equipped and fully furnished.

However, these flats are slightly more expensive than the average market price. For fully prepared flats, the price is around Rs. 3,000 per square foot, and for semi-finished flats, they are priced at around Rs. 2,750.

There are apartments available that are within your budget range and affordable for all classes. You can easily check the price and cost per square foot of these flats online.

The state government is trying to generate revenue through the sale of these buildings. This should make it easier for the government to pay its bills. These towers were built with loans from the state government, and maintaining them costs a lot of money. Therefore, it is an ideal option for the government to sell these towers and use the proceeds for other purposes.

Location Advantages of Buying Rajiv Swagruha Flats

In the city of Hyderabad, Rajiv Swagruha Flats provides a living experience. Do you want to know why? because of the unbeatable location benefits!

Central Location

These famous apartments are located in Jubilee Hills, a desirable neighborhood close to important business districts and IT hubs. Therefore, if you are a young professional working in the city, these apartments are perfect.

Connectivity

These luxurious apartments have excellent connectivity and accessible options like buses, trains, and autos. They are close to the Outer Ring Road, one of the city’s main roads, making it simple to travel quickly and efficiently.

Shopping and entertainment hubs

When you need some leisure time after a hectic day, you have lots of options. The Forum of Sujana Mall, Hungama City Entertainment Park, and the International Convention Center are just a few of the top shopping and entertainment destinations in Hyderabad that can be found in Jubilee Hills.

There’s no denying it—these Rajiv Swagruha Flats provide a lavish lifestyle in an unbeatable location with excellent connectivity and plenty of shopping and entertainment options nearby. If you’re looking for luxurious living in Hyderabad, this is worth considering!

Amenities

There are many different kinds of apartments available for purchase in the town. Some flats are fully furnished, and some of them are semi-furnished and ready to move into. These luxurious flats are great for families who want a cozy home.

There are 2-BHK flats for sale in Chandanagar, NH-9. These flats are very spacious and beautiful, with the latest technology.

The prime location and closeness to many important areas It is only a short distance from Chandanagar Railway Station. The township also offers a swimming pool, CCTV surveillance, and round-the-clock security. In the neighborhood, there are also basketball and cricket courts, as well as numerous opportunities for social interaction.

Price

To raise revenue, the Telangana government is selling 2,746 apartments constructed under the Rajiv Swagruha scheme, but the scheme has failed to generate much interest. Out of 2,746 apartments built over nine years, only 500 have been sold.

The Hyderabad Metropolitan Development Authority (HDMA) planned to sell these flats for a fair price. HDMA plans to sell these flats at an average price of Rs. 2,500 per square foot. They are also providing bank loan facilities to prospective buyers.

After the state government decided to list several government land parcels for sale in various locations, this initiative was taken. The government hopes to earn Rs. 13,000 crore by selling these flats.

The government portion also intends to auction off a portion of the unfinished Rajiv Swagruha towers at Gajularamaram and Pocharam. This is due to the towers’ inability to bring in enough money to cover the government’s debts.

As per the Telangana Today report, the HDMA is prepared to start selling these flats online starting next month. First come, first served will be the process, and preference will be given to present government employees.

The government also decided to assign the flats via a draw of lots in addition to the electronic auction. On June 27, 2023, this procedure will start in Bandlaguda and Pocharam.

This is a fantastic opportunity to purchase these affordable, ready-to-move-in flats in a luxurious location. These apartments are in a gated community and come with all the necessities for a comfortable life.

The cost of the apartments is approximately Rs 18 lakh. This also includes a parking space that can be reserved for a small advance fee of Rs. 50,000.

The HDMA also intends to sell unfinished Rajiv Swagruha towers in Pocharam and Gajularamaram through draw lots. To pay for its welfare programs, the government will be able to generate revenue from this.

The HMDA has also arranged for the sale of unfinished Rajiv Swagruha towers in Pocharam and Gajularamaram through a draw of lots. This will help the government generate revenue to fund welfare programs.

Floor Plan

Rajiv Swagruha flats for sale in Hyderabad are great investments that give you access to a lovely home with all the amenities you require. These flats are located in a peaceful society that is close to important hospitals, educational institutes, shopping malls, and recreational areas.

It is important to consider the flat floor plan as a crucial aspect. It helps you decide whether to purchase a one-bedroom apartment, a two-bedroom apartment, or a three-bedroom apartment, depending on how much space you require. It also helps you decide the size of the furniture.

A one-bedroom apartment is best for a single person. It provides you with plenty of space for cooking, sleeping, and living. If you have a family, it is preferable to select a two-bedroom apartment.

You can think about a three-bedroom apartment since it has enough space for a large family. It is also a good choice for people who require additional space for their home office or storage area.

A four-bedroom flat is another option, which is a good choice for families with kids. It has enough space for everyone and is a wonderful place to spend time with your family.

The HDMA is now selling the remaining 2,240 flats in Bandlaguda and Pocharam townships after they were allocated to applicants last month through a lottery process. Those who couldn’t pay the full amount by the due date now have the opportunity to pay a small advance before October 26.

Conclusion

Rajic Swagruha Flats are the best option for a good life. Not only are they luxurious, but they are also located in a comfortable location. These luxurious flats come with top-of-the-line amenities and offer great value for money. Whether you are looking for a primary residence or an investment option,

Rajiv Swagruha Flats are the ideal option if you’re looking for a primary residence or an investment opportunity. Don’t pass up this opportunity to live a contemporary, luxurious lifestyle in the center of pulsating Hyderabad if you’re looking for a luxurious living experience.

Discover Your Dream Home: Houses for Sale in Chennai

Posted on May 2, 2023 by supriya

Chennai is one of the most popular residential markets in India. It is the perfect location for real estate investment because of its growing economy and high-end industries.

Chennai is the hub of national and international business, including IT, automobiles, electronics hardware, banking and finance, medical tourism, textiles, petrochemicals, and other industries with headquarters in the city.

Areas like Vanagaram, Ambattur, Avadi, Anna Nagar, and Porur are becoming popular because of their location and thriving infrastructure.

If you’re thinking of investing in property that offers a reliable return on investment, then investing in Chennai is a great option. For buyers, these homes are a smart choice to live comfortably with all the amenities.

These flats are available for sale at Rs 26.6 lacs in a prestigious area of Veerapuram, Chennai. The building faces north and is close to important sites like Veltech College, Avadi, and Thirumullaivoyal.

Houses for sale in Chennai, India

Choosing the right house for your home is a big decision and can be expensive. There are many factors to take into consideration, including the kind of house, location, and amenities.

The best way to ensure the best option is by doing your research and asking questions. This will help you reduce your options and guarantee that you can afford the home of your dreams.

There are many different kinds of houses for sale in Chennai, including pre-owned, brand-new, and under-construction homes. Apartment towers, single- and multi-story townhouses, as well as standalone villas and bungalows, are among the most common types of homes.

There are more than 500 of these available on Propertywala in a range of prices and areas. From 2-BHK to 5-BHK homes are for sale in the most-liked neighborhoods, including Patelguda, Beeramguda, Tarnaka, Muthanga, Isnapur, and many more.

Houses for Sale in Chennai under 40-60 Lacs

In Chennai, there are many different kinds of houses for sale. Flats from 1-BHK to 3-BHK are available. For your family, buying a home in Chennai can be a great decision. It is a secure investment, and it can reduce your housing expenses.

The type of house for sale you choose depends on your budget. You have the option of purchasing a newly renovated flat, or a newer property with an attractive price tag.

In Chennai, you can also purchase a flat built with premium-quality materials. These flats will come with a wide range of amenities that will make your life easier and more comfortable.

Are you looking for a flat in Chennai that is in this range? You can visit our website to check the number of properties in Chennai in Gudvancheri, Avadi, Thirumullaivoyal, and many more.

Old House for Sale in Chennai

When it comes to houses for sale in Chennai, options are available. If you want to purchase a property, old houses can be an option with a good location.

Old houses in Chennai are very appealing to buyers as they have very affordable prices, and these houses are located in popular areas.

For instance, you can purchase flats in the places of Triplicane, Madambakkam, Vadapalani, Choolaimedu, Ayanavaram, Adambakkam, and Perambur. These areas are close to shopping centers, supermarkets, and grocery stores with a variety of amenities.

Second Houses for Sale in Chennai

In Chennai, there are many second-hand houses available for purchase. These include resale homes under construction and ready-to-move-in properties. These are reasonable choices that let you purchase a home within your budget.

You can find a property that satisfies your needs depending on the neighborhood, builder, and BHK configuration.

These apartments are a great option if you want to live close to your office, school, or other conveniences.

Duplex Houses for Sale in Chennai

A duplex apartment or two-story building is a perfect choice for those who are looking for a home to live in with their family. Depending on the needs of the buyers, different types of houses are constructed with different designs.

This duplex’s upper floor has a single or double bedroom and a child’s room, while the lower floor is home to the kitchen and living room. For many homebuyers who prefer to have a garden attached, this house type is a popular option.

For anyone looking to relocate to Chennai, a duplex home can be a fantastic investment. In the city, several banking institutions provide appealing incentives for first-time homebuyers. These banks frequently lend 80% of the value of the house. It is best to conduct market research before making a choice.

You can search for these flats on our website or contact our team to inquire about your preferred property. Propertywala provides you with information about every property possible in Chennai, from 1-BHK flats to 5-BHKs, in every location possible.

Ultra Best Modern Safety Door Designs for Flats with Price

Posted on May 2, 2023 by supriya

These days we check every aspect of a home before we buy it, including the interior design, security, and amenities, but the aesthetics of the door are also becoming increasingly important.

It all starts with your front door to protect your home from intruders, whether you want to create a theme for your home, impress visitors or friends, or ensure the security of your home.

The truth is that the right door can add an extra layer of security and act as a strong deterrent. However, it can be a little difficult to know where to start when choosing a door for your home.

Finding a state-of-the-art security door for your home at a great price is the subject of today’s post, which aims to save you the hassle of conducting extensive research by giving you the best suggestions for choosing the right door for your home.

Brief About An Ultra Modern Saftey Door Designs For Flats

Modern door designs play a crucial role in the security of your home. They not only beautify the entrance to your home but also play a crucial role in ensuring the safety of you and your loved ones inside.

So let us look at some common modern security doors for homes. Solid wood doors, steel and wood composite doors, fire doors, and aluminum doors are some examples of common door designs. Each has certain advantages and disadvantages, which we will discuss below.

Solid wood doors are a cost-effective choice that offers excellent security. They are simple to personalize and come in a variety of finishes that will fit well with your décor. Composite steel and timber doors are robust and durable and provide excellent protection against intruders while improving sound insulation.

In an emergency, fire doors offer the highest level of fire resistance, while aluminum doors offer exceptional corrosion resistance and the highest energy efficiency.

Compare prices before making a decision, regardless of which option you choose. The good news is that there is a range of prices for modern residential security doors to fit any budget.

Types of Modern Safety Doors

Modern residential security doors are available in a variety of designs and finishes to complement your home. These doors offer the highest quality and maximum security without sacrificing elegance. There are several alternatives, including double doors, sliding doors, and even accordion-style folding doors.

Swinging door: The swinging door consists of two panels hinged in the middle so that they can be opened simultaneously from both sides. These doors are often used in basements with limited installation space, e.g., toilets, laundry rooms, etc.
Double door: This is one of the most popular options as it offers extra security as well as a modern look. Double doors come with different locking methods such as deadbolts and latches and can be made of different materials such as metal, PVC, and wood.
Sliding door: Sliding doors are a popular choice that allows you to maintain an open atmosphere while providing security. Depending on what best suits your needs, you can choose between automatic or manual locking options for these doors, which are made from a variety of materials, including metal and PVC.
Accordion folding doors: This design is ideal for wider openings or areas that require a striking look. Aluminum or PVC are lightweight materials that can be used to create accordion folding doors that open by folding together. They also offer options in terms of insulation or soundproofing.

No matter which modern security door design you choose for your home, you can be sure that it will provide extra security while adding a stylish touch to the exterior of your home!

Modern Door Designs for Your Flat with a Price

A door should not only be secure, but it should also fit your theme and enhance the aesthetics of your home. You can all help a little by following these suggestions.

Wooden doors: Depending on the type you choose, wooden doors have a timeless look and offer effective sound and heat insulation. They do need some maintenance to stay in good condition, but with the right installation, they are usually sturdy enough for domestic use. Depending on the size and quality of the wood, they can cost between Rs. 5,000 and Rs. 20,000.

Glass doors: If you want your front door to stand out, glass doors are a great option. You can choose from a wide range of designs and shades to discover something special and appealing. If you are looking for a high-security door, this may not be the best choice, as glass is not as secure as other doors such as steel or aluminum.

Steel door: Steel doors are strong and durable yet have a sleek, modern look. They can be made to fit any size or shape of opening and are very secure. The downside is that they can be quite expensive compared to other options.

Aluminum door: Aluminum is a strong, lightweight material that will not corrode or rust over time. If you’re looking for a low-maintenance solution, it is a great alternative because it requires very little maintenance. Aluminum may not provide the same level of security, though, given that it is weaker than steel or wood.

Things to Keep in Mind Before Purchasing a Modern Safety Door

There are a few characteristics to consider while looking for a safety door. The following qualities should be present in a high-quality door:

Steel Construction

When it comes to safety doors, steel is the preferred material because it is sturdy, long-lasting, and weatherproof. Strong steel with thick gauge walls should be used to create a high-quality safety door. To prevent rust, it’s also critical to confirm that the steel has been galvanized.

Security and Locking System

The security system in a safety door is also very important, and it should be designed to withstand demanding conditions. Multi-point locking mechanisms are ideal as they provide more than one locking point for added security. Ensure that the locks you choose have tamper-proof features and have been certified by key authorities like UL or CE.

Fire Resistance

If you live in an area where fires are a risk, you’ll want your safety door to have fire-resistance characteristics. Look for doors that can resist temperatures up to 1200 °F (649 °C). Many high-quality manufacturers will include fire resistance ratings on their products, so make sure you check before purchasing.

Accreditation and Warranty

When looking for a trusted product, it’s important to ensure that the manufacturer is accredited and can guarantee their products with warranties. The American National Standards Institute (ANSI), Underwriters Laboratories (UL), or other government agencies or organizations should accredit safety doors if they want them to be considered safe. Additionally, look for manufacturers that offer warranties on their products and services ranging from 1 – 5 years, depending on the product.

Conclusion

It’s important to keep your home safe and secure, and investing in modern safety door designs is one of the best ways to do just that. With so many options available, you can find a design that fits your budget and your apartment’s aesthetic. From traditional wooden doors to transparent metal grilles, there’s something for everyone. Not only will this enhance your flat’s safety, but it will also add a touch of style to your home. So go ahead and start shopping for the perfect modern safety door design for you and your family today!

Interested in Renting a Fully Furnished Flat in Noida?

Posted on May 2, 2023 by supriya

Do you want to rent a completely furnished flat in Noida? You’re in the proper spot. Noida (New Okhla Industrial Development Authority) is a well-known North Indian city in Uttar Pradesh.

Due to the infrastructure improvements made in recent years, Noida, which is located in the Uttar Pradesh district of Gautam Budh Nagar, has been expanding quickly.

It has been expanded to Greater Noida in light of the city’s ongoing growth and expansion. The Uttar Pradesh district of Gautam Buddh includes Greater Noida as well. The Greater Noida Industrial Development Authority (GNDIA) is in charge of all the industries included in the Noida expansion. Its management covers a total of 16 communities.

What is a fully furnished flat in Noida?

A completely furnished apartment includes a variety of amenities, such as common areas for everyday use, regular housekeeping services, etc. all of which are included in the price of renting or purchasing the apartment. After the purchase, these can be fully modified to the buyer’s specifications. As a result, these flats give their tenants a comprehensive experience without the effort or expense of furnishings.

If you begin looking for a fully furnished property for rent in Noida, these characteristics will undoubtedly be available with lots of benefits.

Benefits of Renting a Fully Furnished Flat in Noida

These days, renting a flat is simply easier because of the abundance of online and offline real estate brokers. And you may take advantage of all the advantages of this, from moving in swiftly to cheaper expenses, if you’re searching for a fully furnished flat for rent in Noida.

Cost Reductions: Renting a fully furnished flat can save you money over time since you won’t have to pay for furniture and other necessities out of pocket. It’s an excellent choice for first-time renters or students on a limited budget because of this.
ready to move in Renting a completely furnished flat in Noida has several advantages, including the fact that you can move in right away and don’t have to bother about searching for or purchasing furniture or waiting for it to be delivered and put together.
Adjustable terms of the lease: The majority of completely furnished apartments offer flexible rental agreements, so you don’t have to sign a long-term agreement if you don’t want to. This makes them ideal for both temporary rentals and longer-term leases.

Types of Fully Furnished Flats for Rent

Finding a comfortable home can take a lot of research, so let Propertywala help you out, as we have shortlisted the most convenient one for you all on our website.

Every type of flat is offered, ranging from a 1-BHK flat to a 4-BHK house. Every kind of apartment has its unique features and attractiveness.

Given that Noida is an industrial location, finding a 1-BHK flat is simple. There are commercial centers, hospitals, and educational institutions nearby, so anyone studying or working in this neighborhood may relax. The location of our two-bedroom apartment downtown is ideal. The metro station, bus stations, shopping centers, and other attractions are all conveniently close by. It is perfect for people who travel frequently because it is also near to the airport and important business centers. You may also be guaranteed your safety and comfort thanks to a power backup system that is available around the clock, security guards, and an intercom system. All the contemporary furnishings and appliances you want for a stress-free stay are included in our completely furnished apartment. Three bedrooms have cozy beds in them.

Things to keep in mind while renting a fully furnished flat in Noida

Before choosing one or starting your search for a fully furnished flat for rent in Noida, there are a few considerations you should make.

Size of the Room: Before signing a contract, be sure the room size is appropriate for your needs by doing a comprehensive examination. Make sure that the furniture is part of the bundle and not an extra expense. Don’t forget to account for the possibility that longer rooms will cost more than smaller ones when making your choice.

Maintenance: Before moving in, make sure that all of the furniture and appliances are in good working order and that the landlord has taken care of any necessary repairs. This will guarantee that you receive a high-quality flat that meets your demands and will help ensure your peace of mind while renting the property.

Proximity to Amenities: Make sure the flat is situated close to conveniences like supermarkets, shopping centers, and other recreational facilities. Your stay will be more fun and convenient as a result. It’s also helpful to see whether there are any nearby public transit options, such as trains, buses, or metro stations.

Budget: It’s important to estimate your budget before searching for a fully furnished flat for rent in Noida so you can whittle down your possibilities and locate the ideal place. As a starting point, figure out how much it will cost to move into a new apartment upfront. They can include down payments, fees, and other unforeseen expenses, such as utility bills. It’s crucial to think about your monthly spending plan once you’ve moved into the apartment. In general, rent is the main expense; however, there may be other costs to consider depending on the number of amenities offered by the flat. Don’t forget to budget for additional future maintenance expenditures.

Where to Find Your Perfect Flat in Noida

If you’re seeking an ideal area to rent a completely furnished property in Noida, you’re in luck since Noida has plenty of options. You may discover whatever you’re searching for here, from little studios to opulent penthouses. There are apartments all over the city, ranging from individually refurbished apartments to residential complexes with every possible convenience.

A fully furnished flat is a wonderful choice since it has the following qualities:

Near shopping, entertainment, and medical facilities
The readily available mode of transportation as well as the possibility of using public transit to use world-class facilities for education and entertainment.
Each unit is equipped with cutting-edge security technologies.
Quality appliances, furnishings, and other necessities are easily available.

Conclusion

With all the facilities and features already taken care of, renting a fully furnished flat in Noida might be a great option for individuals seeking a hassle-free relocation. It will pay off in the long term to take the time to hunt for the ideal flat for your needs. You have the option to tailor your flat depending on your requirements and tastes, thanks to the large number of flats available. Don’t wait; take the initiative to locate your ideal flat right now!

Affordable Flat Prices for Burj Khalifa in Indian Rupees

Posted on April 27, 2023 by supriya

.Everyone has heard about the Burj Khalifa’s stunning and captivating architecture. If you’re looking to buy a flat in Burj Khalifa then you’re at the right place.

With a height of 2716.5 feet, or 828 meters in Dubai, the Burj Khalifa is the highest structure in the entire world.

The Burj Khalifa is not only the tallest freestanding skyscraper in the world but also holds records for the most storied buildings, highest inhabited floor, huge outdoor observation deck, lengthy traveling lift, and the tallest service lift.

Most people have heard of it more than the Eiffel Tower. It is a 200-plus-story multi-story building with 163 habitable levels.

In cooperation with Samsung C&T Corporation, Adrian Smith, and the architectural firm Skidmore, Owings & Merrill created the Burj Khalifa.

Celebrities from Bollywood and Hollywood and several well-known figures have flats in Burj khalifa. The majority of the more than 900 apartments owned by the Indian house buyers in the Burj Khalifa, according to reports, are occupied by Indians.

An Overview of the Flats in the Burj Khalifa In Indian Rupees

The Burj Khalifa, the highest structure in the world, has apartments. 900 homes are currently housed in the residential wing of the tower, which is located on levels 19 to 1-108. Apartments with 1, 2, 3, and 4 bedrooms are among the different types of real estate.

The Burj Khalifa’s levels 9 to 16 are home to the Armani Residence, which offers studio and two-bedroom apartments. The 144 suites highlight Armani’s modern yet underappreciated design. A 1-bedroom apartment in Armani Residence rents for about rs. 33,51,159/- while 2-bedroom apartments cost about rs. 67,02,318/-. Each apartment has Armani/Casa furniture. There are still several freehold alternatives available to real estate buyers: prices for 1-bedroom apartments start at rs. 4.5 crores to 11 crores.

Similarly, apartments with 3 rooms of 4 rooms will cost above 216 Crores approximately.

Check out the pricing range in Indian rupees if you’re interested in purchasing a flat in Dubai, particularly in Burj Khalifa.

Types of Flats in The Burj Khalifa

1-BHK Flat in Burj Khalifa

The preferred option for the business class who frequently travels to Dubai for work is a 1-BHK in the Burj Khalifa. One air-conditioned room, a chic bathroom with additional hallway space, and a kitchen with real decor are all included in these apartments. Also, these apartments include Wi-Fi access and opulent extras like a restaurant and an outdoor pool.

It will cost you roughly AED 1,600,000 to own a 1-bedroom property in the Burj Khalifa. Check out the current pricing listed below in INR if you’re an Indian looking to purchase property in Burj Khalifa. Although many Indians invest in Dubai and frequently visit this paradise, choosing a Burj Khalifa 1-BHK flat at the current rate of Rs. 34748957.07/- in rupees will be your finest option if you’re there on business.

2-BHK Flat In Burj Khalifa

The best choice for a nuclear family would be a two-bedroom home. The Burj Khalifa’s apartments typically come fully furnished. It provides you with a lot of luxury all at once. You will have access to a balcony from which you can in a bird’s -eye view of the city, two bedrooms, two bathrooms, and a fully equipped kitchen and dining area. Get a 2-bedroom apartment at this famous tower for about AED 2,500,000.

Hence, a 2-bedroom apartment flat in the Burj Khalifa will cost you up to Rs. 54295245.43/- in Indian currency. If you are Indian and Looking for a little additional space and choose to buy a different type. Experience more luxury space in this spectacular location of the highest skyscraper in the world, which allows you to reveal opulence on a new level.

3-BHK Flat In Burj Khalifa

Burj Khalifa’s 3-bedroom apartments are the most spacious and cost AED 6,000,000. It provides you with the best lifestyle possible amidst a wealth of cutting-edge conveniences. In addition to the standard 3-bed typology, it provides you with fully furnished fitness centers, a business lounge, a meeting room, additional recreation rooms, Wi-Fi services, and much more.

Parking spots, the greatest outdoor facilities, and many more added bonuses are included with a Burj Khalifa apartment. A fantastic balcony view is a delightful treat at the Burj Khalifa apartments, where you can take in some breathtaking views of Dubai.

The Burj Khalifa 3 BHK flat in Indian rupees would thus cost you up to Rs. 130308589.02/- loaded with extra room, whether you are an Indian or not and purchasing a place in this most sought-after address in the globe.

Things To Consider

When Buying an apartment in the Burj Khalifa, everything is ideal and advantageous, from the neighborhood to society to your children’s education, but the Burj Khalifa is one of the most well-known towers in the entire world and the best tourist destination nearby for people who visit Dubai for their vacation. In the busy season, it might be crowded. The Burj Khalifa is the best place to consider having your own home, despite the higher prices of the nearby properties.

Heavy Deposit Flat In Mumbai

Posted on April 27, 2023 by supriya

What is a Heavy deposit?

Heavy deposits, also called zero-rental flats, are becoming popular in the real estate market. The heavy deposit is an agreement between the owner and tenants where the owner provides the expected property to the tenant in exchange for a hefty security deposit for a period of time.

These days, a growing trend in Mumbai that is spreading to Vasi-Virar, Mira Road, and other city areas is heavy deposits or zero rental flats or apartments.

How Heavy Deposit Varies from General Renting?

Those who rent properties typically pay both the flat security deposit and their rent monthly. Residents of the heavy-deposit apartments do not make monthly rents or security deposits. Instead, they pay a large sum to the owner as a security deposit for the property based on the property’s location during the tenancy period.

Furthermore, the owner will return the tenant’s security deposit when the tenancy finishes.

If the rental agreement allows it, the landlord may withhold payment in the event of property damage or unpaid utility bills.

Heavy Deposit System In Mumbai

The zero-rent option is becoming more and more appealing to Mumbai renters, particularly millennials with transferable employment. To be clear, a rental flat plan permits tenants to reside in an apartment during their rental period without having to pay rent.

According to information provided by Mr. Tauqeer Hashmi, the owner of Maharastra Properties In Mumbai, almost a third of people who seek rental homes are prepared to put down a sizable deposit in order to reduce their monthly rent costs. It usually costs 100 times what the rent is per month. for a flat being offered at Rs.10,000 per month, for instance, a sizable deposit of Rs. 10 Lakhs would be required.

Advantages of Heavy Deposit Flat in Mumbai

The zero-rental flat system is beneficial for both the landlords and the tenants. They provide great opportunities for renters to lower their monthly rent costs, particularly in areas with excessively high rents like Mumbai. If the flat is maintained the tenant gets their whole security deposit back.

On the other hand, the Owner gets a huge amount of money at one time which can be invested in other ways. In the normal renting process, paying electricity bills, and water bills can be a bit problematic, especially in the last month of the tenancy. Also, if every tenant vacates the property, the landlord must spend a lot of money on repairs since new renters demand that the property get little maintenance. A deposit of Rs 30,000 or 40,000 won’t be helpful for the maintenance. At these times the owner can use the security deposits given by the tenants.

For quite a good time the trend of heavy deposits or zero-rental is there in Mumbai as it is a win-win system for both the rentals as well the owner. Additionally, the owner already has a hefty amount on his/her hand, they can use it somewhere else, and can invest it in the real estate sector only by investing the amount to buy a new property. In Mumbai, this system is well known and with the passing of time, it is already spreading the other regions of Mumbai, like Mulund, Chandivali, Bandra, Goregaon, Malad, and Andheri East.

Tips to Rent Heavy Deposit Flat In Mumbai

In a city like Mumbai, it’s simple to find heavy-deposit apartments or zero apartments, but choosing one can be challenging. To help you all find your ideal home, here are some tips.

The first step is research, which is simple and clear but important. Researching every neighborhood in the area will help you to understand and identify the best place to live with all the amenities you require.
The next step is to determine which amenities, such as an air conditioner, a fully equipped kitchen, and a house that includes water and electricity as part of the rent, you need in your flat.
Before signing a lease, make sure to inspect the property to determine its quality. Checking to see if the amenities are operating properly will be a smart idea. Before making a choice, look through the security features like locks and cameras.
Make as many contacts with agents as possible, and keep a list of those who can give you a rough notion of how to achieve your goals.
While checking on the heavy deposit flat agents in Mumbai, ask about the past clients of the property you are interested in, and ask about the society and the locality, Depending on the time you can also meet the agent to get a rough idea of the area you are interested in.
Ask the heavy deposit flat agents in Mumbai about the previous tenants of the home you are interested in, as well as about the neighborhood and society. You may also meet the agent to get a general sense of the neighborhood you are interested in.

It can take some time to find the ideal heavy deposit flat in Mumbai, but with little preparation and research, it is possible! You will find your dream home quickly if you use the advice in this article.

Documents Required to Rent A Heavy Deposit Flat

Don’t forget to have this paperwork available for the next step once your extensive study has led you to find your perfect heavy deposit flat in Mumbai.

Tenant Identification: First thing you need is your identification cards which can be any of these Voter ID cards. Aadhar card, PAN card, or your driver’s license.
Rental Agreement: It’s essential to specify in the rental agreement what costs will be paid and by when. To avoid paying taxes or stamp duty, a would normally be for 11 months.
No Objection Certificate (NOC): This is a letter of consent from the landlord confirming that they do not object to you renting their property for a heavy deposit flat in Mumbai. Confirming that both parties concur on every aspect of the rental agreement, serves to safeguard both parties from being taken advantage of.
Security Deposit Receipt: These are essential documents that might assist avoid disagreements later on about security deposits. The Receipts should clearly state how much money is being deposited and when it can, if necessary, be retrieved by either party.

Hence, before signing up for a heavy deposit flat in Mumbai, make sure you have all the necessary documents ready! Afterward, you’ll appreciate yourself.

A Final Piece Of Advice

A final piece of advice. Make sure you familiarize yourself with everything the city has to offer before accepting a heavy deposit flat in Mumbai. Several structures in the city have different features that increase their appeal and worth, such as particular artwork, specialized furniture, or exclusive services.

Conduct thorough research on the area you are moving to, including information on maintenance services and amenities like gardens, swimming pools, gyms, and any specialized security measures.

Top 8 Posh Residential Societies in Noida

Posted on February 9, 2023 by deepshikha

A super-classy and organized city in Uttar Pradesh, Noida is also a part of the Delhi NCR. Also, making it all the more attractive for real estate investors and home buyers. Noida is a rapidly growing city with a population of over 2 million. It has led to the growth of many posh residential societies in Noida. You can find many resources and facilities in Noida for everyone, be it homeowners, students, businesspersons, or even retired professionals. In Noida, 8 posh residential societies are in high demand for homebuyers.

If compared to Delhi and other NCR regions like Gurgaon, the living cost in Noida is much lower, making it a highly popular- city in the NCR region. The real estate business is successful in Noida due to its proximity to Delhi and the arrival of numerous MNCs. The posh areas in Noida feature high-tech infrastructure, metro convenience, top amenities, and outstanding services. So, propertywala brings every detail and infrastructure of the top 8 posh residential societies in Noida with just one click.

List of Social Infrastructure and developments of Noida:

Noida was settled on 17 April 1976 under the UP Industrial Area Development Act, 1976.
In Swachh Survekshan 2021, Noida became the Cleanest Medium City (population of 3-10 Lakh).
After the completion of the under-construction Jewar International Airport will be the largest in Asia.
There are the most important educational academics namely, UPTU (Uttar Pradesh Technical University), Amity University, Galgotias University, etc.
Noida is well connected to the Noida-Greater Noida Expressway, Yamuna Expressway, NH-24, FNG Expressway, KGP Expressway, and the Delhi-Mumbai Industrial Corridor.
There are some popular malls such as DLF Mall of India, Wave City Center, and GIP.

Top 8 Posh Residentials Societies in Noida

Nowadays, Noida has become a top location for people from all parts of the country to come and live in numerous posh societies in Noida. Also, with top-notch amenities, infrastructural abilities, opportunities for jobs, and proximity to the NCR. Hence, no other city can boast as much as Noida can.

1. ATS Knightsbridge (Luxurious and the poshest society in Noida)

ATS Knightsbridge address : Plot No. A 01/A, Sector 124, Noida, Uttar Pradesh 201305

It is the right mixture of luxury and convenience. The complex is for your taking at a rate of Rs. 7.49 – 8.0 Crore. It offers unbound luxury through its 4, 5, and 5 BHK flats with areas ranging from 4005 sq. ft, 4250 sq. ft, and 7000 sq. ft.

AMENITIES AT ATS KNIGHTSBRIDGE:

With all the first-class amenities and services for its occupants, ATS Knightsbridge makes the lives of its residents full of conveniences. So, some of the major amenities that ATS Knightsbridge offers its residents are:

Gyms, rooms for indoor games, and a park area.
Multipurpose courts with multipurpose halls.
There is a waste disposal system and Rainwater harvesting.
24×7 power backup and firefighting equipment.
Vaastu -friendly homes for a peaceful life.
Well-maintained clubhouse and swimming pool.
CCTV camera for surveillance and security purposes.
Reserved parking for residents as well as visitor parking.
Lift and intercom service with maintenance staff.

NEARBY FACILITIES AND CONNECTIVITY OF ATS KNIGHTSBRIDGE:

An essential part that makes ATS Knightsbridge a popular and favorable place to live in Noida is its well-connected location. It has the following advantages and every home-buyer would love such a connected place:

Nearby Metro Stations namely Noida Sector 1, Noida Sector 16, Noida City Center, and Botanical Garden Stop.
Easy access to roads to Greater Noida via Noida-Greater Noida Expressway, Delhi via DND Flyway, and Faridabad via FNG Expressway.
Well-maintained hospitals, Government offices, shopping hubs, and malls.
Colleges, schools, and Gautam Buddha University.

2. SKA Orion

SKA Orion (Standing Tall Among the Best Societies in Noida) Address: GH-01A/2, near Noida Expressway, Sector 143B, Noida, Uttar Pradesh 201301

It is located in Sector 143B. Orion is one of the well-organized projects from the House of SKA. With an extensive area of 3 acres, it brings you everything you need. Renowned for its ultra-modern living conditions, fanning environment, and premium living styles. It is a high-end premium society that is easily classified as one of the best posh societies in Noida. Furthermore, it offers everything that a buyer needs no matter if it is for commercial or residential purposes. It consists of 508 units that range from Rs. 61.1 lac to 1.13 crores.

AMENITIES AT SKA ORION:

This society is full of amenities to ensure that the lifestyle of its residents is comfortable and content. It offers a well-maintained clubhouse, a safe track for jogging and strolling, and outdoor tennis courts for its residents. In addition to this, the apartment complex is packed with the given amenities:

Fully-furnished club and play area for kids.
Facilities for indoor games.
Intercom facility and services.
Health and a fitness club.
Swimming pool.
Multiple elevators and goods lift services.
24×7, professional security service.
Private parking for residents.

NEARBY FACILITIES AND CONNECTIVITY OF SKA ORION:

Besides these facilities and conveniences, SKA Orion brings to its residents. What makes it truly one of the posh societies in Noida extension? It is only its connectivity and nearby local conveniences:

Located nearby to sector 143 Metro Station.
Excellent academic institutes, colleges, and schools such as Amity University and Shiv Nadar Public School.
It connects the two major expressways namely FNG and Noida-Greater Noida Expressway.
The presence of business centers and commercial hubs like Oxygen Business Park and DLF Tech Park.

3. Tata Eureka Park

Tata Eureka Park (A Singular Place to Settle Down in Noida) Address: Tata Value Homes Eureka Park, SC-01 A1, Sector 150, Noida, Uttar Pradesh 201310

This society is developed by Tata Value Homes Ltd. It is one of the top posh societies in Noida extension. One of the main features of this society is that it is in a prime location—Sector 150, which is recommended to be one of the most sought-after and important housing hubs in Noida. It offers 2BHK and 3BHK flats with different areas at costs ranging from 63.9 Lacs to 73.6 Lacs. 2BHK flats are available in the 1,100 sq. ft. super area whereas 3BHKs can be bought in the 1,285 and 1,575 sq. ft. super area.

AMENITIES AT TATA EUREKA PARK:

It brings world-class facilities to its residents. Everyone who loves nature and wants to own a home nearby trees and flowering plants then they will enjoy their time at Tata Eureka Park. In addition to this, the residential society has been developed by merging all types of modern amenities that you would crave for it such as:

A spacious park for the occupants to spend their time and for relaxation.
Multiple lifts for residents to move across the complex.
World-class gym, fitness center, and clubhouse.
24×7 power backup system for unbroken electricity.
A specified space for meditation and yoga for residents.
Well-maintained swimming pool.

NEARBY FACILITIES AND CONNECTIVITY OF TATA EUREKA PARK:

This society is also well-connected to other parts of the city and major expressways. Therefore, the residents of the complex can commute to their destinations effortlessly. In addition to this, the park is provided with the following amenities nearby:

shopping complexes, malls, and theaters.
Government offices and service centers in a range.
Many multi-specialty hospitals and healthcare centers.
Various schools, colleges, and academic institutes.

4. Godrej Woods

Godrej Woods (Live luxurious lifeStyle in this posh society in Noida) Address: Block A, Sector 43, Noida, Uttar Pradesh 201303

Noida Godrej Woods is one of the luxurious apartments in Noida which is located in sector 43. Proudly owned by Godrej Properties, with 250 units up for sale in the complex. You can find the most suitable for you from the ten towers it is divided into. Whether you need a 2, 3, 4, or 5 BHK flat, you have it all here in Godrej Woods.

AMENITIES AT GODREJ WOODS:

As any homeowner would expect, Godrej Woods offers many ultra-modern resources and conveniences to make the lives of its residents a breeze, such as:

24×7 power with advanced power backup.
The spacious track for jogging and strolling.
All-day security surveillance.
Private parking areas for the residents as well as visitors.
Perfect Clubhouse to match your requirements
Gym and health center for their occupants.
A rainwater harvesting system is available.
Your home will be according to the Vastu.

NEARBY FACILITIES AND CONNECTIVITY OF GODREJ WOODS:

It is not just the facilities that make Godrej Woods special for buyers. Indeed, it is because of the locality and civil conveniences that make Godrej Woods a prime location for people to live a luxurious life.

Easy access to Noida-Greater Noida Expressway and Golf Course Metro Station.
Indira Gandhi International Airport at a distance of 28 KM only.
Roads Connected to Dadri Main Road and Amrapali Road.
Presence of great schools and colleges in that area.
Malls, business centers, hospitals, and entertainment areas are available.

5. Ace Starlit

Ace Starlit (In one of the posh localities in Noida) address: SC-01/09, Sector 152, Noida, Uttar Pradesh 201303

This place is where urban life meets and modernizes the calm demeanor of nature to surprise homeowners. A premium residential apartment complex, Ace Starlit is currently under construction and is packed with high amenities, conveniences, and services to make it a unique and best living experience for its occupants. With a total of 490 units in 5 towers, home-buyers and investors can buy from 2BHK or 3BHK flats at Ace Starlit. Some of the unique characteristics that make the complex much-coveted posh societies in Noida are the Ultra-Modern Double-Height Lobbies, Unique Glass Façade Towers, and the sprawling 3-Side Open Homes.

AMENITIES AT ACE STARLIT:

This place is for everyone who loves to live with their loved ones in high-tech facilities and conveniences. This is for all age groups. Once you step into this facility, you have access to the following:

Private parking for residents with also visitor parking.
Multipurpose hall, meditation area as well as fitness center.
24×7 maintenance staff and security.
There is also a well-maintained clubhouse, park, and indoor gaming areas.
Retail shops, libraries, and flower gardens.
Singular swimming pool and kids’ splash pool also.
Ground for half basketball course and cricket net practice.

NEARBY FACILITIES AND CONNECTIVITY OF ACE STARLIT:

In addition to making the apartments an architectural marvel with beautiful interiors, Ace Starlit has the following facilities waiting for you:

It is located on Noida Expressway and near the Aqua Metro Station.
There are several schools, colleges, hospitals, and shopping centers.
Impeccable access to the city center and suburbs such as Greater Noida.
Well Connected to the under-construction of Jewar International Airport.

6. ATS Pristine

Address of ATS Pristine: Pushta Rd, Sector 150, Noida

ATS builders are known for their construction quality. With quality, they also provide a perfect mixture of luxury and convenience. It is a masterpiece complex that offers 3 BHK and 4 BHK luxurious apartments. The range of apartments is between Rs 84 lakh to Rs 4 crore.

AMENITIES AT ATS PRISTINE:

It offers first-class amenities to the occupants of the group housing society. It is spread over 18-acre land with 80% lush green area. Following are the major amenities offered by this complex:

A well-maintained clubhouse for kids as well as elders to spend their time.
A swimming pool
Cafeteria/ food courts are also available in this complex.
24×7 CCTV camera surveillance.
Private parking facility for residents.
Gymnasium, library, and business center.

NEARBY FACILITIES AND CONNECTIVITY OF ATS PRISTINE:

For this complex, there are many reasons to invest in ATS Pristine. It is in Sector 150 Noida, which is an upcoming hub of Noida and following are the reasons:

Greater Noida and JP hospital are only 10 minutes away from this posh society as well as sector 148 metro station is 5 km.
YMCA Gol Chakar, Wipro Chowk and Pari Chowk.
Advant Navis Business Park, Bhutani Alphathum, Bhutani Cyberthum, MetLife office, and Birla Soft are near this posh complex.
Top- Notch schools are available near ATS PRISTINE such as DPS (Delhi Public School), Genesis Global School, Day Care Creche, Shiv Nadar School, and Footprints Play School.

7. ABA Cleo County (An Egyptian Themed Posh Society in Noida)

Address of ABA Cleo County: GH 05, Rani Avantibai Marg, Sector 121, Noida, Uttar Pradesh 201301

It is one of the best societies to live in Noida. Its impressive and pathetic entry will convince you to invest in ABA Cleo County. This society is a secure residential space and has a common configuration of 3BHK and 4BHK.

AMENITIES AT ABA CLEO COUNTY:

Apartments in this society are provided with air conditioners and electrical fittings. Also, complete wooden work is done by the builder. On the other hand, some amenities offered in the society are:

Reserved parking area for residents.
The gym, outdoor tennis court, spacious clubhouse for any event, and cafeteria/ food court are one of the main qualities of this society.
24*7 power backup and fire fighting appliances.
Jogging and strolling track as well as a 5-level cascading swimming pool.

NEARBY FACILITIES AND CONNECTIVITY OF ABA CLEO COUNTY:

Job centers include Nuclear Software, IBM, Airtel, Birla Soft, HCL, Rajni Gandha, HeadStrong, and Amar Ujala.
Fortis Speciality Hospital is near.
Advant Navis Business Park, Bhutani Cyberthum, Birla Soft, Met-Life office, and Bhutani Alphathum are near.

8. Mahagun Moderne

Address of Mahagun Moderne: 004, Mahagun Moderne, Mantova St, Sector 78, Noida, Uttar Pradesh 201307

At Mahagun Moderne society, enjoy a combination of extant living with a high-end luxurious lifestyle, where world-class amenities are available.

This planned society is near Sector 76 metro station, making commuting impeccable for you. It is a residential society with high and low-rise apartments. Talking about the other USPs, each tower has its lounge area, which exactly looks like the reception of a 3-star hotel.

AMENITIES AT MAHAGUN MODERNE:

Mahagun Moderne is one of the posh societies in Noida and is known for its top-notch amenities. Some of the amenities are as follows:

Badminton Court, Swimming pool, Creche/Daycare, Senior Citizen Sit out, top-level security, Business Lounge, Rain Water Harvesting, lavish clubhouse, and fitness center/ gym are some of the top-notch amenities of this society.
24 hours power backup, Pipe gas line, and parks.

NEARBY FACILITIES AND CONNECTIVITY OF MAHAGUN MODERNE:

Besides the top-notch facilities offered by one of the posh societies in Noida. The society is located strategically near civic benefits and enjoys first-class connectivity.

This residential project is close to Noida Extension, Greater Noida, Delhi- NCR, and Ghaziabad.
Several famous MNCs nearby include IBM, HCL, Amar Ujala, Birlasoft, Head Strong, Birla Soft, Airtel and Rajanigandha, etc.
Reputed schools like Manthan School, Ramagaya School, Manav Rachna International School, Eurokids, and Broadway International School. are close to this society.
Several multispecialty hospitals, like Neo Hospital, Max Multi-Specialty Center, Prayag Hospital, Prakash Hospital, and Fortis hospital are close.
Shopping malls such as Shipra Mall, DLF Mall of India, Gaur City Mall, Spectrum mall, and GIP are all just 10-15 mins away.

Working pattern of Realtors in Real Estate Property

Posted on January 27, 2023 by deepshikha

Top 100 Real Estate Agents in Indore - Best Estate Brokers - Justdial

Real estate agents make the connection between buyers and sellers for transactions and offer all the legal agreements for your home while selling it. Realtors are reimbursed through, the commission which is based on the total percentage of the sale of the house, where the percentage depends on their state and brokerage. You can search online to get the best quality realtors because authentic realtors always give the best service to their clients. Real realtors are very valuable in their field for dealing with property. Hence, propertywala.com bring every detail about the working pattern of realtors in real estate Property.

Reasons you should know before choosing a Realtor:

A real estate agent has several administrative tasks in well-run real estate business. So, there are significant reasons for choosing an excellent real estate agent for rent property online as follows-

A well-organized realtor has the best skill.
Realtors are experts to analyze the market and try to give a unique price tag and sell real estate property at a relevant price to the customers.
Successful realtor has a unique market portfolio, so they are familiar with the recent trends and their portfolio in the market and easily understand the desire of buyers.
An excellent realtor reduces the chances of losing anything. In case you are worried that realtors can dig deep into your pocket, it is wrong to think.
They can provide a huge interest in the responsibility of selling your home. They will assure you to get the best interest from the realtor services.
Realtors know the proper strategies for implementing real estate property to attract traffic.

Things to know while renting your property:

You should know some features while renting your property, below are listed-

Property taxes- Property taxes should be on the top list wherever you rent the property because it has broad access through your target area.
Neighborhood- When you go for the rental property, you have to understand the quality of the community which helps you to know your neighbors in which you will determine different types of tenants.
If you are dealing with family, then schools are one of the most significant factors for rental property.
The job market is also essential when choosing a rental property.
Your real estate agent should be excellent at real estate property.

Qualities of real estate agents for dealing in a property:

When it comes to getting a home or wanting to sell, the process of buying or selling a home is challenging and sometimes stressful. But, the good news is that you don’t have to do it alone. In fact, with the right agent, the homebuying journey – from house hunting to signing the contract – can be exciting. A good real estate agent is someone who is amiable, knowledgeable, trustworthy, and has the resources and tools to get the job done. Here are some qualities you should consider in your real estate agent;

Always try to make contact with the dealer through the online portal.
The dealer should have a vast source as well as knowledge for selling the real estate property to the tenants.
An excellent real estate agent has a simple way of working which helps the client remarkably.
They always charge a negotiable amount from genuine buyers instead of charging huge amounts.

Working pattern of Realtors with sellers:

Both real estate agents and sellers meet and understand the needs of sellers with new listings.
Show your market knowledge, marketing abilities, and negotiation skills.
Research on the activity of the current local market comparable properties to establish an asking price.
To prepare a property presentation and advertising collateral, take photos of the property (interior and exterior).
Construct the home properly, so it looks perfect when you do open houses.

Working pattern of Realtors with buyers:

Research the listing services that suit the needs of your clients for the property.
Meet with, interview, understand, and qualify the expected buyers.
According to the buyer’s schedule, plan property showings for buyers and set up appointments with them.
Show the property to the buyers and communicate details of the property you learned during your research.
Demonstrate negotiation skills and make offers of purchase on real estate.

Story Behind Jaypee’s Failure

Posted on January 25, 2023 by deepshikha

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:

Jaypee group took the money that buyers had paid for homes and invested it in other projects.
The company invested the money in other businesses.
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

Posted on January 17, 2023 by deepshikha

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.

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.
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
TIME	Less than 24 months(2 years)	More than 24 months (2 years)
TAX	@Slab	Flat rate 20%
EXEMPTION	No	Yes
INDEXATION	No	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.

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.
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.
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.;

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.
If you sell this new property within three years of its purchase, the exemption will be reversed.
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

Posted on January 16, 2023 by deepshikha

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 TYPE	GST RATE FROM APRIL 2019
Affordable housing	1% without ITC (Input Tax Credit)
Non-affordable housing	5% 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.

CITIES	PRICE	Carpet AREA (SQ/M)
METROS	up to Rs. 45 lakhs	60 sq./m
NON- METROS	below Rs.45	90 sq./m

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

It does not subsume the stamp duty and registration charges, which you still have to pay.
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

Posted on January 10, 2023 by deepshikha

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:

Protects Parties – A well drafted deed protects both the buyer and the seller by preventing ambiguity and minimizing legal risks.
Defines The Area – Buyers find it helpful to specify the square footage and locations of properties on paper.
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:

Details of the party – The details of the party include the names, ages, and addresses for both buyers and sellers.
Details of the property – The location of the property, a description of the property, and construction details.
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.
Handing over the original papers of the property and the possession details.
No dues on the property – On the property, no dues, such as loans, tax, liability, and other dues.
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?

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.
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.
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.
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.
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

Posted on January 5, 2023 by deepshikha

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:

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.
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.
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.
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.
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.
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:

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

Stamp duty and registration charges in India?

Posted on December 30, 2022 by deepshikha

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?

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.
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

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.
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

Delhi Stamp Duty charge has been going on since the year 1908, which is a retardation charge.
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.
The Registration charge is 1% of the property value.

Owner	Stamp Duty
Male	6%
Female	4%
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.

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Posted on December 29, 2022 by admin

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

Posted on December 28, 2022 by deepshikha

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

Posted on December 23, 2022 by deepshikha

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

Posted on December 22, 2022 by deepshikha

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:

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.
Buyers should check that there are no liens or other encumbrances on the property before they make an offer.
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.
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

Posted on November 30, 2022 by deepshikha

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:

It is located at Altamount Road, Mumbai, Maharashtra
The area of Antilia (in sq. ft.) is 4 lakh sq. ft.
Total no. of floors 27.
Mukesh Ambani’s house has approx. 600 staff.
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.
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

The location of the house is Altamount Road, Mumbai, Maharashtra, located next to Antilia.
The area of the house ( in sq. ft.) is 16,000 square feet.
The total no. of floors is 30.
There are 6 Parking floors.
Some other features: 2 swimming pools, a spa, a gym, and 1 helipad.
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:

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

Jatia House is located at Little Gibbs Rd, Malabar Hill, Mumbai.
The area of the house (in sq. ft.) is 30,000 square feet.
There is a total of 3 floors.
Some other features of Jatia House are: a grand garden, a small pond, a central courtyard, and 20 bedrooms.
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

The address of the house is Mannat, Land’s End, Bandra (West), Mumbai.
The area of Mannat (in sq. ft.) is 27,000+ square feet.
There are 6 floors.
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.
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

THE FUTURE OF INDIAN REAL ESTATE BY 2040

Posted on November 30, 2022 by deepshikha

Why Real Estate Investment in India is the Most Profitable Option?

A short look at the Real Estate Industry:

The word “Real” is the Latin root rex, which means “royal”. Earlier, kings used to own all the land in their kingdoms. Therefore, the most globally acknowledged sector all over the world is the real sector. If we know real estate in terms of business, it means the game of producing, buying, and selling property. According to the economic sector, the construction of industry ranks third among the 14 major sectors. The future of Indian real estate by 2040, the market will grow to Rs. 65,000 crores (US$ 9.30 billion) from Rs. 12,000 crores (US$ 1.72 billion) in 2019.

After the agriculture sector, the real estate sector is the second-highest employment generator in India. Also, this sector will sustain non-resident Indian (NRI) investment for the short and the long term. Bengaluru is the top city and is the most recommended property investment destination for NRIs, followed by Ahmedabad, Pune, Chennai, Goa, Delhi, and Dehradun. PropertyWala.com evaluates the future of Indian real estate by 2040.

The Market size of the future of the Indian Real Estate Industry by 2040:

This sector is about to reach US$ 1 trillion in market size by 2030, up from US$ 200 billion in 2021 in India. It contributes 13% to the country’s GDP (Gross Domestic Product) by 2025. India’s growing infrastructure is much needed to grow as retail, hospitality, and commercial real estate are also growing significantly. Within a year, India’s real estate sector saw over 1,700 acres of land deals in the top 7 cities. In the commercial real estate sector, foreign investment was at US$ 10.3 billion from 2017-21.

Indian firms are estimated to boost >Rs.3.5 trillion (US$ 48 billion), according to the report of ICRA (Investment Information and Credit Rating Agency of India Limited). It is through infrastructure and real estate investment trusts in 2022. The Savills India report said that the real estate demand for data centers is to increase by 15-18 MSF in the year 2025 whereas in 2021 around 40 MSF has been delivered in India. Now, it assumes that the country will have a 40% market share within 2-3 years whereas India is looking to deliver 46 MSF in 2022.

Conclusion:

In India, a total of 55,907 new housing units were sold in the 8 micro markets between July 2021-September 2021, which means there is 59% growth year over year, whereas, in the third quarter of July-September 2021, new housing supply stood at ~65,211 units, an increase by 228% YoY across the top 8 cities when its compared with ~19,865 units which launched in the third quarter of 2020. The commercial space is to record increasing investments in 2021-22 when it comes to commercial space in Gurugram.

According to the Economic Times Housing Finance Summit report:

Almost, 3 houses are raised per 1,000 people per year as compared to the construction rate of 5 houses per 1,000 people. The current shortage of housing in urban areas is said to be ~10 million units. Hence, 25 million units of housing are vital by 2030. This is to meet the growth in the country’s urban population.

Pradhan Mantri Awas Yojana (PMAY)

Posted on November 30, 2022 by deepshikha

प्रधानमंत्री ग्रामीण आवास योजना 2022 ऑनलाइन आवेदन | PMAY-G Beneficiary लिस्ट | पात्रता | जरुरी दस्तावेज

What is PMAY?

PMAY is Pradhan Mantri Awas Yojana – Urban, which was proposed to serve housing for all in urban areas by the year 2022. This is a flagship Mission of the Government of India being applied by the Ministry of Housing and Urban Affairs (MoHUA). It was launched on 25th June 2015. This is also known as Housing for All. In this mission, the lack of houses in urban areas is among the Economically Weaker Section (EWS) or Low Income Group (LIG) and Middle Income Group (MIG) groups including the slum occupants by ensuring a pucca house to all urban households who are eligible for this scheme when the Nation completes 75 years of its Independence in 2022.

In the execution and success of PMAY(U), State Level Nodal Agencies (SLAs), Urban Local Bodies (ULBs)/ Implementing Agencies (IAs), Central Nodal Agencies (CNAs), and Primary Lending Institutions (PLIs) are the main contributors and plays an important role in it. According to the guidelines of PMAY(U), the size of a house for EWS could be up to 30 sq. meters carpet area, however, States/UTs have the flexibility to increase the size of houses in approval and consultation of the Ministry.

PMAY(U) EXTENDED TILL 31, DECEMBER, 2024:

According to the government statement, everyone knows that this scheme was launched in 2015 with the target of constructing over 1.12 crore homes in urban areas by August 15, 2022, but the Cabinet approved an extension till December 31, 2024. So, the houses already approved are completed. This is because while the initial order for houses was 1.12 crore, the Housing and Urban Affairs Ministry has so far approved 122.69 lakh houses, of which 102.59 lakh have been grounded and 61.77 lakh have been delivered as on August 1.

As per the statement of the Lok Sabha on July 21, Housing and Urban Affairs Minister of State Kaushal Kishore had said: “A proposal seeking extension of the mission up to March 2024, to complete all houses authorized under the scheme up to 31 March 2022 without changing the funding pattern and implementation methodology, is under consideration. Meanwhile, an interim extension of 6 months for all verticals except Credit Linked Subsidy Scheme has been granted.”

MISSIONS AND FACILITIES UNDER PRADHAN MANTRI AWAS YOJANA PMAY(U):

The Mission covers the whole urban area including Statutory Towns, Notified Planning Areas, Industrial Development Authorities, Development Authorities, Special Area Development Authorities, or any such authority under State legislation that is authorized by the functions of urban planning & regulations. Under PMAY(U), all houses have amenities like toilets, electricity, a water supply, and a kitchen.

ELIGIBILITY CRITERIA FOR PMAY(U)?

This mission provides the ownership of houses in the name of the female members or in a joint name to promote women’s empowerment. Although, preference is also given to differently-abled persons, senior citizens, STs, SCs, OBCs, minorities, transgender, single women, and other liable and weaker sections of the society.

The eligibility criteria for the Pradhan Mantri Awas Yojana are as follows-

The Applicant’s Family must not own a house in any part of the country.
PMAY is accessible for an economically weaker section (EWS), LIG (Low Income Group), MIG-I (Middle Income Group I), and MIG-II (Middle Income Group-II) sections of the society.
The family should not have a pucca house in their name or any family members.
The subsidy is notifying both banks and housing finance organizations.

HOUSING FOR ALL (HFA):

The scheme with a vision of ‘Housing For All’ being executed through four verticals: Beneficiary Led Construction/Enhancement (BLC), In-situ Slum Redevelopment (ISSR), Affordable Housing in Partnership (AHP), and Credit Linked Subsidy Scheme (CLSS).

Hon’ble Prime Minister proposed Housing for All by 2022 when the Nation completes 75 years of its Independence. In order to fulfill this objective, Central Government has launched a comprehensive mission “Housing for All by 2022”.

ELIGIBILITY CRITERIA OF PMAY(U) FOR DIFFERENT INCOME GROUPS:

ECONOMIC SECTION	ANNUAL FAMILY INCOME	MAXIMUM CARPET AREA	INTEREST SUBSIDY (%)	MAX. INTEREST SUBSIDY OF
EWS	Up to Rs. 3 lakh	30 square meters	6.50%	2.67 lakh
LIG	Rs. 3 lakh to Rs. 6 lakh	60 square meters	6.50%	2.67 lakh
MIG – 1	Rs. 6 lakh to Rs. 12 lakh	160 square meters	4.00%	2.35 lakh
MIG – 2	Rs. 12 lakh to Rs. 18 lakh	200 square meters	3.00%	2.30 lakh

WEBSITE FOR MORE DETAILS ON PMAY(U):

For further details on PMAY(U), like, who can claim this subsidy, amenities under Housing for All, and how to apply for Housing for All, you can visit the given websites and get the opportunity for this subsidy “Housing for All”.

Take your business to new heights this Diwali with our special offers

Posted on October 19, 2022 by admin

The festival of lights is almost here and we hope your Diwali celebrations are filled with joy, laughter, and prosperity.

With COVID now behind us, we want to help you make the best of what’s coming up.
We are here to support you and your business as you navigate this new landscape and get ready for what’s next.
We have some huge discounts as well as an exciting new package launch.

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Note: These limited time offers are available online only, without any changes or further discounts. For queries please contact us.

Project360 & Agent360 Digital Marketing Package New

With our 16 year+ experience in Digital Marketing for Real Estate and after a lot of research, we are launching an all-in-one digital marketing package for builders and agents.
This first of a kind package has the perfect mix of digital marketing strategies optimised for brand building and lead generation online.
Whether you are looking to promote a real estate project/company or generate leads, sit back and relax and let us handle the digital marketing for you.
Interested? Please contact us to know more.
Don’t forget to ask for the Diwali discounts.

☏ Call 08587067525

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

Best Regards
PropertyWala.com Team
www.propertywala.com

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

Why Invest in Plots Near Jewar Airport – A Survey

Posted on September 8, 2022 by deepshikha

An Overview:

The aviation market in India is one of the fastest-growing in the world. Delhi Airport is one of the airports which has its fair share of crowding and congestion. The Government of India has planned to establish a second air hub to address this problem namely the Jewar Airport. This intensive project, officially known as Noida International Airport, is located along with the Yamuna Expressway in Jewar. This project has immense scope to boost infrastructure development and increase the demand for commercial and residential plots near Jewar Airport

Meanwhile, if you are looking for investment in the real estate sector near the airport or close to this location, propertywala.com brings you every detail.

Why Look for Plots close to Jewar International Airport?

Make sure to do research before making an investment in a residential/ commercial plot. Accordingly, before making the final decision, learn about the location advantages in terms of connectivity, pricing, and social infrastructure. Below, is the list of advantages of purchasing a plot near Jewar Airport.

BOTH SOCIAL AND PHYSICAL INFRASTRUCTURE:

The Gautam Buddha University, a popular residential area located near Jewar on the Yamuna Expressway, adds to the area’s social infrastructure, making it a lean residential zone.
The achievement of Jewar Airport would encourage tourism, providing foreigners direct and easy access to the Taj Mahal via the Agra Expressway.
Yamuna Expressway also boasts the first and only Formula 1 Circuit in India. So, there are also other sports opportunities. For example, a cricket stadium, a tennis court and, a multi-purpose stadium are also on the list of plans.

Connectivity:

The Yamuna Expressway offers an Intelligent Transport System, which aims to provide maximum safety to travelers, convenience, and security when traveling between Greater Noida and Agra.
The connectivity between Agra Ring Road and the Noida-Greater Noida Expressway by the Yamuna Expressway. It will soon join with other major cities. For example Gurgaon, Rohtak, Sonipat, and Manesar in Haryana and in Uttar Pradesh – Meerut, Hapur, and Ghaziabad.
Thus, to reduce travel time and distances. Hence, the Yamuna Expressway will also connect cities such as Lucknow, Kanpur, and Gwalior.

Manufacturing, Logistics, and More:

The forthcoming Delhi-Mumbai Industrial Corridor will pass through Dadri which would improve the Yamuna Expressway’s directions, warehousing hubs, and special development zones.
On the other hand, more than ten-10 companies, like the USA, Korea, Japan, etc. are raising manufacturing plants along the Yamuna Expressway near Jewar airport.
In last, at the suggestion of the Yamuna Expressway, the Industrial Development Authority (YEIDA), has suggested constructing an Information Technology hub with an investment of about Rs.15 crores.

Residential Plots Near Jewar Airport:

In fact, after the pandemic home buyers were looking for a property with enough space to accommodate a home office. While apartments are still the mildest form of property investment, residential plots are now a close second to apartments. Areas with huge developed infrastructure projects like Jewar are attracting eyeballs, allowing homebuyers and investors to make smart and wise decisions. A large group of people is expecting to invest in the context of residential plots near Jewar airport as they anticipate a significant increase in land prices.

This graph shows that the typical price for residential plots close to Jewar Airport is:

According to the graph, the average prices for residential plots close to Jewar Airport are Rs.28,193 per sq. yard (Apr-Jun 2022). These prices increased by 34% from Q1 2022 to Q2 2022. Annually, the residential plots near Jewar Airport have increased from Rs.15,533 (Apr-Jun 2021) to Rs.28,193 per sq. yard (Apr-Jun 2022)

Leading neighborhoods with residential plots near Jewar Airport-

Areas	Plot Size	Average Prices
Jewar	50 Sq yd	Rs.6.5 lakh onwards
Dankaur	120 Sq yd	Rs.9.5 lakh onwards
Yamuna Expressway	900 Sq yd	Rs.46 lakh onwards

table shows the plots size and its prices of residential plots

Commercial Plots near Jewar Airport:

There has been an increase in demand for commercial properties and plots in Noida/Greater Noida for the past few years. People have started looking at commercial investment from the perspective of rental income and capital growth. An ambitious project, Jewar Airport, is important in attracting many people to commercial business investment. Hence, the demand is increasing for commercial land for office buildings and plots in the region.

But, if we compare the average costs of commercial lands from last year, i.e. from Jan-Sep 2021, they have witnessed a massive fall from Rs.1,15,981 from April-June 2022 to Rs.28,193 per sq yard (April-June 2022).

Leading locations near Jewar Airport with commercial plots-

Areas	Plot Size	Average Prices
Yamuna Expressway	100 Sq yd	Rs.9.2 lakh onwards
Jewar	3468 Sq yd	Rs.3.2 crores onwards
Knowledge Park 5	1783 Sq yd	Rs.5.50 crores onwards
Knowledge Park 3	2153 sq yd	Rs.7.50 crores onwards

table shows the plot size and average prices of commercial plots

Jewar Airport – area plot owned by the Yamuna Authority:

Near Jewar on the Yamuna Expressway, Greater Noida, Yamuna Authority offers a variety of commercial and residential plots known as Authority Plots. There are various site configurations are available, enabling potential buyers to construct luxurious houses and offices according to their tastes.

Types of Authority Plots along the Yamuna Expressway close to Jewar Airport-

Plot Type	Minimum Price	Maximum Price
Residential Authority Plots near Jewar Airport	Rs.9.5 Lakhs	Rs.85 Lakhs
Commercial Authority Plots near Jewar Airport	Rs.83 Lakhs	Rs.1.60 Crores

table shows the plot type with its mini. as well as max. price near Jewar airport

Explore Newest Updates on Plots near Jewar International Airport:

Due to the highly increased demand for plots near Jewar Airport, the Yamuna Expressway Industrial Development Authority (YEIDA) conducted a lucky draw to allot six commercial/industrial plots in Sectors 32 and 33, each measuring at least 4,000 square meters. Before the construction of the Jewar airport began, the administration said that there were no buyers for these plots. But as soon as the building work started, some 80 companies applied for these plots, and picking winners from a lucky draw is a terrific way.
The government approved the construction of a road connecting Haryana to the forthcoming Jewar Airport in Gautam Buddha Nagar, UP district. With a budget of Rs.2,414.67 crores, this project connects UP West, Mathura, and Agra and will also be finished in two years.
In order to become India’s first greenfield digital airport, NIA (Noida International Airport) selected ICAD Holding as its MSI (Master System Integrator) consultant. The NIA wants to apply paperless processing across checkpoints by using the government’s DigiYatra policy.
YIAPL (Yamuna International Airport Private Limited) and the Airports Authority of India (AAI) have signed a contract for the provision of ATM (Air Traffic Management) and CNS (Communication Navigation Surveillance Systems) amenities at the Noida International Airport. Moreover, the airport will also have Advanced Control Systems, Surface Movement Guidance, and ATS Automation Systems to allow situational awareness and provide decision support to Air Traffic Controllers for smooth weather operations.

New Updates:

After getting approval from AAI (Airports Authority of India) and the Airports Ministry, YEIDA (The Yamuna Expressway Industrial Development Authority) approved the Jewar Airport Master Plan.
YIAPL (Yamuna International Airport Private Limited) announced fund arrangements via using loans. YIAPL specified raising Rs.3,725 crores as a loan from SBI (State Bank of India), an amount that will be repaid over 20 years post-completion of the project.
Zurich Airport and NIAL (Noida International Airport Limited) signed a shareholder contract for the development of Jewar Airport. The project will be. YIAPL (Yamuna International Airport Private Limited), a subsidiary of Zurich International Airport, will tackle the project.
BCAS ( Bureau of Civil Aviation Security) granted a security certification to Noida International Airport, the Jewar Airport. Therefore, the Jewar Airport Master Plan’s still pending approval remains a regulatory obstacle.
According to the statement of Uttar Pradesh Minister Nand Gopal Gupta Nandi, “100% of land acquisition for the Noida International Airport or Jewar Airport is completed. The airport is spread across 1,334 hectares of land, and its testing will begin in March 2024. Once the testing ends, the airport will be ready to use by October 2024.

The Master plan of Jewar Airport for 2041:

During the 74th board meeting, the YEIDA (Yamuna Expressway Industrial Development Authority), discussed the after-construction of the Jewar airport master plan. Then, MARS Planning and Service Pvt Limited received the area development tender on 24th August 2022. Thus, the focus on the development of the surrounding area of the Jewar airport is the ‘Master Plan 2041’. About 35 lakh people would live in the urbanized area of 32,000+ hectares revealed by the draft. Near the Jewar airport, the authority also plans to focus on developing a modern and urban green city in a better way.

At last, according to the plan, the city will have an amazing transport system which will make it traffic-free. Therefore, the authority plans to construct industrial areas close to the Jewar airport and enhance connectivity by launching new metro routes.

The Verdict: Purchasing Land In Future Near Jewar Airport:

Further, there is a bright future for plots near Jewar airport which are excellent investment opportunities in the land. As everyone knows the rising price trends of properties near airports in other major cities such as Bangalore, Mumbai, and Delhi, land near Jewar airport will also rise. The flow of prices in property, however, may not be sudden, it may fluctuate with the progress of the airport construction and drive valuable returns soon after completion.

The airport will be established in Noida on the global logistics map as a game changer. After the completion of Jewar Airport, it will also push toward economic activities around the NCR regions and create a large pool of job opportunities in the region, as well as excellent connectivity and transportation options that will be available near the airport. For example- Knowledge Park, Jewar, and the Yamuna Expressway.

The residential plots ensure a pleasant life, while the commercial plots are ideal from a business standpoint. It would be right to advise that purchasing a plot now will enable you to obtain big rewards later on.