India has seen a boom in the property prices in the last two decades. This is basically due to the large increase in the demand for properties in all the classes. Every open plot will have some or the other construction happening be it commercial or residential. This has given rise to the home loans being taken from banks and other financial institutions. However not all the people who wish to buy a house or any other property can do so. This is for the simple fact that the rates of the properties have been reaching the sky. It is impossible for all to shell out such a huge amount and make a property for themselves.
Property prices going down, is what most middle class home buyers wait for. But that’s only one aspect of it. There is more to it.
Demonetization
With the ban of currency notes in India in the end of the year 2016, there have been a lot of buzz about the decline in property prices. This move by the government was a bold step to wipe out the unaccounted cash prevalent in the market. Such a step has brought down the property prices but the sales have not been able to increase. The reason is that money is not flowing in as expected. Moreover, there is a lot of pressure on the builders and developers to sell their inventory to start the rolling of cash. But selling at a loss is not acceptable to anyone.
Positives
The impact on the financial market with the demonetization has given a lot of positivity to the real estate market from consumers stand point. Since the inflation rates will decline in the times to come, the bank interest rates will reduce making the home loans cheaper. This means that the consumer can now avail loans at a lower interest rate and book a property for self-use. However, this is not the only game changer because the primary market will not see major changes. But the secondary market will be under immense pressure and can give away further discounts due to the stress related to lack of finance. The sales figures of the Primary market may dip as the focus will be on the secondary market with the distress sale. More incentives will flow out and heavy discounts will be passed on to the end users.
Negatives
With the enforcement of the RERA Act, the business will be much stricter for the developers and it can be a cause of concern for the consumers as well. The consumers will wait for the right time to invest and this can be a cause of concern as the rates may not further go down. The developers have already started working on plans that will cap the budget for the consumers and affect them in the least possible way. The cash transactions will be reduced with such move and this will impact the cash-rich investors who invest for a better profit. This will again reduce the sale of property in many sectors.
Since the government is about to start the Goods and Service Tax in the current year, this may impact the Real Estate Sector. It can be a huge game changer and the sales may drop even further. The A-listers in the real estate sector have completely stopped their cash transactions making it difficult for the consumers to find the rolling options. For people who invest only through cash have become stagnant and cannot invest to move the market. The Benami Transactions Act has also affected the business as most of the transactions which used to happen in the real estate sector have stopped and this has led to reduction of construction at many places. The inflow of supply has been impacted by this move.
However, the government is making these acts and rules for the betterment of the end consumer. It will bring a revolution in all the industries and sectors and make the transactions transparent. This will further reduce the black money and give a helping hand to the government to build a better future for all. All such moves make the country stronger and move on the path of development. So let us support the government with all its reforms and changes to make India a better nation in the world ranking.
200 developers have been asked to provide with the following project details by the Greater Noida Industrial Development Authority (GNIDA) –
Having your own place with your spouse and most importantly your kids is one of the most amazing things in life you can have. You can choose the interiors, decorate it the way you want and paint the colours of your choice. But with kids being in the picture, there are some limitations that enter! No delicately fragile decorative near the child, proper storage or boxes to keep toys so that the kids do not keep tripping on them and no sharp cornered items peeping out from anywhere. These are just some of the very basic things you follow as a responsible parent to ensure the safety of your children.
No matter how much you teach them or scold them, the universal truth is that children are going to be messy. They will wipe their dirty hands from the bed-sheet or clean their face with the beautiful linen curtains. But you neither have to go crazy nor have to shout at your innocent child, after anything of this sort happens. Plenty of fabrics are available in the market, which are stain resistant which you should always choose.
With babies comes more responsibility and of course more STUFF! Toys, more clothes and not to mention diapers, all these things make your home overflow with things! So you have to find furniture that has a lot of storage space and can take away all the unnecessary clutter. The kind of functional furniture that works in more than one way is the best option for a home with kids.
Accessories should be kept out of reach of children. Remove them from the coffee table and shift them to shelves which are higher. This is because kids, out of curiosity, have a tendency to grab attractive things and play with them! Either keep the low-heighted tables empty or keep simple things which won’t attract children. Keep following this unless and until your children are old enough to understand manners.
The idea behind using heavy furniture is that the children should not be able to push the furniture, because if they are able to do so, it will become their favourite game! Choose furniture that is properly grounded.
Spilled milk or soft drink can be cleaned easily but if it spreads all over the rug, it can be annoying. So to avoid this, always buy rugs that are easy to clean or wash. Go for Persian rugs or rugs made of natural fiber. They are easy to clean and can even hide a stain.
Divestiture by large builders or developers is expected to witness a four times rise in India’s commercial real estate comprising the institutional funds in 2017. It is likely to reach $3.5 billion which will set a benchmark for these investments.
We all need money to fulfill our needs on a daily basis. While the regular expenses can be met with the earning we have, it becomes difficult to spend for other requirements. Life has become a struggle in today’s world and it is very difficult to meet ends and survive especially in such an inflated market. It is necessary to get some extra help to meet our needs which are many. So let us understand how to get this extra help to get our lives rolling in full pace.
The Noida Authority officials have taken the decision to monitor and examine two societies – Supertech Emerald Court and Supertech Capetown – to check if there is any kind of disobedience in following the safety norms and also to check the quality. The homebuyers of these two societies had a meeting with representatives of the developers and also the Noida Authority Officials, and the decision was taken after that.
A leading Real Estate Solutions provider, HDFC RED, which is a branch of HDFC, has now started to focus on giving communication and marketing services to the developers in the coming time, as informed by the CEO of the firm.
After two weeks of Allahabad High Court instructing the Greater Noida Industrial Authority to shut the extra residential units which are developed in Supertech Czar Suites of Greater Noida, the allottees who have their flats sealed, have been instructed to reach to the GNIDA to get their flats de-sealed.
Birlasoft, an IT company which is a branch of the reputed CK Birla Group, has rented an office building which is more than 3 lakh square feet in size. This building is situated at the mixed-use project of Assotech Realy (Assotech Business Cresterra) in Noida.
