tag:blogger.com,1999:blog-16378130832545597722024-03-13T09:11:04.078-07:00Area MumbaiAnonymoushttp://www.blogger.com/profile/10037855294024770937noreply@blogger.comBlogger237125tag:blogger.com,1999:blog-1637813083254559772.post-19492096952783579752018-08-28T02:57:00.002-07:002018-08-28T02:57:40.121-07:00Apartment sizes shrink in 7 major cities in 5 years<div dir="ltr" style="text-align: left;" trbidi="on">
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<b><span style="color: black; font-size: 16.0pt; line-height: 107%; mso-themecolor: text1;">In percentage terms, the drop is maximum in
Bengaluru (21%), where the average apartment area has reduced from 1,750sqft to
1,375sqft<o:p></o:p></span></b></div>
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<span style="color: black; font-size: 13.0pt; line-height: 107%; mso-themecolor: text1;">The average sizes of apartments promoted by the developer
community have shrunk in all major cities in the country over the
last five years as promoters have been making efforts to fit their projects
into the "affordable housing" bracket.<o:p></o:p></span></div>
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In percentage terms, the drop is maximum in Bengaluru (21%), where the average
apartment area has reduced from 1,750sqft to 1,375sqft. Pune recorded
a 19% fall, NCR 17%, Mumbai Metropolitan Rrea (MMR) 17% and Chennai 15%,
says a report by Anarock Property Consultants.<o:p></o:p></span></div>
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With a view to ensuring housing for all by 2022, the Union government has gone
the extra mile to make things happen. Still, the developer community is nowhere
near fulfilling the affordable housing demand in the country as most of them
are not catering to the needy, says the study. "Unfortunately, what we
have seen so far is more marketing hype than genuinely affordable
housing," said Anarock chairman Anuj Puri.<o:p></o:p></span></div>
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The term affordable is being misused by most developers to show that they align
with the ‘housing for all’ mission, he said. Going by the ministry of housing
and urban poverty alleviation’s definition, dwelling units between 300sqft and
500sqft valued at less than `5 lakh are affordable for the economically weaker
sections. The numbers change for the low income group (LIG) and middle income
group (MIG). RBI’s norms to qualify for incentives meant for affordable housing
say the dwelling unit should not cost more than Rs 45 lakh in metros and not
more than Rs 30 lakh in non-metros. Out of 22,120 dwelling units launched in
the second quarter of 2018 in the top seven cities, only 46% qualified for the
affordable housing segment, he said. Of them, 6,530 units were priced at less
than Rs 20 lakh per unit and the remaining were between Rs 20 lakh and Rs 40
lakh, he said. Between the first and second quarter this year, there was a 100%
increase in supply in the affordable housing segment, said Puri.<o:p></o:p></span></div>
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<span style="color: black; font-size: 13.0pt; line-height: 107%; mso-themecolor: text1;">Puri advocates promotion of rental accommodation for
those who cannot afford to buy own apartments. "This is quite a challenge,
considering that the Indian real estate market now favours end-users
and remains unattractive for investors," he said. What is required is
exempting affordable housing from GST altogether to attract more investors, he
said.<o:p></o:p></span></div>
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<span style="color: black; font-size: 13.0pt; line-height: 107%; mso-themecolor: text1;"><a href="https://realty.economictimes.indiatimes.com/">https://realty.economictimes.indiatimes.com/</a>
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Anonymoushttp://www.blogger.com/profile/10037855294024770937noreply@blogger.com0tag:blogger.com,1999:blog-1637813083254559772.post-32824143739638692152018-08-23T07:15:00.000-07:002018-08-23T07:15:03.990-07:00New Zealand passes ban on foreign homebuyers into law<div dir="ltr" style="text-align: left;" trbidi="on">
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<b><span style="font-size: 16.0pt; line-height: 107%;">Jacinda
Ardern, New Zealand's popular 38-year-old prime minister, campaigned before
September's election on a promise to clamp down on house price growth and
reduce high rates of homelessness, in part by banning foreign buyers<o:p></o:p></span></b></div>
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<span style="font-size: 13.0pt; line-height: 107%;">WELLINGTON:
New Zealand's parliament passed a law on Wednesday to ban many non-resident
foreigners from buying existing homes, completing the Labour-led government's
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<span style="font-size: 13.0pt; line-height: 107%;"><br />
Jacinda Ardern, New Zealand's popular 38-year-old prime minister, campaigned
before September's election on a promise to clamp down on house price growth
and reduce high rates of homelessness, in part by banning foreign buyers.<br style="mso-special-character: line-break;" />
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"This is a significant milestone and demonstrates this government's
commitment to making the dream of home ownership a reality for more New
Zealanders," Associate Finance Minister David Parker said.<br style="mso-special-character: line-break;" />
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Foreign ownership has attracted criticism in recent years as New Zealand
grapples with a housing crunch that has seen average prices in the largest
city, Auckland, almost double in the past decade and rise more than 60
percent nationwide. <o:p></o:p></span></div>
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<span style="font-size: 13.0pt; line-height: 107%;">House price
growth has tapered off in the past year in part due to restrictions imposed on
lending by the central bank, which was becoming alarmed at the potential
financial stability risk of an overheated market.<br style="mso-special-character: line-break;" />
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Figures released by the Real Estate Institute of New Zealand on Wednesday
showed median house prices had slipped 1.8 percent to NZ$550,000 ($360,140) in
July from the previous month, although they were still 6.2 percent higher than
the same time the previous year. <o:p></o:p></span></div>
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The government slightly relaxed the proposed ban in June so that non-residents
could still own up to 60 percent of units in large, newly built apartment
buildings but would no longer be able to buy existing homes.<br style="mso-special-character: line-break;" />
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The International Monetary Fund called on the government in July to
reconsider the ban, warning the move could discourage foreign direct investment
necessary to build new homes.<br style="mso-special-character: line-break;" />
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Official figures suggest that the overall level of foreign home buying was
relatively low - about 3 percent of property transfers nationwide. <br style="mso-special-character: line-break;" />
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However, the data did not capture property bought through trusts and also
showed property transfers involving foreigners was highly concentrated in
certain areas, such as downtown Auckland and the southern scenic hot spot of
Queenstown.<br style="mso-special-character: line-break;" />
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The majority of overseas buyers were from China and neighbouring Australia,
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"Is the ban wise or useful? We think it's neither," said spokesman
Dave Platter of Chinese real estate portal Juwai.com.<br style="mso-special-character: line-break;" />
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"Foreign buying ... tends to be focused on new development, making clear again
that foreign investment leads to the creation of new dwellings. That's vital in
a market with a housing shortage, like Auckland," he said. <br style="mso-special-character: line-break;" />
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<span style="font-size: 13.0pt; line-height: 107%;"><br />
The government has said the ban would not apply to Australians and has been
negotiating with Singapore, whose free trade agreement with New Zealand allows
foreign ownership, on whether to grant an exemption.<o:p></o:p></span></div>
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($1 = 1.5272 New Zealand dollars)<br style="mso-special-character: line-break;" />
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(Editing by Paul Tait)<o:p></o:p></span></div>
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<span style="font-size: 13.0pt; line-height: 107%;">Credit : <a href="https://realty.economictimes.indiatimes.com/">https://realty.economictimes.indiatimes.com/</a>
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Anonymoushttp://www.blogger.com/profile/10037855294024770937noreply@blogger.com0tag:blogger.com,1999:blog-1637813083254559772.post-47238688421186341382018-08-17T04:01:00.001-07:002018-08-17T04:01:09.956-07:00Home Credit leases 1.5 lakh sq ft at Empire Tower in Navi Mumbai<div dir="ltr" style="text-align: left;" trbidi="on">
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<b><span style="font-family: "Times New Roman",serif; font-size: 16.0pt; line-height: 107%;">The total lease tenure is five years
including a rental reset after three years from now. The company will be paying
rental of Rs 55 per sq ft a month, taking the annual payout to nearly Rs 10
crore<o:p></o:p></span></b></div>
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<span style="font-family: "Times New Roman",serif; font-size: 13.0pt; line-height: 107%;">MUMBAI: Non-banking financial company Home Credit India
Finance has picked up around 1.5 lakh sq ft of office space on lease in
Reliable Group’s commercial project Empire Tower in Navi
Mumbai’s Airoli locality, said two persons familiar with the development.<br style="mso-special-character: line-break;" />
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The total lease tenure is five years including a rental reset after three years
from now. The company will be paying rental of Rs 55 per sq ft a month, taking
the annual payout to nearly Rs 10 crore.<br style="mso-special-character: line-break;" />
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“The deal has been finalized and the terms have been agreed upon. The company
has already started undertaking possession of the property for fit-outs and
furbishing,” said one of the persons mentioned above.<br style="mso-special-character: line-break;" />
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Home Credit India has operations in over 120 cities across 20 states in the
country. The company has a network of more than 26,000 points-of-sale (PoS)
serving over 6 million customers. Its employee base stands at over 16,000, and
the new office space is expected to accommodate 2,600 employees.<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 13.0pt; line-height: 107%;">Empire Tower is an IT park, part of the 5-million sq
ft commercial project Cloud City that has GE, HCL, Atop Origin, Sify,
Honeywell, and Sutherland operating from the campus. Recently companies
including Cipla, Aditya Birla Group subsidiary Birla Management Services, Tata
Consulting Engineers, Mersk GSC, Invenio and EFC have picked up total 3.5 lakh
sq ft office spaces here. <br style="mso-special-character: line-break;" />
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Most of these companies have set up their back office processing and consulting
units in Navi Mumbai, which has been emerging as a hub for these activities.
Several companies have shifted their office catering to these services from
central Mumbai, Powai, Vikhroli and Andheri-Malad belt to Navi Mumbai.<br style="mso-special-character: line-break;" />
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Reliable Group’s CEO Aaron Dlima confirmed the transaction, while ET’s email
query to Home Credit India Finance remained unanswered till the time of going
to press.<br style="mso-special-character: line-break;" />
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“We are strategically well placed as a location owing to the proximity of
public transport system (rail & road) , close to residential and commercial
areas of Thane & Mumbai and the solid new-age civic infrastructure of Navi
Mumbai which has led to large scale relocation and expansion on this belt,”
Dilima said.<br style="mso-special-character: line-break;" />
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Navi Mumbai is fast evolving as one of the key destinations for office
occupiers in recent times and has recorded 5.9% sequential rental rise during
the quarter ended June, said Colliers Research.<br style="mso-special-character: line-break;" />
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In the first half of 2018, office demand in this micro-market, which
constituted 6% of the total absorption recorded in the city was driven by
varied sectors including pharmaceutical, manufacturing, BFSI, IT/ITeS and
flexible workspace operators. The micro-market is expected to command higher
rents going forward aided by increasing demand from the BFSI sector for their
back-office operations, Colliers explained.<br style="mso-special-character: line-break;" />
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With the latest lease transaction of Home Credit India Finance, the project’s
occupancy stands at 40% and the company is in advanced talks to lease an
additional 3 lakh sq ft here.<br style="mso-special-character: line-break;" />
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Piramal Fund Management, the financial services arm of Ajay Piramal-led Piramal
Group, has deployed Rs 700 crore collectively against Reliable Group’s two
commercial properties, Reliable Tech Park and Empire Towers. <o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 13.0pt; line-height: 107%;">Credit : <a href="https://realty.economictimes.indiatimes.com/">https://realty.economictimes.indiatimes.com/</a>
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Anonymoushttp://www.blogger.com/profile/10037855294024770937noreply@blogger.com0tag:blogger.com,1999:blog-1637813083254559772.post-41670377167812856972018-08-06T04:25:00.000-07:002018-08-06T04:25:07.041-07:00Banks should refrain from raising interest rates: ASSOCHAM<div dir="ltr" style="text-align: left;" trbidi="on">
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<b><span style="color: black; font-size: 16.0pt; line-height: 107%; mso-themecolor: text1;">The RBI itself has stated in the credit
policy review document of August 1 that the "systemic liquidity has
remained generally in surplus mode during June-July period"<o:p></o:p></span></b></div>
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<span style="color: black; font-size: 13.0pt; line-height: 107%; mso-themecolor: text1;">MANGALURU: With surplus liquidity in the banking system,
the banks should not rush to increasing their lending and deposit rates despite
the Reserve Bank of India (RBI) raising the benchmark, repo rate,
the ASSOCHAM has said.<br style="mso-special-character: line-break;" />
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"In the policy presentation on August 1, the top RBI brass said it clearly
that there is generally a lag between the announcement of a rate change and
transmission in the system. If this holds true in the cases where the repo rate
was dropped, it should also hold true now that the benchmark lending rates have
been tweaked up," ASSOCHAM spokesman said.<br style="mso-special-character: line-break;" />
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The RBI itself has stated in the credit policy review document of August 1 that
the "systemic liquidity has remained generally in surplus mode during
June-July period". While the RBI has been doing a good job in managing the
day-to-day liquidity in the banking system, the banks need not rush into
raising the lending rates. The credit demand has not been rising with much of a
speed either. <br style="mso-special-character: line-break;" />
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"The state of economy is poised at a very delicate stage. There is an
upward growth bias; but it cannot be taken for granted. Interest sensitive
sectors like automobile, consumer durables, real estate have a great multiplier
effect and should not be burdened with the rising interest costs. Increased
interest costs act like a double whammy. The cost of production goes up while
consumer demand gets subdued," the spokesman said.<o:p></o:p></span></div>
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<span style="color: black; font-size: 13.0pt; line-height: 107%; mso-themecolor: text1;">"Let there be a lag between the increase in the Repo
rate and the transmission. On the other hand, the corporate India and the trade
would use this window effectively for bringing in operational efficiency so
that the effect on the ground does not show much of a cost change. The industry would
be able to absorb the cost while the consumers should continue giving a demand
push to the consumables," the chamber noted.<br style="mso-special-character: line-break;" />
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In this context, the GST Council, has done a commendable job in
responding to the situation and dropping the GST rates on a number of items.
"More items should be brought down from the 28 per cent slab to give a
push to the consumer demand. Combined with operational efficiency, the demand
should then remain strong. In the meanwhile, the banks should be refraining
from raising the interest rates".<o:p></o:p></span></div>
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<span style="color: black; font-size: 13.0pt; line-height: 107%; mso-themecolor: text1;">Credit : <a href="https://realty.economictimes.indiatimes.com/">https://realty.economictimes.indiatimes.com/</a>
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Anonymoushttp://www.blogger.com/profile/10037855294024770937noreply@blogger.com0tag:blogger.com,1999:blog-1637813083254559772.post-15712667665156925372018-07-30T06:13:00.000-07:002018-07-30T06:14:17.509-07:00Why Selling your home without a Realtor is a Nightmare you’d never want to see!<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-size: 21.3333px;">If you plan to sell your home without recruiting the services of a realtor, think again. You do not want to take such a massive risk while carrying out what is probably the biggest financial transaction of your lifetime, do you? By sidestepping this critical enabler, homeowners expose hard-earned money and valuable time to a larger risk, while frittering away some significant benefits.</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjYjo2bEXupkmJG0JwOalokVDdOWX5FGKFHpHDYxkuaqme3LGwd7nouYnJDveYbYFcaWs_bsPV8zV57_Zh-yW6hQuPm83fVP3VdrUZhXUEOiC4rXEHMQjsBDS1gnz2gWXujiu08VAZ0Ha1L/s1600/0.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="500" data-original-width="1000" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjYjo2bEXupkmJG0JwOalokVDdOWX5FGKFHpHDYxkuaqme3LGwd7nouYnJDveYbYFcaWs_bsPV8zV57_Zh-yW6hQuPm83fVP3VdrUZhXUEOiC4rXEHMQjsBDS1gnz2gWXujiu08VAZ0Ha1L/s640/0.jpeg" width="640" /></a></div>
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<span style="font-size: 21.3333px;">Most buyers/sellers who opt for this route, usually want to forgo the commission paid to the agent but fail to pre-empt the valuable benefits he offers in return. In fact, surveys have shown that such properties usually sell for a comparatively lower price than those sold with the assistance of a professional realtor.</span></div>
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<span style="font-size: 21.3333px;"><b>Before taking a decision, check out these proven benefits a realtor will bring to the table if you engage his services to buy or sell a property:</b></span></div>
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<span style="font-size: 21.3333px;">1. <b>Availability of Time</b>: Given the tight work schedules, you actually do not have time to show around the home and play the role of a real estate agent. How will you manage showing the home while you are out on a business trip or a vacation? Your friendly, neighbourhood realtor is ready to showcase your property at a short notice and collect the right feedback from prospective buyers about it too, by asking the right questions (could you do that?). He will even offer solutions to problems a prospective buyer perceives, especially those that could come in the way of concluding a deal.</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwoFyOROZM7f1ttW4Fi3c01bRX8yv5IM8gPtNpbS99TtFcik0NB1QVZp1zwxouAwF95eJfZrcZu2oPcVzMUxqH0BjoVbGFcRiIY6k0CBkMLHku3z9dwCWbC2l_a8M-pfqP8leHqCadtC2u/s1600/0+%25281%2529.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="225" data-original-width="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwoFyOROZM7f1ttW4Fi3c01bRX8yv5IM8gPtNpbS99TtFcik0NB1QVZp1zwxouAwF95eJfZrcZu2oPcVzMUxqH0BjoVbGFcRiIY6k0CBkMLHku3z9dwCWbC2l_a8M-pfqP8leHqCadtC2u/s1600/0+%25281%2529.jpeg" /></a></div>
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<span style="font-size: 21.3333px;">2. <b>Priceless Knowledge</b>: The domain knowledge that a realtor possesses is truly invaluable and as a layman it is difficult to match up to it. He knows how to pick holes in the story that the property websites weave around the home and provide valuable insights to the prospect. He is aware of the history surrounding the home and is able to turn it into a selling point.</span></div>
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<span style="font-size: 21.3333px;">3. <b>Marketing awareness</b>: While selling a property, image is of vital importance and you rarely get a second chance to create a good impression about your home. Professional realtors know how to “prepare” a home when a prospective buyer comes visiting or when property images have to be shared with an interested party. Marketing your property will need the expertise of a realtor and you wouldn’t want to miss out on this valuable quality for the sake of commission.</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiKwRCm1E7jknBOE0BMC4u1Qybf3Y1RqAhGQ1Rsk-NjRWRiG-_8C5Cv83AgUWBOQ9Dp4iDhdOQZ4Ty27DjYAQdlCeZajsQxrJgVg07u1mKn5DxOIuglG7YLt2JEAgBl-FqHQDf6j8VvOsES/s1600/0+%25282%2529.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="168" data-original-width="300" height="358" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiKwRCm1E7jknBOE0BMC4u1Qybf3Y1RqAhGQ1Rsk-NjRWRiG-_8C5Cv83AgUWBOQ9Dp4iDhdOQZ4Ty27DjYAQdlCeZajsQxrJgVg07u1mKn5DxOIuglG7YLt2JEAgBl-FqHQDf6j8VvOsES/s640/0+%25282%2529.jpeg" width="640" /></a></div>
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<span style="font-size: 21.3333px;">4. <b>Experienced negotiator</b>: When you engage a certified realtor and entrust the task of finding the right buyer for it, you get many bundled-up qualities too. His expert negotiation skills (due to the endless hours he has spent doing this) always keeps the buyer interested and he ensures that terms and conditions always work in your favour.</span></div>
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<span style="font-size: 21.3333px;">5. <b>Understands Closure</b>: There are dozens of things to be taken care of, after the deal is sealed in your favour. With a realtor managing things for you, you can be assured that last-minute issues and unexpected delays at the registrar’s office or loan formalities are taken care of. He is qualified enough to carry out firefighting activities whenever needed and this truly makes a realtor an indispensable part of a buying/selling process of a home property</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhYXKDhw9YvlfMvrVtSuhMmxwsSd_hEI2ucgaKTrZWMol_wCrW5wMHn-ejusPa3i-82yLSqmR_gtaJsJDud-sStOe52qhk0kHSdkDRoO2reAZqSNMvGyxgv-teJJzR-9p1URcxnEviDPHeg/s1600/0+%25283%2529.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="229" data-original-width="288" height="508" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhYXKDhw9YvlfMvrVtSuhMmxwsSd_hEI2ucgaKTrZWMol_wCrW5wMHn-ejusPa3i-82yLSqmR_gtaJsJDud-sStOe52qhk0kHSdkDRoO2reAZqSNMvGyxgv-teJJzR-9p1URcxnEviDPHeg/s640/0+%25283%2529.jpeg" width="640" /></a></div>
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<span style="font-size: 21.3333px;">6. <b>Safety</b>: With property portals and online agencies making the buying and selling easy, it has also attracted a lot of negative attention too. When you put up your home, its images and other details on the internet, you can expect unknown buyers wanting to see your home. You wouldn’t know the actual intentions or background of the so-called “prospect” since there is no agent who can verify that. Won’t this put your home and family at a risk? And all this because you do not want to pay a commission to the agent. Think again!</span></div>
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<span style="font-size: 21.3333px;">It makes great sense to appoint a certified realtor to help you to sell your property and avoid a lot of costly mistakes that could come back to haunt you in the future.</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj_Ng36gn9i4J8Lvn3KVu1AhZevs3VM27Gtw-x7zm_yXzT60skBVQz8q97q-EYoQw4BsxFVj_uu8UXLUca1znEnD8vEbjPf-WxaKt9foYl_DVtvHpzPMOvyYo56BffMkfnGSIItMuWGAUln/s1600/0+%25284%2529.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="199" data-original-width="253" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj_Ng36gn9i4J8Lvn3KVu1AhZevs3VM27Gtw-x7zm_yXzT60skBVQz8q97q-EYoQw4BsxFVj_uu8UXLUca1znEnD8vEbjPf-WxaKt9foYl_DVtvHpzPMOvyYo56BffMkfnGSIItMuWGAUln/s1600/0+%25284%2529.jpeg" /></a></div>
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<span style="font-size: 21.3333px;"><b>Use the professional services of a Realtor who not only helps you to protect your interests but will also justify your home’s value that is so rightly deserves.</b></span></div>
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<span style="font-size: 21.3333px;">Credit : Ramprasad Padhi</span></div>
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<span style="font-size: 21.3333px;">Founder & CEO – Mumbai Properties Consulting Pvt Ltd</span></div>
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<span style="font-size: 21.3333px;"><a href="http://www.mumbaiproperties.com/%C2%A0">http://www.mumbaiproperties.com/ </a></span></div>
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Anonymoushttp://www.blogger.com/profile/10037855294024770937noreply@blogger.com0tag:blogger.com,1999:blog-1637813083254559772.post-32882977618664305852018-07-23T06:00:00.000-07:002018-07-23T06:00:16.373-07:00Don't Hire the Wrong Real Estate Agent<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="color: black; font-size: 16.0pt; mso-themecolor: text1;">Buying a home is the biggest
investment you’ll likely ever make, and it has all sorts of implications for
your personal and financial future. This is why it’s so important to work with
the right agent.<o:p></o:p></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgA4T-J-7rKm_Xyp6cjhXeUSy44ztfLxCT7va4QK4Xp7-pqpMre84PT2fqt_tqQKhkygy4PrPgJ6NI_BkHLJnNMre7AJbPQnErIICs37HUIFfTz1fBEcSB7xOqk7_yr_7GAO8JyW_QH_aIL/s1600/0.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="148" data-original-width="341" height="276" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgA4T-J-7rKm_Xyp6cjhXeUSy44ztfLxCT7va4QK4Xp7-pqpMre84PT2fqt_tqQKhkygy4PrPgJ6NI_BkHLJnNMre7AJbPQnErIICs37HUIFfTz1fBEcSB7xOqk7_yr_7GAO8JyW_QH_aIL/s640/0.jpeg" width="640" /></a></div>
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<div style="-webkit-text-stroke-width: 0px; color: rgba(0, 0, 0, 0.7); font-stretch: inherit; font-variant-caps: normal; font-variant-east-asian: inherit; font-variant-ligatures: normal; font-variant-numeric: inherit; line-height: 24.0pt; margin: 3.2rem 0px; orphans: 2; outline: 0px; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="color: black; font-size: 16.0pt; mso-themecolor: text1;">Too many
people don’t realize just how much can go wrong if they make the wrong hire.
There are some very serious problems that can arise if you accidentally work
with the wrong person to buy or sell a home. Here are some of them:<o:p></o:p></span></div>
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<span style="color: black; font-family: "Helvetica",sans-serif; font-size: 16.0pt; mso-themecolor: text1;">1. Not listening<o:p></o:p></span></h3>
<div style="-webkit-text-stroke-width: 0px; color: rgba(0, 0, 0, 0.7); font-stretch: inherit; font-variant-caps: normal; font-variant-east-asian: inherit; font-variant-ligatures: normal; font-variant-numeric: inherit; line-height: 24.0pt; margin: 3.2rem; orphans: 2; outline: 0px; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="color: black; font-size: 16.0pt; mso-themecolor: text1;">A professional real estate agent (or any
other professional for that matter) will take the time to listen and understand
their client and the client’s needs. The wrong one, however, isn’t going to
listen to what you have to say, and will instead focus on what they want for
themselves.<o:p></o:p></span></div>
<div style="-webkit-text-stroke-width: 0px; color: rgba(0, 0, 0, 0.7); font-stretch: inherit; font-variant-caps: normal; font-variant-east-asian: inherit; font-variant-ligatures: normal; font-variant-numeric: inherit; line-height: 24.0pt; margin: 3.2rem 0px; orphans: 2; outline: 0px; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="color: black; font-size: 16.0pt; mso-themecolor: text1;">This will
set the precedent for the rest of the process and make any real estate
transaction a miserable experience. An agent who doesn’t take the time to know
your wants and needs will cause you stress, confusion and heartache.<o:p></o:p></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1M3WHULOXbvy2tQKndb_5iJJ3w-4rxzyYPLSkDk5wgZjnl_lDeJGPlVWIi7Lz9PSSyLJNcsi4jCdM1kHn8Ck1J2AzYQrba6Ym3OkNQIYIL3kOBr4vlIx1RmNdfMDLM-39FX1AnDo6J317/s1600/0+%25281%2529.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="199" data-original-width="253" height="503" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1M3WHULOXbvy2tQKndb_5iJJ3w-4rxzyYPLSkDk5wgZjnl_lDeJGPlVWIi7Lz9PSSyLJNcsi4jCdM1kHn8Ck1J2AzYQrba6Ym3OkNQIYIL3kOBr4vlIx1RmNdfMDLM-39FX1AnDo6J317/s640/0+%25281%2529.jpeg" width="640" /></a></div>
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<span style="color: black; font-family: "Helvetica",sans-serif; font-size: 16.0pt; mso-themecolor: text1;">2.
Bad advice<o:p></o:p></span></h3>
<div style="-webkit-text-stroke-width: 0px; color: rgba(0, 0, 0, 0.7); font-stretch: inherit; font-variant-caps: normal; font-variant-east-asian: inherit; font-variant-ligatures: normal; font-variant-numeric: inherit; line-height: 24.0pt; margin: 3.2rem; orphans: 2; outline: 0px; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="color: black; font-size: 16.0pt; mso-themecolor: text1;">If there’s one thing you need a competent
agent for, it’s the advice they’re able to provide. A good agent will serve as
your trusted advisor, guiding you through the myriad of decisions you’ll make
when buying or selling a home.<o:p></o:p></span></div>
<div style="-webkit-text-stroke-width: 0px; color: rgba(0, 0, 0, 0.7); font-stretch: inherit; font-variant-caps: normal; font-variant-east-asian: inherit; font-variant-ligatures: normal; font-variant-numeric: inherit; line-height: 24.0pt; margin: 3.2rem 0px; orphans: 2; outline: 0px; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="color: black; font-size: 16.0pt; mso-themecolor: text1;">A bad
agent, however, will either give you advice that’s not based on any experience
or research, or is just plain self-serving. This can cost you financially or
prevent you from accomplishing your goals altogether.<o:p></o:p></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEieapQNtsvX-kxHt9vbBQhfqk4DluUwKOWmzMLemUjehr8V95Cx6YDxIETn42ePnAtqNoatoVvl1h_rtg2OKiDnVqaNAitPJKxcWcniLREDbIosZfqZYnBb_cedMrfB5YAZukflutuOcGpF/s1600/0+%25282%2529.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1067" data-original-width="1600" height="426" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEieapQNtsvX-kxHt9vbBQhfqk4DluUwKOWmzMLemUjehr8V95Cx6YDxIETn42ePnAtqNoatoVvl1h_rtg2OKiDnVqaNAitPJKxcWcniLREDbIosZfqZYnBb_cedMrfB5YAZukflutuOcGpF/s640/0+%25282%2529.jpeg" width="640" /></a></div>
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<span style="color: black; font-family: "Helvetica",sans-serif; font-size: 16.0pt; mso-themecolor: text1;">3.
Failed negotiations<o:p></o:p></span></h3>
<div style="-webkit-text-stroke-width: 0px; color: rgba(0, 0, 0, 0.7); font-stretch: inherit; font-variant-caps: normal; font-variant-east-asian: inherit; font-variant-ligatures: normal; font-variant-numeric: inherit; line-height: 24.0pt; margin: 3.2rem; orphans: 2; outline: 0px; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="color: black; font-size: 16.0pt; mso-themecolor: text1;">Lots of people consider themselves good
negotiators, but very few actually are. While negotiating might be just one
part of real estate, it’s an important one. You need someone on your side who’s
working in your best interests in a competent and effective way.<o:p></o:p></span></div>
<div style="-webkit-text-stroke-width: 0px; color: rgba(0, 0, 0, 0.7); font-stretch: inherit; font-variant-caps: normal; font-variant-east-asian: inherit; font-variant-ligatures: normal; font-variant-numeric: inherit; line-height: 24.0pt; margin: 3.2rem 0px; orphans: 2; outline: 0px; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="color: black; font-size: 16.0pt; mso-themecolor: text1;">A bad
agent will either negotiate in such a way that attainable deals fall through,
or will simply negotiate in their own best-interests rather than the interest
of their clients (you).<o:p></o:p></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiywDo3F4xFQKR_bdKKkBcLL4bcf-r-Ko_-YMvhWCcInGB2f_JIKw97GVVgXF3jmKs7uXy97BF0otvHEh-NUaCE1dHFKlLAXacbxh9vRug7CXEKkWh2g-LGFZWVf7pXeUFgwjNeiJbvPGQU/s1600/0+%25283%2529.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="604" data-original-width="604" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiywDo3F4xFQKR_bdKKkBcLL4bcf-r-Ko_-YMvhWCcInGB2f_JIKw97GVVgXF3jmKs7uXy97BF0otvHEh-NUaCE1dHFKlLAXacbxh9vRug7CXEKkWh2g-LGFZWVf7pXeUFgwjNeiJbvPGQU/s640/0+%25283%2529.jpeg" width="640" /></a></div>
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<span style="color: black; font-family: "Helvetica",sans-serif; font-size: 16.0pt; mso-themecolor: text1;">4.
Lack of responsiveness<o:p></o:p></span></h3>
<div style="-webkit-text-stroke-width: 0px; color: rgba(0, 0, 0, 0.7); font-stretch: inherit; font-variant-caps: normal; font-variant-east-asian: inherit; font-variant-ligatures: normal; font-variant-numeric: inherit; line-height: 24.0pt; margin: 3.2rem; orphans: 2; outline: 0px; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="color: black; font-size: 16.0pt; mso-themecolor: text1;">This may or may not be one of your
pet-peeves, but unresponsiveness in something as complex as a real estate
transaction can be an absolute nightmare for the person whose money, home, and
future are on the line.<o:p></o:p></span></div>
<div style="-webkit-text-stroke-width: 0px; color: rgba(0, 0, 0, 0.7); font-stretch: inherit; font-variant-caps: normal; font-variant-east-asian: inherit; font-variant-ligatures: normal; font-variant-numeric: inherit; line-height: 24.0pt; margin: 3.2rem 0px; orphans: 2; outline: 0px; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="color: black; font-size: 16.0pt; mso-themecolor: text1;">A great
agent is available most any time you need them (within reason). The wrong one,
however, will let your calls, messages, and emails go unanswered while you
worry yourself sick about what’s happening (or </span><em style="font-stretch: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; outline: 0px;"><span style="border: none windowtext 1.0pt; color: black; font-family: "Georgia",serif; font-size: 15.5pt; mso-border-alt: none windowtext 0cm; mso-themecolor: text1; padding: 0cm;">not</span></em><span style="color: black; font-size: 16.0pt; mso-themecolor: text1;"> happening).<o:p></o:p></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgTxihYKkOwOjxDE2fvoeGHfpm7hqpdaS06a1KvN4VccMMdZ1-6aoSewU3SImzF9Lu3SdjPNy1Po95Im-FVPZZNzcQruwQ-9WjElJ7YntgXOXm95G7PwMxlX-EvXwtAxFr0TnYsy-NhZB79/s1600/0+%25284%2529.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="221" data-original-width="400" height="352" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgTxihYKkOwOjxDE2fvoeGHfpm7hqpdaS06a1KvN4VccMMdZ1-6aoSewU3SImzF9Lu3SdjPNy1Po95Im-FVPZZNzcQruwQ-9WjElJ7YntgXOXm95G7PwMxlX-EvXwtAxFr0TnYsy-NhZB79/s640/0+%25284%2529.jpeg" width="640" /></a></div>
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<h3 style="line-height: 21.0pt; vertical-align: baseline;">
<span style="color: black; font-family: "Helvetica",sans-serif; font-size: 16.0pt; mso-themecolor: text1;">5.
Missed opportunities<o:p></o:p></span></h3>
<div style="-webkit-text-stroke-width: 0px; color: rgba(0, 0, 0, 0.7); font-stretch: inherit; font-variant-caps: normal; font-variant-east-asian: inherit; font-variant-ligatures: normal; font-variant-numeric: inherit; line-height: 24.0pt; margin: 3.2rem; orphans: 2; outline: 0px; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="color: black; font-size: 16.0pt; mso-themecolor: text1;">Real estate is a business that moves quickly,
especially when the market is hot. Even when there’s high demand, there are
still opportunities for buyers, and a good agent will know how to spot them and
take advantage quickly.<o:p></o:p></span></div>
<div style="-webkit-text-stroke-width: 0px; color: rgba(0, 0, 0, 0.7); font-stretch: inherit; font-variant-caps: normal; font-variant-east-asian: inherit; font-variant-ligatures: normal; font-variant-numeric: inherit; line-height: 24.0pt; margin: 3.2rem 0px; orphans: 2; outline: 0px; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="color: black; font-size: 16.0pt; mso-themecolor: text1;">The wrong
agent will miss good opportunities because they’re unable to recognize them,
will move too slowly and miss them, or just generally not care.<o:p></o:p></span></div>
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<h3 style="line-height: 21.0pt; vertical-align: baseline;">
<span style="color: black; font-family: "Helvetica",sans-serif; font-size: 16.0pt; mso-themecolor: text1;">6.
Legal pitfalls<o:p></o:p></span></h3>
<div style="-webkit-text-stroke-width: 0px; color: rgba(0, 0, 0, 0.7); font-stretch: inherit; font-variant-caps: normal; font-variant-east-asian: inherit; font-variant-ligatures: normal; font-variant-numeric: inherit; line-height: 24.0pt; margin: 3.2rem; orphans: 2; outline: 0px; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="color: black; font-size: 16.0pt; mso-themecolor: text1;">Real estate is complex by nature, and legal
questions arise on a frequent basis. Thankfully, good agents have the knowledge
and resourcefulness to help you navigate them and can find solutions even if
they’re not immediately apparent.<o:p></o:p></span></div>
<div style="-webkit-text-stroke-width: 0px; color: rgba(0, 0, 0, 0.7); font-stretch: inherit; font-variant-caps: normal; font-variant-east-asian: inherit; font-variant-ligatures: normal; font-variant-numeric: inherit; line-height: 24.0pt; margin: 3.2rem 0px; orphans: 2; outline: 0px; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="color: black; font-size: 16.0pt; mso-themecolor: text1;">Hiring the
wrong agent will mean that when the inevitable problems creep up during the
transaction, they’ll either give you the wrong advice on what to do, or will
simply look at you and shrug their shoulders.<o:p></o:p></span></div>
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<h3 style="line-height: 21.0pt; vertical-align: baseline;">
<span style="color: black; font-family: "Helvetica",sans-serif; font-size: 16.0pt; mso-themecolor: text1;">7.
The process won’t be enjoyable<o:p></o:p></span></h3>
<div style="-webkit-text-stroke-width: 0px; color: rgba(0, 0, 0, 0.7); font-stretch: inherit; font-variant-caps: normal; font-variant-east-asian: inherit; font-variant-ligatures: normal; font-variant-numeric: inherit; line-height: 24.0pt; margin: 3.2rem; orphans: 2; outline: 0px; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="color: black; font-size: 16.0pt; mso-themecolor: text1;">There’s no rule that says a real estate
transaction has to unpleasant. Yes, it’s a lengthy process that has lots of
implications. But if you take a step back and think about it, buying or selling
a home is usually a positive thing—whether it’s an upgrade, a money-saving
downgrade, or a general lifestyle change. You should work with someone who can
at least make it a pleasant experience.<o:p></o:p></span></div>
<div style="-webkit-text-stroke-width: 0px; color: rgba(0, 0, 0, 0.7); font-stretch: inherit; font-variant-caps: normal; font-variant-east-asian: inherit; font-variant-ligatures: normal; font-variant-numeric: inherit; line-height: 24.0pt; margin: 3.2rem 0px; orphans: 2; outline: 0px; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="color: black; font-size: 16.0pt; mso-themecolor: text1;">And that’s
the thing about hiring the wrong agent. They’re all but guaranteed to make the
process one that you won’t enjoy.<o:p></o:p></span></div>
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<h2 style="line-height: 24.0pt; vertical-align: baseline;">
<span style="color: black; font-family: "Helvetica",sans-serif; font-size: 19.5pt; mso-themecolor: text1;">So
choose your next real estate agent wisely; your happiness—and the height of
your high five when it’s over—will likely depend on it.<o:p></o:p></span></h2>
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<span style="font-family: "Times New Roman",serif; font-size: 16.0pt; mso-bidi-language: HI; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">Credit : Ramprasad Padhi<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 16.0pt; mso-bidi-language: HI; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">Founder & CEO – Mumbai Properties
Consulting Pvt Ltd<o:p></o:p></span></div>
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<span class="MsoHyperlink"><span style="font-family: "Times New Roman",serif; font-size: 16.0pt; mso-bidi-language: HI; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;"><a href="http://www.mumbaiproperties.com/">http://www.mumbaiproperties.com/</a></span></span><span style="font-family: "Times New Roman",serif; font-size: 16.0pt; mso-bidi-language: HI; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;"> <o:p></o:p></span></div>
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Anonymoushttp://www.blogger.com/profile/10037855294024770937noreply@blogger.com0tag:blogger.com,1999:blog-1637813083254559772.post-13148173023324224342018-07-16T04:18:00.003-07:002018-07-16T04:21:50.477-07:00Realtors - Employing Technology for a Personalized Touch<div dir="ltr" style="text-align: left;" trbidi="on">
<span style="font-size: 16pt;">With technology improving by the hour, the entire real estate process
has undergone a huge metamorphosis, as every step, right from property listing
to finalization of the deal, has been impacted by its presence. The transaction
process of buying or selling a property can be a tedious one but the right
combination of a professional realtor and technology can make it a seamless one
for you.</span><br />
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<div style="line-height: 24.0pt; vertical-align: baseline;">
<span style="font-size: 16.0pt;"><o:p></o:p></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh-SSCDHGdJcp0VnyEDJh_b9ZqVgR006rEvgLCXXbea98gyL5lj0PaukhZznNjzqoWobNnsSJyLvlaJCRTfhEgakGWl9Tsx-rICKm66kp6c5UP9gkSqKuKUYeomNaOoZnqsRKDgb5hyRLf9/s1600/0.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="618" data-original-width="1280" height="308" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh-SSCDHGdJcp0VnyEDJh_b9ZqVgR006rEvgLCXXbea98gyL5lj0PaukhZznNjzqoWobNnsSJyLvlaJCRTfhEgakGWl9Tsx-rICKm66kp6c5UP9gkSqKuKUYeomNaOoZnqsRKDgb5hyRLf9/s640/0.jpg" width="640" /></a></div>
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<div style="line-height: 24.0pt; vertical-align: baseline;">
<span style="font-size: 16.0pt;">Devices like tablets and mobile phones are commonly used and customers
can choose either, to transact and communicate with realtors and vice versa
too. Realtors get a better insight to their business and have better control
over day-to-day operations. It provides some fabulous opportunities of
delighting the customers as new technology are equipped with tools to give great
experiences to the customer and realtor. Realtors who employ technology in
their business to boost their service quality, are able to provide top quality
experiences to their clients, without compromising on a much-needed human
touch. <o:p></o:p></span></div>
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<strong><span style="border: none 1.0pt; font-family: "inherit" , serif; font-size: 16.0pt; padding: 0cm;">Providing Benefits to the
Customer</span></strong><br />
<span style="color: rgba(0, 0, 0, 0.7); font-size: 16pt;">Many realtor firms focus and spend a lot on
digital marketing, lead generation, email marketing, sms blasts etc. in the
quest to uncover potential customers and to reach them. However, although
technology has its own benefits, it is a direct referral from a satisfied
customer that still leads the way. Realtors who focus on giving a fulfilling
experience to their customers during the entire process of buying or selling
their homes, are more likely of getting references. Remember, buying a home is
a hugely emotional experience for most customers and as a realtor if you
connect well at this level, you have earned a client for a lifetime.</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgq_t1in0nICqNr2l6lsAGkFoNeXwwYH4fBPwTtw6N1VyW60HDPKmMj6ff_FZRTtQM8hf9HclRMQLqHmZPz8pvenRDJYgiRwRrqef5_MX8KDEBc4yYWc11gYiCZPMgQmIHMjRjFdYHyaArI/s1600/0+%25281%2529.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="194" data-original-width="259" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgq_t1in0nICqNr2l6lsAGkFoNeXwwYH4fBPwTtw6N1VyW60HDPKmMj6ff_FZRTtQM8hf9HclRMQLqHmZPz8pvenRDJYgiRwRrqef5_MX8KDEBc4yYWc11gYiCZPMgQmIHMjRjFdYHyaArI/s1600/0+%25281%2529.jpg" /></a></div>
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<span style="font-size: 16.0pt;"><o:p> </o:p></span><span style="font-size: 16pt;">While the human touch is important,
customers love when things are simplified for them and technology does this
quite efficiently and in a seamless manner. After all, they are using
technology to simplify their lives, beginning with the morning coffee to
booking flight tickets to finding life partners. Prudent realtors ensure that
technology is used in the right context and quantity with the human touch. For
example, although communication has many channels at its disposal, a
face-to-face meeting serves many purposes and is preferred when the issue is
complex. Use technology to exchange information and set up meetings. All this
leads to a highly positive experience for the customer.</span></div>
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<strong><span style="border: none 1.0pt; font-family: "inherit" , serif; font-size: 16.0pt; padding: 0cm;">Treating employees as customers</span></strong><br />
<span style="color: rgba(0, 0, 0, 0.7); font-size: 16pt;">As a professional realtor, you will have a
team of sales agents who reach out to customers on the phone or personally. For
successful running of your business, it is necessary to attract new talent and
retain them too, as they represent your organization, its values and ethics.
Provide them with suitable means of online communications in the office or when
they are on the move, since this will help them to give your customers an
experience that is garnished with the right amount of human touch.</span></div>
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<span style="font-size: 16.0pt;"><o:p></o:p></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjlGhnZjVEyLKXWkL5h3D64F2lUPZljNrpwJi7WKa2U0hL1jgQ35F7os7DmOVct8pZvaaS7nX2WZg-uPm2spQ2oZiykZ1ZGeei8til8tufPBVzeKCiHQN1bUViqv6fJ7TTp7Mz4ve9PBi4Q/s1600/0+%25282%2529.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="549" data-original-width="875" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjlGhnZjVEyLKXWkL5h3D64F2lUPZljNrpwJi7WKa2U0hL1jgQ35F7os7DmOVct8pZvaaS7nX2WZg-uPm2spQ2oZiykZ1ZGeei8til8tufPBVzeKCiHQN1bUViqv6fJ7TTp7Mz4ve9PBi4Q/s640/0+%25282%2529.jpg" width="640" /></a></div>
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<span style="font-size: 16.0pt;"><o:p> </o:p></span><span style="font-size: 16pt;">Keep the team interested and engrossed in
day-to-day work by providing online training, a powerful communication device
and the freedom to reach out to customers in the most suitable manner.
Elaborate use of technology to keep the team connected between themselves and
their customers is often the key to attracting talent and employee
retention.</span><span style="color: rgba(0 , 0 , 0 , 0.7); font-size: 16pt;"> </span></div>
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<strong><span style="border: none 1.0pt; font-family: "inherit" , serif; font-size: 16.0pt; padding: 0cm;">Embracing technology for smooth
running of business</span></strong><br />
<span style="color: rgba(0, 0, 0, 0.7); font-size: 16pt;">Gone are the days when one had to sift
through stacks of documents to review them or comply with the authorities
involved. Technology helps us to store files, documents, signatures, deeds and
agreements in the digital format and thus can be retrieved without a hassle. No
paperwork is inaccessible as scanned documents can be easily forwarded or
presented before the relevant authority in quick time. This provides a truly
improved experience to the customers. Employees too, have more time on hand to
carry out the tasks they are supposed to, and connect to more customers to sell
real estate. </span></div>
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<span style="font-size: 16.0pt;"><o:p><br /></o:p></span></div>
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<span style="font-size: 16.0pt;"><o:p> </o:p></span><span style="font-size: 16pt;">Technology helps realtors to market their
business well and reach out to customers quickly, thus leading to more
closures. The use of modern communication devices, CRMs and marketing techniques
can be useful to a certain extent but remember these are only a part of the
entire process. Adding the flavour of human emotions and face-to-face
communications is necessary for realtors to give a personalized touch to
probably the most important transaction of your customer’s lifetime</span><span style="color: rgba(0 , 0 , 0 , 0.7); font-size: 16pt;">.</span></div>
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<span style="font-family: "times new roman" , serif; font-size: 16pt;">Credit : Ramprasad Padhi</span></div>
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<span style="font-family: "times new roman" , serif; font-size: 16.0pt;">Founder & CEO – Mumbai Properties
Consulting Pvt Ltd<o:p></o:p></span></div>
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<span class="MsoHyperlink"><span style="font-family: "times new roman" , serif; font-size: 16.0pt;"><a href="http://www.mumbaiproperties.com/">http://www.mumbaiproperties.com/</a></span></span><span style="font-family: "times new roman" , serif; font-size: 16.0pt;"> <o:p></o:p></span></div>
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Anonymoushttp://www.blogger.com/profile/10037855294024770937noreply@blogger.com0tag:blogger.com,1999:blog-1637813083254559772.post-5492344579941687292018-07-03T04:07:00.000-07:002018-07-03T04:07:12.021-07:00Realtors - Top Ten Creative Ideas to Give your Real Estate Marketing a Boost<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: "Times New Roman",serif; font-size: 16.0pt; mso-bidi-language: HI; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">Those who are a part of the real
estate industry, especially Realtors who are involved in the buying and selling
of property, will understand the challenges one faces in developing a unique
competitive advantage. This is particularly true where there is a massive
choice and carving a niche becomes absolutely critical.<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 16.0pt; mso-bidi-language: HI; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">If you are looking for
inspiration and want to indulge in creative marketing, then here are a few
top-of-the-line real estate marketing ideas to jumpstart the process:<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 16.0pt; mso-bidi-language: HI; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">1.<span style="mso-tab-count: 1;"> </span><b>Weave a story around every property</b>: As the tagline of a
popular advertisement says “Har Ghar kuch kehta hai”, you could create a brand
around every property you have in your list. Showcase a property by
highlighting its most stunning features and use terms and phrases your client
could easily connect too. Talk about inspiration and creativity if you know the
prospect belongs to a relevant industry. Send him so carefully-selected images
of the property or a professionally done video on WhatsApp to whet his appetite
before showing the property. This will help in creating a positive image before
the actual showing and will boost your chances of selling/renting the property<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 16.0pt; mso-bidi-language: HI; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">2.<span style="mso-tab-count: 1;"> </span><b>Choose a special feature and highlight it</b>: Although
there are many financial implications of buying a home, the decision is mostly
an emotion-driven one. As a realtor, identify a specialty of the home you are
showcasing and make it a highpoint while presenting it to the client. If the
residential complex has a huge, green garden as an amenity, highlight this when
you know the client is a nature-loving one and wants to spend time away from
the hustle-bustle of the city. If the couple have kids, paint a verbal image
where they can see the little ones playing in the garden and using it as a
playground.<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 16.0pt; mso-bidi-language: HI; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">3.<span style="mso-tab-count: 1;"> </span> <b>Advertise in the vicinity of good-looking homes</b>: When
you are searching the city for a place of your own, you often come across a
gorgeous home or an attractive property that makes you wish you lived there.
Flyers and posters near some of the beautiful homes in the city with a message
that says “Want to live in a home like this one?” are enough to trigger an
action in home seekers. Don’t forget to wait by the office phone as it will
soon ring off the hook when you advertise in this way!<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 16.0pt; mso-bidi-language: HI; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">4.<span style="mso-tab-count: 1;"> </span><b>Don’t miss your client’s housewarming party</b>: After you
have managed to crack that deal for your client, it is time to bask in its
glory. If your client has organized a party or a puja, make sure you are
invited to it. This is the time to let the select gathering of family and
friends know that you are the guy who made this win-win deal possible. Your
client is more than likely to introduce you to the guests and recommend your
services to those who are on a house-hunting spree themselves. You could also offer
to sponsor a portion of the party as a goodwill gesture and promote your
services in a discreet manner.<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 16.0pt; mso-bidi-language: HI; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">5. <b>Connect to an NGO</b>:
Every time you make a sale, donate some portion of your commission to an NGO or
a charitable organization. Spread the word that you are associated with an NGO
that works for the homeless or for orphans. Your client will feel proud to be
associated with a realtor who takes CSR seriously and will gladly recommend
your services to others. It could prove to be a tipping point if your client is
torn between two properties and is quite close to taking a decision.<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 16.0pt; mso-bidi-language: HI; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">6.<span style="mso-spacerun: yes;"> </span><b>Organize an event for new buyers</b>:
Home buyers are keen to get their queries solved about the home buying process,
the legal formalities, moving into a new town or getting qualified for a home.
Invite all your prospective clients for an informal do where their queries are
solved by a living, breathing person and not a property website. Give a small
talk about the things they need to consider while buying or selling or renting
a place. Collaborating with interior decorators, home loan agents or movers
& packers is a way of dividing costs since the target audience is the same
for them too.<o:p></o:p></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjTXNdCRwTmPHOpoUBPPNA7aiyF3_MOQeQ5ZzzpYyF2HU6YPRnMurdc6CBF3qP2vA_WVlUk6plndlcDjgkvD9h4bz61oUJkgPgqhr8C2cLzijNIpiiKtLjrY1pyWhVXaNFfw-ElEl2FkD5Z/s1600/0+%25281%2529.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="768" data-original-width="1024" height="480" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjTXNdCRwTmPHOpoUBPPNA7aiyF3_MOQeQ5ZzzpYyF2HU6YPRnMurdc6CBF3qP2vA_WVlUk6plndlcDjgkvD9h4bz61oUJkgPgqhr8C2cLzijNIpiiKtLjrY1pyWhVXaNFfw-ElEl2FkD5Z/s640/0+%25281%2529.jpg" width="640" /></a></div>
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<span style="font-family: "Times New Roman",serif; font-size: 16.0pt; mso-bidi-language: HI; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">7. <b>Drive the client to the
property</b>: It is a good idea to pick up the client from his home or a nearby
locale while showing a property. It creates a good impression on the client and
takes out the hassle of taking the public transport or use his car. It also
gives you time to connect to the prospect and bond a little while you reach the
destination. Arrange a car on hire if you do not have one and it will have a
good impact on the client for a lifetime.<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 16.0pt; mso-bidi-language: HI; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">8.<span style="mso-spacerun: yes;"> </span><b>Offer help with related things</b>:
Home hunters have many things on their mind while they are out looking for a
roof on their head. Home loan, interiors, relocation, furnishing and school
admissions are just a few that top the list. Provide as much help as possible
especially if your prospect is new to the city. This will not only help you to
close deals quickly but will generate a lot of goodwill too.<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 16.0pt; mso-bidi-language: HI; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">9.<span style="mso-spacerun: yes;"> </span><b>Highlight pain points</b>: While
showcasing a property or advertising locally for it, focusing on the probable
pain points your clients may face can draw attention. A paying guest will love
to be freed of pesky landlords, strict rules, long commuting hours and
congested homes. Target these areas while speaking to prospects and show them
the brighter side of life to help them switch.<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 16.0pt; mso-bidi-language: HI; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">10.<span style="mso-spacerun: yes;"> </span><b>Sponsor events when possible</b>:
Identify a few clubs in your city and sponsor a few events through the year,
according to the client profile you cater to. If HNIs form a large portion of
your client list and luxury apartments is your forte, then choose that
exclusive club as your target. If you are a specialist with rental homes and
budget apartments, the local club can be a wonderful place to be seen at.
Decide on a budget and use it to connect to prospects where they are relaxed
and unhurried.<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 16.0pt; mso-bidi-language: HI; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">It’s time to take a different
approach while attracting clients since competition is growing by the day.
Unique ways of connecting with prospective clients will certainly draw a lot
more attention than traditional methods. So go ahead and try them out today!<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 16.0pt; mso-bidi-language: HI; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">Credit : Ramprasad Padhi<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 16.0pt; mso-bidi-language: HI; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">Founder & CEO – Mumbai Properties
Consulting Pvt Ltd<o:p></o:p></span></div>
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Anonymoushttp://www.blogger.com/profile/10037855294024770937noreply@blogger.com0tag:blogger.com,1999:blog-1637813083254559772.post-11934880793958533622018-06-25T04:29:00.000-07:002018-06-25T04:29:17.975-07:00Realtor to repay premium for not delivering promised view<div dir="ltr" style="text-align: left;" trbidi="on">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhA6bJgdIMpzQie8Yz8ZHGwkL8CZbfn8pVo6rFKcTPeSwFCCmy3kHsThD_SZHpLr87iAzdkbubzPc49R74xfQPSZB6E8FuDdZsD64l6MF6VQWLYTmy9R0zEW00cw_Rmjld9W_-VsUOxmmIl/s1600/asdfghjkl.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="480" data-original-width="640" height="480" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhA6bJgdIMpzQie8Yz8ZHGwkL8CZbfn8pVo6rFKcTPeSwFCCmy3kHsThD_SZHpLr87iAzdkbubzPc49R74xfQPSZB6E8FuDdZsD64l6MF6VQWLYTmy9R0zEW00cw_Rmjld9W_-VsUOxmmIl/s640/asdfghjkl.jpg" width="640" /></a></div>
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<b><span style="color: black; font-size: 16.0pt; line-height: 107%; mso-themecolor: text1;">The complainant homebuyer had booked an
apartment in the developer’s project Xrbia Eiffel City Chakan PH2 situated at
Chakan in Pune through a provisional allotment letter<o:p></o:p></span></b></div>
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<span style="color: black; font-size: 13.0pt; line-height: 107%; mso-themecolor: text1;">MUMBAI: If a real estate developer has charged
a premium for a specific view and the view no longer exists, the developer will
have to refund the amount to homebuyers. In most property markets, realty
developers usually charge an amount for this, implying an additional service
provided to the consumer.<o:p></o:p></span></div>
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In a unique case, a homebuyer had filed a complaint with Maharashtra Real
Estate Regulatory Authority (MahaRERA) against realty developer Xrbia
Group stating that the developer had charged him a certain amount for premium
view of a garden and other amenities.<o:p></o:p></span></div>
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The complainant homebuyer had booked an apartment in the developer’s project
Xrbia Eiffel City Chakan PH2 situated at Chakan in Pune through a provisional
allotment letter. However, the view now no longer exists as another building is
coming up on the said location.<o:p></o:p></span></div>
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While the regulator has not passed any order specifically on this matter, the
developer finally agreed to not charge the amount towards premium view from the
homebuyer.<o:p></o:p></span></div>
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<span style="color: black; font-size: 13.0pt; line-height: 107%; mso-themecolor: text1;">The developer submitted to MahaRERA that since the said
premium view is not being provided, he will not charge the said premium amount
towards the consideration price of the said apartment. The complainant
homebuyer also agreed to the reduction of the premium amount from the balance
consideration price.<o:p></o:p></span></div>
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<span style="color: black; font-size: 13.0pt; line-height: 107%; mso-themecolor: text1;">Credit : <a href="https://realty.economictimes.indiatimes.com/">https://realty.economictimes.indiatimes.com/</a>
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Anonymoushttp://www.blogger.com/profile/10037855294024770937noreply@blogger.com0tag:blogger.com,1999:blog-1637813083254559772.post-63609446882260992012018-06-11T07:15:00.001-07:002018-06-11T07:15:47.566-07:00BMC's new policy on dilapidated buildings in Mumbai may boost redevelopment<div dir="ltr" style="text-align: left;" trbidi="on">
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<b><span style="color: black; font-size: 16.0pt; line-height: 107%; mso-themecolor: text1;">The new policy lists detailed guidelines for
declaring private and municipal buildings in the city in C-1 category
(dangerous and unsafe)<o:p></o:p></span></b></div>
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<span style="color: black; font-size: 13.0pt; line-height: 107%; mso-themecolor: text1;">MUMBAI: The BMC has uploaded its new policy on dilapidated
buildings on its website, which civic officials say will speed up
the redevelopment process. Disputes between tenants and
owners often lead to a delay in vacating a building and redevelopment drags on
for years, said civic officials<o:p></o:p></span></div>
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The new policy lists detailed guidelines for declaring private and municipal
buildings in the city in C-1 category (dangerous and unsafe); it doesn’t cover
Mhada buildings, cess properties, and port trust and defence properties.<o:p></o:p></span></div>
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Under the new policy, the BMC will grant sanction for redevelopment—intimation
of disapproval—only after an agreement providing permanent alternative
accommodation in a new building or a settlement is arrived at between the
tenants and landlord. No commencement certificate will be issued too till then.
Also, if a BMC employee refuses to vacate a C-1 category building, despite
alternative accommodation being provided, a departmental inquiry will be
conducted against him for endangering the life and property of himself and
others, and he will be suspended from service, pending inquiry. In case the
occupier is a tenant, the agreement licence with BMC will be terminated and he
will be evicted.<o:p></o:p></span></div>
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<span style="color: black; font-size: 13.0pt; line-height: 107%; mso-themecolor: text1;">The BMC also introduced five technical advisory
committees for the suburbs, the island city and municipal buildings to
expedite the process of resolving disputes between tenants and owners over
structural audits. Currently, there is only one such committee.<o:p></o:p></span></div>
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<span style="color: black; font-size: 13.0pt; line-height: 107%; mso-themecolor: text1;">Credit : <a href="https://realty.economictimes.indiatimes.com/">https://realty.economictimes.indiatimes.com/</a>
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Anonymoushttp://www.blogger.com/profile/10037855294024770937noreply@blogger.com0tag:blogger.com,1999:blog-1637813083254559772.post-14589729417077988032018-06-04T05:51:00.000-07:002018-06-04T05:51:05.466-07:00Cabinet clears amendments to insolvency and bankruptcy code<div dir="ltr" style="text-align: left;" trbidi="on">
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<b><span style="color: black; font-size: 16.0pt; line-height: 107%; mso-themecolor: text1;">Minister for Law and Justice Ravi Shankar
Prasad, briefing reporters after the Cabinet meet said, "I cannot disclose
anything because it's a new legislation except to reinforce that the Cabinet
has approved it"<o:p></o:p></span></b></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg8lBM-N2IbCsINk7rZ0uNSPU2dj1jckyfoMzhg79x7KOxp4nFQBMRn1uqmqzV0onnSSJktLliCoJewrw9QacdBgeNzxbXpWcSok8EMyDkuL9v8m4xVVzfg2amDU1VhTmpxk2HzxsieP8Oz/s1600/asdfghjkl.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="194" data-original-width="259" height="479" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg8lBM-N2IbCsINk7rZ0uNSPU2dj1jckyfoMzhg79x7KOxp4nFQBMRn1uqmqzV0onnSSJktLliCoJewrw9QacdBgeNzxbXpWcSok8EMyDkuL9v8m4xVVzfg2amDU1VhTmpxk2HzxsieP8Oz/s640/asdfghjkl.jpg" width="640" /></a></div>
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<span style="color: black; font-size: 13.0pt; line-height: 107%; mso-themecolor: text1;">NEW DELHI: The Cabinet today cleared amendments
to the Insolvency and Bankruptcy Code (IBC), incorporating changes
suggested by a government appointed panel.<o:p></o:p></span></div>
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Minister for Law and Justice Ravi Shankar Prasad, briefing reporters after
the Cabinet meet said, "I cannot disclose anything because it's a new
legislation except to reinforce that the Cabinet has approved it".<o:p></o:p></span></div>
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Asked if the Cabinet has cleared some relief measures for home buyers as per
the recommendations of the panel, Prasad said, "there is something called
constitutional protocol. An Ordinance till it is approved by the President, I
cannot speak about the details".<o:p></o:p></span></div>
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<span style="color: black; font-size: 13.0pt; line-height: 107%; mso-themecolor: text1;">A 14-member Insolvency Law Committee had made
suggestions to the Ministry of Corporate Affairs, including addressing
woes of home buyers and making recoveries easier for lenders.<o:p></o:p></span></div>
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The panel had suggested that home buyers should be treated as financial
creditors, which will allow them to equitably participate in an insolvency
resolution process.<br />
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The panel has also suggested relaxations for Micro, Small and Medium
Enterprises(MSMEs) under the IBC.<o:p></o:p></span></div>
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<span style="color: black; font-size: 13.0pt; line-height: 107%; mso-themecolor: text1;">Credit : <a href="https://realty.economictimes.indiatimes.com/">https://realty.economictimes.indiatimes.com/</a>
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Anonymoushttp://www.blogger.com/profile/10037855294024770937noreply@blogger.com0tag:blogger.com,1999:blog-1637813083254559772.post-51220413705102414162018-05-28T06:46:00.002-07:002018-05-28T06:46:45.049-07:00Only 10% registration of brokers bugs MahaRERA<div dir="ltr" style="text-align: left;" trbidi="on">
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<b><span style="color: black; font-size: 16.0pt; line-height: 107%; mso-themecolor: text1;">A year after the implementation of the Real
Estate Regulatory Act (RERA), only 14,000 real estate brokers are registered
with Maharashtra Real Estate Regulatory Authority (MahaRERA)<o:p></o:p></span></b></div>
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<span style="color: black; font-size: 13.0pt; line-height: 107%; mso-themecolor: text1;">PUNE: Concerned over the dismal registration figures of
realty agents, the Maharashtra Real Estate Regulatory Authority has
approached the Confederation of Real Estate Brokers’ Association of India to
push up the numbers.<o:p></o:p></span></div>
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A year after the implementation of the Real Estate Regulatory Act (RERA), only
14,000 real estate brokers are registered with Maharashtra Real Estate
Regulatory Authority (MahaRERA). With more than a lakh of brokers in the
state, the number of registration is less than 10%.<o:p></o:p></span></div>
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MahaRERA secretary Vasant Prabhu told TOI that the dismal number of
registrations was a concern for the authority and they wanted the Confederation
of Real Estate Brokers’ Association of India (Crebai) to ensure that all their
members registered, either individually or through a company, with MahaRERA.<o:p></o:p></span></div>
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<span style="color: black; font-size: 13.0pt; line-height: 107%; mso-themecolor: text1;">Prabhu said, “We have directed Crebai to ensure that all
their members associated with the ongoing projects register with MahaRERA.
Citizens should go for deals with a MahaRERA registered broker only.”<o:p></o:p></span></div>
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MahaRERA has mandated that any broker who wants to sell apartments in a
registered project needs to be registered with the real estate authority.<o:p></o:p></span></div>
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According to Crebai, MahaRERA has brought a form of regulation for the brokers.
But of the 1.5 lakh brokers, nearly 80% are dealing with re-sale properties,
who do not fall under the ambit of MahaRERA.<o:p></o:p></span></div>
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“Some kind of security measure should be given by MahaRERA to ensure that all
brokers register. Also, our demands of standardizing the commission should be
addressed by MahaRERA,” said Milind Kamdar, the president of the Maharashtra
branch of Crebai.<o:p></o:p></span></div>
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“Though we are made liable for any violation, no rules have been made to
protect our rights. Many a times, builders and buyers do not pay us our
brokerage and there are no provisions to penalize them,” said another broker.<o:p></o:p></span></div>
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MahaRERA officials stated that they would be following up with Crebai regularly
to ensure that the number of registered brokers increased. They would also
conduct awareness drives to ensure citizens approach registered brokers only.<o:p></o:p></span></div>
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Anonymoushttp://www.blogger.com/profile/10037855294024770937noreply@blogger.com0tag:blogger.com,1999:blog-1637813083254559772.post-62981960388570909922018-05-21T05:48:00.001-07:002018-05-21T05:48:31.371-07:00Residential sales in top 8 cities grew 13% in 2017-18: Report<div dir="ltr" style="text-align: left;" trbidi="on">
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<b><span style="font-size: 16.0pt; line-height: 107%;">Affordable
housing continued to be the mainstay of the demand as the contribution of this
segment to the overall sales in tier I cities<o:p></o:p></span></b></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiTMLuX0YPhmbO-twmgjDSQqX2DvEZj9OCdwLaKBtHUeXmDaqQLZTGf9lMr8LEkKmFPXt9uL4P3RW4CndFup9lU73L9Co8800EzN9lgfMWKeQVZzl6mHNI8suDbupcoBMtdrCijwTOm2iYO/s1600/asdfghjkl.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="480" data-original-width="640" height="480" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiTMLuX0YPhmbO-twmgjDSQqX2DvEZj9OCdwLaKBtHUeXmDaqQLZTGf9lMr8LEkKmFPXt9uL4P3RW4CndFup9lU73L9Co8800EzN9lgfMWKeQVZzl6mHNI8suDbupcoBMtdrCijwTOm2iYO/s640/asdfghjkl.jpg" width="640" /></a></div>
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<span style="font-size: 13.0pt; line-height: 107%;">MUMBAI: Residential sales
across top 8 tier I cities of India has grown 13% during the financial year
2017-18 (April-March) with Mumbai Metropolitan Region witnessing maximum growth
of 25%, showed data from Liases Foras Ratings & Research.</span></div>
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Affordable housing continued to be the mainstay of the demand as the
contribution of this segment to the overall sales in tier I cities including
Mumbai, Delhi-NCR, Bengaluru, Pune, Hyderabad, Chennai, Kolkata and Ahmedabad
stood at 18% during the fourth quarter.</span></div>
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The government has been pushing affordable housing through various schemes and
incentives. Lower home loan interest rates and necessary impetus by the
government to affordable housing has played a key role pushing sales in this
segment.<o:p></o:p></span></div>
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<span style="font-size: 13.0pt; line-height: 107%;">The
government has supported the housing sector through affordable housing fund,
lower Goods & Services Tax (GST) rates, increased tenure of loans under
Credit Linked Subsidy Scheme (CLSS) of Pradhan Mantri Awas Yojana (PMAY)
and extended income tax benefits to apartments of carpet area of 645 sq ft.</span></div>
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Mumbai was followed by Delhi-National Capital Region with 19% increase in sales
for the year. In south zone, Chennai and Bangalore have shown a slow down with
sales numbers showing a drop of 15% and 5%, respectively while Hyderabad
witnessed a growth of 17%.</span></div>
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On year-on-year basis, new launches across these top 8 markets have declined in
most cities except in Mumbai, Hyderabad and Kolkata where launches grew 42%,
53% and 29%, respectively.</span></div>
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With a growth in sales and drop in new launches the unsold inventory in the
tier 1 cities have dropped by 3% from a year ago to 9.29 lakh units as on March
end.</span></div>
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During the fourth quarter ended March, residential sales across these tier I
cities increased by 14% with Hyderabad emerging as the leader with a 33%
increase followed by Bangalore with 30% rise, MMR with 19% growth and
14% increase in Pune. Kolkata is the only city that witnessed a marginal
decline of 1%.</span></div>
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During the fourth quarter, sales in affordable segment with price tag of less
than Rs 25 lakh increased 24% from a year ago. Sales in the cost bracket of Rs
25 lakh to Rs 50 lakh increased by 4% on an annual basis. Sales in the cost
bracket of Rs 50 lakh to Rs 1 crore increased by 17%, while sales in luxury
segment with Rs 1 crore to Rs 2 crore rose 13%. Sales in ultra-luxury segment
above Rs 2 crore rose 13%.</span></div>
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Weighted average price across tier I cities witnessed a muted increase of 1%.
Marginal decline of 1% was observed in Pune and NCR while prices dropped by 4%
in Chennai. Prices in Ahmedabad witnessed no change while a slight increase of
1% was observed in Hyderabad , Kolkata , MMR and Pune each, the data showed.</span></div>
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NCR led with the highest contribution to sales in the affordable segment with
26% followed by MMR with 23%, Ahmedabad with 20% and Pune with 15% of total
sales in this segment. All 8 cities cumulatively sold highest in cost range of
Rs 25 lakh – Rs 50 lakh, with sales of 35% of total sales, followed by cost
range of Rs 50 lakh to Rs 1 crore at 30% of total sales.</span></div>
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Among regions, MMR contributed the highest to overall sales at 17,143 units or
25% of total sales followed by NCR at 15,326 units or 22% of total sales, the
data showed.</span></div>
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During the quarter, MMR added the highest new launches, with a contribution of
25% followed by Bangalore 17% and NCR 11%. Among various cost segments, the
cost bracket of Rs 50 lakh to Rs 1 crore witnessed maximum new launches
amounting to 39% of total new supply followed by the cost brackets of Rs 25
lakhs to Rs 50 lakhs with 36% contribution.</span></div>
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The Rs 50 lakh to Rs 1 crore segment of MMR witnessed maximum launches of 5,545
units contributing 11% of the total new launches across eight tier 1 cities.
Kolkata contributed 29% of the new launches in the affordable segment with less
than Rs 25 lakh followed by MMR 25% and Pune 24%.<o:p></o:p></span></div>
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<span style="font-size: 13.0pt; line-height: 107%;">Credit : <a href="https://realty.economictimes.indiatimes.com/">https://realty.economictimes.indiatimes.com/</a>
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Anonymoushttp://www.blogger.com/profile/10037855294024770937noreply@blogger.com0tag:blogger.com,1999:blog-1637813083254559772.post-15932097690536923352018-05-13T22:47:00.001-07:002018-05-13T22:47:18.046-07:00Kochi corporation to tighten norms for high-rises with basements<div dir="ltr" style="text-align: left;" trbidi="on">
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<b><span style="font-family: "Times New Roman",serif; font-size: 16.0pt; line-height: 107%;">Corporation officials will strictly
monitor the construction of highrises that utilize maximum floor area ratio
(FAR) in saturated areas like MG Road<o:p></o:p></span></b></div>
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<span style="font-family: "Times New Roman",serif; font-size: 13.0pt; line-height: 107%;">KOCHI: After an under-construction building caved in
recently in Kaloor, corporation is planning to impose strict regulations and
monitor the construction works of high-rises that will have two or three
basements. <o:p></o:p></span></div>
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Corporation officials will strictly monitor the construction of high-rises that
utilize maximum floor area ratio (FAR) in saturated areas like MG
Road.<o:p></o:p></span></div>
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"Construction works that use maximum floor area will be monitored right
from the time building permit is issued until the work is completed. We have
noticed that many buildings are constructing two or three basements. Given the
soil condition in Kochi, such constructions will have to be regulated. We are
planning to introduce stricter regulations in this context," said mayor
Soumini Jain.<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 13.0pt; line-height: 107%;">The regulations for such buildings will be framed
after consulting geotechnical experts and structural engineers. "The
condition of soil in Kochi is different. Ata particular site, hard soil can be
found by digging up to 2m whereas for the adjacent property you might have to
dig up a lot more to get hard soil," said superintending engineer of the
corporation KD Ajayaghosh.<o:p></o:p></span></div>
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"As far as we conducted inspection, it is found that developing more
basement floors should require higher setback area (the space left vacant
between boundaries of the premises and the structure. We are giving permit for
buildings as per Kerala Municipal Building Rules (KMBR). As of now,
KMBR doesn't have such regulations. So, corporation will have to take the
initiative of putting some regulations in this regard. On Wednesday, the
corporation council is expected to conduct a preliminary discussion in this
case," he said.<o:p></o:p></span></div>
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A technical committee - led by two professors from Government Engineering
College, Thrissur - will begin site inspection on Tuesday. "They will look
at the causes that led to the collapse of the structure and suggest measures to
ensure safety. The collector has also deployed a technical committee. A clear
picture on the exact reasons which led to the collapse will be available in a
week," Ajayaghosh said.<o:p></o:p></span></div>
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At the same time, corporation authorities are yet to respond to KMRL's demand
that the agency also should be consulted before giving permit to highrises
along Metro corridor. According to KMRL officials, they had sent a letter to
the district collector suggesting that the agency's approval should also be
sought in cases of highrises.<o:p></o:p></span></div>
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District collector K Mohammed Y Safirulla said that local self-government
departments are responsible for issuing building permits as well as introducing
restrictions on highrises along the Metro stretch. "It is up to Kochi
corporation to look into this matter and take adequate steps," he
said.<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 13.0pt; line-height: 107%;">Credit : <a href="https://realty.economictimes.indiatimes.com/">https://realty.economictimes.indiatimes.com/</a>
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Anonymoushttp://www.blogger.com/profile/10037855294024770937noreply@blogger.com0tag:blogger.com,1999:blog-1637813083254559772.post-91413185494090015472018-05-07T07:21:00.001-07:002018-05-07T07:21:24.312-07:00Maharashtra govt reduces lease rent for housing societies and plot owners<div dir="ltr" style="text-align: left;" trbidi="on">
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<b><span style="font-family: "Times New Roman",serif; font-size: 13.0pt; line-height: 107%;">Individual plot owners or those whose plot
size is less than 5,000 sq ft, as well as housing societies, will now have to
pay only 1% of 25% of the plot’s ready reckoner rate (RR rate)<o:p></o:p></span></b></div>
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<span style="font-family: "Times New Roman",serif; font-size: 13.0pt; line-height: 107%;">MUMBAI: A section of lease holders of state
governmentland can look forward to reduced annual lease rent. The state cabinet
on Tuesday decided to cut annual lease rent for individual plot owners, housing
societies, social, religious, and cultural organisations and also for
orphanages and dharamshalas.<o:p></o:p></span></div>
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Individual plot owners or those whose plot size is less than 5,000 sq ft, as
well as housing societies, will now have to pay only 1% of 25% of the
plot’s ready reckoner rate (RR rate). For social, religious and
cultural organisations, orphanages and dharamshalas, the annual lease rent has
been reduced to only 0.5% of 25% of the plot’s RR rate.<o:p></o:p></span></div>
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The reduction follows a spate of public interest litigations filed in the Bombay high
court after the state government introduced a new lease renewal policy in 2012.
It increased the annual lease rent to 2% of 25% of a plot’s RR rates. “This was
considered very high, especially since people were paying in hundreds and
thousands and under the new policy, it went up to lakhs. It definitely was a
huge jump. The court in 2015 directed the government to hold talks with the
affected parties and find a middle path,” a senior revenue official said.<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 13.0pt; line-height: 107%;">Credit : <a href="https://realty.economictimes.indiatimes.com/">https://realty.economictimes.indiatimes.com/</a>
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Anonymoushttp://www.blogger.com/profile/10037855294024770937noreply@blogger.com0tag:blogger.com,1999:blog-1637813083254559772.post-92104685174457471962018-04-29T22:59:00.000-07:002018-04-29T22:59:11.259-07:00SC stops construction in illegal Delhi colonies<div dir="ltr" style="text-align: left;" trbidi="on">
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<b><span style="color: black; font-size: 16.0pt; line-height: 107%; mso-themecolor: text1;">A bench of Justice Madan B. Lokur and Justice
Deepak Gupta asked the Centre to set up a Special Task Force for removing
encroachments on public land and roads in Delhi<o:p></o:p></span></b></div>
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<span style="color: black; font-size: 13.0pt; line-height: 107%; mso-themecolor: text1;">NEW DELHI: The Supreme Court on Tuesday halted all
construction in 1,797 unauthorised colonies in the national capital.<o:p></o:p></span></div>
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A bench of Justice Madan B. Lokur and Justice Deepak Gupta asked the Centre to
set up a Special Task Force for removing encroachments on public land and roads
in Delhi.<o:p></o:p></span></div>
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The bench also refused to vacate its stay on proposed amendments to the city's
masterplan. The Development Authority had (DDA) appealed the court to
vacate the stay.<o:p></o:p></span></div>
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"On the one hand you have authorised colonies which follow rules and
by-laws. On the other hand you have unauthorised colonies which are not
following rules and by-laws... Unauthorised colonies can't be placed in a
better position than authorised colonies.<o:p></o:p></span></div>
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"We direct that construction should stop in unauthorised colonies till
they follow by-laws," the bench said<o:p></o:p></span></div>
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The order came after taking into account the submissions of senior advocate
Ranjit Kumar, who was assisting the court as amicus curiae, that by-laws do not
apply to the illegal colonies and the construction was rampant there.<o:p></o:p></span></div>
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<span style="color: black; font-size: 13.0pt; line-height: 107%; mso-themecolor: text1;">Credit : <span style="mso-spacerun: yes;"> </span><a href="https://realty.economictimes.indiatimes.com/">https://realty.economictimes.indiatimes.com</a>
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Anonymoushttp://www.blogger.com/profile/10037855294024770937noreply@blogger.com0tag:blogger.com,1999:blog-1637813083254559772.post-7174549215534026452018-04-22T22:21:00.000-07:002018-04-22T22:21:03.710-07:00Over three lakh houses constructed under PMAY-Gramin in Rajasthan<div dir="ltr" style="text-align: left;" trbidi="on">
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<b><span style="color: black; font-family: "Times New Roman",serif; font-size: 16.0pt; line-height: 107%; mso-themecolor: text1;">Under the
scheme a grant of Rs 1.2 lakh have been credited to the account of the
beneficiaries in three instalments<o:p></o:p></span></b></div>
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<span style="color: black; font-family: "Times New Roman",serif; font-size: 13.0pt; line-height: 107%; mso-themecolor: text1;">JAIPUR : Rajasthan has
completed over 3 lakh houses under the Pradhan Mantri Awas Yojana (Rural)
by April 18 this year. One of the flag ship schemes of the NDA government
launched in April 2016 modifying the Indira Aawas Scheme, it intends to provide
house to all by 2022. <o:p></o:p></span></div>
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Sudarshan Sethi, additional chief secretary panchayati raj and rural development
said, "Out of a target of 4.73 lakh houses in the last two years under the
scheme, 3,03,000 lakh has been completed and the remaining houses were in the
final stages of completion and expected to be completed by June this
year."<o:p></o:p></span></div>
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Sethi said the rural development department has roped in IIT Delhi to design
the houses suited to the agro-climatic conditions of the state. Accordingly the
state has divided in to four zones, and seven designs were made for the
beneficiaries to choose from. The beneficiaries are also free to make their own
designs, he said. <o:p></o:p></span></div>
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Under the scheme a grant of Rs 1.2 lakh have been credited to the account of
the beneficiaries in three instalments. They are eligible for 90 days of
manpower (unskilled) under NAREGA (Rs 16,290) apart from an additional grant of
Rs 12,000 under Swach Bharat Mission for toilet. Thus the total amount
available for the construction of the house is 1,48,290. The size of the house
has to be 25 Sq metres including a kitchen. The beneficiaries could avail a
loan of up to Rs 70,000 if needed. The construction of the house had to be
completed within a year of its approval, he said. <o:p></o:p></span></div>
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An important aspect of this scheme is apart from houses, the beneficiaries also
eligible for other benefits like LPG connection under Ujjwala scheme, power
connection, water connection, solar light system and tanks construction, and
group housing facilities like concreate roads, drainage, tree plantation, etc. <o:p></o:p></span></div>
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Anonymoushttp://www.blogger.com/profile/10037855294024770937noreply@blogger.com0tag:blogger.com,1999:blog-1637813083254559772.post-21408692345159114142018-04-16T03:43:00.000-07:002018-04-16T03:43:08.945-07:00Land pooling by Hyderabad development body runs into assigned land hurdle<div dir="ltr" style="text-align: left;" trbidi="on">
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<b><span style="font-family: "Times New Roman",serif; font-size: 13.0pt; line-height: 107%;">HMDA, which had carried out the Uppal
Bhagat land pooling successfully, is also in the final stage of taking written
consent from farmers and land owners in Pratapasingaram<o:p></o:p></span></b></div>
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<span style="font-family: "Times New Roman",serif; font-size: 13.0pt; line-height: 107%;">HYDERABAD: The land poolingexercise undertaken
by Hyderabad Metropolitan Development Authority(HMDA) at Dundigal and
Boduppal (Medipally) has run into hurdles owing to the presence of assigned
land, forcing HMDA to seek government's approval. The municipal administration
and urban development department has already written to the revenue department,
seeking advance possession of the assigned lands to HMDA so that it can go
ahead with land pooling. <o:p></o:p></span></div>
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HMDA, which had carried out the Uppal Bhagat land pooling successfully, is also
in the final stage of taking written consent from farmers and land owners in
Pratapasingaram. <o:p></o:p></span></div>
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HMDA commissioner T Chiranjeevulu told TOI: "At Medipally, we are looking
at 360 acres of land pooling and 520 acres at Dundigal. In both the areas,
there are assigned lands. Though assignees have come forward, we have to get
the nod of the state government." <o:p></o:p></span></div>
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After striking consent agreements with land owners, HMDA is planning to develop
roads and other amenities. The ratio of developed land sharing between HMDA and
land owners will be based on current market value. Out of one acre of land
(4,840 square yards) after roads and amenities are developed, land left for
plotting will be 2,800 square yards. <o:p></o:p></span></div>
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A senior official of HMDA told TOI, "Assignees cannot transfer or sell the
land. Because of this, development has taken a back seat in these areas. So,
they have come forward for land pooling with HMDA which will enable them get
legal right to sell the plots after their development." It may be recalled
the government issued guidelines for land pooling on December 7 last
year. <o:p></o:p></span></div>
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In Pratapasingaram, HMDA is working on over 160 acres. The commissioner held a
meeting with the landowners who gave an oral consent for land pooling. HMDA is
also working on land pooling at Bogaram near Keesara where land pooling for 200
acres is on the cards. HMDA has also identified Gourelli in Hayatnagnar mandal
and Korremula in Ghatkesar mandal for land pooling.<o:p></o:p></span></div>
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Anonymoushttp://www.blogger.com/profile/10037855294024770937noreply@blogger.com0tag:blogger.com,1999:blog-1637813083254559772.post-32809021108616591642018-04-09T04:51:00.001-07:002018-04-09T04:51:52.989-07:00Existing buildings in ‘red zone’ also need to get NOC from AAI<div dir="ltr" style="text-align: left;" trbidi="on">
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<b><span style="font-family: "Times New Roman",serif; font-size: 16.0pt; line-height: 107%;">As per the guidelines of ministry of civil
aviation, a suitable mechanism needs to be adopted regarding the already
existing structures within the mandatory NOC zone (red colour zone)<o:p></o:p></span></b></div>
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<span style="font-family: "Times New Roman",serif; font-size: 13.0pt; line-height: 107%;">PIMPRI CHINCHWAD: The vicic body will regularise all
illegal constructions built before December 2015 by April 30, similar
constructions under Pimpri Chinchwad New Township Development Authority, will
be regularized till May 15.<br />
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The urban development department had issued a notification in October last year
under the Maharashtra Regional Town Planning Act for regularization of such
constructions in residential, commercial and industrial zones. Owners will have
to submit complete details of the construction, survey and sector numbers,
approved by a licensed architect, to the PCNTDA. However, constructions in
buffer zones, red zones, blue lines of rivers, on hill slopes, and dilapidated
or structurally unsafe buildings will not be regularised. There are around
40,000 illegal constructions in PCMC limits and around 26,000 constructions
under PCNTDA.<br />
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PCNTDA engineers will visit the sites and give in principal approval. If the
built up area is 10 metres, margin on the sides will be 0.75 metres. A no
objection certificate from fire brigade department would be required for
buildings which are 36-metre high. For Gaothan areas, the road width would be
4.5 metres, and for other areas, six metres. A structural stability certificate
will have to be submitted. Development charges, infrastructure charges and
compounding charges will be levied till May 15. Owners in PCMC limits will have
to submit Google images of the property along with details of property tax,
sewerage tax, and penalty tax on illegal construction till April 30.<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 13.0pt; line-height: 107%;">Credit : <a href="https://realty.economictimes.indiatimes.com/">https://realty.economictimes.indiatimes.com/</a>
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Anonymoushttp://www.blogger.com/profile/10037855294024770937noreply@blogger.com0tag:blogger.com,1999:blog-1637813083254559772.post-10632225594512963262018-04-02T06:29:00.001-07:002018-04-02T06:29:33.637-07:00ATS Group to invest Rs 2,000 crore to construct affordable homes<div dir="ltr" style="text-align: left;" trbidi="on">
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<b><span style="color: black; font-size: 16.0pt; line-height: 107%; mso-themecolor: text1;">The fund will be raised from a mix of
internal accruals, debt and private equity funds.<o:p></o:p></span></b></div>
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<span style="color: black; font-size: 13.0pt; line-height: 107%; mso-themecolor: text1;">NEW DELHI: ATS Group, a National Capital Region
(NCR)-based developer, plans to invest close to Rs 1,500- 2,000 crore for
construction mid- income and affordable homes under a new entity ‘HomeKraft’.</span></div>
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The fund will be raised from a mix of internal accruals, debt and private
equity funds. “We are in advance talks with a major PE firm to raise funds for
HomeKraft in the next 2-3 months,” the company said in a release here on
Wednesday.</span></div>
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Prasoon Chauhan has been appointed as the CEO of HomeKraft. Previously he
has worked with ICICI Bank and Yes Bank.</span></div>
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The company is looking to clock sales of 6000-6500 units in the next 3-5 years with
expected revenue in the range of Rs 4,000-5,000 crore.<o:p></o:p></span></div>
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Anonymoushttp://www.blogger.com/profile/10037855294024770937noreply@blogger.com0tag:blogger.com,1999:blog-1637813083254559772.post-65372202639382337452018-03-26T07:05:00.000-07:002018-03-26T07:05:07.634-07:00Maharashtra finally clears way for drop in stamp duty on real estate sale<div dir="ltr" style="text-align: left;" trbidi="on">
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<b><span style="color: black; font-family: "Times New Roman",serif; font-size: 13.0pt; line-height: 107%; mso-themecolor: text1;">The state
revenue and forest department has issued the Bombay Stamp (Determination of
True Market Value of Property) (1st Amendment) Rules, 2018 that will allow the
CCRA for the first time to either increase or decrease the RR rates.<o:p></o:p></span></b></div>
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<span style="color: black; font-family: "Times New Roman",serif; font-size: 13.0pt; line-height: 107%; mso-themecolor: text1;">MUMBAI: Homebuyers
could expect some relief as the state government has introduced a provision
that will allow reduction of Ready Reckoner (RR) rates. Until now, RR rates,
which are revised annually, could only be increased or kept steady.<br />
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RR rates are used to assess market value of properties by government; stamp
duty and registration charges are paid on this basis. The rates are revised
every year on April 1.<br />
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The state revenue and forest department has issued the Bombay Stamp
(Determination of True Market Value of Property) (1st Amendment) Rules, 2018
that will allow the Chief Controlling Revenue Authority (CCRA) for
the first time to either increase or decrease the RR rates.<br />
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The March 12 notification amends rule 4 that says in case the CCRA cannot issue
an annual statement of rates then the preceding one may be “incremented” in
view of “increase” in market rates. The word “incremented” has now been
replaced with “revised” and “increase” with “increase or decrease”. The change
in the wording signals the government’s acceptance of the fact that real estate
rates have dipped in recent years.<br />
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Mumbai is divided into 700 zones for which RR rates are prepared annually. In
the last five years, rates for these zones have been increased by 6-7%
annually. However, it was not always so. In 1995, 1996, 1997 and 2001, the
government, despite there being no amendment, had reduced the RR rates.<br />
<br />
Commenting on the latest change in rules, property valuers said RR rates need
to reflect true market value. Mayur Shah, president, Maharashtra Chamber
of Housing Industry, said they have been urging the government to reduce
the RR rates as the real estate industry has been in a bad shape for the past
three-four years.<br />
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Shah said CREDAI-MCHI is considering recommending a 20-25% reduction in RR
rates. “Earlier, rates were only increasing. Now that Maharashtra, like other
states, has a provision to decrease the rates, housing will get a boost,” he
said.<br />
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The increase or reduction in RR rates impacts buyers in a significant way as
the 5% stamp duty is to be paid as per RR rates; in some cases, the actual sale
may have taken place at a lower rate.<br />
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Sunit Gupta, a property valuation expert, said the RR rate for Nariman Point,
for instance, is Rs 50,000 sq ft while the market rate is Rs 30-35,000 per sq
ft. “Also, builder and buyer have to pay income tax based on the RR rates and
not the market rate,” he said.<br />
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It is the joint director of town planning and valuation who annually assesses
rates of lands and buildings for every tehsil, municipal corporation and local
body area and prepares a statement. The CCRA then approves these rates and they
come into force. <o:p></o:p></span></div>
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<span style="color: black; font-family: "Times New Roman",serif; font-size: 13.0pt; line-height: 107%; mso-themecolor: text1;">Credit : <a href="https://realty.economictimes.indiatimes.com/">https://realty.economictimes.indiatimes.com/</a>
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Anonymoushttp://www.blogger.com/profile/10037855294024770937noreply@blogger.com0tag:blogger.com,1999:blog-1637813083254559772.post-43836271106441698552018-03-09T04:48:00.001-08:002018-03-09T04:48:34.205-08:00Punjab govt approves affordable housing policy<div dir="ltr" style="text-align: left;" trbidi="on">
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<b><span style="font-size: 13.0pt; line-height: 107%;">This
would help make these available to the lower income groups on affordable price.
Plot sizes in such colonies shall be maximum up to 125 sq yards and their
average size shall not exceed 100 sq yards.<o:p></o:p></span></b></div>
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<span style="font-size: 13.0pt; line-height: 107%;">CHANDIGARH:
The PunjabCabinet on Wednesday paved the way for the notification of the
Affordable Colony Policy - 2018 to facilitate affordable housing for
lower income groups, thereby also checking the mushroom growth of unauthorised
colonies.<o:p></o:p></span></div>
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<span style="font-size: 13.0pt; line-height: 107%;">With most
unauthorised colonies found to have small sized plots that are normally
purchased by economically weaker section (EWS) and lower income group (LIG),
the state government had decided to relax certain provisions in approved
colonies, including relaxation in saleable area, FAR etc., with the aim to make
plots available to the common man on affordable rates.<o:p></o:p></span></div>
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<span style="font-size: 13.0pt; line-height: 107%;">The Cabinet
has now given its nod to the new policy, aimed at offering higher density and
floor area ratio (FAR) to the promoters who were keen to develop an affordable
colony, according to an official spokesperson in a release.<o:p></o:p></span></div>
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<span style="font-size: 13.0pt; line-height: 107%;">The new
policy has proposed rebate in rates pertaining to Change of Land Use (CLU),
External Development Charges (EDC) and License Fee (LF) to enable construction
of the maximum possible number of flats over an acre of land.<o:p></o:p></span></div>
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<span style="font-size: 13.0pt; line-height: 107%;">This would
help make these available to the lower income groups on affordable price. Plot
sizes in such colonies shall be maximum up to 125 square yards and their
average size shall not exceed 100 sq. yard.<o:p></o:p></span></div>
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<span style="font-size: 13.0pt; line-height: 107%;">Under the
policy, a maximum of five acres of land would be required to carve out an
affordable colony in all the master plans of the state, except SAS Nagar and
New <o:p></o:p></span></div>
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<span style="font-size: 13.0pt; line-height: 107%;">Chandigarh
master plans, wherein any activity to set up a colony is only allowed to be
undertaken as per the provisions of the approved master plans.<o:p></o:p></span></div>
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<span style="font-size: 13.0pt; line-height: 107%;">The policy
proposes plotted, flatted and a mix of plotted and flatted development by the
promoters.<o:p></o:p></span></div>
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<span style="font-size: 13.0pt; line-height: 107%;">It also
envisages the maximum saleable area for the flats at 65 per cent of the total
project, as against the existing 50 per cent, which would come as a major
relief to builders.<o:p></o:p></span></div>
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<span style="font-size: 13.0pt; line-height: 107%;">Similarly,
under the flatted development on roads of 40 to 80 feet and above, an FAR of
1:2 to 1:3 has been proposed. Parking norms for the dwelling units have also
been relaxed.<o:p></o:p></span></div>
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<span style="font-size: 13.0pt; line-height: 107%;">As per a
recent inventory, there are approximately 8,000 unauthorized colonies having
about 40,000 acres of land, which have come up without permission from the
competent authority in a haphazard manner and are devoid of basic facilities
such as water supply, sewerage etc.<o:p></o:p></span></div>
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<span style="font-size: 13.0pt; line-height: 107%;">The mushrooming
of unauthorized colonies has been found to be directly linked to
non-availability of affordable housing for the lower and middle income groups,
release said.<o:p></o:p></span></div>
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<span style="font-size: 13.0pt; line-height: 107%;">Meanwhile,
Punjab cabinet also gave its nod to renaming the Department of Welfare of
Scheduled Castes, Backward Classes and Minorities, as Department of Social
Justice and Empowerment and Minorities'.<o:p></o:p></span></div>
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<span style="font-size: 13.0pt; line-height: 107%;">The decision
to rename the department was taken as the existing name neither carried a
positive connotation, nor truly reflected the efforts and endeavor of the
government for upliftment of disadvantaged sections of the society, said an
official release.<o:p></o:p></span></div>
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<span style="font-size: 13.0pt; line-height: 107%;">The
Directorate of the concerned department has also been renamed accordingly as
Directorate of Social Justice and Empowerment and Minorities.<o:p></o:p></span></div>
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<span style="font-size: 13.0pt; line-height: 107%;">Concurrently,
the post of 'District Welfare Officer & Tehsil Welfare Officer' has been
renamed as District Social Justice and Empowerment Officer &Tehsil Social
Justice and Empowerment Officer.<o:p></o:p></span></div>
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population of Punjab is 277.43 lakh, as per the census 2011, which comprises
weaker sections of the society that include 31.94 per cent population of
Scheduled Castes and about 16.1 percent of Backward Classes besides Christians,
Muslims and other minorities.<o:p></o:p></span></div>
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Anonymoushttp://www.blogger.com/profile/10037855294024770937noreply@blogger.com0tag:blogger.com,1999:blog-1637813083254559772.post-70826688157226375162018-02-26T06:09:00.000-08:002018-02-26T06:09:07.526-08:00Kotak Realty-Cube Highways offer Rs 6,000 crore to build 25,000 Jaypee flats<div dir="ltr" style="text-align: left;" trbidi="on">
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<b><span style="color: black; font-family: "Times New Roman",serif; font-size: 16.0pt; line-height: 107%; mso-themecolor: text1;">The bids
are due to be opened next week, and the resolution plan is expected to be
finalised by March-end or early April.<o:p></o:p></span></b></div>
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<span style="color: black; font-family: "Times New Roman",serif; font-size: 13.0pt; line-height: 107%; mso-themecolor: text1;">NEW DELHI: Kotak
Realty Fundand Cube Highways, which have bid for Jaypee Infratech,
have proposed to set aside Rs 6,000 crore for constructing 25,000 undelivered
homes, while offering to pay all lenders and promising that banks will not have
to take a ‘haircut’ on their exposure.<br />
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At least half a dozen bidders, including the Adani Group, JSW, Deutsche
Bank, Sudhi Walia-promoted Suraksha Asset Reconstruction Corporation and
Chinese realtor Jieyang Zhonguci, apart from the Kotak Realty-Cube Highways
combine, are in the fray for the company facing insolvency action. The bids are
due to be opened next week, and the resolution plan is expected to be finalised
by March-end or early April, sources told TOI.<br />
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Last August, the National Company Law Tribunal had initiated insolvency
proceedings against Jaypee Infratech with the resolution process now in the
=final phase. The Supreme Court has also stepped in and appointed an amicus
curiae to protect the interests of homebuyers.<br />
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Sources said that apart from upfront payment, Kotak Realty Fund and Cube
Highways — both backed by funding from Abu Dhabi Investment Authority — have
proposed to swap a part of the land for loans taken by Jaypee Infratech that it
is yet to repay. This proposal was made by the company’s majority shareholder,
Jaypee Associates, to banks last June but was rejected. Jaypee Associates had
also submitted its bid but it was not opened following recent amendments to the
law that barred promoters of companies that had been a non-performing asset
(NPA) for over a year from bidding. A loan is classified as an NPA if it
remains unpaid for 90 days at a stretch.<br />
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In most insolvency cases, the resolution plan comes with the bidders offering
to clear a part of debt, which the Economic Survey said was as high as 80% in
the initial set of companies where NCLT had ordered insolvency action. Initial
estimates had suggested that Rs 2,500-3,000 crore could be required for
completing construction work, but the fund requirement may be much higher.<br />
<br />
While Kotak Realty is aiming to develop and monetise the high land bank
available to Jaypee Infratech all the way from Noida to Agra along two
expressways, Cube Highways is looking to tap the revenue potential from the Taj
Expressway, where traffic is expected to increase with Agra, now that it is
linked to Lucknow through a new expressway.<o:p></o:p></span></div>
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Anonymoushttp://www.blogger.com/profile/10037855294024770937noreply@blogger.com0tag:blogger.com,1999:blog-1637813083254559772.post-61100117138001712662018-02-14T04:10:00.003-08:002018-02-14T04:10:58.449-08:00Smart City proposals to be cleared soon: Bihar housing minister<div dir="ltr" style="text-align: left;" trbidi="on">
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Biharsharif, Muzaffarpur and Bhagalpur – were included in the Centre’s Smart
City project.<o:p></o:p></span></b></div>
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<span style="font-family: "Times New Roman",serif; font-size: 13.0pt; line-height: 107%;">PATNA: State urban development and housing minister
Suresh Sharma said the Smart City proposals submitted by companies
concerned for the four selected cities of the state, including Patna, would be
cleared in a week.<br />
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Four cities from state – Patna, Biharsharif, Muzaffarpur and Bhagalpur – were
included in the Centre’s Smart City project. Bhagalpur was the first city
selected for the project, followed by Patna, Muzaffarpur and Biharsharif.<br />
<br />
The proposals include improvement of transport infrastructure, mechanism to
give quick solution to problems of citizens and facilities based on information
technology. “At least 12 companies from the country and abroad have submitted
their proposals for consideration,” the minister said, adding a dedicated
‘smart control room’ will be established in the state capital to monitor
implementation of the projects.<br />
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“The smart control room will be linked with the CM’s office as well as the
offices of state DGP and heads of other departments,” Sharma said.<br />
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A Spanish company, active in management work in two other proposed smart cities
in the country, has already been selected by the state government to manage the
projects worth Rs 2,700 crore in Patna.<o:p></o:p></span></div>
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Anonymoushttp://www.blogger.com/profile/10037855294024770937noreply@blogger.com0tag:blogger.com,1999:blog-1637813083254559772.post-23025106283695925052018-02-10T05:08:00.000-08:002018-02-10T05:08:48.038-08:00Bengaluru development body sees growing demand for villas, plans to build 300 more<div dir="ltr" style="text-align: left;" trbidi="on">
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has invited tender for its new villa project at Dasanapura, off Tumakuru Road,
24km from the central business district (CBD)<o:p></o:p></span></b></div>
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<span style="color: black; font-family: "Times New Roman",serif; font-size: 13.0pt; line-height: 107%; mso-themecolor: text1;">BENGALURU: Sites and
flats can wait. The Bangalore Development Authority’s (BDA) new focus
seems to be on villas. Encouraged by a massive response to its first villa
project in the city, the authority is now set to embark on developing
another residential enclave with 300 high-end villas.<o:p></o:p></span></div>
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The BDA has invited tender for its new villa project at Dasanapura, off Tumakuru
Road, 24km from the central business district (CBD). The move follows BDA’s
earlier enclave consisting of 452 villas in Alur, also off Tumakuru Road, north
Bengaluru, which saw 90% allotment.<o:p></o:p></span></div>
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N G Gowdaiah, engineer officer with the housing projects wing of BDA, told TOI
a good response to its villa project in Alur has prompted the BDA to go for
more such projects. “We have invited tender for the construction of Villa
Housing Project at Survey No. 35 of Hunnigere village in Dasanapura hobli
on a lumpsum turnkey basis. For the first time, we are going to build high-end
4BHK villas as part of the project,” he added.<o:p></o:p></span></div>
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<span style="color: black; font-family: "Times New Roman",serif; font-size: 13.0pt; line-height: 107%; mso-themecolor: text1;">As part of its Alur
villa project, the BDA had built 104 3BHK duplex villas (costing Rs 50 lakh
each). “In fact, soon after the first notification in late 2016, we received
200 applications for the 104 3BHK villas at Alur. Each villa is spread over
1,800sqft. Demand for villas in the simplex and duplex categories also grew
gradually,” Gowdaiah added.<o:p></o:p></span></div>
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Gowdaiah said the villas at Dasanapura will have more modern amenities based on
the feedback from Alur allottees. “Once the tender is finalized, we will be
ready to deliver the villas within 12 months. The new villas will cost
marginally higher than the ones at Alur; BDA villas cost about 40% lesser than
similar private projects,” Gowdaiah added.<br style="mso-special-character: line-break;" />
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Krishna Murthy, assistant executive engineer with BDA’s housing division, said
there could be multiple reasons behind rising demand for BDA villas.<o:p></o:p></span></div>
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“Those who can afford to pay Rs 50 lakh or more for properties are looking for
independent housing and want houses where they can get their own space.
However, they can’t afford the same with villas offered by private developers.
Also, we are developing these projects close to highways like Tumakuru Road and
NICE Road, which is an added advantage when it comes to connectivity,” Murthy
pointed out.<o:p></o:p></span></div>
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Anonymoushttp://www.blogger.com/profile/10037855294024770937noreply@blogger.com0