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Team iPropUnited

Team iPropUnited
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Stake in Wonder Space Properties Raised to 96% By Godrej Properties

Godrej Properties

Wonder space properties are engaged in the construction and development of land in Delhi NCR Region. After the acquisition, it has become a subsidiary of Godrej Properties.

It has increased its equity stakes in Wonder space properties Cooperation U.A. Godrej also announced entering into a joint venture with a well-known developer a 4.25 acres sea-facing property in the prime suburban location of “West Bandra” in Mumbai.

It will be developed as a luxury residential project. This project will offer one lack of Sq. meters of saleable area.

There is another residential project at “Vashi” in “Navi Mumbai”. It will be developed across five areas of land and will offer 4700sq. m. of saleable which will be compressed of modern residential apartments of various configurations.

So, Godrej Properties is strategically deepening its presence in key markets across Indian Metropolitan cities.

Tips On Selling Commercial Building For Maximum Profit

    Commercial BuildingA commercial building is the highest revenue earning real estate property. Buyers prefer spending on commercial properties more than any other property as the cash flow is constant and continuous. There can be times when the cash flow can be obstructed owing to several factors like the need for renovation, tenants not paying the rent and more such reasons. Either a commercial property owner finds ways of selling away the commercial building so that bulk money can be invested in a buying a new commercial property or a builder wants to sell a commercial property faster for earning better. In both the cases, it is not guaranteed that the building will be sold instantly. Following a few tried tips and tricks can make the task much easier.

    Every trade has tricks that one needs to master for a better revenue generation in the long run or instantly. These days people are more focused on current earnings that future earnings.
    Tips on selling a commercial building that you should follow:-
    List the Property: The most important step in getting your commercial property out there in the market for people to know about it is listing them on a trusted and reliable site that has good traffic. When more people browse through the property, there are more chances that the property will be sold faster.

    Social Media Marketing:
    Find a good SMM agency to get this done appropriately for you. If you are an internet savvy and know quite a lot about social media marketing and have a huge fan following, you can do this without spending a penny. Many people are hooked on social media and hashtags work in giving you a good result.

    Good PR:
    Sometimes gaining new customers is more challenging that gaining more profit from the existing customers who have already trusted you in the past ventures. Maintaining a good relationship with them can help you sell the commercial property faster than you had thought.

    Highly-Trained:
    Getting trained for a better understanding of the market and the demand of commercial properties can open the doors to better planning. Getting a certification of CCIM or Certified Commercial Investment Member can be the icing on the cake. So what are you waiting for? Find out ways of getting this certificate as one of the accolades that will add to your credibility.

    Educate the Buyers:
    Understand that you are the seller, so, you should know more about the property than anyone else. Buyers who show more interest and contact you should be educated on the USPs of the building. Many buyers will be hesitant to ask what makes the building unique and most sought after. You need to be proactive in letting the information before it is even asked. That will add an edge to your confidence and credibility.

    The Bank is your Best Friend:
    Meeting the banking institutions and helping the buyers to get the bank finance the loan amount for the buyers can work in your favor. Many buyers don’t close the deal as spending money from the pocket can be irrelevant. Getting bank pay for 70% of the amount also helps in a major way. Remember that you gain trust with your knowledge that is your power.

    The Crowd:
    If it is a builder planning to sell the commercial property, ensure that the property is at a place where it encourages more and more buyers and consumers reaching out for various needs to be satisfied. A prospective commercial building buyer will be lured by this aspect of the location. It is, therefore, important that the building to be sold be built at an area which is closer to all the commercial complexes and the end buyer sees profit in buying your property.

    Following the above tips, you can definitely be faster than usual at selling your commercial building. Commercial properties need more homework to be done than residential properties. The buyers are different than that of residential properties. They will need more professional approach than casual. Commercial property buyers are mostly businessmen who like it the business way. Ensure that you appear professional during your meeting and dealings than being a little friendly.

    Of course, who doesn’t like a personality that is friendly and welcomes people with a warm smile? In commercial dealings, that might be interpreted in a wrong way. It is advisable to mirror the behavior of the buyer.

    Before listing the property for sale, check the market value. If it is too expensive than it should be, buyers will not show interest in even striking a conversation in the first place. If it is too less, buyers might ignore assuming that the property is not worth buying. You can use the method of capitalization of the property for sale in order to figure the exact value of the property. The price mentioned or cascaded should be as per the market rate. Having a few photos uploaded can be a good idea.

    Note: If not planning to sell out, invest in the commercial property to give more gain in future.

    Finally, Delhi To Participate In The Urban Housing Mission

    Urban Housing PlanThe union housing minister, Venkaiah Naidu, has approved the MoA (memorandum of agreement) which has been signed between DDA (Delhi Development Authority), DUSIB (Delhi Urban Shelter Improvement Board) and the housing ministry, to encourage the execution of Urban Housing Mission in Delhi.

    Though the vision of Housing for All by 2022 – Pradhan Mantri Awas Yojana (PMAY) was launched way back in June, 2015, Delhi had not been a participant in the mission.

    But the Lt. Governor of Delhi has decided last month that there will be participation from Delhi’s side and therefore, DUSIB and DDA will sign an MoA as per the guidelines of the mission. However, the Delhi government was also required to sign the MoA, but this criterion has been excluded by Naidu.

    The state level central agencies will be DUSIB and DDA and they will execute the ISSR (In situ Slum Development) element of PMAY. DDA will also be responsible for Affordable Housing Partnership (AHP), CLSS (credit linked subsidy scheme) and BLC (Beneficiary Led Construction).

    Rs. 1 lakh to every beneficiary will be provided as a central assistance by the government under the element of ISSR, Rs.1.5o lakh under BLC and AHP.

    Till now, the number of affordable houses for urban poor which have been approved by the ministry of housing and urban poverty alleviation is 18,75,389. The investment is Rs.1,00,466 crore with a central assistance of Rs. 29,409 crore.

    Believe It! These Simple Add-Ons Will Make Your Home Even More Stylish & Chic

    Stylish HomeTo make your home look exceptionally good, you don’t need expensive things. You just need simple things that have an elegance and style factor attached to them. Just simple add-ons for stylish home are all you need.

    And as more than quarter of the year is already over, why not give a little twist to your home by styling it up in the best way possible!
    Just get these 3 extremely simple additions in your home décor to give it an elegant look –

    1. Vertical GardenVertical Garden Since the time, the concept of flats and apartments in buildings have come up, the idea of having a separate garden in every home has completely vanished. But should you forget the importance of greenery then? Not at all! In these cases, vertical gardens become your best friend. You can create vertical gardens on any wall of your house! Vertical gardens are modular systems which can be made suitable for any type or size of the wall. In a vertical garden, depending on the weather conditions, 125 types of plants can be grown. Vertical gardens add freshness with a chic look to your house and most importantly, are very innovative and uncommon!

    2. Kitchen Island Kitchen IslandIf you have a big kitchen and sufficient space, then the best way to utilize that space is to use a kitchen island. Make your home stylish! Kitchen Island increases the space efficiency of the kitchen and at the same time vitalizing the platform space. Since the amount of storage present in a kitchen is extremely important, Kitchen Island also increase it by providing extra shelves, cabinets and drawers. But the best part and function of Kitchen Island remains that it becomes so important for various uses of the family members. It becomes an informal seating place for all the family members. Family members can chat, share drinks, play board games and even have dinner together.

    3. Chaise Lounge Chaise LoungeWhat do you need after a tiring day? Or what do you want when you just want to laze around during the weekend? You just want to give rest to your feet and relax in a chaise lounge. Chaise lounge, a perfect blend of a chair and a bed, is a saviour for you when you want to lay back with all your worries taking a break. A perfect add-on for a stylish home.They are available in multiple sizes and extremely attractive colours and designs. They become your partners when you just to read peacefully, just take nap or watch television for continuous hours. And what is better than relaxing in an utterly stylish accessory?

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    Why To Get Your Interior Or Exterior Designed By A Professional?

    Dining Interior
    Dining Area Entrance

    A home for which you have been summing up the money for n number of years and have made all the efforts to make it a “home” shall not be left at its own. Adorning the home is certainly you responsibility but, we always suggest to give it to the right people for interior designing and decorating. And even if you talk about your office, only the professionals can design and decorate accurately with respect to accommodation.

    Who are the Right People?
    The professionals who have years long experience and have received respective degree or certificate in same field can understand the architecture of your home or office and hence, design it accordingly. Experienced interior designers study the construction, location and surroundings. Following the factors, they proceed to plan for interior or exterior designing and then execute accordingly.

    Below are few images of interior and exterior design ideas as executed by Arc Studios.

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    Effect of Nomination In Property Inheritance Everybody Must Know

      Property inheritence
      Property inheritance in India is a huge issue which can be in disputes due to the nomination that was done in a will. A will is a legal document made by the owner of the property which includes all his possessions that will be transferred to the legal heirs after his death. However, if there is a nomination for the will then it takes a twist and leaves the legal heir into a dispute mode.

      Basically, if the nominee for a property is a genuine one then the legal heir may get all that he/she is entitled to. The nominee has legal rights over the property and other assets but subject to some exceptions.

      These exceptions include that any property which has a nominee in it will become the owner and the guardian of the property only until is handed over to the legal heirs. Nominee has no right to claim the property as his if the legal heirs are alive. The property rights in India differ than other countries. Since the properties and flats are governed by the cooperative societies act, it has defined that if an owner submits a nomination for the flat or the property then the nominee has the right to the property only until he/she hands over the property to the legal heirs.

      However, in the case of shares and provident funds, the nomination has a different rule. The nominee becomes the owner of the assets and does not need to transfer it to the legal heirs in any circumstances. There are different ways to get this cleared. Every action will have a different course that needs to be followed. Let us look at them in detail.

      When a will is in place and when it is not
      When a will is in place and all the details have been mentioned by the owner; then the nominee is just a guardian of the property and will need to hand over the same to the legal heirs. However, in case if the deceased has mentioned that the nominee gets a set of assets, in that case the legal heirs have no right to claim the same from the nominee. If the nominee has been given the insurance claim post the death of the deceased, this can be rightfully claimed by the nominee only if the legal heirs do not claim it back from the nominee.

      A will makes sure that the family members and legal heirs get what they should as per the wish of the deceased. But when a will is not available, there can be a difference of opinion among the legal heirs and other family members. Property and assets are all taken into disputes after the owner has passed away and causes a lot of grief to all. It is always advisable to make a will to ensure smooth distribution of the property and other assets.

      A will should be the same as the nominations for a property. This makes the life easy for all as the person gets what he/she is entitled to. So, if the son has been the nominee for all the investments then he should only be mentioned in the will for all the ownership of investments. If the wife is the receiver of investments as per the will then the son gets nothing and may create a dispute.

      To solve this issue, there is an easy format for all individuals, created by the lawyers which are easily available online or with any of the lawyers. Just fill them up and seal it with the laws as applicable. It makes the work easier and clears the air from who gets to keep the property.

      If there is no will and a nominee is decided well in advance; then the nominee has the power to hand over the property to the legal heirs. This can again go into disputes if the nominee does not work responsibly. This can also lead matters into court which will then be scrutinized in detail and a verdict will be given. However, all this can take a long period and cause grief to all the members of the family. Therefore, a responsible nominee is a must for cases where a will is not available. All such things highlight the effects of the nomination in property inheritance.

      Your Search To Get A Loan For House Renovation May End Here…

      Home Renovation
      Do you know why ‘home’ is often referred as ‘dream home’? It’s because we do not just wish to buy a house of our imagination but also because we live the dream until it’s fulfilled. Buying a home is a significant achievement but what matters is whether or not we maintain it.

      You would find people who live in old houses which are on the brink of collapse. They are often compelled to affordability issue.

      Nonetheless, if you pay close attention to the maintenance of your home, you can improve its life as well as its value.

      When did you paint your home last or when did you change the platform in your kitchen?

      If you thought for more than a second to respond to this question, be sure it’s been pretty long. If you delay maintenance work thinking you will save some money, you are probably making a big mistake. Saving today may cost you in future when it will the time to get the value for your home.

      So, what to do? How should you deal with this situation then?

      You should start maintaining a reserve for house renovation to avoid the last-minute rush. For example, if you think you will have to do some refurbishment in your kitchen and paint the entire house over next 2-3 years, plan for it well in advance.Estimate future expensesSuppose, Mr Rajesh Shetty was to renovate his house today, he would have required Rs. 2 lakh. Therefore, assuming 6% inflation, he would need Rs 2,24,720 after 2 years.

      Cost of house renovation (today’s terms) Rs. 200,000
      Time left (years)  2
      Inflation  6%
      Estimated cost Rs. 224,720

       

      To build the sufficient corpus, Mr Shetty will have to invest Rs. 8,836 every month in a recurring deposit for 2 years which will fetch him 6% post-tax returns.

      Estimated cost of house renovation  Rs. 224,720
      Time left (years)  2
      Post-tax expected rate of return p.a.  6%
      The money you need to invest p.m. Rs. 8,836

       

      However, high monthly household expenses, EMI commitments and children related expenses leave a little surplus in his hands. As a reason, if he invests only Rs 5,000 per month for next 24 months, there will be a shortfall of Rs 97,560.

      Actual investments p.m. Rs. 5,000
      Value of investments (2 years from now)  Rs. 127,160
      Shortfall Rs. 97,560

       

      Now the question is, shall he postpone the renovation work?

      Ideally, No.

      Lack of funds can’t be a constraint to something that can protect the value of your precious asset for years. However, some of us are likely to face a problem here.
      Getting loans from the banks for house renovation is not easy. And if you want an unsecured loan, your task is even tougher. Banks may only selectively offer housing improvement loans to people who have higher credit scores and high net cash flows.

      Here, Peer-To-Peer (P2P) Lending platforms may come to your rescue.

      Heard About P2P Lending Before?
      P2P Lending platforms help borrowers and lenders connect with one another directly and uninterruptedly allowing them to strike a win-win deal. P2P Platforms list loan projects after doing a careful assessment of each of them. Once the lending project is listed on the platform, registered investors on the platform, at their discretion, decide the amount they want to commit to the project. For example, your loan proposal of Rs. 1 lakh may be funded by 5 investors. This drastically reduces the default risk for investors and expedites the process of fundraising for the borrower.

      P2P Platforms Vs. Banks

      P2P Platform Vs. Banks

      P2P lending

      The list of P2P Lending platforms has been growing like never before, but, it is important for you to approach the right one. You should ideally go with a platform that follows transparent credit evaluation processes and offers an attractive deal to a borrower. A P2P platform shouldn’t let investors pressurise borrowers for the higher interest rate. The borrowing rates shall be proportionate to the level of risk involved in lending.

      i2iFunding fits the bill…
      If you are ready to disclose correct information and confident of being able to honour your EMI commitments, your search for the right P2P Lending platform may end at i2iFunding.

      Unlike banks, i2iFunding cares more about the ‘willingness of the borrower to repay the loan’. Lower credit score doesn’t automatically make anyone dishonest. Creditworthiness has got more to do with the intent to repay.

      As a result, you would find many loans, which banks usually reject on preset 3-4 parameters get sanctioned at i2iFunding.

      But make no mistake…
      At i2iFunding two things are never compromised—transparency and credit evaluation. i2iFunding lists loans purely on the merits of the proposal and that too after obtaining all the requisite information.

      Based on the credit assessment report, each loan is classified into any of the 6 risk categories—From ‘A’ to ‘F’ where ‘A’ denotes the highest safety.

      Being one of the most technologically advanced P2P Lending platforms, i2iFunding offers immensely helpful assessment tools to investors. It ensures that your proposal gets optimum viewership on the platforms. Investors at i2iFunding are better informed since the platform also sends mailers to circulate information about the newly listed loans.

      Unlike other platforms, which allow investors to bargain for the interest rate, i2iFunding fixes a rate for every category. For everyone falling in the same risk grade, the borrowing rate remains the same.

      i2iFunding understands the value of your emotions and thus, doesn’t lazily reject your loan proposal like banks do. If you didn’t refurbish your home so long just for want of money, you don’t have to wait any longer.

      First Ever Mortgage Guarantee Firm Launched In India Will Cover Houses Under PMAY

      pmay
      A guarantee cover firm has been launched by the India Mortgage Guarantee Corporation (IMGC), to widen the reach of Pradhan Mantri Awas Yojana. Mortgage cover for PMAY will lower the level of risks in the bookings of the lenders.

      With the help of this product, the homebuyers under PMAY can extend their term of loan to 30 years. Moreover, they can also get an extension of 7 years beyond their retirement age.

      Hope is that the step will be a help in achieving the vision of “Housing for All” by 2022.
      The IMGC has guaranteed to cover the first loss up to 20% of the outstanding principal balance. This implies paying the EMIs to the maximum coverage, when the account happens to be a non-performing asset.

      The main motive behind this proposal was to augment the subsidy on the interest which is provided to the homebuyers but at the same time provide the needed support to the lenders too. This will make it a beneficial proposition for both the parties, buyers and lenders.
      This product will be offered under a standardized program for lenders. IMGC is presently in collaboration with two banks and four Housing Finance Companies (HFCs). It also guarantees for 10000 retails loans across the buyers all over the country.

      Construction of about 16 lakhs affordable and budget homes has been approved by the government under PMAY, with an investment of about Rs.90000 crores.

      A mortgage guarantee for home is the product which compensates and covers the losses if a homebuyer is unable to pay back the home loan in time.

      If this product is opted with the home loan then it helps in increasing the affordability for the buyers through bigger loan.

      Mahindra Aura Residents Deprived Of Public Facilities

      Mahindra AuraIt’s not a new update that there is an inadequacy in the public transport system in Gurgaon. But the residents of Mahindra Aura, in sector 110, have been suffering the most from this problem as they have no adequate roads to connect them to the city. Water shortage and no sufficient streetlights are also matters of concern there.

      Mahindra Aura is, undoubtedly, a beautiful and lucrative consturction by the Mahindra Lifespaces Groups. But, the lack of basic facilities and amenities around the apartment in Gurgaon brought the residents of Mahindra Aura in a serious disappointment.

      As told by the residents of Mahindra Aura to a news portal, the single road that was present near Mahindra Aura was also dug up recently for the flyover construction. Helplessly, now they have to take up the route of New Palam Vihar and railway crossing, which gets chaotic with large volume of traffic because of its narrow nature.

      Had there been rickshaws or autos available there, things would have been slightly easier for the residents. But unavailability of any kind of public transport makes commuting for the residents nearly impossible. Only the cabs were available in this area but they have also started avoiding pick-ups from this area due to the on-going flyover construction at this place. The only source for commuting, for the 500 families living here, are their own vehicles

      If the transport problem was not enough, the residents are also constantly suffering from the scarcity of water supply in their homes. They, sometimes, have to pay to pay from their own pocket to get the water tankers in their homes.

      Other problems include the security issues and the absence of any hospital in the vicinity.

      About Mahindra Lifespaces Developers
      Mahindra Lifespaces Developers is one of the leading real estate firms whose prime motive is keeping the customers happy and satisfied.  According to a source, their team at Mahindra aura is looking into the matter and is providing solutions like arranging for water tankers for potable water.
      Water scarcity is a prevailing problem in many parts of Gurgaon and Dwarka and is not limited to just the area of Mahindra Aura.

      IGI Airport To Have Its Own Metro Connecting The Terminals

      IGI metro
      Air Train at the IGI airport in New Delhi is likely to get launched soon. It is a metro that is specifically meant for the passengers to move from one terminal to another. Many important and influential airports of the world like London Heathrow, New York’s JFK, already have these metro lines connecting different terminals of the Indira Gandhi International airport. New Delhi’s will be the first airport in India to flaunt about this development.

      DIAL (Delhi International Airport Private Limited), has proposed to start an Automated People Mover (APM) between the three terminals on the IGI airport – T1, T2 and T3. Earlier, the work of this APM was planned to start in 2020 when the construction of T4 is also supposed to begin. But keeping in mind the volume of traffic and the speedy growth at the IGI airport, the aviation ministry changed the decision in favour of early launch of the metro project. It has told DIAL to start executing the work on APM and make the metro at IGI airport ready as soon as possible.

      Currently, the passengers travel between the terminals through buses. Before the tunnel road was build, it used take up to around 45 minutes. But as tunnel road has made the way shorter, it takes up to around 30 minutes.

      The DMRC will be consulted by the DIAL to do a technical research on the routing to come out with estimates for this air train project. A New York based firm has also been consulted for the same which has come out with a report, according to which, four stations will be there – at T1, Cargo terminal, Aerocity, and a common for T2/T4.

      Data is being collected on the estimated number of inter-terminal transfers in the future years by the airport operator, to decide upon the frequency and the number of coaches.

      The Air Train at IGI International Airport is likely to start with just two coaches with leaving at intervals of 2-3 minutes. The frequency and capacity of this train will depend on the intensity of traffic of people.

      DIAL is waiting for the report and the estimates from the DMRC to further move up to AERA for the decisions of funding for construction of metro connecting IGI Airport terminals.

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