A Leading Real Estate Website in India Laments Homebuyers Plight Against Builders

According to a leading Real estate website in India, a pan India homebuyers pressure group has made a recommendation to the government that it form a solution similar to the one it created for Satyam Computer's bankruptcy and sale in 2009, but, today for builders. According to this pan India group of homebuyers builders are in the process of deconstructing their companies with the goal of leaving them bankrupt once the RERA is in force. Many in this pan India group of buyers have invested their life saving with builders and are appealing to the government to offer them reprieve.

Builders Alleged Pre RERA Rollout Antics

The "Fight for RERA" group, as the pan India home buyers group is called, has written to the PM of India and stated that numerous builders are laundering money and are stripping their companies of assets in an attempt to enrich the builders and leave their companies bankrupt.

Fight for RERA claims that time is of the essence in this matter and any delay would leave homebuyers permanently in a lurch as they believe that the builders companies will be hollowed and unable to complete any project.

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Dishonest Builders be Given Satyam Treatment

For the reasons mentioned the homebuyers group feels that the government should take action against dishonest builders in a manner similar to that taken against Satyam Computers in 2009 when the government reconstituted Satyam's Board of Directors with new members. The new board of Satyam in 2009 oversaw the transition from the earlier owners, the Raju's, to the Mahindra Groups Tech Mahindra. According to one real estate website, Tech Mahindra acquired the then Satyam Computers through a global competitive bidding process and later through an open offer on Satyam.

Fight for RERA Lament's Current Inaction

According to a some leading real estate websites and portals, Fight For RERA has stated that despite the activism from homebuyers, orders and directives from various authorities and courts, builders with unfinished Property in india do not as yet feel the heat to complete their projects. Hence Fight for RERA has pleaded that the Judiciary and Executive should work in tandem to compel rogue builders to fall in

5 Indian Real Estate Facts Every NRI Investor Should Be Aware Of

Indian real estate market is one of the most profitable investment ventures. Though there are ample other choices including the stock market, mutual funds, and gold, but real estate seems to be one of the best options. Not just investors from India, but from all across the world find Indian real estate market a profitable venture. NRI investors make a lot of money every year by investing in property in India. They invest both in residential as well as commercial projects to get a high return on their investment.

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With so many improvement and new regulations, the government is further making the market more suitable, transparent and profitable for NRI investors. If you are also in NRI and looking for a perfect property in India, you should first have knowledge of some facts related to Indian real estate market. Just have a look at five important facts to get the best from realestate in India.

1. Permissions

NRIs have got permission from the government to invest in any residential or commercial project in India. They don’t need any special permission from RBI or any other government body to buy immovable property except agriculture land.

2. Formalities

As an NRI investor, you need to fill and submit a declaration form IPI 7 with the central office of the RBI. You need to submit the form within 90 days of the date of purchase of immovable property. Make sure you submit the form along with a certified copy of transaction and the bank certificate as evidence of payment.

3. Loan

NRI investors who don’t have enough money to make complete payment for a project are allowed to apply for a loan from any Indian bank. Many banking organizations in India have got permission from RBI to provide a home loan to NRI investors as they provide for Indian property investors. Some of the best property sites in India also provide a list of these banks to help investors find the right bank to apply for a loan.

4. Gifting property

Foreign nationals of Indian origin are allowed to gift their property or to get the property as a gift from their relatives up to the limit of two houses. So, if you want to dispose of your property or want to get a new home, you can opt for gifting choice.

5. Payment methods

As far as payment options for the NRI investors are concerned, they can pay for the property through inward remittances in foreign exchange, through general banking channels and through funds from NRE/FCNR accounts.

If you are an NRI investor seeking a right investment in Indian real estate, it is better to find properties websites dealing with NRI clients.

For more Information click here: real estate blogs

Essentials of MIG Housing According to Established Property Websites in India

According to numerous property websites in India, mid-Income Housing in India can only be successful if such properties are in favourable localities. According to such property websites, in the past, many projects targeted to middle-income households failed because such projects fell short of meeting certain essential criterion. This real estate website will delve into greater detail concerning what criterion are essential for success when building for middle-income households and the importance of the fulfilment of this criterion to middle-income households.

A Good Location

A middle-class family in India would like to enjoy all of the trappings of middle-class life. This includes being well connected with the rest of the city and having easy access to education and entertainment vistas. A middle-class home that is in a secluded region is unlikely to find favour with middle-class households since middle-class families usually comprise of at least one or two children and the parents of such children would like their children to attend school nearby, not across town.

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Most middle-class families in India have at least one parent who works and he or she would like to be able to commute to work and back with ease. Hence builders who have constructed properties in India which they intend to sell to middle-income buyers should ensure that the house is located in close vicinity to an employment hub. Technology parks are among the most sought after employment hubs for the middle class.

The saying all work and no play makes Jack a dull boy proves doubly correct for children. Entertainment vistas are crucial to enjoying a high standard of living and access to sports fields and malls is important to be physically fit and abreast with the latest trends.

The Price Should Be Right

According to most real estate sites in India, the pent-up demand for mid-income housing in India ensures that most supply will eventually be absorbed. The excess supply in this segment is measured in months, not years as most units are expected to be sold within a few months. However, the price of such property in India should make it attractive to middle-income buyers and such homes, in the end, should not be priced so as to make them appear to be daunting to MIG households. A lesson to learn is that the Mig market segment is driven nationally by end users, not investors.

A Brisk Completion Timeline

MIG properties in India should not have a very long term completion horizon, this has in the past wreaked havoc in the lives of middle-income households who at times have had to wait for years to occupy their new home while they have simultaneously paid rent to live in another home. According to this property website, timely delivery by builders makes such projects all the more attractive to MIG households.  

Why this is perfect time to invest in property in India?

Have you been planning to buy property in India for long? For those looking for a suitable property at affordable prices in India, this is the best time to step ahead with their decision. Average property prices in the top eight cities in India declines steeply in 2016, giving investors great opportunities to park their money.

As per the report from leading property consultant Cushman & Wakefield, the ticket size of new launches across top eight cities reduced by 14% year on year. Apart from this, expectations of changes in prices of new units have also been made as most of the developers are planning to reduce the effective ownership cost to boost the sale of their inventory. They will enhance the affordability of new units either by offering attractive discounts or smaller units. Many real estate sites in India have already started flashing attractive discount offers on different projects.

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To draw the attention of home buyers as well as real estate investors, many developers has started improving their marketing strategies. To bring down the number of unsold inventory, they are reducing the effective cost of the property and restricting new launches. As luxury and high-end segment got hit worst from demonetization, the developers are rationalizing this segment the most.

If you check property site in India, there will be very limited number of new projects for builders are postponing their new launches due to uncertainty in the market. Contemplating the market dynamics, with just 1,13,000 units, the number of new housing units declined by 11%. With just 12,000 units, the high-end segment was affected the worst while the middle-income segment accounted for 56% of total unit launches and value housing saw 32% new launches.

For developers, the residential market might be frozen, but for property investors, this is really a great opportunity. They should take advantage of the price drop and buy a suitable property for high capital gains when the market improves. Best property websites in India help investors as well as end-users by regularly updating their blogs with the suitable properties in different cities.

Projects which have already been launched and have unsold units make a perfect choice for the investors to park their money. Just look for the developers offering discounts or other schemes and grab the opportunity.

Builders Seek New Sources of Financing for Affordable Property in India

Affordable property in India may have received a new champion in the form of the CREDAI. The confederation of Real Estate Developers Association of India has stated that banks, as well as housing finance companies, should support builders in the country when such builders undertake the construction of affordable housing in India. The reason that the CREDAI has sought the help of banks and other lending institutions is that the CREDAI feels that affordable projects are a low margin business which requires cheap capital to earn to profit for builders.

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Interested in Building Affordable Homes

The government announced in the budget that affordable homes shall now be counted among infrastructure projects; meaning that builders in India would be able to take loans at lower rates if and when they decide to build affordable projects.

Views Recently Expressed

The president of the CREDAI’s NCR chapter has stated that due to the increase in interest in affordable housing and for builders to meet the target of affordable housing for all by 2022, builders shall require greater assistance and help from banks and other lending organisations to make it profitable to build and sell affordable houses. In other words, the CREDAI’s believes that due to low profitability margins attached to the sale of affordable housing, CREDAI requires special facilities from partners such as lenders and financing institutions to fund the construction of affordable real estate in India.

It has been remarked on Indian real estate websites that great attention today is focused on an affordable realestate in India. To make possible the dream of housing for all within 5 or 6 years will requires a mammoth construction of houses, firstly, however, building and selling affordable housing at a profit will only be given impetus when it is thought feasible by builders and developers.

The NCR Chair of the CREDAI Chapter has stated that developers will comply completely with the definition of what is an affordable property and what property does not fall in the affordable segment. Hence according to some property sites in India, builders will not classify mid-income or other higher end projects as affordable projects in an attempt to receive funds at rates that are more favourable such projects.

Conclusion

A white paper by a leading real estate consultancy has remarked that many propertiesin India may be built by capital from institutional investors. Financing of many properties in India shall shift from its current informal source to more a formal and transparent source.  

The Pressing Need for More Property Websites in India

The sheer number of property websites in India should be far larger than it is today. Real estate websites present today cover only a fraction of the properties or real estate in India that can be bought or sold. Just as large developed countries have thousands of banks (the US has over 10,000, India has less than 100 commercial banks), there is a need for much greater buying and selling of real estate in India and hence many more real estate websites are needed to serve a market that is semi formal or informal.

Understanding Indian Realty

A large number of middle class Indians who live in large cities own their own homes; the number of such estimates would be difficult to arrive at yet a balanced assessment would be that most middle class Indians own their own house in large urban centers. Additionally middle class Indians often also own property in their ancestral home; for instance property in India is still evolving and many household that are regarded as poor in cities are often wealthy landowners in their villages. Most of this rural or semi rural property is never listed and few online portals aggressively cater to those who are eager to buy or sell their ancestral home or agricultural land.

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Who Buys Ancestral Land

Currently many of those who dispose of their agricultural land sell it to local developers or to large developers if the property is near an expanding urban center. The need for real estate websites in India that cater to the buying and selling of such property is sorely needed. Most transactions of ancestral land are conducted locally yet this deprives the sellers from attaining a fair price or prevents a buyer from paying a fair price as well. Such deals are yet unregulated and deals are often brokered rapidly before one or the other party changes his or her mind.

Regularization of the Rural Market

The need to sell such property in India using real estate websites is crucial, as many Indians need to be brought under the formal economy. India, a country of over 1 billion has less than 100 banks whereas the USA with only four hundred million people has over ten thousand. Just as India has fewer banks it also has too few real estate websites and which, once they are operational will bring a protective shield over rural real estate transactions and make such deals part of the formal economy.

   

Real Estate Industry Reactions on Union Budget 2017

"We should welcome the way that the legislature is intense on the mission of 'Lodging for All' and in a similar light we have seen some to a great degree positive declarations in the spending today. The land business thanks the legislature for comprehension the need to empower proficient supply of lodging stock in the nation.

Reasonable Housing has been pronounced "Framework" with all its related advantages. Extra renegotiate of INR 20,000 crore from NHB and lower loan fees coming about because of expanded liquidity in the saving money part would add to the assets for the segment at lower expenses to a definitive customer. The new Credit-Linked Subsidy Scheme for Middle Income Group with allotment of INR 1000 crore in the financial plan for 2017-18 reported. Here as well, the legislature has demonstrated astuteness in trying to empower the home purchaser to get to less expensive capital.

Long haul capital increases tax cuts on lodging which could be benefited following 3 years has been conveyed down to 2 years. Real estate area as an advantage class would pick up as a store of significant worth. This is an amazingly uplifting news for land financial specialists as they can book benefits by paying an absolute minimum wage charge toward the finish of two years just on benefits earned from offer of property site.

"The Budget 2017 extensively focussed on the rustic economy, foundation, moderate lodging, business, advanced economy and monetary teach. We trust that it is a genuinely adjusted Budget. The choice to put resources into country ranges, framework and destitution mitigation while keeping up monetary combination is to be extolled."

Real estate:

"The Budget, has somewhat tended to one of our long-standing requests of giving framework status to the land part by declaring foundation status for reasonable lodging area. Obviously this will boost real estate development to concentrate on moderate lodging which is the place the most extreme interest for homes lies. An industry status will help designers in getting to capital at lower costs. The declaration to cancel Foreign Investment Promotion Board will make it less demanding to get remote financing through the programmed courses. Tax exempt benefit for a long time for moderate lodging designers will give more opportunity to manufacturers to complete undertakings. The administration has re-imagined "moderate lodging", which is vital in a nation like India with shifted markets.

The property websites in India are providing enough information for the growth of the market. The best property websites in India are having information, which is essential for the growth of the market. There is potential information available on the best real estate websites. In fact, the best property in India is available in the market wherever it is necessary.

Real estate developers holding a lot of land stock will get some rest with the diminishment of long haul capital increases charge period to two years from the past three years. The administration's declaration to assemble 1 crore houses for the poor by 2019 alongside the assignment of Rs 23,000 crore for Pradhan MantriAwas Yojana will convey the nation nearer to acknowledging "Lodging for All" mission by 2022."

Foundation and development:

Foundation is a need for this administration. We have seen this reflected in the current year's Budget also. The assignment for framework is considerable at over Rs 3, 90,000 crore. It has given Rs 2.41 lakh crore to transport area, including railroads, street and delivery. Designation for national expressways has been ventured up to Rs 64,000 crore from Rs 57,676 crore. Higher interest in framework is genuinely necessary and will goad monetary development.