Friday, 8 December 2017

Five Powerful Tips for Realtors to plan their Digital Strategy for 2018

Dear Realtors, 2018 is knocking at our doors and while most us are making plans for exciting New Year parties and shopping sprees, it wouldn’t be a bad idea to give shape to the upcoming year’s business plan too.
How about reviewing last year’s strategy and evaluating what worked for you and what didn’t?
Is there any business challenge that you could have managed in a better way?
Eliminate the fluff and trim some excess weight your business has put on and welcome the New Year in a brand new avatar. The real estate industry is turning over a new leaf and your buyers and sellers are getting increasingly dependent on digital information and seamless transactions. That’s why it should be your priority to enhance your presence in the digital world and implement processes accordingly.

The following tips are worthy of a look and will assure you of a robust digital strategy in 2018:

1.    Focus on Personal branding this year: It is time to use the entire goodwill that your business has created over the past year and utilize it to create a personal brand. Pushing the value of your organization in the digital world will ensure that your business receives more eyeballs than ever before. Connect to a professional digital marketing firm and focus on improving public relations that will give your business the necessary impetus right at the beginning of the year.
2.     Revitalise your website: Modern day clients are known to visit a business website first and then call to discuss details. Since digital is the way to go, ensure that your first impression is as impressive and impactful as possible. Check your website now and infuse it with some new energy by altering its design and content so that your clients can relate to it easily. Check if navigation is simple and provides all the necessary information without much fuss. Most clients access information on their mobile phones and tablets to make sure the website is mobile-friendly too.

3.    Create a blog: There is no better way than creating a niche blog to get people talking about you and noticing your business in the digital world. People are on constant lookout for quality information and if it is relevant to their needs and updated, you are assured of a continuous flow of visitors (read potential customers). Push your blog and its content on social media and build a loyal following that will grow steadily as time goes by. As a Realtor, your blog can be very effective you in branding you as the Local Specialist and the go to guy.... think about it. 

4. Communication is the key: If you want to share your story and ideas with the right type of audience, there is no better way than the digital way. Build a sense of anticipation around your story and personalize it as much as possible to suit your audience’s needs. Use CRM platforms or email marketing campaigns to ensure consistent communication with your potential customers. Draw up a budget and arrive at the most cost-effective ways of reaching out using multiple delivery points. Facebook, Twitter, Blogs and emails can form a great mix of communication with existing and potential customers.

5. It’s the time for Video: The visual medium has proved to be more effective than the written or spoken word and your business too could benefit if it is used in the right manner. Promote your business and attract a larger volume of clients by creating a short bio about yourself from a professional agency. It would also help if you could get a few of your clients to talk about you and your work. Share your latest success in the form of a video and create a dramatic impact on your viewers.

Explore the above tips with an open mind and bring in some dramatic changes to the way the world looks at your real estate business. The real estate industry is going through a metamorphosis and it’s definitely time your digital strategy is geared up to handle this change.

Create your BluePrint for Success in 2018 by using the digital medium and increase your market share by leaps and bounds. And don't forget to invest the requisite capital to do this...... Wishing you a bountiful 2018.

Credit : Ramprasad Padhi 

Saturday, 25 November 2017

Maharashtra to pay 5 times for agricultural & non-rural land

The decision would help in acquisition of land for big ticket infra projects like the Rs 46,000-crore Mumbai-Nagpur super expressway and other projects in the state

MUMBAI: In a decision that is likely to speed up acquisition of land for infrastructure projects in Maharashtra, the state government has cleared a move that would see agricultural land and land in no-development zones (NDZs) in non-rural areas fetch five times the market value.

The file was cleared by chief minister Devendra Fadnavissome days ago. The decision would help in acquisition of land for big ticket infrastructure projects such as the Rs 46,000-crore Mumbai-Nagpur super expressway and other projects in the state.

Government officials said the file suggesting a hike in compensation was put up by Maharashtra State Road Development Corporation as people in non-rural areas were demanding the same amount of compensation (five times) that the state currently gives for acquiring land in rural areas.

However, in places such as Nagpur and metropolitan region Kalyan and other areas which have a development plan but are not under any municipal limit, the current compensation for land is only 3.75 times of the ready reckoner rate or rate of the last purchase, whichever is higher.

“This led to a difficulty in acquiring land for projects such as the Nagpur-Mumbai expressway as those who owned the land asked why the government was paying them less than what people in rural areas get. We studied the demand and found that it made sense and hence we have decided to implement it,” said a government official.

The state government gives a compensation five times of the land value to those who willingly (negotiated purchase) hand over their land to the state.

However, the increased compensation will not be applicable for land within municipal council and municipal corporation limits. “This will not be applicable here, as the ready reckoner rate in municipal limits is already very high,” said the official.

Officials hope that the new move by the state government would give a fresh impetus to land acquisition for the Mumbai-Nagpur expressway project.

The state wants to acquire 10,000 hectares of land for the project but has struggled to secure consent of landowners on the route. It wanted to start construction on the route by December. However, it has now pushed the deadline to January 2018 as land acquisition is still not complete.

Tuesday, 21 November 2017

RERA helps Haryana mop up Rs 1,170 crore as EDC from realtors

HRERA cannot directly claim EDC but it is issuing letters to developers through the department of town and country, saying registrations won’t happen unless EDC dues were cleared.

GURUGRAM: The interim Haryana Real Estate Regulatory Authority (H-Rera) has recovered Rs 1,170 crore in external development charges(EDC) from developers across the state in just three months, from August to October this year.

According to officials, the amount has been recovered from developers who had not paid the mandatory EDC for their real estate projects in the state but had to do so to get their new projects registered under the new real estate law.

HRERA cannot directly claim EDC but it is issuing letters to developers through the department of town and country, saying registrations won’t happen unless EDC dues were cleared.

Dilbagh Singh Sihag, executive director of the interim H-Rera, said the EDC collection was a major achievement for the newly formed body and might cross the Rs 2,000 crore-mark as more registrations happen under the new law. He, however, did not specify the number of developers from whom the charges have been recovered.

EDC is collected by the government for infrastructure development.

The interim H-Rera was instituted in July and the state government has promised to appoint the permanent body by the end of the year. “Even though the permanent H-Rera is under formation, we have been working full time and issuing notices to all erring developers over EDC and for not registering their projects under H-Rera or advertising projects without registration under the act,” Sihag said, adding the H-Rera website would be ready in another two months.

Sources from the industry confirmed the government had been issuing letters repeatedly to developers, asking them to pay EDC. State finance minister Capt Abhimanyu Singh had said at an event earlier this year that developers owed the government Rs 17,000 crore in EDC, in Gurgaon and Faridabad alone. Chief minister Manohar Lal Khattar on a recent visit to Pataudi had also asked developers to clear their dues.

Opposition leader Abhay Singh Chautala had recently written to Khattar, asking him to not appoint retired bureaucrats who were connected to “controversial” land deals in the state in HRera. Following this, a retired Haryana Civil Services officer had filed a petition in the Punjab and Haryana high court, alleging that the appointment criteria was tailormade to suit a few officers. All this has delayed the setting up of the permanent HRera and it remains to be seen if it gets done by the end of this year.

Realtors owe the state government Rs 18,563 crore in the form of EDC. Of this, the realization of Rs 4,322 crore is under doubt because of legal challenges.

Saturday, 11 November 2017

Over 1000 new FPIs registered with SEBI

Over 1,000 fresh foreign investors were registered with Sebi in April-September 2017-18, primarily due to their continued interest in the Indian capital markets, latest data from the regulator showed.

This comes on top of close to 3,500 new foreign portfolio investors (FPIs) registering with Sebi in the past financial year.

According to Sebi data, the number of FPIs with the regulators approval increased to 8,826 at the end of September 2017, from 7,807 at March-end, resulting in an addition of 1,019.

“The reason for increasing FPI registrations is continued interest in the Indian equity, bonds and real estate,” said Arvind Chari, head, fixed income and alternatives, Quantum Advisors.

“Besides, the end of the earlier FII/sub-accounts regime, which ended in September 2016, necessitated all such entries to register as FPI,” he added.

Further, market experts are of the view that several measures taken by the Sebi added to Indias attractiveness.

Also, foreign investors have pumped in more than Rs 95,500 crore into the Indian capital markets – equity and debt – during the period under review.

In June, the board of Securities and Exchange Board of India (Sebi) decided to ease the entry norms for overseas investors by permitting direct access to FPIs from eligible jurisdictions.

Recently, Sebi raised FPIs investment limit for government debt, permitted them to invest in unlisted corporate debt as well as securitised debt instruments and allowed direct entry to well-regulated foreign investors to invest in corporate bonds.

In a big revamp, Sebi in 2014 released norms that clubbed different categories of foreign investors into a new class called FPIs. They have been divided into three categories as per their risk profile and KYC (know your customer) requirements while other registration procedures have been made simpler.

Tuesday, 7 November 2017

North Mumbai to be the next place for realty growth

Owing to massive infrastructure push by the state government towards easing commuting in western and eastern corridors of the megapolis, northern region will continue to be at the epicentre of real estate activities in future.

“North Mumbai has been very active on real estate and infrastructure front off late. Connectivity with this region has improved substantially due to the various projects undertaken by the government,” Jone Lang LaSalle Head Research and REIS Ashutosh Limaye said.

The north Mumbai region spans from Bandra to Dahisar, from Kurla (Chunabhatti) to Mulund and from Kurla up to Trombay Creek.

According to JLL, north Mumbai has about 15 million sqft (square feet) of Grade A office space and more companies are choosing to move to this area.

“North Mumbai is unlocking its potential to new scale and will continue to be at the epicentre of the real estate and infrastructure activities in future as well,” he said.

According to JP Infra Chief Operating Officer Ajay Nair, the infrastructure projects undertaken in this region will result in increased residential and high quality social infrastructure developments in all the new micro markets here.

Coastal road, Mumbai Trans Harbour Link, Mulund Goregaon link road, Colaba-Seepz, Dahisar to DN Nagar and Dahisar east to Andheri metro corridors and elevated roads are some of the major projects the government has undertaken to improve the east-west connectivity.

“Infra push has resulted in real estate boom in northern Mumbai offering amenitised products even in lower ticket bracket from branded developers for work-life balance and luxury living,” Omkar Realtors Director Devang Varma said.

Ravi Group Director Gaurav Shah said that from the perspective of investment in residential in south Mumbai is very capital intensive and therefore the northern region is becoming as a preferred investment destination.

He further said, south Mumbai is continuing to face a space crunch and non-availability of smaller tickets size apartments and, therefore, the micro markets like Goregaon, Malad, Kandivali, Mira Road, Powai, Vikhroli, BKC East, Ghatkopar and others are witnessing an emergence of budget homes offered by varied developers like JP Infra, Sai Developers, Lodha Builders, Ravi Group of Companies with options ranging from 1, 1.5 and 2 BHK apartments in the price bracket of Rs 40-70 lakh.

Friday, 27 October 2017

From Nov 1, govt owned properties to be rented out through online service in Maharashtra

In Mumbai city alone, there are over 1,200 leased properties by Maharashtra government.

MUMBAI: The Maharashtra government has shifted annual rent agreement renewal procedures within the departments to its digital platform.

From November 1, the government owned properties will be rented out through online service -- which will essentially save time of the authorities.

A Government Resolution (GR) issued yesterday stated that there are several rent agreements processed by the Public Works Department (PWD) every year, where government owned land or buildings are rented out for public interest.

Henceforth, such agreements will be carried out through e-rent service, provided on the website

In Mumbai city alone, there are over 1,200 leased properties by Maharashtra government.

The actual number of properties leased by Maharashtra government across the state would be huge and with online processing of lease agreements, it will save a lot of time and money of people from outstation who had to visit to Mumbai for renewal of fresh lease agreement, said a senior officer from PWD department.

The executive engineer of PWD department from respective district has been given the responsibility to take final decision in lease agreement procedures, mentions the GR.

It has also mandated PWD to publish a division-wise base rate at the beginning of the every financial year for easy calculation of rent.

The GR has further given a detailed list for calculating the rent for buildings with various amenities.

Monday, 23 October 2017

Maharashtra's housing societies in a fix over reserving posts for disadvantaged classes

The rules, which were introduced in 2014 but are being enforced strictly only now, are applicable to societies with less than 200 members. Such societies are categorised as D-Class

Residents slam ‘impractical’ rules which require small co-op societies to reserve spots in managing panels for members from disadvantaged classes.

Co-operative housing societies are baulking at new government rules which require them to conduct elections under a state body’s direction and reserve some posts in their managing committees for members from disadvantaged social classes.

The rules, which were introduced in 2014 but are being enforced strictly only now, are applicable to societies with less than 200 members. Such societies are categorised as D-Class.

Many residents Mirror spoke to said their societies barely had enough members in the general category to fill committees, leave alone appointing people for the reserved categories.

“These rules are impractical. They were drafted for sugar co-operative societies. How can the government apply them to small housing societies?” said Nitin Gadekar, a resident of Sukh Nivas on 17th Road, Khar West. “Not every society has members from underprivileged classes. So what should they do in that case?”

There are 30,447 D-Class societies in Mumbai. The changes introduced under the Maharashtra Co-Operative Societies Act, 1960, require them to have a managing committee with a strength of 11. Two posts will be reserved for women and three for members from disadvantaged classes such as Schedule Castes and Scheduled Tribes. It is mandatory for the colonies to conduct polls under the supervision of the Pune-based State Co-operative Election Authority. Also, the office-bearers will have to undergo training to understand the workings of a co-operative society.

“We are a small society with only 15 members and we will have to call a high-ranking official from Pune to conduct elections. This is ridiculous,” Gadekar said. “There is no clarity on how election training will be conducted. Most societies are not even aware of the changes.”

The State Co-operative Election Authority has roped in the Maharashtra Societies Welfare Association to organise training and guidance camps.

Rakesh Nangia of Khar Modern CHS said his society had only five active members and it would find it hard to comply with the new rules. “One member sold his property and a tenant has been staying there for the past 60 years. There is nobody to run the society,” he said.

Akash Bhatia of Anjali CHS in Mahim said the colony mostly had female members in their eighties and they cannot contest elections.

Myra Lewis from Parmeshwar Darshan CHS on 2nd Hasnabad Road, Santacruz, said being an East Indian, she had filed her nomination as an OBC candidate. “But we don’t have any SC/ST candidates and we won’t be able to fill up that vacancy,” she said.

Mahendra Mhaske, district deputy registrar III, said if societies didn’t have members from the reserved categories, the corresponding positions in the managing committees would remain vacant. “Society representatives will have to undergo training. It’s compulsory. They should be aware of all the provisions of the Maharashtra Co-operative Societies Act, and the duties,” he said.

He added that D-Class housing societies would have to submit their voter lists to the respective ward officer.

These changes came into effect in November 14, 2014, but officials learned only recently that most colonies were not aware of it.