web stats
Home Authors Posts by Team iPropUnited

Team iPropUnited

Team iPropUnited
655 POSTS 0 COMMENTS

Developers Warned By YEIDA To Stop Illegal Selling Of Flats

nodiaStrict action will be taken against the builders who are involved in illegal selling of flats and taking money from homebuyers, as announced by the Yamuna Expressway Development Authority (YEIDA).

An order has been issued stating that if the builders do not stop selling flats which are a part of unapproved or illegal project, YEIDA will be forced to take some legal actions against such builders. This order being passed is a consequence of many homebuyers being cheated by developers in residential projects.

All the officials of the three authorities – Greater Noida, Noida and Yamuna Expressway- have been strictly instructed by the Chief Minister, Yogi Adityanath, that homebuyers should not be exploited or should not face any kind of duping by the builders.

The notice which the CEO of YEIDA has issued strictly warns the builders to stop the practice of selling flats of whose building maps are not properly approved by the concerned authorities. It is completely illegitimate to sell flats without the building layout map being approved.

The builders and developers have also been instructed by the authority to provide all the details of the flats that have already been sold off.  They have to give information regarding the amount of money they have collected till date from the homebuyers. This is because the Yamuna Authority doesn’t want the homebuyers to keep spending money in projects that have not even received approval from the concerned authorities.

Is It Right To Buy A Heritage Listed House?

    Heritage HouseBuying a property is not a matter of right or wrong. Any property is a fruitful investment. Every property has its pros and cons and so does the heritage properties. Off late, people are seen investing in such properties and making an income out of them by converting them into hotels and restaurants. The reason behind this is the attraction these properties have irrespective of the fact that they are too old. A heritage property is owned by people who believe in the phrase “Old is Gold”. It truly is.

    Now let’s discuss the pros and cons associated with it so that you know it better if the investment in Heritage Listed House is a good investment.

    The advantages of buying a Heritage Property
    •You become the talk of the town with such property being bought. Everyone loves the attention, doesn’t one? With a Heritage Property against your portfolio, you share a dignified position in the society as very few have the guts in such investments.
    •Heritage Properties are transformable. Most of the heritage properties have been transformed into beautiful and luxurious hotels that attract tourists more than any conventional hotel would.
    •The properties are mesmerizing and unique with architectural beauty that is beyond words. Moreover, such gorgeous looking properties are located in a surrounding that is well preserved and secured.
    •As the surrounding around is well protected, if you consider reselling it in due course of time, the value is insanely high. Get bigger returns in future and never be at loss.
    •The maintenance of the property can be easily funded through loans and grants specific to heritage property. As these properties hold historical significance, grants or loans are easily obtained with no hassle.
    •With years passing by, the beauty gets better and richer and a treat to the eyes.
    The disadvantages of buying a Heritage Property
    With so many pros with the decision of buying a Heritage Property, one has to deal with the cons too.
    •As this type of property is old and has been built with specific instructions and materials, renovation can be a challenge. It is quite risky to involve an amateur professional in getting any issue fixed in the property. In short, the developmental activities in Heritage Properties are not too simple.
    •Like the way a person has to spend more in a used car, similarly, the owner of Heritage Property has to be ready to invest at a higher rate when it comes to the maintenance charges. You can’t hire an amateur to doing the task. From architect to mason to plumber, everyone should be experts in their field.
    •The work of renovation apart from being complicated is tedious and time-consuming. Approvals from local councils and heritage bodies are important before the work resumes.
    •If you are thinking that after buying a heritage property, you will demolish it completely and give it a new face, it is irrational as this grant is never permitted. Maintenance of and old property adds to the beauty of a region and restores the traditional architecture. Rare properties are preserved till the end of time.
    •A home should have a home insurance. If you have bought a heritage property for personal use, getting a home insurance might look difficult.

    So with pros and cons studied, one can make a fair decision of either buying or not buying a Heritage Listed Home.

    There can be many emotions attached to a heritage building and getting it demolished for your personal benefit can be playing with the heritage importance of a nation. Many love to live in such property while many would have weird feelings of living in such an old property.

    For commercial purpose, there are more benefits than for personal use. This opinion varies from person to person. For the beauty of the property, many people buy it but unable to maintain it, they resell it. You have to do a thorough study on heritage property that you have selected to buy. Meet the locals, talk to them, and know about the place, the reason for it being sold and any such question that you think is worth asking. When you have known enough, you will be in a better position to take the decision. Heritage Properties make for great properties only if you know how to maintain it.

    Samajwadi Scheme And PM’s Vision To Get Merged

    modiThe Samajwadi Awas Yojana, two years after its launch, is ready to be modified to complement and help the Affordable Housing for the poor by the Prime Minister. Before the decision gets the consent from the state cabinet, the state housing department will look into this decision.

    All the engineers and the vice chairpersons from the 28 development authorities all over the state have been called to give the feedback and the status of all the projects which have been sanctioned under the Samajwadi Awas Yojana.

    Originally, this samajwadi scheme was designed to help middle class families in housing facilities. This was done by making the conversion to residential land from agricultural land trouble-free with state government forgoing the conversion charges.

    Despite the benefits it provided, the scheme was not able to get sufficient response from the developers. It was launched on 1st May, 2015 and only 111 builders have applied since then for the license. Out of these 111 builders, 42 were able to received their DPR (Detailed Project Report) approved by the concerned development authorities and the government.

    The biggest limitation at that time was the demand for residential units. Apart from this, many projects were not able to get executed even at the development authorities’ level.

    Now, the state government is pondering over the idea to modify the scheme to make the execution of PMAHS for poor section of the society. As per the scheme, state government will provide a grant of Rs.1 lakh and the central government will provide a grant of Rs.1.5 lakh. The remaining balance will have to be paid by the person.

     

    Thanks To RERA, Even Local Bodies Will Face Strict Norms

    RERAAs we all are aware, real estate regulation and development (RERA) is going to be implemented from 1st May. RERA will the authority to question all the local bodies in case of any delay or default in sanction. RERA will work upon very strict rules and norms so that the developers are forced to complete the projects in the stated time.

    After these strict rules, various developers brought into highlight the problem of delay in certificates and sanctions given by the local authorities. The state Housing Minister has said that they will look into these issues and will make efforts to address them. Apart from this, they are also working towards making the RERA website ready to use, to be able to experience smooth implementation of the norms and rules.

    Under the RERA rules (section 7), if the developer wants to get extend the registration of the project, he has to provide valid and reasonable explanations on the delay. Therefore, in this case, the developer can explain all the reasons including the reasons involving delay in housing sanctions by local authorities. This provision will help in making the entire process transparent and fast. This is because, earlier the developers would face troubles getting the sanctions and nobody would listen to them.

    There are so many people associated with the leading developers but have not been handed over the possession, even after months of due date. Now, thankfully with the implementation of RERA, people will be aware of the real and genuine reasons for the delay in the residential projects. Also, the developers will be answerable to the authorities of RERA.

    10 Beautiful Plants To Grow Indoors

      topIn metro cities filled with dust and pollution, we are rarely able to breathe fresh air. Plants and trees, which are the best source of fresh air outdoors, are not at all acknowledged by people because of the lack of time. But does that mean you cannot grow plants inside your living space? No, it doesn’t! So for people who don’t have time for proper gardening, we bring you some plants that are extremely easy to grow indoors and require very little space.

      1.Aloe VeraAloe Vera You must have heard your mom taking the name of this plant every time you faced any skin related problem. Well, that explains everything as moms are ALWAYS right! This plant is a little different as it wants to be dry and warm. It doesn’t need high amounts of water so you have to water it only when the soil inside is dry. The perfect place to keep this plant is on a sunny window.

      2.Indian Basilindian basilRemember every time you had a sore throat and mom used to make Tulsi Chai for you? Yes, you guessed it right! Indian Basil is that Tulsi plant. Widely known for its medicinal properties, Indian Basil comes with negligible maintenance. Plant it in a simple pot and have the air around you purified! The perfect place to keep this plant is sunny window.

      3.Areca PalmAreca PalmCommonly known as ‘Golden Cane Palm’, Areca Palm looks very attractive and striking when kept indoors. This leafy plant has a tendency to grow as tall as 30 feet sometimes. But since that is not possible indoors, it has to be planted in a small container which will crowd the roots to restrict the size of the plant. Areca Palm filters toluene and xylene from the air along with adding moisture to it. The important thing to be kept in mind is that this plant has to be kept away from direct sunlight as it results in the leaves turning yellow.

      4.Spider PlantSpider PlantSpider Plant gets its catchy and unusual name because of the shape of its leaves which keep swinging like a spider’s web. This beautiful-to-look-at plant battles against formaldehyde, benzene, xylene and carbon monoxide. If you ever notice that its leaves have turned yellow, then you do not need to worry. This is a common feature of Spider Plant and it gets back to its usual self. You have to use soil that is well drained and is not at all soggy.

      5.Snake Plantsnake Plant 2Spider Plant is commonly known as Mother-in-Law’s tongue and acts as a great air purifier. Formaldehyde is commonly found in personal-care products and Snake Plant helps in filtering it out. It is like that low-maintenance and loyal pet of yours which requires no over-the-top attention. Even if you ignore it for a few days or forget to water it on time, it will still remain loyal to you and give fresh long leaves! They need free-draining soil as the only risk involved with them is their easily-rotting nature.

      6.English IvyEnglish IvyThis green plant is great in reducing the fecal-matter particles from the air. English Ivy requires a lot of light to look green and fresh. If it is not able to get the amount of sunlight it needs, it becomes the best friend of the pests! When watering, special care has to be taken and the soil has to dry before watering again.

      7.DracaenaDracaenaThis plant is also a very tall-growing and can grow up to 12 feet. Therefore it has to be kept in a place where it gets ample amount of space to grow. Pruning is also an easy to handle its height as the new leaves will grow below the cut in a few weeks’ time. It doesn’t require direct sunlight. It needs soil that is moist but not at all soggy. If you ever notice yellow leaves appearing in Dracaena, it is an indication to stop over-watering or making the drainage proper. The best place to keep it is near a sheer curtain.

      8.AzaleaAzaleaAzalea flowers are beautiful in a picture-perfect kind of way. They also help in reducing formaldehyde from the air and are available in many colours. Spring season is their best friend as in that period of the year, they produce flowers which last for several weeks. They can be kept in places which do receive sufficient amount of light as they are highly resistant to shade. You can even help the plant retain its shape by trimming it whenever required. Keep it in your bedroom and notice yourself getting happy every time you look at it!

      9.Weeping FigWeeping FigWeeping Fig is a little slow to grow when young, but once it reaches its complete form there’s no stopping it. It can grow up to 10 feet! This extremely leafy plant fights against emanations from furniture and carpets. But what has to be kept in mind is to not move the plant around inside the house too much as it sheds its leaves if done so. Place it in a bright spot which receives indirect sunlight and don’t move it from there. It also has to be kept away from places which receive direct hot or cold air as this also causes shedding of leaves, for example, in front of windows or on the doorways.

      10.Ladies’ Slipper OrchidLadies’ Slipper OrchidDue to its colour and vibrancy, this plant removes dullness from your home. As the name suggests, Ladies’ Slipper Orchids have slipper shaped flowers. The exotic looking dark green leaves are like an icing on the cake. While watering this plant, special care should be taken.

      If you are using water that has been chemically treated, then this water has to be kept in a container before using it for watering. It needs watering just once a week. It has to be kept away from direct sunlight.

      Where To Invest For Profitable Portfolio? Stocks Or Real Estate?

        stock market or real estateYour portfolio depends on your choices and preferences. Some may reap benefits from Real Estate while some gain from stocks. The question whether Real Estate is a better investment of Stocks is subject to personal choice. The only difference is the tangibility. Real Estate can be touched and seen while Stocks are intangible. It is a human tendency to like something that can be felt and seen every day. Stocks are no less important.

        How can one be benefitted by investing in Stocks?

        • Investing in stocks has always proven to be fruitful in business. When you buy a stock, you are buying a part of the business, no matter how small or big the business is. You have the inner satisfaction that you are a part of the business. These stocks, in the long run, give more returns that one can imagine.
        •With a greater quality of stocks, one is investing in, the returns will be proportionate. Bigger the company, bigger the returns will be. Apart from the return that is sure to come one’s way, cash dividend is also something that one can gain. So it is equivalent to hitting two birds with one stone.
        •What can be a better way of earning a profit without having to do anything for the company? Yes, stock investment is such. You don’t have to stress for the running of the company although you own a part of it; yet, you receive a share of the profit earned.
        •Investment in stocks requires lesser capital than investing in Real Estate. With stocks as low as Rs 6000 a month, you can reap good profit; however, with Real Estate, you need more money to buy. Comparatively, in stocks, you pay less but get more and in Real Estate you invest more to get equal or more amounts in future.
        •Stocks can be sold instantly and several times in a minute without the wait time. Real Estate, to be sold needs to be waited for long. What saves time? You got the answer.
        •Borrowing is possible against Real Estate as well as stocks. However, when you borrow against stocks, it is fairly easier compared to borrowing against Real Estate.
        Of course, with so many benefits of stocks, you do have to encounter few cons too. It is true with everything on the planet.

        How can one be benefitted by investing in Real Estate?
        Investing in Real Estate is noticeable by people around and therefore, more people like to do this over any other investment for showing off to over other benefits.

        •Every person grows up hearing about the importance of owning a property be it a residential property or commercial. As a result, more and more people tend to bend towards Real Estate investment over others.
        •Psychologically speaking, Real Estate is something that you can boast of to your friends and colleagues. People can see it and as they say “seeing is believing”.
        •With Real Estate investment, you know what is happening as you can be physically present and check on it. With Stocks, you have no say. You need to trust the management and higher authority running the show. You are a silent spectator.
        •The resale value of a real estate has always been on the rise. With majority investing in Real Estate, the competition is quite perfect with no scope of monopoly. With better location and facilities around the property, one can get a higher price when the need arises to sell it.
        •It is the most traditional way of investing and therefore, the safest too.

        Like Stocks investment, Real Estate too, has its cons and we can’t separate that from any of the investments. Without risk, there can be no gain and that’s true for everyone. People investing in Real Estate are investing in Stocks too and vice-versa. It absolutely depends on the interest and motive. Your personal motive does play a vital role in deciding where to invest for a better portfolio. Understanding your needs, risks, and level of profits that one can easily earn from either stocks or real estate, one needs to take the final call.

        Any investment is a good investment as long as you know what’s happening on the other side. So, before investing blindly only because some people have recommended, you might be in the thick soup. Your priorities and the priorities of your friend might be different. Make a checklist and see what your plans are for the next few years. It doesn’t matter whether you invested in stocks or real estate if the profit is good and can benefit you in your tough time; you took a wise decision for sure.

        Is The Act Of Appointing Nominees Binding The Cooperative Housing Societies?

         Act Of Appointing Nominees Binding The Cooperative Housing SocietiesAll the people who are involved in or are members of any Cooperative Housing Society and have house in the same, have to appoint a nominee who receives the transfer in his favor of the stated share, on the death of the member. But the fact remains that these nominees have to face troubles to get the transfer accomplished in their favour after the demise of the member from the cooperative housing society.

        In the recent case of Indrani Wahi vs. Registrar of cooperative societies, were contemplating between the questions these two questions –

        1. Whether this transfer of share after the death of the member to his nominee is obligating the cooperative housing society.
        2. Or whether the rights owned by the nominee have any applicability to the rights owned by the heir on account of law of inheritance of succession, concerning the allotment of the flat to the deceased member by the cooperative housing society.

        According to the case, the person who owned the flat in the cooperative housing society had nominated his daughter to get the transfer of share or interest after his demise. But after the demise of her father, the Deputy Registrar of Co-operative Societies refused to transfer the share to the daughter as her brother wrote a letter to the Deputy Registrar stating the actual nominee appointed by his father was his mother and not her sister, according to the applicable Act and Rules.

        The Supreme Court said that in case a member nominates somebody in accordance with the Act and Rules, then the court is entitled to transfer the share in the name of the nominee after the demise of the member.

        After this, it was also said that in such a case, the rights owned by other family members on account of the law succession or inheritance, are submissive rights. The exception will be when the person does not enjoy the nomination rights as per the relevant Act and Rules; the current share of the member would get delegated on account of inheritance or succession.
        As a result, in this case the apex court had instructed the cooperative society to transfer the share of their former member to his daughter as per the nomination appointed by him.

        Conclusively, the observation recorded was that the transfer of share as per the nomination and in accordance to the Act and Rules is obligating such cooperative housing societies. On the other hand, this obligation is only against the society and would hold no applicability on the matter of issuing of the title between the successors or inheritors after the death of the member.

        NCR Board Rejects The Plan Of Aravali Construction By Haryana

        haryana project Haryana had encouraged the construction in Aravalis which has been prevented by the NCR planning board (NCRPB) as it is not fulfilled the demand of the state government. It has stated that the reasoning by the state government is not feasible as the restrictions are being followed since 2000.

        A meeting was conducted by the urban development keeping in mind Haryana’s demand, between representatives from Haryana government, environment and forest ministry and NCRPB participated. Haryana has also been asked by the NCRPB to present viable and relevant reasoning for this case.

        A proposal to make a change in the provision in the Regional Plan of NCR 2021 which allows the use of only 0.5% land falling in the Aravalis had been sent by the Haryana Government.
        The government of Manohar Lal government had opposed this saying that NCRPB had given the approval for Aravali notification of 1992 saying that the entire range will be covered under it and therefore putting restrictions on the provision was not necessary. It also stated that the notification clearly mentions the activities which are allowed after the approval from ministry of forests and environment, and that is the reason there is no need to put one more restriction.

        Till date, Gurgaon (Haryana) and Alwar (Rajasthan) are the areas covered under this notification.

        According to the Regional Plan-2021, in areas of Natural Conservation Zones (including Aravalis), activities like horticulture, agriculture and recreational activities are allowed.

        A Glimpse Into Alia Bhatt’s Beautiful New House!

        topIn a country where Bollywood celebrities are immensely looked up to, celebrity homes are also not left behind. This is because their impeccable ideas for designing them give us some serious #HouseGoals!

        Latest in the trend is from the bollywood’s younger lot, our very own Alia Bhatt! Please don’t go by her age and her bubbly persona because Alia Bhatt’s new house is not something we would imagine out of only a 24 year old! The taste and ideas with which her 3BHK pad is done is totally flawless and very admirable for someone her age. As Alia says, her house has ‘a vibe of a new york loft’ which in itself explains how ultimately cool the place would be!

        Don’t worry we have brought for you the most ravishing pictures of not Alia, but her lovely new house which will make you love her more than you already do!

        Let’s have a look –

        The beautiful living room! living roomusually, the main entrances of the houses open up in the living room. And if the living room is utterly attractive, it leaves an everlasting effect, because remember, “first impression is the last impression”. And Alia Bhatt apparently believes in the same which is evident from her living room! The totally life-of-any-party image which she has on-screen contradicts with the way her living room is done. The white sofas bring so much calm to the place, the cushioned chai adds a twist whereas the chandelier adds up to the vintage feel! The overall minimalistic look is just alluring!

        The kitchenkitchenFor all the people who don’t know how to cook, it’s when you come across a kitchen so beautiful that you wish you had learnt cooking! Just like the living room, the whole look here is also very calming and soothing to the eyes. The modular kitchen cabinets are just the correct colour, which complement the other accessories. The custom-made wooden racks are adding the old school feel, while the black and white tiles are the catchiest ones I have seen in a while!

        Dining roomDining roomNo matter how many countries these celebrities travel, their heart lies in their very own country. Alia Bhatt made it clear with her dining room, which gives such homely feels! First of all, it has a lot of wood, which makes it so warm and inviting. Apart from that, the whole non-jazzy approach to design this place is what will win everybody’s heart!

        Dressing room 11No wonder Alia looks extremely class ALL THE TIME! Because this classy and tasteful dressing room just graces her beauty and fashion statements. The custom made dress rack looks very innovative and the amount of natural light entering the windows gives a fresh feel to this area!

        Tea barDressing roomI know what most of you must be thinking! What IS Tea-bar? It is nothing but a bar dedicated to tea, given Alia’s immense love for them! Although, it is hard to imagine somebody sitting on a bar stool and just innocently sipping tea?
        *not gets convinced* So you never know, other drinks might just slip in too! Expect only Alia to come up with such crazy ideas!

        Washroomwash roomThank god I don’t have such a glamorous washroom otherwise it would have been a very difficult task to get me out of there! No exaggeration there! The colourful tiles fitted in an intelligently random way are the first to catch the attention, followed by the bathtub and candles kept above it. The amazing thing is that it is not very huge in size giving it a very cozy look!

        The entire house is done in a maturely endearing way which we just can’t stop praising! Well done, Alia Bhatt!

        Did You Know? You Can Bring Down EMI By Switching Your Base Rate Home Loan To MCLR

        couples looking at homeHome loans are the most common type of loans taken these days. Every second individual either has a home loan or a car loan or for that matter any other loan. Our lives have started revolving around the EMIs that are deducted every month from the bank accounts. A person is considered lucky and blessed if they do not carry any kind of loans on their names. So how do you get rid of these EMIs before the mentioned end date or maybe reduce the amount and thus the burden from your shoulders? Let us look at this aspect in detail since all of us are keen to do so.

        How do banks decide the Interest Rate?
        This is a very interesting topic for every person who has a loan or is planning to take one. Every bank has a different interest rate which they charge to the customers. This is different as it is linked to the profits and losses that the banks earn. Earlier home loans were based on the model of PLR which means Prime Lending Rate. In this model, banks could charge the customer a lower interest rate than that fixed by the bank which was not transparent enough. Therefore, this model was scrapped and a base rate was fixed. In this model banks could not provide a rate lesser than that of the base rate. But with this model also followed a flaw where the banks never passed the benefits of a base rate reduction to all the customers which made no point in reducing the rates by Reserve Bank of India. Therefore, a new model was created called as the Marginal Cost of Lending Rate (MCLR). This model suggests that when there is a change in the MCLR it would directly change the EMI of the loan and would benefit or increase the repayment amount.

        Switch Base Rate
        The base rate is the least that a bank can offer to a borrower for their home loan. This means that if the EMI is at an X amount it cannot be reduced at any given point of time. But if you switch your base rate to MCLR then you would be move, to a new and better interest rate which would reduce the EMI amount. There is a fee that banks charge to the borrower for switching from the base rate to MCLR. This is directly proportional to your principal amount which is outstanding with the bank. It is an X percent of the amount that you need to pay to the bank and get your home loan converted into an MCLR. This will benefit you further if the MCLR reduces in the long run. But it also has a negative effect in case if the MCLR increases. As this will increase your Interest rate and thereby your EMI as well. It is a gamble buy at the current market scenario you are saving some amount from your EMI which is the need of the hour for every borrower.

        Banks role
        Banks have a major role in saving your EMI or reducing it to a lower amount. However, banks do not take an active part in doing so. As a customer, you should be aware of every change in the economy that the RBI does and act accordingly to reduce your EMI on home loans. You can switch from a base rate to an MCLR by visiting the bank and making the necessary changes. RBI regularly pushes the banks to follow the MCLR model. This is because the MCLR is dependent on the marginal cost of funds and cash reserve ratio and operating cost which are periodically changed for the betterment of the economy.

        Since the new rule of MCLR being effective from 1st April 2016, the new loans are issued under the MCLR. However, the old loans will need to be shifted to the MCLR from the base rate. This can be done by paying a charge of 0.50% plus service tax on the outstanding amount which will be lesser than the rate that the borrower is currently paying. So, go ahead and get your EMI reduced by switching from the base rate home loan to MCLR.

        Latest News