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Team iPropUnited

Team iPropUnited
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Changes In Policy To Bring More NRI Investors To Indian Realty In 2017

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Team iPropUnited
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NRI Real Estate Investment

Non-resident Indians have always been quite attracted toward the Indian property market. But, the non-transparency in business and lack of information stand to be the only concern. The year 2016 brought several key policy changes like Benami Transaction Act, demonetization, GST and Real Estate Act. Well, the Indian real estate sector is observing a gradual transformation. The managing partner with Mandarus Partners LLP, Naushad Panjwani has acknowledged that there is a strong presence of trust deficit in Indian real estate sector. This deficit takes place on account of the absence of an effective regulator like in other sectors (SEBI, TRAI, IRDAI, etc.), the nexus between builders, bureaucrats and politicians, and the scarcity of funds for the projects.
Greater Transparency Invites More NRI Investors:

Well, some changes in policy will bring greater transparency for NRI investors. Also, it will tend to curb unaccounted cash transactions. PNC Menon, the chairman-emeritus of Sobha Ltd. has agreed that NRI investors will find the investment opportunities interesting if factors like – tighter regulations, more affordability, greater transparency and enhanced price stability can be incorporated in real estate sector. According to Kaizad Hateria, the brand custodian and chief customer delight officer, Rustomjee Group, maintaining proper transparency will remove the trust deficit as well. Moreover, it encourages the NRIs to have more confidence about investing in Indian realty market.
Why 2017 is going to be the Best Year for NRI Investors?

As stated by Hiral Sheth, the director marketing with Sheth Creators, Indian realty market, being the second largest sector in India, has simplified the process of purchasing property. However, NRI investors can expect something very positive this year in case of investing in Indian realty market.
• This year, real estate sector in India is introduced as a major driver. Therefore, India is expecting to be amongst the fastest growing economies.
• Several rules and regulations have been amended in order to simplify the purchasing process.
• The major attractions for NRIs like – ready-to-move options and the availability of affordable properties in Indian property market will encourage the NRIs to invest more.
• Some policies such as – Benami Act, RERA, REIT and demonetization, and GST, are expected to boost the transparency.
• The participation of NRIs is likely to enhance for the effective implementation of Lenient FEMA policies and relaxation of laws by RBI, in case of property buying.

Top 10 Ready To Move 2BHK Flats In Indirapuram Between 60-70Lakh

By
Team iPropUnited
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Ashiana Greens
Developing year by year, the area in Ghaziabad has bestowed luxurious lifestyle by means of magnificent 2BHK apartments erected by renowned builder and developers. Flats with 2Bedroom, Hall, and Kitchen at affordable price can be considered as Indirapuram encompasses almost everything a person may need for perfect dwelling.

Agarwal Aditya Mega City
Agarwal Aditya Mega CityWith 18 towers comprising 1200 residential units, this project by Agarwal Associates Group is skilfully designed and offers spacious 2BHK housing options. These ready to move apartments in Indirapuram covers almost all civic amenities like school, hospital, mall and bank within proximity of 4 kms. Well equipped with basic amenities, the project has many socializing, fitness, security and eco-friendly amenities.

Saya Zenith
Saya ZenithSaya Buildcon Consortium Pvt. Ltd., under the dynamic supervision of Mr. Vikas Bhasin, is renowned for providing many families happy residing option in their splendid homes. With the aim to truly elevate your lifestyle to another level, 2BHK flats in Indirapurm are ready to move in. The project not just has a unique Club House but it boast other facilities like Swimming Pool, Park, Security and Reserved Parking as well.

Top 10 Ready To Move 2BHK Flats In Indirapuram Between 50 to 60Lakh

By
Team iPropUnited
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Niho Scottish Garden Indirapuram
Representative Image

Giving great location advantage with easy connectivity to most promising NCR Noida and the capital city Delhi, Indirapuram is giving rise to various residential projects today. Being one of the most sought-after location for the homebuyers, 3Bedroom apartments are getting occupied at fast pace. The affordable pricing compared to Delhi and world-class amenities offered by the projects here makes housing options more lucrative. Below are the top 2BHK projects in Indirapuram within a range of 50-60 lakhs:

Jaipuria Sunrise Greens
Jaipuria Sunrise GreenCompleted in December 2008, these ready to move apartments have laminated wooden flooring in all bedrooms. Vitrified tiles are used for drawing/dining area and Ceramic tiles are used in balcony, kitchen and toilets. This vaastu compliant project has many socializing, sports & fitness and security amenities besides basic amenities.

Shipra Shristi
Shipra SrishtiA project by Prateek Laurel under dynamic leadership of Mr. Mohit Singh (MD), is a milestone that offers a great combination of location and luxury. With the aim of bringing its residents closer to nature, the apartments here are constructed amidst green environment. With 8 towers comprising 690 residential units, the project offers various premium amenities like Barbeque Pit, Bar/Lounge, Dance Studio, Club House and many more.

What Home Buyers May Wish In 2017

    By
    Team iPropUnited
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    Home Buyers wish for homePeople have unique tastes, desires and sense of style when it comes to buying a home. But, according to real-estate industry observers – the most and least desired features seemed to be the same for the homebuyers. It would be the best if buyers have access to communicate with the builders throughout the project’s lifecycle. Most of the homebuyers wish to bee free from the issues like – hidden charges, fiscal mismanagement of the builders and moreover problems related to builders-buyers agreement leads to lack of trust. Also, the homebuyers wish the removal of transfer charges that sometime appears to be too high for them. Often, the top management involves in the execution of the project and communicates with the buyers.

    The Top Seven Features in Homebuyer’s Wish List:
    A major part of the homebuyers in India believe that if trust deficit between the buyers and the builders can be sorted out, then the whole matter can bridge to a considerable extent. In that case, the developers have to come forward for a dialogue to understand the homebuyers’ point of view. However, people feel that good communication with the developers can unfold all the troubles. Thereafter, the problems like policy paralysis, delaying in project completion and other major issues can get resolved. One may buy a home to live or use it as an investment. But, it is important to ensure that the buyer is getting their part of financial satisfaction. A round-up list of features that every homebuyer wishes to have while purchasing a home is noted:

    • While buying a home, it is important that the individuals are not feeling financially overstretched.
    • A fair agreement with indemnities is highly appreciated from the buyers’ end, in case of delay in the project completion and/or poor workmanship etc.
    • Buyers want easy maintenance where they don’t have to pay attention to any hidden problems.
    • There must be equal penalty for delay in project completion.
    • Additionally, the buyers give value to the project that doesn’t install any hidden or escalation charges.
    • People expect to have the right to a full refund within 30 days of booking.
    • Also, the buyers want the right to see all approvals in place and a title assurance as well.

    Building a home is like preparing nest for your future eggs. Hence, make sure the buyer is comfortable with the maintenance and staging costs. Also, a buy-back offer from the builders would satisfy needs of the homebuyers in India!

    HDFC Home Loan Rate Lowered By 0.45%, Following SBI Rate Cut

    By
    Team iPropUnited
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    HDFC

    In sequence to the Home loan rates slashed by State Bank of India on January 1, 2017 by 0.9%, the next in the league is HDFC Bank. On January 3rd, 2017 HDFC Bank announced a cut in the interest rate by 0.45% for loans up to Rs. 75 lakh. leading to cheaper corporate and home loans spurting good news for its borrowers.

    While the interest rate shall be same as 8.75% for the loan amount exceeding Rs. 75 Lakh, the borrowers of amount less than Rs. 75 lakh will have a relief by 0.05% as they have to pay an interest of 8.7% per annum against 8.75%.  The women applicant will also get a discount of 0.05% in interest rate.

    Reduction in interest rates is an implication of fall in MCLR (marginal cost of funds based lending rates) by 0.9% overnight. These rates shall now be 8.1%, effective from 1st of January. For year 2016, MCLR was reduced to 8.5% with a marginal fall by 0.75% over the year. After huge inflow of funds arising out as an impact of demonetization, the lending rates were anticipated to observe a steep fall by 1.48%. Not just Housing, the reduction in lending rates also expected to be followed by corporate and auto loans.

    With the drop in MCLR over the couple of years HDFC ensured to pass on its benefits to its customers’ explained by Renu Sud Karnad, MD, HDFC Bank. Based on MCLR, other banks which have reduced their interest rates include Bank of India, Punjab & Sind Bank and Corporation Bank. While the Corporation Bank lowered the MCLR rate by 0.7%, Punjab and Sind Bank brought it down by 0.8%. Corporation Bank also observes a fall in 1 year MCLR rate by 0.7%.

    Even fixed deposit rates are expected to observe a steep cut in their lending rates in coming days. During June’2016, Banks have switched to MCLR as their benchmark lending rate. This switch replaced the base rate system for new borrowers ensuring a fair interest rate to banks as well as borrowers. Interest rates are now calculated on the marginal cost of borrowing and return on net worth for banks.

    However, due to fall in lending rates the credit off-take may observe a rise leading a burden on the balance sheets of the banks. As MCLR rates are revised every month, it also seeks to address the regulator’s objective of expediting monetary policy transmission together with transparency in lending rates calculations.

    DLF Major Loss Towards 11Acre Of Prime Land

    By
    Team iPropUnited
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    DLF CrestThe top realty developer has recently faced a setback when the High Court of Punjab and Haryana ordered to hand over 11 acres of land to the Park Place Residence. Considering the violation of floor area ratio (FAR) and intruding on the land belonged to Park Place, the High court has issued a 158-page judgement in this case.

    A legal case by the Resident Welfare Association of DLF Park Place was filed suing DLF for developing another luxury property – ‘The Crest’.  A bench comprising Justice Tejinder Singh and Chief Justice SJ Vazifdar made this judgment on December 2, 2016. These 11-acres are valued at around Rs. 600-700 Crore which DLF is supposed to return. The residents of Park Place shall get benefited by 65% of more land as revealed by Mr. Harsh Sehgal, President of DLF Park Place Resident Welfare Association.

    DLF Park Place has 988 residential units with 2.2 million sq. ft. saleable area. 10 towers with 19-20 floors each are spread across an area of 30 acres of land. The project was launched in 2006 with apartments ranging from 1875 sq. ft. to 2550 sq. ft.

    The promotional brochures and documents by DLF also claimed that the project is spread across an area of 30 acres. However, the deed declaration submitted in 2012, the developer mentioned the area as 19.33 acres of land. Subsequently, the project was launched in 2013. In the later part of 2013, the project ‘The Crest’ was also launched by the DLF developers.

    The RWA DLF Park Place filed a petition in 2013 against the launch of ‘The Crest’. According to them ‘The Crest’ was launched in the area allocated to Park Place. In response to their petition, Punjab and Haryana High Court refrained DLF for the marketing of ‘The Crest’.

    DLF then approached the Supreme Court and got the stay vacated over the marketing of ‘The Crest’.  After several attempts at apex court by RWA, the Supreme Court bench presided by Chief Justice T S Thakur returned the case to High Court in August 2015. DLF explained earlier that the Crest project has been launched in a separate land.

    Another blow faced by DLF, when Supreme Court restrained it from creating a third party right on land where ‘Mall of India’ has been constructed in Noida Sector – 18.  An appeal was filed by several land owners stating the illegal acquisition of land that has been executed by DLF under Land Acquisition Act.

    Demonetisation May Not Cause Drop-Down In Property Price. Know Why –

      By
      Team iPropUnited
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      Demonetisation and real estate

      With huge expectations from demonetisation loosening the surging prices in property segment, here is a new theory which actually turned the anticipations upside down. As the recent impacts of demonetisation on properties’ price, it was anticipated that there would be a fall in the demand of property while the supply will remain constant. Considering the demand-supply theory, as the gap shall get widen keeping supply on higher side, the prices of the property was expected to fall.

      Unfortunately, the Cost theory was not taken into consideration by then and with recent demonetization the cost of property is expected to increase. It is an outcome of increased taxes and development cost pertaining to constructions and permit. And when the cost rises, it definitely affects the prices, leading its upward movement.

      Factors that constitute the cost of a property and their relevant impact on the property are as follows:
      1. Cost of Land: Prior to demonetisation, the land-owners tend to escape the tax liabilities with the cover of unaccounted cash transactions. However demonetisation has brought a transparency involving money-transactions thus, leading to increase in tax payments for land owners. As a result, the cost of land gets inflated and the entire burden is transferred to the end user, Now the landowner will definitely seek more prices for the property than before covering the inflated cost of property.

      • This impact shall largely be observed in case of plotted developments where land constitutes a major part of the cost of development. However in case of apartments, as there are large number of units hence the inflated cost of land is segregated among these units thus generating a minimal impact of increased cost.

      • With the enforcement of laws curbing ‘Benami transactions’, the buyer shall be liable to pay taxes with every real estate transaction thus ultimately adding to the cost of land. Earlier such tax liabilities were evaded, now the possibilities have been narrowed down with a view of bringing more clarity for the ownership of properties through ‘Benami Transaction Act-2016’.

      • With the digitalization, a correction shall be observed while registration of the property transactions in context to its circle rates. Initially, the properties were registered at the much lower prices compared to the actual deal price thus attracting lower taxes and the major payment was executed in cash thus remained unaccounted. But now as the cash inflows have been majorly restricted and the cheque payment and online transactions have turned out to be the major source of payments, thus buyers need pay taxes either prevailing circle rates or actual deal price ultimately paying off higher taxes and thus inflating the cost of property.

      2. Construction Cost: Construction cost includes the payment to material providers, sub-contractors and labourers. The mode of payment to all of these is via cash while with demonetisation, the flow of the cash in economy has been regulated while the payments. Thus the construction norms have been largely impacted resulting into adjustments in construction practices. So ultimately, it will result in inflating the construction cost depending upon the extent of adjustments.

      As all the payments shall be regulated through banks, the price of raw material shall go up, wiping off unaccounted cash payments and ultimately attracting more direct and indirect taxes. With the implementation of proposed Goods and Services Tax (GST), on the other side, the burden of tax shall get reduced lowering the costing component by removing tax barriers even between the states.

      Nevertheless, it is worth noticing that these impacts shall not occur uniformly and immediately as well. According to the recent survey, Delhi-NCR estate will also be affected in the wake of demonetisation. The major factor contributing to it is the presence of while-collared salaried employees who actually carry out their property transactions via cheques and bank loans.

      The geographical characteristics of property also have the huge impact on its cost inflation. Metros like Delhi and Mumbai, where the property prices are soaring high and most of the transactions are being carried out via cash thus remained unaccounted due to the higher difference between ‘actual’ prices and circle rates of the property, would largely get impacted in term of ‘property cost inflation.’

      Shades of Colours – Know How to Choose Colours For Your Home

      By
      Team iPropUnited
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      Colours for homeThe colours in our room have a direct impact on us as it reflects our personality. We might not put a lot of thought while selecting the colours of our home and different rooms, but it can affect our moods and emotions. Colours can enhance energy level, offer a healing effect, increase metabolism and even raise blood pressure – so, it is important to choose colours effectively.

      In order to have a beautiful home – one must reflect on personalities and preferences. So, if you have found yourself staring up at a wall with dozens of colour samples and still feel clueless about the right shade, then read on:

      Room Colours and Effects:
      Colours act in neutral, passive and active ways. A person’s desires can be easily matched with their room colour. Dark colours are warm and elegant – giving the room an intimate appearance, whereas, light colours are airy and amiable – making the room seem bright and large.

      Purple – the colour of royalty and drama:

      purple-and-lilla-living-room

      The colour is associated with luxury and creativity and offers depth to the room. It can be used in the living room as it symbolizes sophistication and wealth.

      Blue – the colour of calm and comfort:

      modern-bathroom-blue-interior

      Painting the bathrooms and bedrooms with shades of blue can offer a relaxing effect. It helps to make the room look bigger than it actually is.

      Red – the colour of love and passion:

      Bedroom in Red

      This intense colour can stir excitement and boost energy. It can be used in bedroom to stimulate conversation and create a strong impression.

      Pink – the colour of care and emotions:

      dining-room-pink-interior

      One of the most sought-after colours that brings out the sensitive side. It can be used in bedroom and even in the dining room to channel the idea of joy while making the room look lively.

      Green – the colour of nature and abundance:

      Green Room

      Green has a soothing effect on the eyes and offers a therapeutic effect. It is suitable for almost any room of the home. It promotes togetherness and fertility.

      Yellow – the colour of sunshine and warmth:

      Yellow interior

      The bright colour can be used in living rooms, dining halls. It energizes mood and make people feel welcome.

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      Top 10 Ready To Move 3 BHK Flats In Gurgaon Between 50 to 75 Lakh

      By
      Team iPropUnited
      -

      Sare Crecent ParC

      Over the years, Gurgaon has witnessed huge demand for residential projects, 3-Bedroom apartments at various localities.  Surely, it is because the NCR has become a centre of commercial activities and approached by many multinational companies for their operations. And thus, it gives an upward pushed in demand for residential units and encouraged developers to launch some of the best projects with superlative amenities. Below are the top 10 ready to move 3 BHK flats in Gurgaon between 50 Lakh to 75 Lakh-

      Mapsko Paradise Sector 83

      Mapsko Paradise Gurgaon
      Representative Image

      This meticulously crafted project with cultivated green expense around, let its residents live aesthetically that too with affordable prices. Considered as one of the most rapid growing localities in Gurgaon, Sector – 83 has become a prime hot-spot for emerging projects. And this residential project also enjoys the strategic location advantage besides many socializing, security and fitness amenities.

      Sare Crecent ParC Sector 92
      Sare Crecent ParCWith 22 floors, the total project is spread across an area of 65 acres. Walls of each residential unit here are decorated with Oil distemper of pleasing shades. With adequate power back up facility, the project has one of the largest clubs stretched to an area of 35000 sq ft; giving its residents best of recreational amenities. This enticing property has also been awarded by ASSOCHAM as  “Property of the year”.

      Demonetization Impact On Gurgaon Real Estate, Prices May Not Go Down

        By
        Team iPropUnited
        -

        Demonetization Impact

        Amidst many pricing theories for real estate in India, Demonetization cannot be referred as the only factor leading to the movement of property prices in Gurgaon (now Gurugram). As the year 2016 cannot be referred as one of the best years for property segment in terms of demand, Gurgaon has also witnessed a substantial fall in the supply of housing projects as well.

        While the prices for real estate in India remained stable, the developers offered lucrative discounts while negotiations to allure prospective buyers during 2016. But post-demonetization, as buyers today are well-informed so with anticipation of fall in pricing by 20% – 25% holding back their buying. These anticipations are supported with lowering home loan rates and decline in the demand for real estate segment in India. On the other hand, sellers are resistant in dropping prices with the view of expected increase in the cost of land due to enhanced taxes and restricted cash-inflows bringing more transparency.

        Hence, stagnation in demand is observed accompanied by the muted supply over a period of time. Not just the demonetization, Real Estate (Regulation & Development) Act (RERA) is another factor that is refraining developers to hold back their new launches.  Expected to get implemented in Haryana by April 30, 2017, the developers are keen to keep an eye on the new law enforcement and would subsequently launch their real estate projects inn Gurgaon turning them RERA compliant.

        However the recent survey suggests that the prices for luxury homes in Gurgaon have been slashed drastically by 25-30% due to their huge involvement of cash transactions. As an aftermath of the demonetization, market value of residential properties in India is expected to get wiped-out by Rs.808,874 Crores constituting a share for Gurgaon real estate (now Gurugram) which has witnessed a fall in market valuation by Rs.79,059 Crores. The major factor leading to such a drastic fall in market valuation is steep fall in the volume of resales in secondary market where buyers are reluctant to pay all-cheque.

        With the drop in the home sales by 30%, the majorly affected areas in Gurugram are Golf Course Extension, Dwarka Expressway, Gold Course Road and New Gurgaon (Sector : 74-92) which have witnessed a whooping slash-down by 90%. With almost no project launches from Primary markets since demonetization, the supply of the new apartments has also been dropped down to 70% by September against the three quarters of 2015.
        This economic disruption has definitely propagated a wait-and-watch policy for buyers while developers are optimistic about the market revival in the New Year.

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