Government needs to plug loopholes in upcoming real estate bill

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PNI1 Government needs to plug loopholes in upcoming real estate bill

 

Government needs to plug loopholes in upcoming real estate bill :

The government must put a tab on the malpractices being followed by the builders and real estate developers in order to facilitate growth of this segment in India.

As the government is all set to introduce a real estate bill, it must take into consideration the possibility of plugging in all the loopholes in order to create a reliable real estate framework in India.

In their bid to enable a real estate bill that supports the overall ecosystem, a number of homeowners across the national capital region (NCR) have appealed to the government of India asking for solid and efficient ways to be taken in order to leave absolutely no space for exploitation of the common man by builders and developers.

As of now there are no such rules which can ensure that is there no exploitation of the common man while purchasing a property. And as a result, most of the times there are many real estate consumers who purchase property and are not delivered exactly what they were promised.

Quite often this kind of behavior also creates doubt and uncertainty in the eyes of potential buyers as well. This appeal from the home buyers came during a protest at the Jantar Mantar by the NCR Home Buyers Group, which is a federation of a number of associations of home buyers.

In order to pout a tab on the ongoing irregularities in the real estate market, there are many homeowners who are demanding that the planned bill create a foolproof system, now allowing any room for builders and developers, who are unable to deliver targets at within the proposed time period and also to make them more accountable on their promises.

We always suggest that real estate customers need to follow professional practices, as followed by our set of professionals while delivering real estate consultancy to our set of customers. To know more please visit our website.

Gaining from buying property from secondary market

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Gaining from buying property from secondary market :

Investing in secondary market can open doors to better profitability options for the end user community, even in a slow market scenario such as today

When you are planning to buy a property today, there are multiple options that you as a buyer can evaluate on the secondary market. However, a buyer needs to play it safe in order to increase chances of gaining from this transaction.

With people already investing heavily in the property market, there are many who want to do away with their investments for their personal reasons and thus can create unique opening for new buyers who can get good returns by investing in such secondary market options at much lower price range.

According to experts, the primary advantage of buying real estate from the secondary market is that the price tag is much lower than the ongoing price points being offered by developer.

According to Nishant Singhal, director-strategy and alliances, Investors Clinic Infratech: “This is the perfect time to buy an apartment from the secondary market. In a number of parts in Gurgaon, resale rates being offered by secondary property options are upto 20% lower than the developer’s rate being offered today.”

And as a direct result of the slowing down of the reality market, in a number of micro-markets in India, the gap between prices in the primary and the secondary market has widened and this is creating unique opportunities for the buyers to seriously look at such cheaper real estate options which are set to deliver bigger returns on the long run.

For more details on how to create such risk free investments – visit our website

Filed Under: News Tagged With: Buying Property from Secondary Market

Wave Infratech unveils unique financial schemes

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Wave Infratech unveils unique financial schemes :

Innovative financial schemes by Wave Infratech can enable affordable luxury living within the reach of every customer cummunity

Keeping in mind its focus to generate keen interest and initiate benefit for its customer community, Wave Infratech has unveiled unique financial schemes for customers interested to invest in its luxury project ‘Wave City Center’ in Noida.

This is being done in order to keep in mind the ease of availability of funds for its customers and also to provide them with innovative ways to ensure a better way of living life, the luxury way.

It is also important to note that as an organization that listens to its customers, Wave Infratech has always given a special space of thought to the convenience of customers and introduction of these schemes is an extension of the company’s similar philosophy.

With the help of these schemes, the company is planning to provide its customers a golden chance of living a luxury filled life in the heart of Noida – Delhi NCR while at the same time taking care of the customer’s ease of payment options.

As it is close to the National Capital region of Delhi, Noida has always been an investment friendly destination for people staying in Delhi and has become a favored destination to enable quality life styles.

And now experts believe that with the introduction of such investor friendly financial schemes, more and more customers will now be interested in availing the benefits of this innovative scheme. This beneficial financial scheme by Wave Infratech also holds great potential to enable a concept of making luxury within the reach of various customer communities.

Filed Under: News Tagged With: Wave City Center Noida

Demand for Size of Property Going Down in Mumbai

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Demand for Size of Property Going Down in Mumbai :

As the price points in Mumbai have seen a meteoric rise over the past few years, realty players have innovated on their market approach and have started introducing properties that are smaller in size and at the same time low on budgets.

In keeping with the emerging demand and trend for the availability of affordable property options, the sizes of homes across the Mumbai metropolitan region (MMR) are going down over the past two years.

This is happening as more and more real estate developers are listening to their end customers and are developing small-sized properties that are better suited for the affordability factor and hence are fast being made available at a good pace.

According to a recent survey, the size of homes has decreased by as much as eight per cent since 2012. This is going to further strengthen as a trend and likely to be adopted by more developers to quench the demand for affordable property options.

It is important to note that this trend started as early as the start of the year 2009 but became increasingly visible over the last two years as the property rates in Mumbai has risen sharply, there is a lack of affordable property. This gap is increasingly being filled by these affordable projects which offer lesser space but are cheaper on their pricing.

Another important aspect of these developments is the fact that property buyers do not mind compromising on the size of the properties if the property falls within the budget limits of a family or household.

Filed Under: News Tagged With: Real Estate Developers in Noida

Why Faridabad Real estate market is set to boom

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Why Faridabad Real estate market is set to boom :

Improved infrastructure such as the Gurgaon-Faridabad expressway, six-lane Mathura Road, expansion of metro etc will drive better value creation for real estate in Faridabad.

Even though Faridabad is quite close to the National Capital Region primary triangular locations of Noida, Delhi and Gurgaon, it carries equally good connectivity options for commuters between these locations, however, despite these advantages, the place has not done so well when we compare to rise of property value in other locations of Gurgaon or Delhi.

Even though many real estate experts believe that Faridabad has got great potential to become a model city, as a destination, Faridabad has very limited infrastructure and that has made a dent on its image as a not so favorable real estate destination. This is also one of the primary reason why the city has not been able to make its mark on the real estate map of NCR region.

Even though it is a fact that there was a big chance for the IT industry to get attracted towards Faridabad, eventually the close proximity to airport and because of the better road connectivity, most of the IT and telecom industry businesses have chosen Gurgaon over Faridabad.

But many real estate experts believe that the reality market in Faridabad is set to boom now, especially with much more improved infrastructure such as the Gurgaon-Faridabad expressway, six-lane Mathura Road, the ongoing expansion of metro, and most importantly the inauguration of the Faridabad-Noida-Gaziabad expressway.

And additionally, there are a number of demands being put forward by the CREDAI that include construction of stadium and commercial establishments in Sector 79 as per the Master Plan 1991, upgradation of infrastructure, tax rebate to industrial units in Ballabgarh, and construction of sewage treatment plant for Sector 75 to 89. All these developments are set to create a better value proposition for real estate investment in Faridabad.

India’s Real Estate Sector dismayed by RBI

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India’s Real Estate Sector dismayed by RBI :

With the Reserve Bank of India maintaining its status quo with regards to key interest rates at a time when the country’s inflation is well under control, the Confederation of Real Estate Developers’ Association of India (CREDAI) has strongly expressed its dismay and opined that it could have been much better if the bank reviewed the situation in an open manner.

Representing the interest of the country’s real estate sector, CREDAI has opined that RBI should work towards facilitating a reduction in interest rates in order to drive lowering of entry barriers and increase demand for real estate within the country.

CREDAI is arguing that as of now, India is experiencing a much more favorable financial atmosphere and hence the RBI’s decision to keep the key rates unchanged will not help the real estate sector development. This becomes especially important when the sector is going through a tough time.

At present, the overall inflation is under control, the country is experiencing a lower price points on crude oil and hence in order to facilitate the growth of the sector, RBI should seriously get involved in lowering the interest rates and that should provide the much needed momentum for businesses to grow ahead.

As believed by experts, the Indian economy is now moving in the right direction and hence, the organizations such as RBI should go all out and provide the right platform for future growth.

As for the real estate industry, the move may be seen as a lost opportunity as a rate cut at this juncture could have been the trigger for housing sales, Magazine said.