Building Has Been Built The New Plan

Posted on August 3, 2023 by supriya

A wide range of modern methods of construction (MMC) techniques and products have been developed, completely altering the construction industry’s behavior from what it was previously.

This incredible transformation brings about more and more developments in this sector.

What are Modern Construction Methods?

Modern construction methods (MMC) are developed in the construction industry with proper planning and design to reduce construction time and cost while maintaining overall sustainability.

Many methods are used and built in the current scenario. The most well-known and widely used modern construction methods are listed and explained below.

Modern Construction Methods Types

Among the various MMCs used in the construction industry are:

Flat Panel Precast System
Volumetric 3D Modules
Flat Slab Building
Panels of Precast Cladding
Concrete Floors and Walls
Concrete Precast Foundation
Insulation for Concrete Formwork

Flat Panel Precast System

This construction method entails the process of fabricating floor and wall units off-site. Separate factory outlets and facilities are necessary for this. The panel units are manufactured according to the design specifications and requirements and brought to the site for installation. This method is best suited for construction project activities that continue.

Windows, doors, and finishes are available on the manufactured panels. This method includes factory-fitted building envelope panels with insulation and decorative cladding that can load-bearing elements.

3D Volumetric Construction

As the name implies, 3D volumetric construction entails the off-site production of 3D units consisting of modules. They are brought to the installation site and assembled module by module. Because each modular unit produced is a 3D unit, this construction is known as a 3D volumetric building or modular construction.

The modules can be transported in multiple ways or by various means. It can include transporting the basic structure or a completed unit with all internal and external finishes and services installed, with only the assembly remaining. The factory construction combines various items of the same product while maintaining quality throughout. As a result, this method works best for repetitive projects that require the goods to assemble quickly.

Flat Slab Building

Flat slabs are extremely versatile structural elements. Because of its versatility, it frequently appears in construction. The flat slab provides minimum depth and faster building. The system also includes adaptable column grids.

Flat slabs are a good choice where it is necessary to steal the partitions to the slab soffit due to acoustic and fire concerns. Flat slabs are faster and less expensive than other types of construction. When building on flat slabs, it’s possible to cover the soffit with a good surface finish. Flat slab construction also increases energy efficiency because it allows for utilizing building thermal mass when planning ventilation, heating, and cooling requirements.

Concrete Foundations Precast

Precast concrete is an option for quick foundation construction. This method is better suited for custom design. The elements required for the foundation’s construction are built separately in the factory (off-site), then transported to the site and assembled. The manufactured product must meet the quality standards specified by the designer.

Concrete piles serve as the primary support for the assembled foundation. Both systems connect during the assembly process. These foundation systems aid in increasing productivity, improving quality, and reducing the amount of soil excavated. It is best suited for extreme and adverse weather conditions. This construction system is the best choice when dealing with highly contaminated ground.

The technology of Twin Walls

The twin wall technology is a hybrid wall system that combines the erection speed and precast concrete qualities with the structural integrity of in-situ concrete. This particular wall system ensures the structure’s structural integrity and waterproof reliability. The twin wall system has two wall slabs. Lattice grinders cast in place separate the two slabs. The procedure involves:

The job has a wall unit.
The twin units are temporarily higher.
Later, reinforcing serves to join the wall units.
Concrete fills the space between the wall units.

This construction method is both faster and more cost-effective than traditional methods. The twin wall system has its main application in erecting precast floors.

Concrete Formwork Insulation

The insulating concrete formwork (ICF) system employs twin-walled panels that are either polystyrene panels or blocks. These swiftly come together to serve as the building’s formwork.

Concrete is the formwork that has emerged. This concrete is manufactured in a factory with quality assurance and is ready-mixed. The majority of the mix is ready-mix concrete.

Expanded polystyrene blocks provide a higher level of thermal insulation. The concrete core will provide strength and sound insulation.

Panels of Precast Cladding

The cladding system is the process of layering one material on top of another to form a skin or layer. This layering system is not only for aesthetic purposes, but it can also aid in controlling the infiltration of weather elements.

The cladding does not provide any kind of waterproofing. Instead, the cladding acts as a water barrier. It safely aids in the direction of water or wind, allowing runoff control. It helps to prevent infiltration into building structures.

Concrete Floors and Walls

Concrete walls are commonly used for seat walls, retaining walls, decorative exterior and interior finishes, and other structures. Concrete can also serve as a flooring material. Concrete floors can finish well using modern technology, creating smooth and appealing flooring. Concrete floors, perhaps more than any other material, offer an array of materials for applications such as acid-stained painted, radiant floors, overlays, and micro toppings.

Concrete flooring is also known as cement flooring. Concrete flooring is less expensive than other types of flooring and requires little maintenance. A dust mop is an option to clean properly sealed concrete flooring.

GST on Rental Income from Residential Property in India

Posted on July 29, 2023 by supriya

GST applicability on renting properties in India has been a source of concern due to continuous changes in the law since the implementation of GST. The rules for renting residential property under GST changed on July 18, 2022, a decision made by the GST Council at its 47th meeting. The CBIC has issued a new notification to clarify the scope of GST on rental income from residential property rentals. Let us look at the GST provisions on this topic.

We will immediately clarify that renting an immovable property is considered a supply of service and is subject to GST at 18 percent. The CBIC recently issued Notification No. 15/2022- Central Tax (Rate), which goes into effect on January 1, 2023. To learn more about the notification in question, we must first examine the provisions on this subject in India since the implementation of GST.

GST applies to residential properties until July 17, 2022.

The entry at Sr.No. twelve of Notification No. 12/2017 – Central Tax (Rate) stated that the GST rate for “Services by way of renting of residential dwellings for use as a residence” shall be “Nil.” Accordingly, from July 1, 2022, GST was not in effect (whether registered or unregistered under GST). However, the legal position under GST changed on July 18, 2022. Please note that renting commercial property is always under the ambit of GST.

GST applies to residential properties after July 18, 2022.

In its 47th meeting, the GST Council recommended that the government impose GST on a person who has given property to a registered person to rent residential property.
As a result, the CBIC issued Notification No. 4/2022- Central Tax (Rate) on July 13, 2022, withdrawing the earlier allowed exemption from GST for those renting residential dwellings. This notification was made effective from 18th July 2022.
The net effect of the above amendment is that beginning July 18, 2022, any person who provides services by renting residential property for use as residence to a registered person will be subject to the GST at the rate of 18%.
It is important to note that GST will continue to be exempt in cases where a residential property is left to an unregistered person after July 17, 2022.

The obvious next question is, “Who will pay tax to the government for renting residential property to a registered person?” The reply can be found in Notification No. 5/2022 – Central Tax, dated July 13, 2022.

The previous Notification, dated June 28, 2017, added a new entry 5AA to Notification No. 13/2017-Central Tax (Rate), which specifies services subject to GST under reverse charge.

According to Entry No. 5AA, anyone who provides services to a registered person by renting residential property is subject to GST 18% under the reverse charge mechanism.

In a nutshell, beginning July 18, 2022, if a landlord rents residential dwellings to a registered person (tenant), such tenant will be required to pay an 18% tax to the government. It should be noted that even if the landlord is registered for GST, the registered tenant is responsible for paying GST under RCM. This table will assist you in summarizing:

Residential Dwelling Rental Services

Landlord	Tenant	GST applicability	ITC availability
Unregistered	Unregistered	No GST	NA
Registered	Unregistered	No GST	NA
Unregistered	Registered	GST payable by a tenant under RCM	If the property is rented for business purposes, ITC can be claimed.
Registered	Registered	GST payable by a tenant under RCM	ITC can be claimed if the property is rented for business purposes.

How to Save Capital Gain Tax on the Sale of Residential Property

Posted on July 10, 2023 by supriya

Capital gain is the increase in the value of an asset over time. The owner realizes this capital gain when the property sells. The difference between a property’s selling and purchasing prices is capital gain.

Any profit derived from a capital asset will qualify as Capital Gains for income tax purposes and be subject to capital gains tax. The land is known as a Capital Asset, and as its value rises, the owner may realize significant capital gains upon sale. Nonetheless, it is worth noting that agricultural land in rural India does not meet the definition of a Capital Asset. As a result, no capital gains tax applies upon its sale. Let us look at how profits from the sale of land will be taxed and how we can save money on taxes.

Short-term or long-term capital gains

The tax implications vary depending on whether the gains are short-term or long-term. Capital gains are regarded as short-term if you owned the land for up to 2 years (24 months) before selling. It will, however, be considered a long-term capital gain if held for more than 24 months.

How to Calculate Capital Gains

Short-term capital gains (STCG)

The Particulars	Amount
Total Selling Price	(xxx)
Less:	(xxx)
Acquisition Cost	(xxx)
Direct Sale Expense	(xxx)
Exception Sections- 54B, 54D, 54G, 54GA	(xxx)
STCG (Short-term capital gains)	(xxx)

The only difference for Long capital assets is that you can deduct the Indexed Cost of Acquisition/ or indexed cost of Improvements from the sale price. Indexation is a way of adjusting the purchase price to account for the impact of inflation using the Cost Inflation Index (CII). This adjustment increases your cost base (and reduces your gains).

Particulars	Amount
Total Sales Price	(xxx)
Less:	(xxx)
Acquisition Cost Index	(xxx)
Direct Sales Expense	(xxx)
Exemption Section: 54B, 54D, 54EC, 54F, 54G, 54GA	(xxx)
Long-term Capital Gain	(xxx)

What are the Tax Rates?

STCG is taxable income and taxable at the applicable slab rates. See the latest income tax slab rates.
LTCG gets taxed at a rate of 20%, with an indexation benefit.

How to save Capital Gain Tax on the sale of residential property

Section 54F (applying if the asset is a long-term capital asset)

If you use the proceeds from the sale of land to buy a house, you may be able to claim an

exemption from capital gains tax if you meet all of the following conditions:

The exemption only applies to individuals or HUFs; it’s not open to corporations, LLPs, or firms.
The new house you buy or build must be in India.
Purchase the house within one year of the land sale date or two years after the sale date.
Build one house within three years of the date of the land sale.
Do not sell the house within three years of purchasing or building it.
You should only own one residential house on the transfer date, excluding the new one.

If you meet these requirements and invest the sale proceeds in the new home, you will not be subject to capital gain taxes. An exemption is proportional to the amount invested, which is the cost of the new house multiplied by the capital gains/ net consideration.

By Investing in Capital Gains Account Scheme

Finding a suitable seller, arranging the necessary funds, and completing the vital paperwork for a new property can be a stressful and time-consuming jobs. Fortunately, the Income Tax Department is aware of these constraints.

If you need to invest your capital gains till you file your income return (usually on the 31st of July), you may deposit them in the Capital Gains Account Scheme (CGAS). And claim this as an exemption from capital gains in your return; you will not have to pay tax on it.

54EC (applicable if it is a long-term capital asset)-Purchasing Capital Gains Bonds

What if you never intend to purchase another property? It is pointless to invest the money in a Capital Gains Account Scheme. In this case, you can still save taxes on your capital gains by putting them in the following bonds:

Rural Electrification Corporation Limited bonds, also known as REC bonds,
Bonds issued by the National Highway Authority of India, or NHAI.
Power Finance Corporation Limited bonds, also known as PFC bonds,
Indian Railway Finance Corporation Limited, or IRFC, issued bonds.

These are redeemable after five years and cannot be sold within three years of the house’s sale date.

You have six months to invest in these bonds; however, to claim this exemption, you must invest before the return filing date. The Budget for 2014 has specified that you are allowed to invest a maximum of Rs 50 lakhs in these bonds in a financial year.

Studio Apartment in Bangalore for Rent without Deposit

Posted on June 29, 2023 by supriya

Millennials relocate to metropolitan cities in search of a better way of life, and most individuals have one thing in common: they are all looking for rental housing. Living in a studio apartment is a new trend on the market. Studio apartments are becoming increasingly popular.

It is difficult to find a rental property that is both affordable and spacious in cities such as Bangalore. Given all this, living in a studio apartment might be a wise choice.

Studio apartments in Banglore have a room, kitchen, and bathroom, so they’re ideal for bachelors or live-in couples.

But if you have not decided yet, here are some studio apartment pros and cons to help you make a better decision:

Pros of renting a studio apartment in Bangalore

Studio apartments are slightly less expensive and are ideal for those on a tight budget.
Studio apartments are a low-maintenance investment that is simple to furnish and maintain.
Because studio apartments are small, they help you save money on other expenses like lighting, cooling, and heating.
Studio apartments usually sit in urban areas near commercial hubs and transportation options. As a result, residents of such flats benefit from the advantages of location and connectivity.

Cons of renting a studio apartment in Bangalore

They are not for everybody, particularly couples planning to start a family.
They have room for decoration because too much furniture can make the space appear crowded.
Because of limited space, socializing in studio apartments can be difficult.
Studio apartments in Banglore can be claustrophobic for people unaccustomed to living in small spaces.

You are in luck if you are looking for a studio apartment that needs little space, money, services, or amenities. The amenities in Bangalore’s studio apartments for rent will leave you wanting more. Continue reading to learn more about the facilities.

You can have a fulfilling experience while getting a fully furnished room. Regardless of changing preferences, everything comes down to affordability. Given their tight budgets, millennials prefer living in affordable and convenient housing. You can enjoy all of the luxury and amenities of a studio apartment for rent in Bangalore at an affordable, all-inclusive rate. A studio apartment in Banglore uses technology to improve security in rental homes, such as biometric cards, facial recognition, CCTV, sensors, and so on, making it easier for the residents.

If you are looking for a studio apartment for rent in Bangalore, this is the place to be. Whether you’re a bachelor, a working individual, or a live-in couple, these studio apartments are for anyone seeking a suitable lifestyle on an affordable budget.

Prime Commercial Property for Sale in Noida: Best Property Deals

Posted on June 14, 2023 by supriya

Purchasing commercial real estate in Noida has grown in popularity recently for several reasons. More and more people are considering commercial investments in terms of potential capital growth and steady rental income. Since Noida is a commercial hub, many job seekers flock there, which increases residential investment. Due to their interdependence, commercial real estate demand has unavoidably increased.

However, commercial projects must sit in a way that will encourage substantial business or investment growth. The place to invest in commercial real estate is in a well-planned city like Noida, renowned for its state-of-the-art infrastructure and superior connectivity. A wise choice is to invest in Noida commercial real estate. There are a few things to think about before making the choice.

Noida is the center of commercial real estate investment. Everyone can commute easily because of the metro’s presence and the wide streets connecting this neighborhood to other areas of town. It is beneficial for networking when multinational corporations with significant corporate offices advertise their presence here. For those who live and work here, the city’s presence of shopping malls, restaurants, banks and ATMs, reputable healthcare facilities, and schools makes life simpler and more convenient. It is a bustling area with lots of traffic, making it a forward-thinking choice for a successful investment.

Demand from the Market: Noida stands out as a densely populated area with a sizable residential component, which enhances the benefits of commercial real estate by increasing profits and reducing the likelihood of vacancy. A large catchment area ensures high rent and capital returns because such locations generate demand for commercial or retail setups.

Maintenance must be a practical cost-cutting measure when purchasing a commercial property.

High maintenance costs could deter investment.

Real estate is one of the safest and most effective investments. It is an investment type whose prices don’t change daily, making it a largely dependable means of funding. Land, houses, and commercial buildings are the three main kinds of property in the highest and most steady demand. These three investment categories all guarantee a return on your money.

Commercial property

Commercial real estate is experiencing rapid growth in demand. Corporations, stores, and offices are all based on this kind of commercial real estate. Commercial real estate is anything not used for residential purposes and serves businesses. Real estate is owned for commercial purposes in any property, to put it simply.

Types of commercial real estate

Office Space: Office space is also in high demand because it can house multiple tenants. Given its location and style, the property might rent to many people. Typically, it is easy to find tenants for office space.
Multiple families: Multifamily real estate is known as real estate that has multiple residential units. The simplest way to turn this into commercial income is to rent the apartments. It is the easiest next step for investors looking to enter the office real estate market. The main advantage of owning and renting multifamily real estate is the multiple income streams from the various families residing in the residential units found on it.

Further subcategories of multifamily real estate include duplex/triplex/quadplex, mid-rise, high-rise, and apartment buildings, as well as senior housing and assisted living facilities.

Hospitality: Tourists and those seeking relaxation make up the majority of the clients for hospitality real estate. Accommodations in this category include hotels, resorts, theme parks, and bed-and-breakfasts. Hospitality real estate includes but is not limited to, low-cost hotels, extended-stay hotels, full-service hotels, limited-service hotels, short-term rentals, etc.
Retail: Real estate shops that deal in business-to-consumer (B2C) sales of goods and services. For the benefit of the clients, these properties sit in the heart of the town. Buildings like neighborhood shopping centers, regional malls, neighborhood retail centers, and power centers are examples of retail real estate.
Industrial: Real estate has grown significantly over the previous economic cycle and is relatively easy for investors due to its low entry cost and flexibility. Commercial production and manufacturing facilities, among other industrial activities, are based in industrial areas. Cold storage, showrooms, heavy manufacturing, light assembly, bulk warehouses, and flexible warehouses are a few of the different types of industrial real estate.

If you are interested in purchasing a commercial property for sale in Noida, then Propertywala can help you out, as we have 367 commercial properties for sale in Noida in the range of Rs. 2.5 lakhs to Rs. 18 crores. We can help you find commercial properties for sale in Noida in popular areas like Sector 62, Sector 140 A, and Sector 75.

Commercial properties for sale in Noida

Sector 62 is the best commercial property in Noida. The amenities and services that ITHUMS 62 offers are unmatched by any other property. It is an excellent location. Within a 2-kilometer radius, there are good hospitals, restaurants, markets, ATMs, banks, and offices nearby. Noida’s Sector 62 is a prime location for corporate offices, as it is the center for business in related industries like banking, entertainment, and education. It also has the best connectivity to Greater Noida and Ghaziabad via the Delhi-Meerut Expressway, FNG, and other wide roads.

Sector 62 serves as the center of the IT and ITeS sectors, along with other related service industries, making it more than just a sector in Noida. The fact that it serves as the hub for numerous educational institutions, such as playschools, high schools, and institutions of engineering and management, is also well known. It even has a Noida center at IIM Lucknow.

The city center of Noida and all other areas are close to Sector-62. It lies early near Indirapuram and is well-connected to Delhi via the DND and NH24. Additionally, work on extending the Metro to Sector-62 will soon begin as all necessary approvals have arrived.

Institutional businesses dominate Sector 62. Sector-62 is even more exclusive because of the limited residential areas that are present there.

Property tax for buyer

Posted on May 26, 2023 by supriya

India is the world’s second-largest country by population and one of the most rapidly growing economies, making it a hotbed of real estate investment activity. The Indian real estate market is estimated to be worth US$180 billion and is expected to grow to US$1 trillion by 2030. The Government of India levies taxes on real estate transactions.

Sec 194 IA of the Income Tax Act, 1961 states that for all transactions with effect from June 1, 2013, Tax Deducted at Source (TDS) on the property is applicable when the value of the property is more than Rupees 50 lakhs. The buyer is required to deduct 1% of the value of the property as TDS, which is to be deposited with the Income Tax Department. Then submit TDS online by the 30^th of next month in which TDS is deducted. Buyer is not required to take a TAN. Buyers can fill the form 26QB available on www.T I N – N S D L.com and deposit the government TDS. The buyer is also required to provide the seller with a TDS certificate in Form 16B as proof of payment. It is applicable on all properties except agricultural land.

Let’s have a look at some of the points to be noted:

TDS is calculated on the base amount excluding GST.
If the amount is paid in installments by the buyer, deduct 1% from each installment.
In the case of a home loan, TDS is deducted at the time payment is made to the seller, not at the time when EMI is paid to the bank.
In case there are two buyers and the individual purchase price is less than 50 lakhs but the combined purchase price is more than 50 lakhs, then TDS will be deducted.
This is also applicable when the buyer is a nonresident Indian.
If the seller does not provide PAN, then TDS is to be deducted @20%.

In case of default to deduct or submit TDS

If the buyer does not submit TDS, the sub-registrar will not register your property, and you will not be able to get the property transferred to your name. TDS is a mandatory document and must be submitted to the sub-registrar. You can get a notice from the tax department as well. In some cases, officers can impose a penalty of Rs. 1 lakh as well.

If a buyer does not deduct TDS, the interest charged will be approx @1% per month.

And if a buyer deducts TDS but does not deposit it, interest can be around 1.5% per month.

Now the amount to be deducted would depend on the residential status of the seller, and the residential status of the buyer would not be considered.

TDS applicability if a Seller is an Indian resident

If the seller is an Indian resident, as discussed above, deduct TDS of 1% of the entire sale value and deposit the same with the government.

If the Seller is a Non-Resident Indian (NRI)

Here, TDS is to be deducted regardless of purchase price, it must be deducted on all properties.

This TDS will be on capital gains tax, which is the sale price minus the purchase price minus the expenses.

Nature of Capital Gains	Description	TDS Rate on Sale of Property by NRI
Long-Term Capital Gains	Property held for more than 2 years	20%
Short Term Capital Gains	Property held for less than 2 years	Income Tax Slab Rates of Seller

So, if the property is sold after 2 years, TDS will be deducted by the buyer at 20%. There will be a surcharge, for health, and education of 20%, depending on the budget of the property sale price. If the property is sold in less than 2 years, the nature of the capital gains will be short-term capital gains, and the TDS will be as per the IT slab for NRIs.

The buyer will submit Form 27Q online and the TDS online. The buyer will give proof that TDS is deducted from the seller by giving Form 16A-NRI. If TDS is not deducted or deposited, the government will catch hold of the buyer, and the buyer must deposit it.

Affordable Housing, a priority for real estate

Posted on June 13, 2017 by drishti

With an aim to achieve housing for all by 2020 and thus planning new flats in Delhi/NCR till 2022, finance minister on January 1 had stated that the affordable housing schemes will be given infrastructural status which will be a great deal for builders like Ashiana, Housing, Puravankara. This move will dip the costs for the builders and developers and attract most and more investors.

It would also mean a great hike in demand for loans which would be a step in the forward direction for housing finance companies like Gruh Finance, as well as Repco Home Finance.

“Infrastructure status to the affordable housing segment especially to Noida real estate will mean lower loan costs for the sector and thus aims at the margin issues that private players in this segment face,” said Nidhi Seksaria, Advisory Partner & Leader – Real Estate, BDO India LLP.

“The combined with interest subventions, this could be a big step in making apartments for sale in Noida more affordable,” he said.

Ashiana Housing was already trading 15 percent higher at Rs 163. On the other hand, Puravankara was up by 3 percent. The housing finance companies, Gruh Finance was already up by 1.4 percent while Repco Home Finance was up nearly 2 percent.
To achieve the targets set by the government in the affordable housing sector, the builder tends to increase their number of apartments with a certain decrease in amenities which consequence into lower costs. The competition has increased in the past quarter and thousand of new flats for sale in Noida are being constructed and ready for you to live in.

Gudi Padwa, a positive occasion for Pune’s low Real estate

Posted on March 31, 2017 by drishti

With India’s economy finally growing its pace, Pune’s real estate market is now slowly witnessing a move in the forward direction in regard to the residential sector with a high rise in new residential launches. As prices are now stable and cheap after the announcement of the new set of rules in the Union Budget 2017, experts say that the auspicious occasion of Gudi Padwa will set a right tone in the minds of buyers to set their pace in investing new property in Pune.
With the storm of demonetisation slowly calming and settling down, Pune real estate is again starting to gather its momentum now. Gudi Padwa, according to experts is expected to give the sector a high increase in demands as residents of Maharashtra prefer home investments on the day. After slowly following this upward movement, Pune’s real estate market is expecting the past inquiries to be smoothly translated into sales. It has been noted that Pune has a huge unsold inventory of its real estate has slowed down since the past one and half years. Even those who cannot afford flats are inquiring for cheap 1bhk Flats in Pune in a relief of low-interest rates from banks and affordable schemes carried forward to them.
After the wonderful festive period, the real estate saw an exhausted inquiry inventory and a piled up sales record. This was due to the belief of auspicious occasion and the pocket-friendly schemes as after demonetization, real estate was one of the major sectors among many to be harmed by the cash crunch. Nevertheless, now as the cash flow in the bank is back to normal, the pace of remonetization has grown up faster than it was actually expected. Again, realty market in India has witnessed some big reforms like Benami Transactions Bill, RERA, or GST which are directly aimed at giving the sector of residential spaces transparency and more credibility.
It has been clearly seen in the country that a big investment like gold or property is considered more sentimentally than economically. Therefore the festive occasion added on to the sentiments and increased the sale to next level. Gudi Padwa, which marks a New Year in Maharashtra saw a huge increase in the sales as well as the new launched by reputed builders and developers of the state. Many people book their new homes or host housewarming parties in this occasion. Thus, Maharashtra real estate defines it as its level best on this day.

Increasing residential demand in the Silicon Valley of India, Whitefield

Posted on March 20, 2017 by drishti

As it is known that there is a large workforce employed in the area of Whitefield, and preferring to live in the vicinity, is increasing up the demands for residential options here for the comfort of the employees.
Once known as a secluded area of Bangalore to the Silicon Valley of India, Whitefield’s story was shaped primarily by the IT Hub revolution that changed the sleepy landscape with Asia’s first tech park which rose up in 1994.
The excellent development that took place in Whitefield and the EPIP zone have seen over the years seems like a page of a fictional book with a perfect ending. Mammoth towers in glass and chrome stand tall amidst natural greenery which has been long preserved by the developers of these MNC acquiring most of the Bangalore properties especially in Whitefield. Many hitherto heavy manufacturing factories have given a big hand to making this a wonderful place with a lot of infrastructural possibilities and residential flats in Bangalore.
It is no wonder that after all these factors these localities in the vicinity of these ultra facilitated tech parks have largely begun to mushroom into elite gated communities of residential buildings. Villas the high priority choice by the people who want to live here and work in these high-end vicinity of business parks.
While the ITPB has singularly driven the demand for residential property options in its vicinity, the other tech parks and business parks in the EPIP zone too have drawn a high demand for housing options ranging from mid-segment apartments and high-end homes enclosed within well-appointed gated enclaves, to villas and plots.
A member of the committee, Jain has stated that Whitefield, Electronics City, and the EPIP zone was a major initiative taken by the government to create the place into something better which eventually turned out to be called as the Silicon Valley of India with a number of reputed Multi Nationals setting up their base here. This is also increased the demand for high-end flats and villas by the people who come here every year from all over the country to earn their lavish living.

Ghaziabad Growing its Infrastructure

Posted on March 12, 2017 by drishti

Ghaziabad is popular for serving to the mid-segment and affordable housing segments. The very known housing clusters such as Kaushambi, Vaishali and Indirapuram are now a major part of Ghaziabad property in terms of increasing the real estate. Apart from this, the new upcoming residential locations include Raj Nagar Extension, and other areas along NH-24 which are beyond Indirapuram, and incorporates Crossing Republic Township.
The only thing bothering the developed locations is the lack of space for further high-level development. These places majorly include Kaushambi and Vaishali. The 1BHK Flats in Ghaziabad are now available to meet all the residents and is expected to have a healthy capital appreciation. The recent projects mostly kept its focus on upper-mid and premium segments offering them new upgradations which were beyond anybody’s expectations. The affordable residential clusters which are mostly 1BHK Flats and located in Raj Nagar, Shahibabad are in the average price range of INR 2,200-3,500 per sq ft. The upper end of the range is commanded by projects which are fully completed or nearly ending its construction in Crossings Republic, whereas the newly passed projects in NH-24 are in the lower price band of INR 2,200-2,600 per sq ft. The Raj Nagar Extension corridor on NH-58 is has a price range in between INR 2,600-3,000 per sq ft range.

Greater Noida real estate to work more on affordable housing

Posted on March 2, 2017 by drishti

The Real Estate’s new Union bill spells happiness for Greater Noida homebuyers, as the recently rectified budget will give more powers to those who want to buy plots in Greater Noida and will also keep in mind the concerns of the builders to a major extent. The Real Estate Regulatory Bill directly aims at bringing transparency in the real estate sector. However, the announcements were being planned from a long time but the finance minister made the right time to announce all of it with the Union Budget of 2017. However, after demonetisation, this area has more supply for residential units and less investors but after the affordable housing schemes it is turning out to be the opposite. Most of the housing units sold in Greater Noida now have a lot of takers but have less supply. Therefore, after taking some major steps a mega plan has finally been sorted out to cater affordable housing for all till 2022.
The budget is expected to establish state level regulatory authorities RERAs with whom developers have to register projects above a certain size. If this will not be carried out, the builders will have to pay major fines. The developers will now state all facts like possession dates, construction quality facts public on their websites so as to give clearer picture. The developers will have to focus more and more on the affordable housing. They will now be providing 3bhk flats in the price of 2bhk.
All these new rules are expected to set transparency in greater Noida properties. The Big Impact is that this will prompt homebuyers to purchase property without the fear of being cheated. This will bring in more creditability to investors and the belief to invest in the real estate sector. This will also give a clear legal recourse in case of any dispute or delay in the construction.
This has helped people who were interested in buying in Greater Noida as with this law the problems of the dust made by demonetisation will settle down and more over the development which tends to cater the needs which was stalled for a long time is finally getting its breath back. This is helping the Greater Noida real estate sector to become more transparent and the work has finally resumed and the building which were left unreconstructed the last quarter, are now coming to an end to supply its consumers their dream home.

Godrej Properties to Raise Rs.700 Cr, Targets Growth

Posted on May 10, 2013 by designer

Godrej Properties, the real estate wing of Godrej Group, has announced its plan to raise Rs.700 Cr. The fund will be raised through rights issue.

MUMBAI: The real estate wing of Godrej Group, Godrej Properties, has announced its plan to raise a fund worth Rs.700 Cr. The fund will be fully utilized for developing its new projects. Godrej Properties plans to raise the fund through rights issue.

Aiming growth and for developing more number of realty projects, Godrej Properties plans to raise Rs.700 Cr through rights issue. Continue reading →

Property Investment, a Good Marketing Trick?

Posted on April 30, 2013 by designer

As the builders are not able to find sufficient number of buyers for their projects, now they are coming up with options of property investment.

Sluggishness has spread its shadow on residential market. Home sales are falling down as there are no property buyers. What could the developers do to boost the buyers’ sentiments? Here we see how they are promoting their projects under the banner ‘best option for property investment.’ Continue reading →

No Property Buyers, Realty Developers Troubled

Posted on April 26, 2013 by designer

Due to the sky reaching property prices, no property buyers turn up anywhere. As property buyers remain reluctant to buy out properties, the developers are struggling to offload their unsold properties.

The developers would not have imagined that the sky reaching property prices will have as disastrous as this. Many of the builders now have unsold properties at their hand as they are not able to find any property buyers. Continue reading →

Vasundhara Enclave Fails To Attract End-Users

Posted on April 23, 2013 by designer

Though Vasundhara Enclave has every potential to attract the end-users, it fails to do so. Weak demand for housing units proves this.

DELHI-NCR: Though Vasundhara Enclave Delhi has been expected to become one of the hot residential locations, it still remains as an unpopular residential destination. Property prices are remaining more or less stable. Continue reading →

Suburbs, better for long term investment

Posted on March 11, 2013 by designer

The growth of suburbs into cities assures better options of returns from the investment in these areas. Property investment in Suburbs is expected to be more attractive and productive than investing in metro cities.

Invest in suburbs for longer periods, to gain better returns.

The growing demand for housing units has asked the real estate developers to develop more housing units outside the metro cities. Suburbs around all metro cities like Bangalore, Chennai, Delhi, Kolkata or Mumbai, or any other emerging cities, have seen spectacular growth.

Growth of these new corridors has provided the investors new options. Yet, the investors must approach such locations with a perfect view of investment. The tenure of investment is one of the main factors, that each investor should be careful.

It is never advisable to have in investment for shorter periods in any of the suburbs. If you plan to invest in any suburb, you should plan to invest for a quite longer time- so to say minimum three to four years.

On the other hand, the metro cities and other tier-I cities are more preferable for short term investment. If you invest for a short term also you will be able to gain bigger or higher returns. This is because the property prices are rocketing in all these cities. Moreover the growth potential of these cities is limited. This will assure sustainable returns to all the investors over the time. Continue reading →

Domestic Demand Drives the Growth of Tier-2 Cities

Posted on February 27, 2013 by designer

Tier-2 cities of India have been witnessing a stabilized domestic demand for residential as well as commercial properties. In fact the domestic demand drives the growth of tier-2 cities.

Tier-2 cities will grow as a result of domestic demand and not on foreign or NRI investors.

Unlike the big cities which witness the demand of NRIs and other HNIs, the smaller cities or tier-2 cities are growing due to the domestic demand for residential and commercial properties. Property prices in these cities are more stable and not rocketing as in the other major cities.

When surveyed among the occupants of tier-2 cities, majority of them opined that the property prices will stand stable in these cities. However a few said that the property prices will be increasing by 70% by the next year. Continue reading →

Housing Sector Likely to Have Infrastructure Status

Posted on February 21, 2013 by designer

Aiming to provide affordable homes to all the people, the union government is seriously pondering over the matter to confer infrastructure status to the housing sector.

Housing sector is likely to gain infrastructure status soon.

Economically poor and weaker sections of people are on the verge to own a home in near future. This will be possible for them if the union government confers the infrastructure status to the housing sector.

The decision is believed to be taken in the upcoming budget session of the parliament. However the matter is under the consideration of the Finance Ministry and Reserve Bank of India.

A senior official with Ministry of Housing and Urban Poverty Alleviation (MHUPA) said that it is likely that a favorable decision is taken on the matter. The official added that the ministry is planning to offer some income tax exemptions and service tax reductions to the housing sector.

Conferring infrastructure status is believed to boost the housing sector as it will provide easier access to funds. As a consequence, the availability of houses also will be increased simultaneously.

A recent study on the urban housing shortage revealed that in 2012 nearly 18.78 million housing units were short in India. A major share of the shortage was in the medium and low budget housing units.

Housing sector may get infrastructure status in the coming Budget session.

The supply of housing units in the economically weaker section and lower income group fell sharply. The former witnessed a shortage of 10.55 million housing units while the number of the latter was 7.41 million.

The shortage cannot be mended by the government but only by the private developers who find it all the more difficult to construct cheaper homes due to the increased cost of construction. The land also has become so costly that added the cost of construction. Increase in the interest rates also affected the property prices.

The developers have been demanding for infrastructure status for the housing sector for a long while. MHUPA also raised the demand for the same. Conferring the infrastructure status to the housing sector will boost housing sector and the builders will be benefitting from this as it will enable them to own some tax exemptions and other tax benefits.

Bollywood Loses Multiplexes Due To Sluggish Realty Market

Posted on February 16, 2013 by designer

Due to the slowdown in the realty market, Bollywood missed many multiplexes which were supposed to be completed by now. It affected the entire Bollywood industry.

Revenue of Bollywood movies affected as number of multiplexes are lower.

Revenue of Bollywood movies is affected as number of multiplexes are lower.

Bollywood film industry is affected by the sluggish realty market which has halted many mall projects. It is estimated that around 150 multiplexes across the country has not been completed in time due to the slowdown in the realty market.

It is a bad news for any Bollywood fan to hear that real estate market has indirectly affected the Bollywood industry. If the developers are not developing multiplexes, where will the Bollywood movies be shown and the people will be able to watch them. So in short the slowdown in the real estate sector has affected Bollywood, though indirectly.

In India, majority of the multiplexes which contribute a major share of film’s total collection, are built in malls. Once the mall construction has been halted by the developers due to the existing slowdown, the film industry also is affected. According to experts, Bollywood industry might have lost over 150 multiplex screens which would have generated more income to the industry. Continue reading →

Real Estate Bill Likely To Protect Flat Buyers

Posted on February 14, 2013 by designer

Real estate bill is likely to protect flat owners and prospective buyers from the unethical and unscrupulous builders. The real estate bill is expected to be presented in the upcoming parliament session.

Real estate bill will give new horizon to real estate industry

The prospective buyers can rejoice finally. They have got a reason to do so as real estate bill is expected to be passed in the upcoming parliament session. It is expected to restrain the unethical and unscrupulous builders from looting the flat owners and buyers.

In the opinion of the experts, harsh and corporal punishment to the builders for fraud behaviors will remove all unethical and unscrupulous practices from the industry as a whole. Real estate sector looks so fine and attractive from outside as it gives new shapes to the cities.

However once the real estate bill is passed, the real estate developers may not be as happy as they used to be. The new real estate bill has provisions to punish the unscrupulous builders for proved fraud behaviors in the industry. Though the builders have demanded for monetary punishment in place of jailing, the decision has not yet been taken. Continue reading →

Real Estate Sector Wants FM To Lower Costs Of Finance

Posted on February 11, 2013 by designer

Real estate players of India hope that Finance Minister’s upcoming budget will bring down the costs of finance for the construction sector. Finance minister is likely to announce new Budget which is expected to boost the real estate sector on February 28.

Real estate sector wants Financial Minister to lower the financial costs.

Real estate developers expect that the new budget which the Finance minister of India will announce on February 28 will contain provisions to boost the real estate sector. Builders and other realty players expect the cost of finance for the construction will be brought down by the new budget. They demanded that it will be enabling them to provide housing units at lower costs.

Real estate developers are also hopeful of faster clearance for their projects. Many at a time, the delay takes place due to the longer time taken for gaining the clearance. The delay in gaining clearances leads to delayed deliveries. Further the cost also gets accelerated in meantime, developers claimed. All these affect home buyers onto whose shoulders the additional cost is loaded. Continue reading →

Ghaziabad -Gr Noida Link Rd To Boost Realty In Ghaziabad

Posted on February 7, 2013 by designer

Realty market in Ghaziabad is likely to grow with the arrival of new 22 Km –long link road connecting Ghaziabad and Greater Noida.

Ghaziabad to see real estate growth with the launch of link road.

Ghaziabad will witness the growth of realty in the city. This is made sure with the resume of construction of the Ghaziabad – Greater Noida link road. The 22 Km –long link road will connect the city to the Zeta sector.

The proposed link road is expected to reduce the commuting hours. Further it will take away the amount of traffic on NH-24. As connectivity plays a greater role in any of the area’s real estate development, the builders are already planning to develop projects in this link–road corridor. The area falls under Ghaziabad Development Authority. Continue reading →

Top Property Investment And Home Destinations In India

Posted on February 6, 2013 by designer

Many cities are emerging as hot destinations for property investment in India. Here we have shortlisted a few property investment and home destinations which provide better returns to the investors.

Top destinations that provides better returns for your property investment .

Chembur, Ulwe and Wadala in Mumbai are three most-promising property investment and home destinations. These areas are noted for its improved infrastructure and job-generation capacity.

Noida-Greater Noida Expressway, Yamuna Expressway and Noida Extension are three top destinations in the National Capital Region. These areas offer better price appreciation to the investors. So they remain top destinations for property investment as well. Continue reading →

Vadodara’s Vacant Properties? RTI Reply Invites Mix-Up

Posted on February 4, 2013 by designer

An RTI reply stated that Vadodara has around 1 lakh of vacant properties. The RTI reply is considered as an alarm-bell for the real estate sector in Vadodara.

Sunset scene from Manjalpur Bridge in Vadodara: Confusion arises over the number of vacant properties.

According to an RTI reply, over 1 lakh of properties remain vacant in Vadodara. Meanwhile there appear no takers for the property, it added. The RTI reply which revealed that there are over 1 lakh vacant properties in Vadodara has been considered as a warning- sign for the real estate sector in the city.

RTI reply was made by the Directorate of Census Operations, Gujarat, to a native of Vadodara. A copy has been sent to the Vadodara Municipal Corporation as well. The RTI reply clearly stated that over 1 lakh properties, precisely 1.02 lakh, were vacant in the city. Continue reading →

Property Prices Will Remain Stable; No Chance For A Fall

Posted on January 31, 2013 by designer

The situation seems impossible for the property prices, especially in the metro cities, to fall downward in near future or ever. Will there be a price correction, sooner or ever?

Property prices will remain stable; despite no takers are around.

The situation in India shows that there will not be a fall of property prices, especially in the metros like Bangalore, Delhi, Mumbai or any other metros. Though everyone wishes a fall in the property prices, it is almost impossible to happen, neither in the near future nor in the longer- future.

Developers have taken loans from the banks and housing finance companies. Some of the builders have even taken loans from private equity firms which normally lend loans at 25 to 30 %. Still, builders are forced to cut down prices as many of the projects remain without any demand as buyers’ sentiment has been hurt by the sky rocketing property prices. Continue reading →