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Team iPropUnited

Team iPropUnited
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Why Should You Take Legal Opinion While Buying A Home

    By
    Team iPropUnited
    -

    Why Should You Take Legal Opinion While Buying a HomeBuying a home is one of the biggest decisions we take in our life and even more important is taking a legal opinion in doing so. It is important so that you are safe from any frauds that might otherwise take place. An opinion of the expert does make a big difference in how you look at a property. To know why we need a legal opinion before buying a home, let us look into the various benefits that one may get by taking this step.

    Benefits of taking legal opinion while buying a home
    Works in favour of the buyers: Many buyers are so excited about buying a home that they don’t take into consideration the most important aspect of it and that is the paperwork. Without proper paperwork, one can fall into a ditch in the future. A buyer might not be able to gauge these obstacles coming but a legal expert can. He or she will guide on the pros and cons of buying the property and give a second thought so that you are saved from future disputes. Even when we take smaller decisions in life, we like to seek advice from our seniors and elders. That gives a better understanding of the scenario.

    Assistance in getting the paperwork: While it can be difficult for a buyer to get all the paperwork and documents in one place, a lawyer can get this done in a shorter span of time. Everyone is scared of legal implications and when you meet the builder, you being accompanied by a lawyer, the builder will be more serious in providing the documents as soon as possible. You will also be able to check whether the documents are authentic or mere manual work to get the property sold. With so much help from a lawyer, you can’t do without a legal opinion, can you?

    It costs you but works to get things transparent: Well, when you hire a property lawyer, you need to pay them. They don’t come for free unless you know someone in the similar field. When the builders give you the Deed, it is the lawyer who can cross check if the Deed is in favour of both the parties or only of the seller. The buyer’s agreement needs to be signed by both the parties and this also will be taken care of by your legal friend. If the agreement has any hint that signifies that the property has any complications, it will get transparent before you get into a messy situation.

    Approvals Happen seamlessly: When you go to a buyer and ask him for all the approval documents, he might hesitate for XYZ reasons. A seal of the Municipal bodies is required before a building is constructed in that particular place. Without the approval, construction can’t take place. The process, which usually takes quite long, will now be approved and you will have everything before you buy the property. It is important that all the documents are ready and sealed and signed by the concerned authorities.

    An advisor in disguise: Property decision is not easy and when you hire a lawyer who has dealt with such cases in the past and has rich experience, you will know the property from inside and outside. This may also lead to cancelling the deal at a point but it is always good to follow the phrase, “Prevention is better than cure”. The property lawyer will be your advisor in every step you take in buying a property and trust me, it works in favour of you and you will be able to breathe a sigh of relief.

    Many people have been duped by such property dealings which were done in the presence of only two parties; buyer and seller. It is a major decision and you can’t the steps so casually. There has to be proper planning, advice seeking session before you actually venture into it.

    You will be in safe hands when you have a legal expert accompanying you for property dealing as they have come across every situation of property buying and they know their way out. They have the experience in smelling whether the property is legal or illegal and thereby helps in opening your eyes that may have been blindfolded by fake promises.

    Why Real Estate Business Is Not Right

      By
      Team iPropUnited
      -

      Real Estate BusinessIt is a tough question and everyone has a different point of view. Business is always the right choice to earn handsome revenue. But choosing the right line of business at the right time makes a lot of difference in your income pattern. Not everyone is made for every business.

      You need to weigh your options well before you act on it. There can be times when the business works wonders for you or may break you completely. You need to know if real estate business is your cup of tea or not? This can be understood if you ponder over the below points.

      •Fixed income source
      Your income should be fixed to the level where you can meet ends on a monthly level without much hassle. This will give you peace of mind which is very important for work-life balance. There are times when you may get a great income but the other day it is next to impossible to find a client for your living. There is cut throat competition in every business and real estate is not different at all. So, if you are assuming to earn a lucrative amount every month and that without any hard-work, this one is not your path. Moreover, if you love to read the salary credited message every month, you might have to sacrifice on that.

      •Focus and path creation
      We all do not have it in us to find the right path and walk on it with ease. We need someone who is more experienced than us in the field we are trying our luck at. If we do not find such a mentor or are not able to cope up with competition or pressure, then there are more chances of us getting into losses and a declining business.

      •Flexibility of work time
      There is no work time in a real estate business as the clients can be very rigid. Finding a home while working can get difficult and all you get time is on weekends or on holidays which can be ruined for you. The work-life balance can get into a huge jeopardy which can get on your health and mental peace. You are in the business 24 hours a day and 365 days a year. Festivals are the time when we expect holidays but that’s the time when many like to buy a property. During peak season, you are busier.

      •Networking
      You need a strong networking base to work such a business. You should know which house is on sale or which investor wishes to give their house or commercial property on lease. All such things will help you to create inventory for you which can be pitched to your clients. This is not the only thing required as you would need to source clients too. It is imperative to know how to do so as this is going to be your bread and butter for the rest of your life. You need to be socially active to create a network in which you can work.

      •Investment
      You need investment in any business that you do. This helps to keep stock of things so that when an emergency occurs you are ready for it and give the best to it. You may start part time to gain some profits and then get into it on a full-time basis. But all these things can get tricky at times and you may get financially affected too.

      •Strong Follow-up
      If you are a person who does not like to run behind people to get updates and follow ups then real estate business is not for you. This is the most important part post sourcing. If you have found a client and have serviced them then you need to constantly be in touch with them to know what their decision is. You may need to push them to know what the hiccups are that they are facing and clear them to convert them into a sure shot client. It is always necessary for any business to keep a constant vigil on the clients and their movements as you may lose a client who is surely going to be converted.

      If you have the knack for all this and you think you can pull it off then the sky is the limit for you, else find a new business apart from real estate as it can get you into a soup big time.

      We all work for earning so that our daily needs can be supported and our family can live happily. But to get such an income if we must sacrifice our family life entirely then it does not make a point to continue such an avenue else it will take a toll on us and make us mentally unstable.

      When Is It A Genuine Real Estate Marketing?

        By
        Team iPropUnited
        -

        genuine real estateReal Estate Marketing is trending but how do people know what you are marketing is what you are doing. Many real estate agents have not done what they had promised. If you trying to fit in there, then your marketing strategies should be genuine and more than that you need to live up to the words you spread. If you want the result, the efforts should be good enough. Marketing is not always advertising or spreading the news through leaflets, banners and other advertisement tools but also has other ways of doing so. Many reputed and successful real estate agents are trusted for their inter-personal skills. If it sounds new to you, exploring this can be a gateway to unexplored possibilities that you haven’t imagined before.

        Genuine Real Estate Marketing Elements

        • Intentions should be genuine: This is true that what you mean reflects on your face and if you do something genuinely, that will reflect in your activities. Intentions that are honest and true should be in everything you do. This attribute cannot be measured but observed. This will ensure you good marketing because your clients will talk to people about you and this way you get more popular.
        • Maintain Healthy Relationship with your Clients: Well, this should be a strategy in all businesses. Without a healthy relationship, no relation works and when it is work, it gets even more crucial because no one is bound to associate with you when you don’t have the kinship. It is imperative that you have an excellent relation with each of your clients so that they praise you and come back to you every time. Maintaining old clients is always easier than making new clients.
        • Show your Efficiency: When you are associated with some builder or individual landlords, you need to make sure that space is filled up in the shortest possible time. This gives a good response to the cut-throat competition and also helps you get more credibility from those parties. What’s the consequence? You get more work in the long run. The race is really furious and one mistake, you are fired and someone else is hired. This is one way to market your potential.
        • Be transparent with the clients: If you hide even the most trivial fact from your clients, they might lose trust in you by hearing it from someone else. This is the biggest mistake people tend to do. For you to establish your marketing strategy as genuine, keep your honesty intact as that bonds the two parties together forming new doors of opportunities which the existing client might bring to you.
        • Deliver what you promise: I am sure most of you have encountered this. You promise a flat at Rs 10,00,00,0 and later you change the price to Rs 15,00,00,0 giving XYZ reasons. Does that work? Not at all. You need to live by what you had promised. If you are not sure of the price, don’t quote it blindly to leave an impression. The impression, in the end, is worse, isn’t it? Stick to what you say or don’t say at all till everything is finalised. You may give an estimate but never quote.
        • The Content is the King: Don’t forget to improve the quality of the content when you are advertising because the words should be interesting. If not, people judge you as a poor real estate agent who doesn’t like to research. Your impression is the first thing people will make before they even come to you. Make sure, you have a strong hold over the content. If you lack the expertise, spend some money and hire someone who is proficient in the niche.
        • Spend on Marketing: When marketing is done at a large scale, people know that the marketing is aggressive and there is a strong foundation. If it is done at selective places, it might smell fishy. When something is doubtful, people don’t approach. Make your visibility seen in every corner of the city; no matter if you have to spend a little beyond your budget. The return will be good. When you market everywhere, there is another aspect to it. People will take you seriously and genuine as dicey people don’t have the guts to be visible everywhere.
        • Maintain your Reputation: Why do we trust certain brands more than the other competitor products? It is because of the brand’s consistency. Same applies to real estate marketing. If you are consistent in maintaining your track record, you will be approached by clients more often than ever. That will add charm to your marketing techniques.

        Are you ready to pull your socks and do the needful so that your action and behaviour reflect genuineness? Get ready to mark a place in the niche and create news everywhere you go. Genuine people are looked up to while dishonest are looked down upon.

        Proposal Of Noida Land Rates Reduction To Be Made Soon

        By
        Team iPropUnited
        -

        noidaNoida Authority has announced that it’s planning to revise the land allotment rates. With the supervision of ACEO (additional CEO) AK Srivastava, a committee has been formed to analyze the rates and to decide whether there can be rates reduction of Noida property. The decision is taken after the meeting of Noida Authority Board held on 1st June.

        The committee which has been formed also has Manmohan Mishra (Financial Controller), VP Pathak (Chief Legal Officer) Saumya Srivastava (Deputy CEO) and other important officials from the departments of land and property. The committee will deeply scrutinize the current allotment and market rates and also the present circle rates.

        After the rates are studied, a report will be compiled and submitted. The rates reduction of Noida property will be proposed in the report and the report will be shown in the next board meeting to be held in the next three months.

        The officials have not revealed the amount by which the Noida land rate reduction will take place but they have said that the schemes launched lately were not at all fruitful.

        Also, YEIDA and GNIDA have announced that they will not increase the land allotment rates in the next one year.

        10 Things You Should Never Do In Real Estate Market

          By
          Team iPropUnited
          -

          real-estate-marketReal Estate Market is profit giving as well as loss incurring. To avoid the extremities and be well-balanced in Real Estate Market, you should avoid doing certain things if you want to maintain the sustainability and reap the benefits of Real Estate Business. Yes, there are 10 things in total that you must refrain from doing for better results and fruitful business. Let us venture into those ten actions that one must avoid being a Real Estate Agent.

          10 Things a Real Estate Agent should never do to excel in the Real Estate Market

          1.Never assume things: There is nothing like perfect conditions. Every business has its pros and cons. You should never assume that the situation will always be in favor of you. Ifs and Buts are a part of Real Estate Market. Every situation cannot be handled with similar approach. Be creative and take different ways of tackling a situation than using the same strategy.

          2.Not Paying Attention to Personality: It has been observed that most of the real estate marketers you will find are either too shabby looking or too over-dressed. There has to be sync in your personality with the knowledge you possess. You need to present your ideas well to the prospective clients so that they don’t judge you based on your personality. Have a dynamic personality with great communication skills.

          3.Not Forming a Team: Real Estate Market needs team players and not just individual players. In order to do better and expand, a successful real estate agent will make efforts in forming a team that is capable of maintaining the Real Estate Market standards in providing the best properties to the clients. There are a few who forget that teamwork plays a vital role. Pay attention to team work.

          4.Not Bark: A true businessman never barks in the air only because he hasn’t been able to meet the expectations of the buyers while others have. A healthy competition is the key to success in every business arena. Get the best sportsman spirit inculcated so that no competition makes you jealous or anxious. Evil feelings are not healthy. They lead to a bad reputation in the market dipping the trust that you have already maintained so far. Praise your competitors as that works as the perfect attribute in winning hearts and businesses.

          5.Time is Money: This phrase holds true for every successful businessman. If you don’t value time, the time won’t value you. You need to know that everyone is busy in life and can’t be fooled around every time. For example, you have an appointment of showing a property to a potential buyer. The party arrives and somehow, you have got to know that the property has been sold out; you find excuses to cover that mistake and call the party some other day. In such situation, honesty works better than lying. If you had informed them about the situation, they would have contacted you for some other property. This way, your reputation would not be on stake and the time would not have been wasted. A little preparation and homework before the appointment could have worked better, don’t you agree?

          6.Don’t get disheartened: There is no success without failures and you need to know that failure is the pillar of success. For any reason, the failure might be; don’t get disheartened as there are better ways of tackling the downfall. Some people even exit Real Estate Market for the fact that it didn’t give benefits the way they had calculated. In such scenario, ensure that you stay strong and never give up.

          7.Marketing is compromised: Real Estate Market works well on marketing the right way. If you think that without spending on marketing, you can reach the summit, you are missing on the catch that “Real Estate without Marketing is Worthless”. It is always advisable to have the best marketing budget for your venture. Try not to cut down on that budget because it will give you tremendous raise in the near future. Visibility is the thing you need to excel at.

          8.Not networking: Networking is one of the most effective strategies that work in the long run. It brings one close to new people and exchange contact details. This way, you may turn out to be helpful in finding the right property for one of the persons you had met in the past. There is nothing like networking these days. People network for business and business network with networking.

          9.Shy away from answering: There may be many questions that an interested buyer may ask you. If you answer “that’s not my cup of tea” might sound rude. Try and speak of everything that you can under the sun and build rapport even if you don’t know the answer. If you try to be too straight forward, you will miss the human touch that is important in getting good business done in future.

          10.Never Plan: A well-planned business structure takes you close to your expectation, if not exactly to your expectation. A true Real Estate Agent will do everything possible to know about a region, locality, state, business opportunity and client’s perspective before diving into the business venture is the right way of thinking the way forward.

          Real Estate Market is truly dynamic and needs an immense amount of patience and hard-work to reach where you want to be. To stay strong and non-vulnerable to any stumbling situation, you need to follow the above ten points without a miss. In short, you should avoid not doing the above-stated points. These are the success mantras that will fetch you the required result in a short span of time.

          Review Of Progress In Homebuyers’ Issues In Noida, G Noida, Done By UP CM Yogi Adityanath

          By
          Team iPropUnited
          -
          CM Yogi Adityanath
          Source: Realty media

          Satish Mahana, the industrial development minister of Uttar Pradesh, has reviewed the improvement in home buyers’ issues of the three authorities – Greater Noida Authority, Noida Authority and Yamuna Expressway Authority. Following the orders of UP CM Yogi Adityanath on the problem, the meeting was conducted at Noida Golf Course.

          Industries Minister, Satish Mahana, has again instructed the officials to try everything to solve the homebuyer’s issues in Noida and Greater Noida. The next meeting will be held in Lucknow on 15th and 16th June, 2017.

          During May, 2017, Satish Mahana had promised that he would do everything possible to settle homebuyers’ issues after an 8-hour meeting where problems of both the sides – buyers and builders-were heard. After the meeting he had openly said that stringent and severe measures will be taken against builders, including action for arrest if required, if they fail to keep their promise of delivering possession.

          To let the homebuyers register their properties without any delay, the Authorities are also facilitating the process of granting completion certificates to the residential projects.

          The Greater Noida Authority and Yamuna Expressway Authority have also given a report with details of measures taken by them to settle the homebuyer-builder issues.

          The next improvement on the homebuyers’ issues will be provided to the UP CM Yogi Adityanath in Lucknow.

          DLF’s Rental Income To Reach Rs.2900 Crore In FY18

          By
          Team iPropUnited
          -

          DLF-BuildingDLF, a leading name in the real estate sector, will witness a rise in its rental income this fiscal year. The DLF Rental Income is expected to reach Rs.2900 crore (12 per cent) owing to better outputs from present commercial assets and new properties being added in Delhi and Chennai.

          The total DLF Rental Income earned by the largest real estate was Rs.2600 crore in the previous fiscal year.

          The reason behind the rise in rentals is that the leasing agreement has expired after nine long years and the current stocks have been renewed by the company at more value.

          Apart from this, an area of 1 million square feet will also be added in Delhi and Chennai during this fiscal year.

          The quality of the malls and buildings provided by DLF along with the sustainability and safety makes most of the tenants renew their leases at the market rates once their term expires.

          On one hand the residential segment is undergoing a huge downfall in terms of demand; while on the other hand, the commercial segment of real estate is actually witnessing a rise.

          Rs.170 Crore Raised By RG Group For Residential Project In Noida

          By
          Team iPropUnited
          -

          noida RG Group, which is a real estate company based in Delhi, has raised an amount of up to Rs.170 crore from an equity firm. The raised funds will be used in a residential project by the group which will be developed in sector 120, Noida.

          Presently, two projects are being developed in in Greater Noida and Noida respectively, by the RG Group.

          The amount of Rs.170 crore which the group has raised from an equity firm will help them in completing the delayed work at the residential project in Noida. Also, a portion of the amount will be used in paying the outstanding the dues to the Noida Authority to receive the No Dues Certificate.

          Noida authority has executed the reschedulement policy and under this policy, RG Group is planning to clear 25% of its outstanding dues, while the remaining would be paid in regular installments. Once the group will clear off the dues, they will be eligible for starting the process of registry. The homebuyers will also benefit from this move.

          GNIDA Encourages Down Payment By Introducing A New Scheme For Allottees

          By
          Team iPropUnited
          -

          projectsThe Greater Noida Industrial Development Authority (GNIDA) has chosen a different path and brought a new land scheme for the allottees in Greater Noida. Under the land new land scheme, the allottees who will make the maximum down payment will be offered sops by the authority for that respective property.

          Currently, when a property is bought from GNIDA, the allottee is supposed to pay 5% of the amount at the time of registry while 5% is supposed to be paid later when the allotment letter is issued. The remaining amount is paid in regular installments at the rate of 12%.
          But the new scheme is designed to encourage the down payment and those paying the maximum amount of down payment will be offered sops.

          As the GNIDA is facing the problem of lack of funds since a long time because of the outstanding dues by the defaulting builders, this step will GNIDA in getting a constant flow of income.

          As per the scheme, different slabs of 30%, 40%, 60% and 90% will be made and people will have the option to select the slab suitable to them. Those who will choose the 90% slab making the highest payments will be provided with incentives. The scheme will benefit the homebuyers along with ensuring flow of income to the authority.

          A low rate of interest might be one of the incentives of the scheme.

          The proposal will be discussed in the next board meeting where the final decision will be taken. Once the proposal gets finalized, GNIDA will become the first among the three authorities to have such a scheme.

          Owing To Liquidity Crunch, GNIDA Slashes Budget By Rs.631 Crore

          By
          Team iPropUnited
          -

          GNIDAThe budget of Greater Noida Industrial Development Authority has been reduced by Rs.631 crore, in comparison to last year. This decision was taken at the board meeting which was conducted on Monday.

          A total budget of Rs.6443 crore has been issued by GNIDA, where Rs.1096 for development and construction, Rs.1100 crore for land acquisition, Rs.114 crore for development of rural areas and the remaining Rs.3510.8 crore for other works. The new proposed metro line from Sector 71, Noida to Greater Noida has been issued to a total of Rs.400 crore.

          However, in the previous year, a total of Rs.7074 crore was issued by GNIDA. But this year, as GNIDA is facing a liquidity crunch, it is making cutbacks in the budget pertaining that it owes around Rs.7000 crore to the Authorities.

          One more decision has taken by GNIDA, according which plots of allottees in sectors 2 and 3 will be shifted to another sector as they are not able to get possession because of the legal cases pending.

          Also, GNIDA will be choosing the option of e-tendering in the projects which will cost more than Rs.1 lakh.

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