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#Land Purchase and Sales In Kolkata
ideasengineering · 2 months
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Unlock opportunities in Kolkata's real estate market with Cognian Home Solutions. As your go-to Land Purchase and Sales Provider in Kolkata, we offer expert guidance and seamless services for your property transactions.
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gssoftwareposts · 24 days
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Real Estate Property  Investment Guide for First-Time Buyers
The prospect of owning property is a significant milestone, but the process can also be complex, involving many steps, decisions, and financial commitments. Whether you’re looking to buy a home for personal use or as an investment, understanding the ins and outs of real estate is crucial to making informed decisions. 
This investment can take many forms, from buying a home to live in, purchasing rental properties, or investing in commercial real estate. For first-time buyers, the focus is often on residential properties, which can either be used as a primary residence or rented out to generate passive income.
Before diving into the real estate market, it’s essential to understand your goals. Are you looking for a home to settle down in, or are you more interested in building a portfolio of rental properties? This property-buying guide will be of immense help to you. 
Prepare a Budget
Buying property requires a significant upfront investment, including the down payment, closing costs, and other associated expenses like property taxes, insurance, and maintenance. It’s crucial to clearly understand your budget and financing options before starting your property search. 
A general of thumb is 28/26 rule. This rule says your mortgage should not cost more than 28% of your gross monthly earnings. 
For most first-time buyers, securing a mortgage is necessary. Lenders typically require a down payment of 20% of the property’s value, but various loan programs may allow for lower down payments.
Hire a proper Real Estate Agent
The trick to finding the right property is hiring a professional real estate agent near you—an agent with experience with property types, price points, negotiation skills, and negotiation skills. 
A tip here is to interview real estate agents based on approach, experience and mode of communication as this will enable you to choose the right one for you.
Agents have different specializations for example, they can specialize in residential, commercial, land and so on. 
Legal Documentation
When it comes to buying property for the first time, certain legal transactions need to be fulfilled for first-time home buyers guide.  Legal considerations involve verifying the ownership of property and title ensuring it is free from legal disputes. Here is a list of legal documentation you need to get familiar with ‘
Sales Deed- This includes the proof of ownership and transfer of the property’s title from seller to buyer.
Possession Letter- Created by the builder with an occupancy certificate to specify on which date the buyer will/has taken possession of the property.
Khata Certificate- This certificate verifies the owner's identity for tax payment while investing in new property as a home buyer in Kolkata. 
Power of Attorney (POA)-  this grants the authorisation to the person (real estate agent) to act on behalf of the buyer in property-related matters. 
No Objection Certificate- This certificate acts as legal proof during transactions like mortgages, sales, gift deeds and so on. 
Payment Receipts- the receipt is proof that the buyer has paid the sum of money to the developer/builder. 
Compliance Under RERA- A home buyer should verify if the new property is RERA registered or not. To make the property selling operation smooth one needs to ensure properties are registered with state RERA.
Complete Ongoing loans and EMIs Payment
Investing in a home is one of the biggest assets and transactions you will ever make. If you are planning to take a home loan,  it is advisable to clear ongoing EMIs before possession.  Closing a loan early or prepaying of loan to substantially reduce the interest component of a home loan. 
The principal amount gets repaid faster helping you to close your home loan earlier than you expected. Micro prepayments get auto-debited from your bank and this is the best option to repay the loan. 
Get Approved for Mortgage 
The first-time property buying guide for getting approved for a mortgage typically spells how much you are qualified to borrow. 
Compare mortgage loan offers by getting free quotes from lenders to get an insight into the desired loan amount, down payment, rate fluctuation so on from real estate companies like Rai Real Estate. 
Location and Transport 
Quality of life depends on a good location with easy transport to work. Buyers usually want to buy properties that have convenient grocery stores, hospitals and schools nearby. 
The location gains importance if it is easy and time-efficient to commute using public transport car, bike, metro or even walking distance. 
Future Property value escalates when transport is budding and functional. 
Considering Buying a Home?
Rai Real Estate is here to guide you with property buying if you are a first-time home buyer. With a deep understanding of the property landscape, they will walk you through every single step-by-step guide on how to buy property for the first time. 
Knowing local residential areas will help you craft a budget that just doesn't work but helps you save more on property. 
Dont just Buy homes- buy smart homes with smarter investment solutions with Rai Real Estate and Marketing. 
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torbitconsultants · 2 months
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South Tops in Faster Project Completions
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As the use of modern construction technology in large under-construction residential projects gains momentum, southern cities get top honours for speedy project completions.
In the backdrop of combined effect of RERA, use of construction technology, and the increasing market share of large and listed developers, the last decade (2014-H1 2024) has seen homebuyers’ wait for possession in large under-construction projects in the top 7 cities reduce to 4.9 years, from 6.1 years in the 2010-2019 period.
According to Anuj Puri, Chairman, Anarok, the latest Anarock data reveals that the average time to complete large residential projects of 500+ units in top 7 cities clocked in at 4.9 years from 2014-H1 2024, from 6.1 years in the preceding decade. Large and listed players account for nearly 34 percent of the market today. The stringent rules imposed on project delays by the regulatory authorities have also been a key factor in reducing the completion time.
All projects launched and completed between 2010-2019 and 2014-H1 2024 in the top 7 cities were analysed in the study, and were further segregated into developments with less than 500 units larger ones with over 500 units.When it comes to completing large projects, the top southern cities were markedly ahead of their northern, western, and eastern counterparts. For all large projects launched and completed between 2014 and H1 2024, the average completion time was lowest in Chennai with 3.6 years, while Hyderabad and Bangalore clocked in at 4.2 and 4.8 years respectively.
“For most large projects in NCR and MMR, developers had purchased land outright, thereby compromising their overall financial health and delivery capability,” says Puri. “On the other hand, most projects in the main southern cities are joint developments where landowners usually get a certain share of the developed units. In NCR, extreme weather conditions and the statutory restrictions imposed on construction during spike in  pollution levels also have an adverse impact on construction timelines in the region. Most developers have gradually reduced their leverage and with stronger financial conditions, are able to focus on execution.”
It is noteworthy that at 36 percent , Chennai has the highest reduction of construction time among the top 7 cities, despite incessant rains during the monsoon season causing major challenges..
Small & Large Projects: Completion Trends (2014-H1 2024)
The average time taken to complete smaller projects of less than 500 units in the top 7 cities was 4.0 years, and 4.9 years for large projects of  more than 500 units each.
In Kolkata, large projects launched and completed between 2014 to H1 2024 took the longest average time of 5.7 years to complete,
In MMR, it took an average of 4.7 years to complete small projects, and around 5.2 years for large projects.
In Pune, the average project completion time was 4.3 years for small projects, and 5.4 years for large ones.
In NCR, homebuyers waited an average of 4.7 years for small projects and 5.4 years for large ones.
In Chennai and Hyderabad, the average completion time for small projects was 3 years and 3.1 years respectively, and 3.6 and 4.2 years for large projects, respectively. In Bangalore, it was 3.5 years for small projects and 4.8 years for large ones. As larger projects gain momentum across the cities and new construction technology is implemented, construction time will reduce further. Continuity of execution across major projects is becoming a major factor with financially sound developers whose sales volumes have enabled continued cashflows.
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anukumariime · 2 years
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Commercial plot for sale Hyderabad
This website appears to offer commercial plots for sale in Hyderabad, a city located in the southern part of India. These plots may be suitable for individuals or businesses looking to purchase land for commercial development, such as for constructing a shopping center, office building, or other commercial property.
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How to Sell Your Company's Services And Products Online?
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You can now run your business online with the help of pay per click services in kolkata. A perfect marketing strategy can be just the winning stroke you need. Read more here. 
Technology advancements in recent years have increased e-popularity commerces like never before. And while the concept of purchasing and selling physical goods online is well-known to everybody, it is also becoming typical for companies to sell varied services. 
According to a web development company in Kolkata, online service sales can be a profitable source of income that spares you the trouble of keeping inventory on hand. Selling services online doesn't have to be difficult, regardless of whether you're an authority in a certain sector or have a service you can sell without making a large investment. Anyone who can offer customers something worthwhile can sell services.
Identify your target market and niche.
No company can serve all customer's needs, so as you get ready to start selling online, consider how your products or services fit into the market and how you may differentiate yourself from the competitors. Spend some time reflecting on your past experiences, talents, top priorities, and objectives.
If you manage an agency, for instance, you can try to attract as many potential customers as you can by providing a variety of fundamental services at reasonable rates.
Take an audience survey
There are numerous opportunities to aid in your understanding of your audience's wants. Digital audience involvement has never been easier because of social media, public forums, and live streaming.
Establish and launch your internet store
You need an online store in order to sell services online. Thankfully, building an online store doesn't require you to be a skilled web designer or developer. When you're ready to start selling, you can design and install your website using an online website builder. Once your website's basic design is complete, you can start building the service pages that new users can register for. To highlight the various design features, you need also to include additional design components, such as a logo, pictures, and videos.
Creating a landing page
You only have a little window of opportunity to grab a potential customer's attention once they get on your website, so it's critical to create an engaging site packed with pertinent, helpful material.
Drive traffic to a landing page that puts emphasis on content and images that specifically cater to the demands of your target demographic. Thus, a reputed ecommerce development company in kolkata will give you the correct insights into designing a customized landing page.
Describe your offerings
There are several ways to present your services to your target market once you're ready to sell. Select the strategies that are most appropriate for your brand and target market. Your objective for each platform should be to get visitors to visit your website and subscribe to your email list so you can build a relationship and eventually increase sales.
Final Words
Are you prepared to start offering services online? Make your website and landing pages using the help of AGTS, the best digital marketing agency in kolkata. You can start selling your services right away if you have a fantastic idea and web design and development skills.
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maheshsomani · 5 years
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CREDAI seeks dissolution of stamp duty on landed properties after GST implementation
CREDAI has appealed the state governments to abrogate stamp duty on landed property to dispose of multi-point taxation after the GST approach. In an official statement CREDAI affirms that GST will be a major player in Indian economy as it assimilates central and state tax paying into an absolute tax system for the entire country. CREDAI urges state government to downplay the double taxation of realty by treating land nil rated GST regime.
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GST benefits both the state and industry as it waives multiple taxation at the state and centre level and the related other indirect surges. Real estate sector come under 12% slab of GST, which was only a chip of the tax burden, whereas for all other sectors GST is being considered as their indirect tax liability. Real estate sector is at odds as state government levied stamp duty on immovable properties will be operating even after GST implementation.
Stamp duty adds on 5-8 per cent excess taxability on the total valuation of the immovable property. The duty is to be paid on each transaction and is levied by the state governments on circle rates or guideline values of possessions which are at random determined and far in overindulgence of the value at which transactions turns up. Except abatement for land is permissible, cost to the end purchaser would mount. The National Real Estate Development Council (NAREDCO) revealed that 12% GST on construction process meant for relieving the buyers, which would encourage the sale volume in the coming days.
Welcoming the GST roll out West Bengal RERA expert Mr. Mahesh Somani said, “GST takes in more than 16 major taxes and brings together under a single bind. It will levy a simplified tax policy to the consumers. Indian realty is the contributor of 5% GDP revenue of the country and is considered the second-largest employment title-holder.”
“Residential property sale in Kolkata will definitely gain from the GST implementation as market report says that prices of luxury properties are likely to drop by up to 5% in this FY. Yes, the sector is expecting more sale volume this year than the previous one,” added Mr. Mahesh Somani.
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CloudFunnels Review – All in One Sales Funnel Builder You Need
https://lephuocloc.com/cloudfunnels-review/
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Picture credit: Image taken from Bright Online future
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getmyghar · 2 years
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Buyers of real estate have to be aware of the fact that the transaction of purchasing property entails more than just forking over the money that the property is worth. For instance, there is a luxury bungalow for sale in Kolkata, and you want to buy it, then its stamp duty will be calculated based on its total land area. Stamp duty rates have been reduced by two percent, and property circle rates have been reduced by ten percent, as a result of recent action taken by the government of West Bengal.
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propertyexperttips · 2 years
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GST ON PURCHASE OF UNDER CONSTRUCTION HOUSE, COMMERCIAL PROPERTY
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GST ON PURCHASE OF UNDER CONSTRUCTION HOUSE, COMMERCIAL PROPERTY
Before this judgment, the developers and builders had to pay GST on the remaining two-thirds of the contract value, which represented the building value, and assumed one-third of the contract value as "Value of Land." After this ruling, the real value of the land (if specified in the contract) will be subtracted, and the GST rate will be applied to the remaining sum. This ruling will be extremely advantageous for anyone purchasing under-construction real estate, particularly in cases where the land value exceeds the GST law's one-third threshold. It is significant to remember that because the "sale of land" is not included in the GST net, tax is not charged on it.
What law says about GST on under-construction flats/houses?
GST is charged on the provision of either goods or services, or both. The sale of land and ready-to-move-in homes and constructions, however, is exempt from the GST. If the developer receives payment for the development of such land or building, in whole or in part, before the completion or occupancy certificate is issued (as appropriate), then GST is due on the construction services rendered by the developer.
As a result, GST will be applied to the sale price if the developers sell the apartments to clients before the appropriate body issues the occupancy/completion certificate (as applicable).
There are two parts to the sale consideration for apartments, homes, and other structures:
Building, home, or apartment construction services
Land supply
How does the GST define affordable housing?
Housing units priced up to Rs 45 lakhs are considered affordable housing per the government's definition. To be considered affordable housing, the unit must also meet several requirements. If a dwelling unit in a major city costs up to Rs. 45 lakhs and is 60 square meters or less, it is considered to be an inexpensive home (carpet area). Metropolitan cities include Delhi-National Capital Region, Bengaluru, Chennai, Hyderabad, Mumbai-Mumbai Metropolitan Region, Kolkata, and Chennai. A dwelling unit in any Indian city, outside the ones already mentioned, that costs up to Rs 45 lakhs and contains up to 90 square meters of carpeting qualifies as an affordable house.
GST is not applicable on ready-to-move-in flats but applicable on under-construction flats 
It is significant to highlight that the real estate industry is not included in the scope of the GST. Under "work contracts," the tax rate that applies to a property building is assessed. For this reason, a developer is not permitted to add GST to the price of residences that are ready for occupancy. A property is labeled as ready-to-move-in upon completion and after acquiring the occupancy certificate, and is no longer covered by a work contract. In other words, the GST would apply to the sale of properties that are still under construction and are awaiting OCs. It also begs to be mentioned here that under the previous administration, buyers of ready-to-move properties also had to pay service tax.
Written By
Property Expert Channel
Anurodh Jalan
Jalan Property Consultant 
8801003684
For any Property related services please contact us. 
Thank You
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ideasengineering · 2 months
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Enhance your outdoor spaces with Cognian Home Solutions, your trusted Landscape Contractor in Kolkata. Our landscaping services redefine outdoor aesthetics, blending creativity and functionality seamlessly.
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property360india · 2 years
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Top 4 Reasons To Invest In Newtown, Rajarhat Residential Complexes
Apartments in Newtown offer a distinctive fusion of the outdoors, job prospects, & social harmony. So consult real estate brokers in Newtown for purchasing one. 
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There is no asset class that compares to real estate in terms of wise investments. In an effort to park their money in a secure location and generate handsome returns in the future, investors purchase a wide range of choices, including land, apartments, offices, and retail spaces. Purchasing apartments is the best choice if you're thinking about investing in real estate development in Newtown. A wise investment in bungalows or 2 BHK and 3 BHK apartments can be quite beneficial. Demand for residences has steadily increased over the last several years.
Why does the best real estate consultant in Newtown advise investing in properties here?
Rajarhat Flats in New Town, Kolkata, are reasonably priced
The most important deciding factors are always cost and value, whether you're looking for flats for sale in New Town, Kolkata or somewhere else. Although the cost of real estate in Kolkata has been steadily increasing for more than ten years, New Town offers numerous enticing chances for the value buyer to purchase a property. Due to its location outside of the central city, New Town flats in Kolkata offer far more affordable prices than those in Kolkata South. Real estate brokers in Rajarhat point out that you can get large, pleasant apartments with several balconies for a fair price.
Amenities
When comparing apartments for sale in New Town, you can consider the many amenities offered by the apartment buildings because, believe us, there are plenty. To improve the lives of its potential occupants, numerous reputable real estate company in Rajarhat has gone above and beyond. New and upcoming apartments in Kolkata's New Town are a part of sizable residential developments that offer a wide range of amenities, including swimming pools, jogging trails, ponds, well-staffed clubhouses, and the like.
Rajarhat New Town, Kolkata, offers entertainment and hospitality
New Town has developed into a booming entertainment destination as a result of the satellite city's active IT community and student population. The region has a number of shopping centres, including Aquatica Water Park, DLF Galleria, and Axis Mall New Town, which provide access to much-needed retail therapy. Additionally, Rajarhat New Town's restaurants and other food and beverage outlets are very popular. Both young and elderly locals love the area's wonderful fare that New Town eateries are known for serving up. In terms of hospitality, there are reputable hotels close to New Town Kolkata.
Rajarhat New Town's Kolkata connections
The residents of the flats in New Town Kolkata enjoy a wide range of options for transit and connectivity. There are a variety of well-developed transportation options available to you in the area's transportation network, including bus routes, metro lines, taxi services, and rickshaw services. The principal train station and international airport in Kolkata are both located at distances of 14 and 11 kilometres, respectively, for travellers who frequently leave the city.
Conclusion
To invest in a property that fits your needs and budget, contact Property360, the best real estate agents in newtown premier real estate firm employing experienced real estate agents in New Town Kolkata. Go direction here,
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unimarkgroup · 3 years
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Planning To Buy a New Home?  4 Key Buying Facts To Consider
Nothing can be more comfortable than sitting close to your balcony, enjoying a hot coffee while getting the view of East-West Kolkata's township!  
That is quite possible in reality if you buy any of the flats in Patuli available for sale. However, before purchasing a property, you should consider a few things. 
Measurement of the rooms 
The room measurement is an essential factor that cannot be overlooked while purchasing a property. If you are planning to buy a 2/3BHK flat, you should inspect the inner areas of the apartment. If you are not an expert in measuring the internal areas of the room, you should find someone who can examine the per area sq. feet of the rooms. If you find the per area sq. feet of the rooms are sufficient, you should only measure the rooms. 
Affordability factor 
The affordability factor plays a vital role in purchasing a flat. Before paying a visit to the property, you should frame a price chart to identify the available price of the individual property you are willing to buy. It is wise to put a tick-mark beside those flats for sale in EM Bypass or anywhere else in Kolkata that meets your budget. It will be easier for you to shortlist the right property from the list of the property you have finalized. 
The reputation of the buyer 
Before purchasing a property, you should know the reputation of the buyer. A property developer from whom you plan to buy a property should be RERA approved. If you find the property developer is RERA approved, it is wise to rely on the buyer while purchasing a property. Buying a property from a RERA approved developer will always help you to remain far from land-related legal disputes after buying the particular property. 
Location plays a vital role before buying an apartment
As a buyer, you should consider the location of the apartment. If you find the apartment's location is ideal, then only it is wise to purchase the flat. It is essential to buy an apartment that is located close to the hospital so that you can expect medical aid in an emergency. It is also vital to choose a location that is well connected to the main city. If you have shifted to Kolkata recently, you should take some time to find out which location is suitable for you. Once you find a suitable location, then only you should initiate a process to buy the property. 
Conclusion
Before purchasing any of the available flats for sale in Patuli or anywhere else, it is always advisable to consider these factors shared above. It will always help you to find the right property available for sale in Kolkata.
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truehomes24 · 3 years
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Decor That Brings Home Prosperity And Positivity
No matter you have acquired the costliest flat for sale in Kolkata, you still have to invite that positive aura to your home. Converting a residential property into a home is what brings you to a welcoming environment after a long hassling day. The house that lifts up your energy every evening you come back from work calms your mind on lazy Sundays and is a signature of your lifestyle. 
While purchasing a home is once in a lifetime achievement for most of us, we do everything in our power to keep that house well maintained and decorated. Most families (especially Indian households) attribute home decor to good luck, strongly believing that prosperity gushes to their house by hanging the portrait of racing horses in their hallways or living rooms, planting a “money plant” or Epipremnum aureum an indoor plant increases the wealth of the family. 
More than 70% of the families have these common decor items like a painting of horses (attributed to productivity), money plant (attributed to wealth), a rangoli (attributed to happiness) at the entrance, a statue of Buddha (attributed to calmness) and a mirror in the hallway or entrance (attributed to preventing an evil’s eye in the house). In a way, all these beautiful creations contribute to lifting up the positive aura at your home.
Is this a superstition? 
Does God himself come to land and get attracted by these good luck charms you hold in your house and does that mirror actually curbs evil from coming to your house? Well, for me it is a bit far-fetched. In my opinion, placing this beautiful artwork or plant helps in creating a placebo effect - tricking the brain that your house has all the good luck you need to sustain and grow in life. You are emotionally healed as your mind says everything in your house is bringing good luck. “No Broken Watch In The House Please” - it’s bad luck. 
Good Luck Comes With Positive Energy And Thought Process
As said all these amazing artefacts, though significantly beautifying your home, are here to tell your heart, brain and soul that “all is well” in the house. You can now sleep peacefully.  Creating and maintaining strong positive energy, a sense of calmness and productivity - yes your house is now immune from all the negativity. 
Nothing welcomes the positivity in your house more than cleanliness. A clean home with a mini temple is the place where Gods reside. Cleanliness with a temple again creates a sense of calmness in the house - your home is immune from evils.
Final Thoughts  
Negativity and positivity are both states of mind - though your atmosphere certainly contributes to creating an aura, playing with your brain through all your other senses. Do you believe in Vastu? Real estate, nowadays is quite adamant about the Vastu Tangent whenever it comes to flat for sale in Kolkata.    
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maheshsomani · 5 years
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Jharkhand Wipes Out Registration Charges On Property In Woman’s Name
A remarkable step has been taken by the Jharkhand state government supporting the women empowerment move. On Wednesday the government decided to forgo registration fee on properties registered on the names of any women.
In a press release government officials said that no registration and stamp fee would be charged for any immovable property purchased in the name of any female member of any family. Only Re. 1 token stamp money will be collected. This decision was made public in a review meeting of Land and Revenue Department review in Ranchi. Jharkhand CM Raghubar Das was the honorable president of the meeting, who also put lights on complete digitization on the entire area map of the state. In this meeting The Land and Revenue Department updated that at present online registry system is fully accessible across the state. To bring in women investors in the realty sector leading banks have already reduced housing interest rates across the country. In many states of the country women pay lower stamp duty. In Delhi and Haryana stamp duty charge is 2 per cent less. Thus, it’s advantageous for a couple to buy any immovable property in name of the woman. Women are also eligible of a tax benefit of Rs 2 lac on the EMI paid on home-loans. Coming to the affordable housing sector, PM has already announced that women should own an affordable housing asset as a co-owner or solo property owner. Under poverty alleviation scheme in west Bengal, women’s names are included in land titles of the government allocated plots to the economically weaker section of the state.
It’s expected that India is going in the right way to allure investors from the both domestic and international sides. After the complete implementation of the Real Estate (Regulation and Development) Act, 2016 (RERA) buyers will get legal protection for intellectual property rights. Praising the move, West Bengal RERA expert Mr. Mahesh Somani said, “More people will be coming forward with realty investment soon after complete RERA implementation. As real estate sale holds a prime contribution in Indian GDP, the country is offering maximum benefits to the investors. RERA will be supporting homebuyers with a strong and transparent legal system.”
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_ LNN (Liyans News Network)– Visit our online property portal to avail residential property sale in Kolkata for buying home at great discount.
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arohi19 · 3 years
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my-1-stblog · 3 years
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real estate news
APARTMENT BUYERS SUFFER MOST DUE TO DELAYED REGISTRATION: REAL ESTATE EXPERTS
Land promoters and specialists bring up glaring lacunae in MahaRERA's remain towards allottees of such projects.
Of the many undertakings enrolled with MahaRERA whose enlistment has passed because of non-restoration, the greatest loss is level buyers denied of a fast cure under the power.
Land specialists say this will affect home purchasers previously battling case against engineers for postponed projects in MahaRERA.
Ramesh Prabhu, CA and organizer executive of Maharashtra Societies Welfare Association (MahaSEWA) said, (https://cutt.ly/1QfLFZy)
"The actual motivation behind setting up an administrative authority is to guarantee that each land project enrolled with it is finished inside the course
of events pronounced by the advertiser at the hour of enlistment.
On the off chance that for an explanation the venture couldn't be finished inside the course of events, the advertiser should apply to RERA for its augmentation by presenting
the explanation. The authority might give augmentation for a greatest time of one year.
The deferral of the task impacts level buyers from multiple points of view and they go through troubles monetarily, truly and mentally."
He added that the allottees should shape a relationship to assume control over the undertaking under Sections 7 and 8 of RERA.
"Somewhere around 51% of the allottees are needed to join the affiliation," he added.
Promoter Godfrey Pimenta said, "Tragically, numerous level buyers who wish to seek after procedures before MahaRERA can't do as such as the enlistment has slipped by.
In any case, from March 2018 to March 2020, MahaRERA took suo motu cognisance of such cases and passed very nearly 200 or more orders guiding the engineers to give up the
rundown of allottees of the said ventures to empower them to shape a relationship in the event that they wished to assume control over the undertaking.
To secure the interests of the level buyers, orders should come for the relationship of allottees."
Promoter Nilesh Gala, who rehearses in MahaRERA said, "The RERA Act accommodates a component under Section 8 for projects which are denied or slipped by.
However, no means against defaulting designers have been taken for recuperation towards cost of such activities' finish. The allottees are kept stranded.
No cash has been recuperated by Maha RERA nor have these advertisers' organizations/organizations and gathering organizations been boycotted.
There is no coordination between Maha RERA and arranging specialists like MHADA/SRA/BMC/CIDCO, and so on to interlink these undertaking enlistments and their updates."
Backer Akash Menon, who additionally rehearses in MahaRERA, said, "While the RERA Act is powerful and complete, the requirement of its command is seriously needing.
In situations where the RERA enlistment of an undertaking has slipped by, Section 6 of the Act obviously recommends that a designer might look for expansion just if power
majeure occasions (like regular cataclysms) have happened influencing the improvement of the venture. Segment 8 sets out the commitments of the expert in the event that the
enlistment of a task has slipped by, and enables it to make medicinal strides incorporating talking with the public authority to make a vital move and additionally finishing the
improvement work by drawing in the skillful specialists or relationship of allottees. Lamentably, in spite of having such thorough forces available to its, only occasionally do
we see any proactive endeavors in such manner from the authority."Senior land advocate Vinod Sampat said, "When a task is repudiated, it should be made glaring and pitched so that
new allottees don't book in it. The law can follow all the way through, yet alleviation must be given to allottees whose well deserved cash is trapped.
Ordinarily, when an undertaking slips, there is an advance and the venture is sold. The expense must be borne by allottees or the approaching engineer.
The need of great importance is to boycott not just the organization which has attempted the work, yet to likewise make a severe move against any remaining advertisers related
straightforwardly or by implication with development exercises identified with the task."
Sampat has a few ideas for RERA. He said, "a) A title declaration gave by a promoter should have legitimacy just of 90 days. Today one can add-on a ten-year-old title
endorsement which doesn't fill any need. b) Balance sheets and pay and use records ought to be transferred on the RERA site each month. Also, a deviation of say 10% or more
ought to be brought by the reviewer to the notification of RERA and level buyers consistently."
"All grumblings held up by level buyers ought to be shown on the manufacturer's and MahaRERA sites. This will make manufacturers dread level buyers," he added.
HOUSING BUYERS SEEK DISCOUNTS, FREEBIES
A larger part of imminent homebuyers across India need limits, gifts and adaptable installment alternatives from manufacturers to urge them to buy their pads as land keeps on
being the favored resource class for venture, as per a joint review by land entryway Housing.com and realty body NAREDCO in the middle of January and June among more
than 3,000 customers. The study report was delivered as of late at an online class. As indicated by the study discoveries, land is the favored method of speculation
for 43% (35% last year) of respondents, trailed by stocks 20% (15% last year), fixed store 19% (22% last year) and gold 18% (28% last year).
Most of the respondents (71%) feel that adaptable installment plans and limits will give truly necessary monetary guide during current occasions.
Naredco President Niranjan Hiranandani said the manufacturers are working at dainty edges however limits and gifts are being offered by those engineers who are
left with more inventory and furthermore have different responsibilities like obligation reimbursement. "The cost of item is represented by request supply.
In case developers are locked with overabundance inventories, they do offer limits. Limits are likewise being given at some point as feel great factor to clients," he added.
Dhruv Agarwala, Group CEO of Housing.com, Makaan.com and PropTiger.com, said the Covid-19 wellbeing emergency has supported the significance of house purchasing across the world.
"Therefore, the private housing market isn't just seeing new interest from first time homebuyers yet in addition from a ton of customers who are moving up to greater lofts."
This interest increment, supported by absolute bottom lodging costs and verifiably low loan costs on home advances, has helped private land designers to explore through the
intense monetary circumstance," he added.Mani Rangarajan, Group head working official of Housing.com, Makaan.com and PropTiger, said developers' edges for under-development
properties have discounted because of an expansion in development expenses and land costs in certain urban communities. "In this manner, there is little extension for decrease
in fundamental selling value (BSP). Be that as it may, manufacturers have been offering adaptable installment plans and limits at times to draw in clients," he added.
Rangarajan said the real estate market has shown incredible strength during the second influx of Covid-19, with request and supply both developing during April-June 2021
contrasted with a similar period last year. "The overview shows that purchasers' estimations have improved since June and individuals have begun looking through properties
with recharged force. We anticipate that demand should stay solid during the happy season," he added. Rangarajan requested that state governments ought to decrease stamp
obligation on enlistment of properties to energize homebuyers. Solid lodging deals in Maharashtra's two key business sectors - Mumbai and Pune - recommend that stamp obligation
decrease by the state government assumed a significant part in animating interest during the September 2020 to March 2021 period. The study tracked down that monetary and pay
viewpoint for the coming a half year is more hopeful when contrasted with the main portion of 2020. The opinions have been less affected for this present year given that
vulnerability is lower when contrasted with last year. Additionally, lockdowns have been more particular alongside immunization accessibility.
AIR INDIA GOT RS 738 CR IN 6 YEARS VIA REAL ESTATE SALE.
Public transporter Air India (AIL), which is destined to be privatized, has raised Rs 738 crore from the offer of its land resources since 2015,
and procured rental pay of about Rs 100 crore every year from its properties, Minister of State for Civil Aviation VK Singh told the Lok Sabha on Thursday.
Singh, in a composed answer, said that Air India has sold 115 units of land resources from 2015 work July 12, 2021.
"Afflict has distinguished 111 packages of properties for adaptation out of which 106 bundles of properties are in India and rest five are abroad properties...
The 111 bundles of properties comprise of 211 units which are under adaptation," the clergyman said.
Air India has been adapting its resolute resources for offset its gigantic obligation of around Rs 60,000 crore.
Last month, a public notification was given welcoming e-closeout offers available to be purchased of Air India properties situated across India.
The property included private just as business units is prime urban areas like Delhi, Mumbai and Kolkata. The divestment-bound aircraft was hoping to
raise Rs 200 to 300 crore by selling these land resources.
Recently, Singh had educated that monetary offers for Air India are probably going to be gotten from qualified intrigued bidders (QIBs) by September 15 this year.
Without unveiling subtleties of the QIBs, Singh had emphasized that the public authority has gotten "various" articulations of interest for Air India's privatization.
HOUSING MARKET IN 2021: MUMBAI DOMINATES ALL-INDIA RESIDENTIAL SALES IN THE FIRST QUARTER.
Mumbai, the 'City of dreams,' is satisfying its name. It keeps on satisfying dreams and desires of individuals relocating to the city looking for occupations
and enterprising aspirations. The city with its created framework, simple availability and admittance to public conveniences makes it an optimal
area for transients to settle down.Mumbai is one of the costly housing markets in the nation, anyway an entire host of elements at play right now have
made purchasing a house in this city a reasonable alternative for some. Rumored engineers that guarantee quality homes and opportune conveyance
combined with most reduced at any point home credit loan costs in the previous twenty years, have fuelled this pattern of expanded deals in the
city.A late Q1 2021 report of Indian land by ANAROCK, India's driving free land administrations organization unmistakably shows that the deals of
homes in the best seven urban areas in India in this period have outperformed Q1 2020 by practically 29% at 58,920 units. This is essentially higher
than the pre-Coronavirus levels, which shows a monetary revival of sorts.Lending belief to the hypothesis that financial recuperation is certifiably
not an insignificant blip on a the radar is that the high offer of homes is joined by an increment in their dispatches too which plainly demonstrates
that this is a hearty pattern. The seven urban communities in Q1 2021 saw the dispatch of 62,130 private units, higher by 18% in the past quarter
and 51% on a year-on-year premise. The gathering of the best seven urban areas in India contains National Capital Region (NCR), Mumbai Metropolitan
Region (MMR), Bengaluru, Pune, Hyderabad, Chennai and Kolkata.
This uptick in the deals of homes in the seven urban areas was essentially driven by MMR and Pune, who together represented 31, 227 units which is 53%
of the relative multitude of private units sold in the quarter viable. The MMR locale involves nine Municipal Corporations of Greater Mumbai, Thane,
Navi Mumbai, Kalyan-Dombivali, Ulhasnagar, Bhiwandi, Vasai-Virar, Mira-Bhayander and Panvel. The MMR locale additionally incorporates nine Municipal
Councils of Palghar, Ambarnath, Badlapur, Karjat, Khopoli, Pen, Uran, Alibaug and Matheran.
MMR alone recorded an offer of 20,350 private units which was 35% of the complete deals of 58,920 units in the arrangement of seven urban communities
under consideration. This makes MMR the biggest market for private deals in the country. This offer of private units in MMR was higher by 16% than the
Q4-20 period and higher by 46% on a y-on-y basis.From a dispatch viewpoint as well, MMR had the biggest offer with 14,820 dispatches in FY1 2021.
This adds up to 24% of every one of the 62,130 dispatches in the country during this period. While the development in the country as far as dispatches was 18% on a Q-to-Q premise and 51% consistently.
The adjustment of Mumbai was higher than the public midpoints. The dispatches in Mumbai developed by 24% on a Q-to-Q premise and 41% on a year-to-year premise.
MMR had 11,910 new dispatches in the past quarter and 10,490 in the quarter last year of new private units. According to a stock point of view, i.e.available units available to be purchased, the MMR district has the most noteworthy number at 1,97,040 of private units in Indian urban communities.
The main seven urban areas in the nation have an absolute stock base of 6,41,860 homes available to be purchased of which the MMR locale has 31%.
These signs call attention to the pattern that the interest for private properties in MMR keeps on being solid and will improve its situation as probably the best city in the nation to live in.With designers offering different installment choices, low loan fee system and limits which impact the purchaser choice, the yearning to claim a home in Mumbai keeps on being solid. The solid vertical pattern in deal and dispatch numbers in MMR mean that the private area in Mumbai is recuperating and tenderly recovering from the pandemic incited lows.While worries over the third rush of the COVID-19 pandemic pose a potential threat, India has quit slacking of inoculations, which could give solace and henceforth the effect on the economy may not be pretty much as terrible as prior. The public authority appears to be more ready to manage circumstances emerging from this pandemic, and stay away from any enormous scope lockdowns that hurt the economy. Purchasing a house is a definitive all consuming purpose for some and this pandemic has reaffirmed the significance of claiming one. It is thusly expected that the homebuyer trust in Mumbai's private market will keep on being strong.Experts accept that this certainty will move home purchasing and conceivably lead to home costs firming up particularly with the merry season being around the bend. The augmentation of monetary advantages by the Government, the continuation of the delicate financing cost system by the RBI making home advances effectively open and reasonable, limits and better conveniences by the designers will keep purchaser traffic in Mumbai solid.
Be that as it may, the present circumstance isn't relied upon to keep going long as the high info costs which the engineers have been engrossing
so far are at last given to the home purchasers. There is vulnerability about the continuation of the low-loan fees too as expansion drifts behind the scenes of solid home interest that may prompt an ascent in home costs in the MMR district. Specialists have confidence considering these conceivable outcomes the ideal opportunity to get the fantasy house is currently.
GAINTS OF REAL ESTATE ARE WINNING THE PANDEMIC ECONOMY
In the months paving the way to the pandemic, purchasers had gone short on private land. Arrangements were going abegging and costs hadn't ascended for quite a long time.
Most huge engineers needed to manage a stock stack up. While tried and true way of thinking would have contended for a deteriorating of interest post pandemic,
the housing market has, all things considered, separated. Enormous coordinated designers have seen a lot of the pie increment, while more modest players with lesser
admittance to capital have battled.
"There is unquestionably more trust and confidence in bigger players who have been accomplishing quality work," says Niranjan Hiranandani, overseeing head of the
Hiranandani Group. A significant justification this has been the admittance to back that bigger engineers have. Before, private land depended on pre-deals to fund-raise
that financed development. Post the execution of the Real Estate (Regulation and Development) Act, a key financing device for more modest engineers has been refused.
While this was a pattern that existed even before the pandemic, it has sped up since, says Hiranandani. As individuals search for bigger homes and start their property
search on the web, it is the better-known names, with quick brand review, who have profited.
Information backs up this case. As indicated by research by Anarock, a land benefits firm, driving recorded land designers have seen their portion of the overall
industry increment from 6% in FY17 to 22 percent in FY21. Names in this class incorporate Prestige, Sobha, Puravankara, Kolte-Patil, Sunteck, DLF and Godrej Properties,
among others. Driving unlisted organizations—Piramal Realty, ATS, Wadhwa, Runwal—saw their offer ascent from 11% to 18 percent in a similar period.
Unbranded designers who had a 83 percent share in 2017 are presently down to 60 percent.
As per Anarock, out of 93,140 units sold in the initial 3/4 of FY21, recorded players represented 21.23 million sq ft or 2% more when contrasted with a similar period in FY20.
"While dealing with this overview, we addressed around 8,000 clients and the criticism was that while they were able to purchase under-development properties from a
bigger engineer, they were reluctant to do as such from a more modest player, even at a markdown," says Prashant Thakur, chief and head of exploration at Anarock.
Because of these purchaser inclinations, the housing market, which has been uniting throughout the previous five years, will probably move to a phase where there
will be about six designers dynamic in every city. Some will be across urban communities, however plainly the times of public engineers are finished. Organizations
like DLF and Godrej Properties that had public desires have pulled back to their home business sectors. It additionally has suggestions for their productivity and accounting
reports—both are probably going to work on in the years ahead.
As land deals eased back post 2013, most engineers clutched valuing. This brought about the business log jam proceeding and more modest players with lesser
admittance to back getting pressed. "In a situation where engineers couldn't create on schedule, there was a trust shortfall," says Shveta Jain, overseeing chief, private
administrations, Savills India. "First-time home purchasers, where the interest is, were not enthusiastic about purchasing homes under development."
In the 2019 Forbes India Real Estate Special, JC Sharma, overseeing chief at Sobha, had said, "We thought the stoppage that started in 2013 was a two-three-year wonders.
" But he'd likewise brought up that he saw this long spell of moderate deals and stale costs as being useful for bigger players, as they had the monetary muscle to climate them.
There was additionally the triple blow of the execution of the Goods and Services Tax, the Real Estate Regulation and Development Act, and demonetisation.
Sobha saw a 6 percent expansion in deal region to 1.13 million sq ft, at a worth of Rs 888 crore, up by 22%. The organization has not delivered numbers for Q4FY21.
The expansion in deals is reflected across other huge designers. Take Macrotech Developers, otherwise called Lodha. It saw a 116 percent increment in deal
region to 1.8 million sq ft in Q4FY21, even as deals for the entire year were somewhere near 10% to 5.1 million sq ft. Assortments were up by 10% in Q4 to Rs 2,089 crore.
Godrej Properties, which over the most recent five years has downsized tasks to zero in on Delhi-NCR, Mumbai, Pune and Bengaluru, saw its most noteworthy ever
appointments at Rs 6,725 crore in FY21, with region offered ascending by 23% to 10.8 million sq ft. Detachment Enterprises likewise saw deals ascend by 8% in FY21 to
4.6 million sq ft. The expansion in deals, "has been because of better monetary records and furthermore because of our capacity to convey throughout the most recent
couple of years", says MR Jaishankar, executive and overseeing head of the Brigade Group.
This increment has mostly been fueled by the way that few engineers have left their property distributes offered them to their bigger partners. There are likewise
joint advancement arrangements where the designer is just liable for deals and development while the land is possessed by another person. Deals are, nonetheless,
reserved in the marked designers' name.
A fall or stagnation in inventories has been another outcome of this pattern. At DLF, the country's most important designer, inventories tumbled from Rs 22,486 crore
in March 2020 to Rs 21,832 crore in September 2020. At Sunteck, they were down from Rs 2,720 crore to Rs 2,642 crore in a similar period. At Prestige Estates,
the number tumbled from Rs 11,375 crore in March 2020 to Rs 9,580 crore in March 2021.
Longer-term patterns for enormous designers look significantly really encouraging. At Prestige Estates, inventories have fallen by 37% over the most recent two years.
Conversely, somewhat recently, they rose by 571%. At DLF, while inventories have remained level over the most recent year and a half, they rose by 99% in the earlier decade.
Also, at Sunteck, as well, they remained level over the most recent year and a half, however rose by 198% throughout the last decade.
The improvement in accounting reports is probably going to bring about three key patterns over the course of the following five years. Initial, a fall in the expense of assets.
Enormous engineers are presently ready to get at rates that are a lot of lower than the sloppy area. At Sobha, the expense of assets remains at 9.17 percent in Q3FY21.
Contrast this with more modest players who regularly get at 15 to 18 percent, and the distinction in interest costs is obvious.
Second, lower obligation numbers. All recorded engineers overviewed showed a decrease in, or level, obligation numbers throughout the last year, despite the fact that somewhat
recently they had risen pointedly. Lower obligation numbers joined with higher deals could see them report critical working influence over the course of the following five years.
They all have something like a year of deals in stock. With land costs represented, these deals will excessively affect the bottomline.
Third, better admittance to land bargains. Landowners, having consumed their fingers with more modest engineers, are presently able to manage just notable names.
On their part, engineers can direct terms that permit them to share income and benefits just once deals start. There are additionally cost acceleration provisions:
If crude material costs rise, then, at that point the hit is imparted to the landowner.
As the market keeps on merging, anticipate that the sector should create an anticipated stream of profit and incomes. Likewise expect monetary records to shrivel as the
consistency of deals would lessen the requirement for extreme money saves. Return on value and return on capital would be in for an increment. Also, ultimately,
cost income products, which have throughout the most recent two years began considering in the expanded profit, could keep on rising.
https://www.mid-day.com/mumbai/mumbai-news/article/flat-buyers-suffer-most-due-to-lapsed-registration-real-estate-experts-23185583
https://www.thehansindia.com/business/homebuyers-seek-discounts-freebies-698961
https://www.newindianexpress.com/business/2021/jul/30/air-india-raised-rs-738-cr-in-6-years-via-real-estate-sale-2337553.html
https://www.businessinsider.in/business/news/housing-market-in-2021-mumbai-tops-all-india-residential-sales-in-the-first-quarter/articleshow/84338893.cms
https://www.forbesindia.com/article/real-estate-special/goliaths-of-real-estate-are-winning-the-pandemic-economy/68759/1
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