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Homes in Kolkata Have Become The Most Reasonable Now, In The Last 7 Years

Those of you have been waiting so far, this is the time for you to purchase a house. The Real Estate sector witnessed a correction in the price for the first time in the last 7 years. The drop in the actual price of purchase is also significant due to the discounts being offered by developers.

In the words of the National Director and Chief Economist of a renowned property consultancy, the percentage of developers offering discounts on the negotiated price has increased from the previous 50% to the present 80% and above. Despite the inflation at the rate of 4.5% and the actual increase in the costs of construction, the constant price along with discounts being offered amount to an effective 12%. Kolkata homes have thus, become affordable.

The changing scenario is hard to be believed, with the property price experiencing the biggest drop of 17% at Tollygunge. The prices here would usually vary from 5,500 to 13,500 rupees per square foot. Rajarhat- New Town occupies the second place in terms of price correction by 12%. The actual range of property prices here is 4000 to 6000 rupees. Residential units at Rawdon Street, Ballygunge and Park Street did not see any drop in prices. A negligible drop in the price within a range of 2 to 4% has been experienced by the properties at Salt Lake, Jessore Road, BT Road, Behala, Narendrapur, and Madhyamgram.

An upfront discount of 7.5% is being offered by most developers to encourage customers for purchasing homes in spite of having to pay the 12% GST at present. Several other schemes are also on offer for the contentment of buyers. This generosity of the developers has arisen from the remarkably low sales record in 2017, that is 14,147 units. Whereas, 17, 647 units got sold in 2016, the year that was hit by demonetisation.

The President of CREDAI Bengal interprets the situation in a different way, saying that discounts were offered in the past as well but now the strong effect of GST has caused the buildings to absorb the increase in cost. Although prices have remained the same, there has been a rise of 10-15% in construction costs since 2011. This is reflective of the extent of encouraging sales by the developers as well as the market sentiment.

Despite holding back new project launches in 2017, the market remains with an unsold inventory that is almost three years old as revealed by a survey conducted by the consultancy that has been mentioned here. Another 3 years will be required to get these 39, 525 units sold thereby, making it the most suitable time for you to buy one.

The VP of CREDAI India anticipates a growth of demand as soon as the West Bengal Housing Industry Regulation Act is notified by the state.  

Hope, the information puts in a good mood for all the buyers out there. To know more, contact us at Transventor Property Management Services Pvt Ltd. We offer end-to-end solutions for meeting all your requirements during the rent, sale or purchase of a property.

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In Which Phase Of A Project Would You Like to Purchase Your Home?

You are required to do some research work before you purchase property in any phase of its development. There are buyers who search for benefit in terms of price. On the other hand, some depend on the pace of the project’s development to select a certain phase for investing.

Given below are the advantages of purchasing property in the project’s initial phase:

In the initial phase of a project, 20 to 25 % of the inventory is successfully sold by the developer due to the special price he offers. This means that, as a buyer, you too can avail this advantage of purchasing the property at a lower cost. The chances for price appreciation is also maximum at this stage.

It is only after gathering every possible detail of the project concerned and cross-checking them with that of the past deliverables by the developer, you will be able to assess his track record. If you find that the individual possesses sound credentials then you may make your purchase during the project’s initial phase.

Earlier you buy, lesser will be the price you have to pay because at times when the first phase of the project is sold out after getting completed, the following phases that get ready sometime later, may be sold at a higher price by the developer.

Is it safe to buy property in the later phase of the project concerned?

The answer is, yes. When waiting to invest in the later phases of a project, you get to know the pace at which the construction is going and can stay assured with its delivery time. Besides, you are able to see how the entire project will look after completion.

Before buying a residential unit, make sure that the project has obtained all the required approvals and clearances. This checking of the project’s background and amenities promised by it is never possible during the initial phase. You have to wait till the project construction has either reached halfway or is nearing its completion.

In order to gather money for the cost of project construction, a developer tends to sell 20 to 25 % inventory at a lower price during the first phase. But the same may not happen always, especially when the inventory does not get sold as a result of unjustified prices demanded by the developer. As a result, the prices get lowered in the later phases.

Wasn’t the information helpful? For any assistance you require while renting, selling or buying a home, feel free to contact us at Transventor Property Management Services Pvt Ltd. The host of facilities offered by us aims at making your every deal a hassle-free one.

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Get Your False Notions Cleared Regarding Home Loans

There are some prejudices regarding home loans that mislead the potential buyers to step back. Purchasing a home, especially in the Metro cities, has become challenging for the end users. And hence, the number of borrowers taking home loans is increasing. For those of you, who are not able to decide on whether to take a home loan or not, the truths regarding its myths have been disclosed.

Home Loan Is Not Approved in Case of Discrepancies

There is an ongoing belief that the approval of the home loan by the bank means that there is no financial or legal discrepancy related to the concerned property. But the CBO and the President of a housing finance company says that the responsibility of ensuring the property’s legal, technical and financial aspects lies with the borrower. The individual is required to thoroughly check the property background despite it being checked by the stringent technical and legal departments of the financial institution to approve the loan.

Home Loan Shifting and Credit Score

Shifting of the home loan has a strong effect on the borrower’s credit score, is another myth that misguides buyers. Whereas the truth, according to the concerned CBO, is that the non-payment of EMIs or dues affect the credit score and not the shifting of a loan. He also adds that it would be wise for the borrower to clarify issues concerning the existing lender instead of shifting loan for availing the best deal.

Home Loan Approval and Credit Score

Better the credit score, higher are the chances of fast home loan approval. This is definitely a myth as has been clarified by the CEO of a reputed finance company that offers home loans. In his words, there is no direct relationship between the loan approval and a good credit score since the latter is derived from the borrower’ s repayment track-record data that in no way reflects his level of income. Thus, the income level and credit score do not correlate at all. There are other factors that have a vital role to play in loan approval by the lender. These are:

Income level and stability

The borrower’s age

What he deals in (type of employer)

Builder’s reputation

Project Type

Clear and marketable property title

LTV (Loan To Value)

Type of the Purchased Property

Short Loan Tenure Is Comparatively Better

Another false notion that exists about the home loan is that the one with a longer duration is certainly better than the one with a shorter duration. But as told by the CEO, the effectiveness of loan tenure is solely dependent on the borrower’s personal goals. For those who wish to quickly get rid of liabilities, can opt for a loan with short duration. On the other hand, a long tenure can be opted by those who have to consider several factors like the graduation expenses of their children or any other key milestone.

Hope, this information has been able to clear all your doubts. For any further assistance, feel free to contact Transventor Property Management Services Pvt Ltd. Whether it is the rent, sale or purchase of a property, we are here to help you get through your deal in a hassle-free manner. Wishing you happy buying in the year ahead.

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Taxing Inventory to Lead the Developers in a Hurry

As per the media report, those developers who are possessing unsold units that are more than a year old will be charged with tax. A payment of 8 to 10% of the total value of the property has to be paid. Till date, developers were not required to pay such a tax for the properties that they held as stock-in-trade.

Based on the law of income tax, the following are considered as “house property”:

Factory sheds

Flats

Shops

Agricultural land

Office space

Farmhouses

The tax related to their annual value falls the under “Income from House Property” head. Any unoccupied house property that doesn’t have any owner, irrespective of it lying vacant or on a rent, is to be charged with the tax by the Section 22 of the Income Tax Act. But a property that is in use for any profession or business purpose, is not covered by the Section 22. The tax on such properties falls into the category of “ Income from Business and Profession”. A business asset differs from the capital asset. The business asset won’t be considered in the category of “Income from House Property, for taxation on housing inventory.  

As stated by an Income Tax official, the department is making an assessment of the unsold flats that are more than a year old based on the data of the pan-Indian Real Estate sector. Stocks of unsold inventories are being taken state-wise that could come under the new taxation system.

This a move of the Government to push the developers to end the shortage that was artificially created in the residential market. This in a way is a means of escaping taxes as well. Developers will strive hard to clear off their unsold stock since holding these back will charge them with taxes. Thus, the options will increase for a homebuyer to choose a property within an affordable budget.

On the other hand, those developers who have been holding their stock for some genuine reasons will now become the sufferers. To avoid the liability of added tax, they might have to sell their stocks at a lesser worth, which will add to their misery of reduced finances.

For more of such relevant information, visit us at Transventor Property Management Services Pvt Ltd. We are a Real Estate marketing and management company in Kolkata, to enrich your experience of dealing with a property in terms of rent, sale or purchase.

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What Else Will Influence the Homebuyers More than the Property Prices?

In the coming days, the property price won’t be the major criteria in the decision making of a buyer whether to purchase a home or not. A report suggests the growth of India’s wealth by 42% within 2022, which means that the citizens will get wealthier too. Thus, the choice of the buyer will not be singly dominated by the factor of affordability. Other factors though essential but have been offered less importance so far, will come into play. These factors have been further discussed in detail.

The Level of Pollution

Delhi, the capital city of India, has been making news for months due to its frightening levels of pollution. People there felt safe staying indoors due to lack of any relief from such an unpleasant state in spite of several hurried and harsh measures. The common man feels that it is the responsibility of the authorities to protect the environment.

Not just the celebrities or environment champions are planning to reside away from the city but the common people are also seriously thinking of doing the same. The high pollution caused by the presence of toxic smog in the air is the sole reason. Thus, a buyer purchasing a home in any of the big cities will look out for the area with a comparatively lower level of pollution even if he has to opt for a pricey option.

Effects of Greenery

The slogan of “Going Green” is now being taken seriously by the people with the rising attack of several viruses. Trees act as filters to the environment and their removal is being protested by many as is evident in a recent incident of Delhi.

A petition was filed by a resident in the National Green Tribunal on the occasion of deforestation in sector 25 to clear the area for raising an exhibition-cum-convention centre. The individual also demanded the project’s complete review during that alarming situation of severe pollution levels. This makes it clear that people in big cities are getting more and more conscious of greenery around their home.

Safety is a Priority

The country’s capital has topped among the 19 cities comprising the recent data of crime rate released by the National Crime Records Bureau. The city has occupied the first position in terms of fatal crimes like kidnapping, murder, abduction, rape, economic offences, and juvenile conflicts. With these major cities becoming home to serious crimes, people will hardly invest in affordable properties that put their safety into question.  A pricey home in a safer area will be most preferred.

Developers need to consider all of these before starting on with a project. To stay updated with more of industry news, contact Transventor Property Management Services Pvt Ltd. We offer end-to-end solutions regarding the sale, rent or purchase of any property to ensure a smooth deal.

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Why are Home buyers Preferring Resale Properties Over Those Under Construction?

The Real Estate industry of India has been witnessing a slowdown throughout many of the previous quarters. But the Government authorities and developers did not give up and kept trying hard to bring back the positive sentiment into the market by easing the pressure. As stated by the experts, those deliberate efforts have gradually managed to change the fence-sitters into active buyers.

The analysis of a famed Real Estate organization in the country shows that resale properties have recently scored the topmost position in the buyers’ list of preferences, leaving behind even the under-construction projects. Here’s a look as to why or rather how such a thing happened?

The Valuation and Advisory Associate Director of the concerned Realty company have described the reasons in detail.

No Need of Paying Rent

The purchase of a resale property comes with the greatest advantage of rescuing its buyer from the payment of rent. You just have to pay the EMI but without rent. Secondly, if you haven’t bought the property for your own use then you can use it as a source of income by putting it on rent thereby, earning some extra money.

Devoid of Additional Charges

When opting for a property under construction, the developer will keep the buyer in the nescience of additional costs regarding floor rise, parking or PLC. These charges come into play only after the document has been signed by the buyer and the deal is closed. Whereas, there is no such issue with resale properties since only a single large payment has to be made during the purchase.

No Delay in Property Possession

Resale property can be possessed as soon as you purchase it unlike in the case of under-construction properties where waiting for the possession is an inevitable part of the deal.

The Managing Director cum Chairman of an international Real Estate consultancy feels that this continuing disruption and slump in the realty sector have caused the homebuyers to find peace in resale units. All the credit goes to the new order driven by the major Governmental reforms like GST and RERA.

Assured Safety

During the purchase of a resale flat, you have the option of selecting a safe neighbourhood since it is located in an area where people have been living for years. But a property under construction cannot assure you with the same.

Space is More

Older constructions with an age of even a decade or two can offer you more space in comparison to a 2 BHK that is under construction. Thus, a resale property characterized by less loading will provide you with extra livable space and an increased ceiling height that is rare these days.

A Fair Deal

Under-construction properties, especially those that haven’t registered with RERA yet might keep you in an uncertainty of them having acquired or not, OC (Occupancy Certificate) and Clear Titles. On the other hand, the society that you choose for purchasing the resale unit will definitely bear an OC.

Wasn’t the information helpful? To stay updated with such relevant property-related knowledge, contact us at Transventor Property Management Services Pvt Ltd. Our job is to guide you the moment you require any help while purchasing, selling or renting a property.

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Would A Change in the REPO Rate Be Beneficial for the Real Estate Sector?

The Real Estate sector never expected that the basic interest rates will be reduced by RBI and the same has happened. But the property consultants and builders say that had RBI loosened the rate of any policy, the present status of the housing market would get a thrust.

But the developers are thinking on a positive note with the hope that the home loan rate will be brought down by the banks.

The Vice-President of CREDAI felt and stated that a reduction in the rate would fetch investments from potential buyers with the EMIs reducing in the months to come. He expects a reduction in the rate by RBI during the next review of the policy.

On the other hand, the President of NAREDCO had not expected any reduction in the basic interest rate by RBI. Rather it would continue to concentrate on the control of inflation. This was his analysis based on the market sentiment. He further added that it is ideal for one to expect a rate reduction but the Monetary Policy Committee of RBI hasn’t made any changes to the REPO rate, in its review meet.

The Chairman of a well-known realty consultancy said that it was expected of RBI to maintain the existing REPO rate of 6.25%. A reduction in the rate could have reduced the fear that the market will continue facing a dearth of momentum. It is already under pressure due to GST, demonetization and the shaking up of the policy by RERA. But he also mentioned that the unchanged policy rate won’t be affecting the housing prices.

In the words of the Director of an international Real Estate consultancy, the policy rate cut could stimulate the demand and growth of the market, particularly coming after the recent India upgrade by Moody’s.

Some realtors are in the hope that there is enough scope left for the banks to decrease the home loan rates while many feel that a reduction in the rate at present could have encouraged the demand of buyers.

Increasing inflation remains to be a matter of concern and hence, RBI has acted accordingly by maintaining the existing REPO rate.

To get more of such relevant information, get in touch with Transventor Property Management Services Pvt Ltd. We are a Real Estate marketing and management company that provides tailor-made services to guide you every time you falter any step in property selling, renting or buying.

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Is It Wise to Fully Rely on the Appearance of Sample Flats?

Just as the mannequins display garments so do the sample flats give an idea of dimension and space. Nowadays, sample flats are used for developing an interest in the buyers through the showcase of their potential determining the type of lifestyle they can support. And the buyer will select property accordingly. A dress may suit the mannequin but not you. Similarly, whether the flat type or design used as a display will exactly meet your requirements or not needs to be judged.

As told by the President of CREDAI National, a consumer-centric culture prevails in the Real Estate sector of India. The developers are thus, taking an extra step to attract buyers through innovative strategies. Sample flat is one of the popular tools that developers use these days to attract customers. It enhances the prospective investor’s pre-buying experience.

The Chairman of a renowned Real Estate consultancy firm confirms that these sample flats should be considered as marketing tools of the developers. The furnishings that one sees in them should be used as an idea for the optimum utilization of space available. It is not wise to completely go by the appearance of a furnished sample flat.

The Branch Director of a global realty consultancy states the significance of sample flat visits. The site visit of a sample flat is mandatory for the buyer purchasing a unit in a project that is under construction. This is also required in the case of an advanced buyer so that he or she can assess the value of the different non-structural interior specifications like the paint, fixtures or tiles and ask for alternative choices as per their taste or budget. Whereas, the buyer at an early stage will be able to get a real-time view of how the original flat will appear after completion, through a visit to the sample flat.

By visiting a sample flat, a buyer can get answers to questions such as if the carpet area is sufficient for meeting his or her family requirements and what is the best way of capitalizing the layout, as stated by the Director and Founder of an interior designing company in Mumbai.

Real Estate experts say that sample flats are effective tools for wooing customers. So, the buyer needs to identify whether the show flat matches his or her requirements and then decide on the value of the property.

A sample flat differs way long from the original one. You should not fail to notice that a show flat doesn’t possess any door or window and glass partitions are used, instead. The walls are not made of cement but gypsum board, so as to create an illusion of space. In most cases, the ceiling is constructed higher than that of the actual flat to impress the buyer with an illusion of openness and less loading. Thus, do not simply go by the aesthetic appeal since the design or decor may not match with the original one.

In the words of the homebuyers, these sample flats are enabled with outstanding finishes so as to lure customers and add more value to the property. Undoubtedly, these can be used as references for designing one’s own naked apartment. To get a clear picture, one has to view the project’s layout map and architectural drawing.

Has this information helped you? For any assistance you need while renting, selling or purchasing a property, get in touch with Transventor Property Management Services Pvt Ltd. We provide our clients with accurate solutions that fulfill their requirements.

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Plea for Fixing the GST Rate at 6 Percent

National Real Estate Development Council (NAREDCO) has earnestly asked the Government to change the GST rate for the realty sector, from 12% to 6%, that means half of what it is at present. They feel that this will encourage the buyers to purchase housing projects that are under construction.

A statement of NAREDCO confirms that it strongly desires a change in the GST rate from 12 to 6 percent and has requested for the same to the Government. This demand was placed by the association during its meeting with Minister of State for Finance and Finance Secretary.

As said by the concerned body of realtors, the GST rate has been fixed at zero percent for the ready-to-move-in projects whereas the projects under construction are subject to a rate of 12 percent, at present.

The GST rate for the housing projects with units ranging up to sizes of 60 square metres, is eight percent. These projects fall under the affordable housing segment with special schemes. NAREDCO has urged the Government to fix the GST rate at 6% in the case of all segments of housing projects without maintaining any difference in the rates.

The importance of the meeting can be assessed through the presence of the President and Chairman of NAREDCO, on behalf of the entire delegation.

In the words of the NAREDCO Chairman, the realtors’ body is trying to get the Government, fix the new GST rate as proposed by them, along with the credit of input tax. They feel that a 6% GST with input tax credit will help in increasing the demand of homebuyers, in the long run. Buyers wish to benefit but they can do so only when the benefits are passed onto them by the developers. He further added, that this will result in more demand for properties, which in turn will help the Government to collect more taxes.

NAREDCO feels that a rate of 6% GST will encourage investments from buyers, in properties that are under construction. They won’t keep waiting for investing in a project till its completion, so as to save on the present rate of GST, that is 12%. 

Did you find the information helpful? To stay updated with the latest headlines of the country’s Real Estate sector, get in touch with Transventor Property Management Services Pvt Ltd. We are here to guide you in any step where you may falter during the purchase, sale or rent of a property.

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Factors that Determine How Well Designed the Floor Plan of an Apartment Is

Several aspects need to be considered when buying a home, after all, it is your hard-earned money that goes into it. Of these, the floor plan is an important aspect that should not be ignored at any cost. But how will you get to know if a floor plan is good or not? Well, given below is a list of tips that you may follow.

Size of the Rooms

Check out if the room size is a minimum of 10 feet wide and 12 feet long. The average size of the bed in India varies from 7 to 9 feet in length. A minimum of additional 5 feet space in the room is required for free movement.

Bathroom Floor

The gradient of the bathroom flooring is a major problem that many, face, and changing the same can turn out to be an expensive affair. The number of bathrooms usually vary with the BHK size and nothing much needs to be figured out about it.

Balcony

FSI (Floor Space Index) does not count the area kept for constructing balconies. This is often included in the carpet area, by the builders. Thus, you can opt for a single large balcony instead of multiple smaller ones. This will help you save on room space and also assure you with proper ventilation.

Dining and Kitchen

Another way of recognizing a good floor plan is by finding out if the kitchen is open and the dining area is located by its side. These areas of the home are used throughout the day and so they should be well connected with the other parts of the house for easy access.  Besides, an open kitchen gives a spacious look to the common area. But make sure that it is not located towards the entrance.

Space for Furniture Arrangement

The hall comprising the kitchen, dining, and living areas, must be spacious enough for you to place the furniture items at a minimum gap of 3 to 4 feet with the wall, or at different angles so that your home doesn’t appear congested.

View

A good floor plan will never block the view of the interiors and at the same time, will keep the living room as the first sight of the visitor.

No Compromise on Space

It is only the carpet area of the house that is usable and not the super area according to which the developer charges a buyer. You need to ensure if the loading in the floor plan is within a range of 25 and 30 percent. Or else the spaces of the common area will get reduced. The term “loading” refers to the difference between the super area and carpet area.

Hope, the reading was helpful. For more of such relevant information or any assistance, do get in touch with Transventor Property Management Services Pvt Ltd. We are a Real Estate marketing and management that offers end-to-end solutions for any difficulty that you may face when renting, buying or selling a property.

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Will the Increasing Carpet Area Revive the Real Estate Market?

Developers have been found to question the implementation of the CLSS (Credit-Linked Subsidy Scheme) by the Government headed by PMAY (Pradhan Mantri Awas Yojana).  It has been introduced for the benefit of buyers belonging to middle-income groups so that they can avail home loans with interest subsidy.  The Cabinet’s decision on last Thursday approved of the increase in carpet area of houses that fall under this category.

Effective since 1st of January, 2017, the carpet area has been increased from 90 to 120 square metres and from 110 to 150 square metres in the case of MIG-1 and MIG-2 homes, respectively. The Government feels that the easy availability of loans and increased carpet area under CLSS will attract first time buyers from urban India.

In the words of a developer, CLSS is not advantageous to the buyers from lower income groups and economically backward sections. Besides, a subsidy comprising 10 to 25% of the unit’s cost is not a sufficient incentive for the buyers. He thinks that a better way of increasing sales would be by doubling the subsidy and introducing an amendment in the MIG income.

A research report reveals an increase in the carpet area from 969 to 1,292 square feet and 1,184 to 1,615 square feet for MIG-1 and MIG-2 houses,  respectively. These relaxations won’t work much in attracting buyers unless the amount of interest subsidy and loan is increased. According to the President of CREDAI Maharashtra, the middle-class buyers in smaller cities and towns will be able to afford homes that are much better in quality, under the Housing for All Scheme that is expected to come into effect by 2022.

The developer also added that the demand for affordable housing has declined from 18.8 to 10 million while 96% of these units fell under the LIG (Low Income Group) and the EWS (Economically Weaker Sections) category.

On the other hand, the Chairman of CREDAI Pune speaks in favour of the Cabinet’s decision. He views it as a great means of recovering sales in such a year-long market slowdown. The decision will push the developers in creating improved layouts for apartments with carpet areas ranging from 120 to 150 square metres. At the same time, the middle-income buyers will not feel deprived since homes with such carpet areas are no different from the regular ones.

If you want more of such relevant information then feel free to get in touch with Transventor Property Management Services Pvt Ltd. We are a marketing and management company in Kolkata that caters to your requirements related to the sale, rent or purchase of any property.

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Which Floor to Choose When Buying Apartment in a High-Rise ?

With the increasing growth of population and dearth of space, urban Kolkata is taking the shape of high-rises and so are the other parts of the country. High or low floors have their own benefits as well as disadvantages. Given below is a list of factors that you should think on before making the final decision since this is the matter of a lifetime and your every penny counts.

Higher floors offer the view of the skyline, no doubt. But the view matters only if the project locality features any scenic place.

Secondly, know yourself and find out the extent to which you wish to enjoy privacy. An apartment on the lower floor may make you feel distracted. If you are the one who loves to be in solitude, opting for a higher floor would be appropriate.

Noise is a serious issue and not to be ignored since it can be quite irritating, especially for them who stay at home throughout the day. But if the apartment is away from the clubhouse, stairs or elevators, and not located in the common passage then the ground floor is the perfect option, especially for the aged members of your family. On the contrary, a higher floor will keep you away from the street noise.

An apartment on the higher floors will fetch you high electricity bills during summer with the increased running of air conditioners round the clock. But that is not a permanent issue since it will change with the season.

Elevators are after all man-made and run on electricity. Modern residential complexes provide 24x7 power facility but still who can stand power-cut due to natural calamities? In this context, sub or ground floor would certainly be a worthy choice. Walking up and down the stairs once or twice a day can help you maintain your physical fitness as well.

Mosquito intrusion in homes has become a serious threat to life. Higher floors being more exposed to daylight and air than the lower ones, avoid such issues.

Coming to water seepage, it is only the topmost and the ground floor that faces the trouble if any. But it is dependent entirely on how much developed the sanitary and drainage mechanism of the residential hub, is.

The ground floor or a few above it are best if you have plans of offering your apartment on rent, in the times to come. The thought of burglary attacks should not stop you from selecting the ground or a lower floor since the residential complexes are nowadays enabled with technologically advanced security systems.

Hope, this information has helped you. For any other assistance, reach us at Transventor Property Management Services Pvt Ltd. We are there to guide you in any confusion or difficulty you face while renting, buying or selling a property.

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Homebuyers Getting Increasingly Cautious

Previously, homebuyers would judge a developer on the basis of how big a name it is in the Real Estate sector. But now, the solvency of the developer has become the major concern for them, based on which they are selecting properties for purchase.  

The strong cases of insolvency relating to some of the big-budget realty firms have really shocked the buyers. Who would like to lose out on one’s lifetime savings and that too, without gaining possession of the property? According to the experts, diversion of funds or late delivery by the developers were the factors that led to the decision-making of the buyers.

It seems to be quite worrying for the builders since homebuyers could finally realize that the bigger names in the market are the ones that are most at fault. The factors that are emphasized in the current period, by the buyers, are:

Actual insolvency of the builder or willful default

Past record of project delivery

Financial health

The progress level of an under-construction project is also being given importance to, by the buyers while deciding on the property for purchase.

As said by the Director of CRISIL Research, the demand in the realty market of the Delhi-NCR has decreased significantly in the recent 4 to 5 years and there aren’t chances of recovery in the medium term.

Buyers are also looking into the fact whether the projects in which they are about to invest, have been registered with the regulations of RERA or not. Even the most reliable developers have not delivered their projects on time. The several disputes in the industry have caused the investor community as well as the end-users to lose confidence.

As per the CRISIL reports, buyers will regain confidence only if they find that RERA is supporting their interests. The current scenario shows an increased preference for ready-to-move-in homes by the buyers. This is due to the record of major delays faced by them in the past, for acquiring possession of the property purchased.

Hope the reading was helpful. For more of such relevant updates, get in touch with Transventor Property Management Services Pvt Ltd. We are a Real Estate Marketing and Management company that provides end-to-end solutions for any requirement of yours regarding the sale, rent or purchase of a property.

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Shukhobrishti – For Stylish yet Simple Living

Shukhobrishti is well connected with the major areas of Kolkata including Sealdah, Howrah Stations and the Airport. For those of you planning to settle in Kolkata, Rajarhat is one of the best locations and so is this residential complex.

Well defined roads will allow you to take long walks whenever you wish to. The underground water supply is a blessing since water in these areas usually contain a high percentage of iron and does not taste good. A central water body with extensive landscaping; just imagine how picturesque it would be. Enabled with proper sewerage and drainage treatment, there will hardly be any water logging during monsoons.

Apart from the electricity and telecommunication network, Shukhobrishti also makes room for 11 KV distributing substations and 33 KV receiving substation, with a closed circuit television near its entry gate.

Recreational facilities are also available along with separate play area for children. The health centre is a great benefit, especially for the aged members of the family who cannot travel much. Unlike any other residential project, Shukhobrishti makes room for a primary school. This is a great advantage for you so that you can be by the side of your little one when going to school for the first time.

An amphitheatre in the residential area is quite a new and refreshing way of arranging society meetings or functions in the open air. The landscaped courtyards add to the list of amazing opportunities that you will be getting here for a healthy lifestyle.

Ample parking space, both covered and uncovered, for cars and two-wheelers, will make you receive more guests at your place since they won’t face any problem in parking their cars unlike in most localities.

A shopping arcade based on a huge area of 5 lakh square feet is a paradise for all those who love shopping. Besides, there are speciality retail stores to fulfill every need of yours without even having to go miles, in the bustling crowds of the city on a daily basis. Both high and low budget shopping facilities are available to all. An apartment within this residential area will offer you a comfortable lifestyle, away from the madding crowd and pollution of the city.

Hope, this reading was useful. If you are in search of a new home or any information regarding it then do contact us at Transventor Property Management Services Pvt Ltd. Staying updated with all Governmental regulations and undergoing extensive market research are our key strengths that make us meet our clients’ needs in an efficient way. We deal in the sale, rent and purchase of real estate.

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Buy a Flat and Get a Car Free.

Contact us to avail the offer.

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Kolkata West International City: Another Name for Luxury

Kolkata West International City is offering modern bungalow sale in Kolkata for buyers in search of luxury homes. It is much more than a residential complex with mere apartments and lifestyle facilities. It is a locality on its own and opens up a new world to you away from the city crowd.

It offers a well-planned infrastructure comprising internal roads along with landscaped pavements. Thus, the aged and the kids are safe when strolling or walking in the complex. Driving on such wide-spaced roads is an enjoyment that one is deprived of when making way through the heavy traffic in the city streets.

Staying indoors and fitting with the iPhone or iPad is the activity that the youth of today mostly indulge in. The thought traveling in a crowded bus for going to the gym or basketball court, makes them stay back at home. But things can take a turn with you feeling the urge to walk down to the gym or the basketball court. The complex offers facilities for such activities including four parks where even the kids can play. The recreation center and the gym are the added advantages.

If you are in search of a ready to move bungalow in Kolkata, what better option can you get than this? Enabled with medicine shop and retail stores, the residential hub meets all your necessary supplies especially at times when you need them the most.  

Proper lighting of the internal roads and the residential areas makes the complex a safe and secure place for the residents. Many of the owners are the old parents of those who have migrated to other cities in order to pursue their career. The entire complex has been designed with special importance to the care of the old and the children. Hence, AC transportation service is also rendered free of cost.  Nonetheless, a 24x7 security service keeps all the intruders in strict vigilance and safeguards the inhabitants.

For more information regarding modern bungalow sale in Kolkata, do contact Transventor Property Management Services Ltd. We meet all your queries and search properties that best suit your needs.

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2BHK, 3BHK Ready to Move Flat for sale at Avidipta in Kolkata, West Bengal. Price 38L onwards, Call @ 7603032796.