HYDERABAD REAL ESTATE NEWS

NEWS AUGUST

2011-09-03T03:11:00.000-07:00

Hyderabad realty gets boost from outstation buyers

It’s the migrant population of Hyderabad that is now queuing up to buy dream homes in the city. Unperturbed by the T’ s entiment which is keeping locals away from the property market, outsiders are cashing in on the revised realty rates on offer. Rough market estimates suggest that at least 70% of clientele comprise those from outside the state.

In the last one year, Aparna Constructions sold 350 units in its `Aparna Sarovar’ project in Nalagandla, of which 273 were bought by non-Hyderabadi customers. Even its second project `Cyber Commune’, in the same area, saw as many as 185 non-locals buying apartments as against a meager 65 from the state. Ditto PBEL’s venture, PBEL City’, near the Andhra Pradesh Police Academy junction. Of the 305 homes that found buyers in this project, 280 were from states such as Maharashtra and Delhi with jobs in the city. Even Trident sealed deals with at least 55 non-local buyers for its Kompally-based Trident Grande’ venture that has so far found a total of 70 customers. Further, the sales figures of Ashoka builders too suggest that close to 40% of their properties are owned by denizens from outside the state.

“Instead of paying steep rents, it is better to invest in property now,” said IT professional Swapnil Bajaj who recently booked an apartment in PBEL City that is currently on sale for Rs 2,850 per square feet (sft). He added, “Being from Chandrapur (Maharashtra), my choice was between Nagpur (closest city to his home town) and Hyderabad. While the prices in Nagpur are similar or in some cases even higher than here, the city, however, is not as well developed as Hyderabad. It neither has leading IT offices nor high quality infrastructure.” According to Bajaj, several `outsiders’ like him, from the city’s service sector, are now turning to the local property market, the T’ trouble notwithstanding. And besides the cheap deals, it’s also the affordable cost of living that is drawing them here. “The city, especially the IT hub, has great prospects. The political unrest is just a passing phase and will not deter growth anyway. It’s a safe haven for property investment,” said a Kolkata-based customer of Trident Grande’.

And while a good chunk of this non-local customer-base consists of high-heeled techies working around the Madhapur-Gachibowli stretch, there are also those from the defence and bio-tech industries who are now considering real estate as an investment option. Not surprising then, industry majors are hopeful of a good show over the next few quarters even if a conclusive decision on separate statehood is not reached. In fact, some of them even claim that permanent residents of neighbouring states too are now eyeing the Hyderabad market. “While it is premature to say that it is a trend, I have received a few enquiries from people, especially from Maharashtra, who wish to invest in property here. The only reason being the affordable pricing,” said Nitin Bichala, managing director of Brook Realtors.

Andhra plans new land acquisition policy for industries

The Andhra Pradesh government is planning to come out with a new land acquisition policy for industries soon. “We want to make better partnership with industry. The new policy will make land allotment as transparent as possible to avoid any future problems,” said chief minister N Kiran Kumar Reddy.

According to him, industry investments worth . 300,000 crore is in the pipelines for the next two years. “We have already cleared 26 industry proposals worth . 51,000 crore. Some companies were reconsidering their plans for expansion due to the existing issues. But that is just a passing phase. IT sector is already under Essential Service Maintenance Act (Esma) and time will heal all problems,” he said.

Despite all political problems and agitations, everyone is interested in the development of Hyderabad, the chief minister said while allaying fears raised by S Mahalingam, CFO, TCS, on uncertainties surrounding the continued development of the state’s capital. TCS was seeking some assurance from the government on the law and order situation.

The chief minister also pointed out that revenues from land registrations have gone up 8-10% above target, signalling increased interest among industries for Andhra Pradesh. His remarks gains momentum as last week the Federation of Andhra Pradesh Chambers of Commerce and Industry (Fapcci) came out with a report saying many companies decided to shift base from Andhra Pradesh due to Telangana agitation. “The state has lost 20,000 jobs in manufacturing sector and 40,000 jobs in IT services segment in the last 12 months. The state also suffered . 200 crore loss per day due to 17 days of bandh last year,” Fapcci had said.

The chief minister also assured industry that the government will consider bringing manufacturing segment under Esma. Many departments including water, electricity and treasury are already under Esma to ensure that political agitations do not lead to government paralysis. While interacting with members of the Confederation of Indian Industry (CII) Southern Regional Council on Friday he said, there should be a debate on the increase in minimum wages of workers as the Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA) has pushed up wages across the nation.

The state’s new land acquisition policy will be in line with the new land acquisition policy proposed by the Centre. “Earlier, land allotments had lead to some problems. We want to avoid that. The proposal is sent to the Opposition parties so that they can study that for 15 days. We will announce the policy soon,’’ he said. As part of the new policy, the state is planning to introduce a single window clearance system for all land allotments.

Many Outer Ring Road oustees yet to get compensation

P Visweshwara Rao, a resident of Kukatpally, lost his 280 square (sq) yard plot to the Outer Ring Road (ORR) project at Pedda Amberpet in 2007. Four years later, even after the Hyderabad Metropolitan Development Authority (HMDA) provisionally allotted 150 sq yards land under the land-to-land compensation scheme in 2008, he still doesn’t have any land.

Like Visweshwara Rao, there are others; over 1,000 people who lost their land and have been waiting for their compensation under the Relief and Rehabilitation (R&R) package for the past three to four years. HMDA officials, who have been scurrying to complete the ORR by next year in its entirety and begin collection of toll tax, seem to have set no deadline to compensate the ORR displaced victims.

Between 2006 and 2008, the HMDA had acquired land from over 5,000 farmers and plot owners for the ORR, of them 3,187 opted for land compensation instead of cash compensation. The urban development authority thus owes approximately 5,40,585 sq yards of land to ORR victims. A government order (GO) issued in December 2006 by the state government specified that farmers who lost over 80% of their land to the ORR project were eligible for land compensation, apart from cash compensation. If the land was designated for agricultural use, the land owners would receive 400 sq yards plot for ever acre with a maximum ceiling of 1,200 sq yards. The plot owners would also be eligible for land-to-land compensation.

The HMDA identified land at six places for layout development like Shamshabad, Kondapur, Yadgarpally, Koheda, Thimmayapally and Srinagar. However, due to various problems, including the lack of a developer for the layout, encroachment and legal wrangles in the allotted lands, the HMDA took three years to hand over the land to about 2,000 of the 3,187 land owners.

In the last four years, 1,111 ORR oustees were given land at Shamshabad, 90 at Yadgarpally, 406 at Kondapur, and 130 were given land at Srinagar. No layout was developed at places like Koheda and Thimmayapally, where 830 and 175 land allottees respectively continued to wait for land compensation. “As per the provisional allotment letter, the HMDA was supposed to hand over developed plots within two years of allotment. However so far, no layout has been developed at Koheda,” Vishweshwara Rao told TOI.

Interestingly, there were some vacant plots at Shamshabad and Kondapur, land owners, who were allotted land at Koheda, have been asking them to give plots there. But the authorities did not bother to hand over them.

Officials said about 118 acres land was identified at Koheda and was supposed to be handed over to them by the Ranga Reddy district administration. Of it, six acres was encroached upon by some people and it took three years to get them vacated.

The land losers are also also crying foul as they would have got interest had they been given cash compensation. The land rates have also come down drastically at the identified places when compared to 2007 rates and cannot sell them to others.

When contacted, ORR land acquisition officer D Bhaskar admitted there was adelay in development of layouts at Koheda and Thimmayapally as they got land from the RR district administration recently. He said it would take another three to four months to hand over the plots to the allottees.

Another Outer Ring Road stretch opened

Chief minister N Kiran Kumar Reddy on Thursday said that the 158-km Outer Ring Road (ORR) will be completed in all aspects by November 2012. Apart from the completed 85.5 km ORR, another 35-km stretch will be ready by November this year and the rest by November, 2012, he added.

The chief minister inspected the completed portion of 23.7 km Narsingi-Patancheru stretch, built at a cost of Rs 2,300 crore, and also three of the six ramps constructed as part of the 11-km PVNR Expressway on Thursday. Immediately after the inspection, the ORR stretch and the ramps were opened for traffic.

Speaking to the media at Poppalguda, Kiran Kumar Reddy said heavy vehicles like lorries and trucks would be allowed to ply on this stretch 24 hours unlike roads where they are allowed only at night. He said the Narsingi-Patancheru ORR would connect National Highway-9 with NH-7 and NH-5.

Meanwhile, the Hyderabad Metropolitan Development Authority (HMDA) has completed three ramps, including the up ramp at Laxminagar, located between pier numbers 76 and 88, the down ramp at Upparpally junction between pier 193 and 212 and another up ramp at Aramghar located between pier 298 and 312. The three ramps would provide easy access to the people residing in nearby colonies to take the PVNR Expressway to reach the international airport. Similarly, the ramps would help commuters exit the expressway.

The PVNR Expressway was taken up by HMDA at a cost of Rs 600 crore and works began on September 1, 2006. The expressway was completed and opened for the public on October 19, 2009.

Buildings violating rules dot Hyderabad Old City skyline

Mohammed Pahelwan’s property, which was all set to be razed by the GHMC on Tuesday, is one among the thousands of unauthorized commercial and residential buildings in the Old City area. Between February and May alone this year, the corporation identified many as 68 ongoing construction projects as unauthorized. Most of the new constructions of which a chunk of them involve remodelling of old buildings do not have required permissions. The town planning officials remain mute spectators in majority of the cases largely due to political interference, sources in the civic body said.

Almost all builders resort to varying degrees of violations or deviations. “With 99 per cent of the corporators in the area representing a single political party, the political interference runs high here,” said an observer.

But GHMC officials say that all the areas, which were brought under the Urban Land Ceiling Act of 1976, including Chandrayangutta, Bandlaguda, part of Bahadurpura, Nawab Sahab Kunta, Hafizbaba Nagar, entire locality of Hassan Nagar, Riyasatnagar, Mecca Colony among others have unauthorized constructions.

According to officials, on an average, 20 new permissions for carrying out constructions are given in Old City area on a monthly basis.

But builders here say that the GO 86, which declared most of the areas in Old City as congested allowing only ground plus two for residential and ground plus three for commercial buildings has come as a huge stumbling block to construction activity in Old City. “Hence, violations are the norm and not the exception. If the violations have come down to 15-20 per cent in the newer areas in the city over the last few years, it’s a different ball game in Old City due to GO 86,” a builder admits.

“Due to GO 86, there is no commercial viability here. Due to lack of awareness among the public, they buy the property whether it has the required sanction or not,” says another builder, who recently completed his project in Noorkhan Bazaar area. He says that the government has to take a relook into the rule. “There are several areas where despite wider roads, the authorities have marked them as congested, which is unwarranted,” he says.

Hyderabad property tax rates to increase next year

Be prepared to pay five per cent more property tax every year beginning April, 2012. The decision to increase property tax has been taken by the Greater Hyderabad Municipal Corporation (GHMC) to repay the Rs 600 crore bank loan being taken for various developmental works in the city.

Announcing the Greater Hyderabad City Level Development Plan at a joint press conference on Tuesday, GHMC mayor Banda Karthika Reddy and commissioner MT Krishna Babu said infrastructure and other developmental works would be taken up at a cost of Rs 813 crore in the next two years.

Of Rs 813 crore, the GHMC has decided to take Rs 600 crore loan from the State Bank of Hyderabad at the rate of 11.25 interest. “With the loan, various works like construction of flyovers, rail over bridges, rail under bridges, road widening, junction improvement works, Musi development plan and construction of community halls will be taken up,” the mayor said. A few months ago, then GHMC commissioner Sameer Sharma had decided to improve infrastructure under the Total Infrastructure Provision (TIP) at a cost of Rs 600 crore. About 800 colonies were identified by the authorities to implement the programme. After finalising the modalities, the GHMC even called for expression of interest from banks and other financial institutions.

Soon after Krishna Babu took over as the GHMC commissioner, he replaced the TIP with City Level Development Plan and decided to take up works like flyovers and other infrastructure works with the loan amount.

The mayor said a separate escrow account would be maintained for the project and contractors would get payments directly from the banks after completion of the respective projects.

On the property tax collections, the commissioner said the property tax was being collected only from 10.50 lakh households, where there were 21 lakh households as per the 2011 census. He said efforts were being made to cover all houses within six to seven months.

Krishna Babu said efforts were being made to get 10 per cent vehicle tax and profession tax from the state government. Ironically, the GHMC has not made any efforts to reduce wasteful expenditure and put any restrictions on sops being given to corporators like laptops, study tours and expenditure on its own officers.

The GHMC commissioner appealed to the people not to purchase unauthorised constructions. He said building plans would be made available at all citizen service centres soon. On footpath encroachments, Krishna Babu said removal of encroachments would be taken up in the first week of every month for the next four to five months and cellar violations would also be removed in a phased manner.

HDFC Launches Online Property Search Portal

2011-09-03T02:58:00.001-07:00

The entry of HDFC Ltd has stirred the online property search business segment. The country’s top mortgage lender has launched its own real estate search portal www.hdfcred.com. The venture will be operated under its wholly-owned subsidiary HDFC Developers Ltd.

“Our portal is a logical extension of our real estate business. Some of the grouses we came across during our research is that the typical home buyer was not able to get all the details to facilitate their property search process. While there is a lot of information lying around across various mediums it is largely scattered. What we have attempted to do with our portal is bring all of it under one platform in a detailed structured manner,” Renu Sud Karnad, managing director, HDFC Ltd, said.

The features offered by the portal include searching for properties in key Indian cities at the click of a button, use of filters to narrow down search, add properties to favourites, compare them, and even find out useful information regarding social infrastructure and facilities available in the neighbourhood.

India’s online property search market is currently estimated to be around Rs 60 crore. It includes general real estate websites like www.99acres.com, www.magicbricks.com, and classifieds portals like www.sulekha.com. The overall market has been growing at 50 per cent.

REAL ESTATE MARKET TO SLOW DOWN WITH RISING INTEREST RATES AND SLUGGING ECONOMY

2011-09-03T02:57:00.000-07:00

Every action has an equal and opposite reaction. After the Reserve Bank of India (RBI) increased the repo and reverse repo rate to 7.25% and 6.25% respectively, the banks and financial institutions have also decided to follow by increasing their lending rates.

In layman’s term, repo rate is the rate at which RBI lends short term funds to banks and RBI accepts reverse repo rate is the rate at which RBI accepts short term deposits from banks.

The RBI projection of moderated economic growth to around 8% for 2011-12 from 8.6% in 2010-11 will surely affect the general mood of investors as a result it will bring down the return on investment in the economy.

The combination of rising interest rates and slowdown in the economy has a great impact on the activities of real estate sector as well. The major reason for the lowering of the economic growth is because of the effort taken by the central bank to contain inflation which is presently hanging around 9%. It is a known fact that whenever financial institutions raise their lending rates it indirectly affects the cost-sensitive Indian real estate market.

The common impact is the rise in the cost of construction for developers and this increase in repo rates by RBI certainly is not the best time for real estate market. As a precaution measure the banks have already taken a cautious approach to real estate lending and reduced their exposure to the sector. And as a consequence of that most developers are now raising a larger component of their construction costs from the private sector. The simple idea that the funds come at a higher cost of borrowing has already increased their construction costs. In this scenario, it is obvious that the developers will pass on the incremental burden to the buyers to maintain their profit margins.

The market for residential real estate market is far from vibrant at the moment. In a case where staying competitive and selling stock is of the utmost essence, developers are unlikely to increase the cost of their units and thereby risk losing more customers. The overall impact of this increase will surely slow down the activities in the real estate sector.

Hyderabad Metro Rail Limited To Develop Two Commercial Complexes

2011-09-03T02:44:00.000-07:00

The government issued an order to Hyderabad Metro Rail Limited (HMRL) to set up a commercial complex at Puttibowli to re-establish the displaced traders of Sultan Bazaar which falls under metro rail’s second corridor.

The government issued the order in response to the proposal submitted by HMRL seeking permission for redevelopment of GHMC complexes at Puttibowli and Chikkadpally as part of the ‘relief and rehabilitation’ package for traders affected in the corridor.

The HMRL has asked the government to use its’ relief and rehabilitation funds for this purpose. The HMRL shall release a tender for developing the commercial complexes.

The complex at Puttibowli is planned to have 220 shops spread over five floors. The HMRL has submitted the drawings for the project and the land for the same is already handed over to HMRL.

HMDA seeks HMRL views for possible underground metro routes in Hyderabad

To save Hyderabad’s heritage from being run over by the metro rail project, the Heritage Conservation Committee (HCC) has for the first time made a statement on the issue and suggested that the metro line be taken underground, at least partially. It has also stated that the metro rail body should take clearance from it before taking up work near any heritage site.

The committee’s proposal came to light in a recent letter sent by the Hyderabad Metropolitan Development Authority (HMDA) to Forum for a Better Hyderabad, in response to queries raised by the latter on the controversial project. In its letter, HMDA stated that the metro rail issue was placed before the HCC at a recent meeting, wherein the body proposed that the project be taken underground on the metro routes that house heritage buildings and precincts. The committee also suggested that the project director (metro rail) seek clearance from HCC before starting work.

According to HMDA, these proposals have now been forwarded to metro officials for further deliberation.

Activists say that close to 17 ancient monuments of the city would have to be pulled down if the metro project is executed in its present form. This list includes parts of prominent buildings such as the Jubilee Hall, Vilayath Manzil, Hyderabad central building division’s office (Moazam Jahi market), Nampally Sarai, Women’s College, Koti, etc.

“Laying underground tracks is the only solution we have in sight to save this heritage cover,” said HCC member Sanjay Torvi. “In the past, when the metro authorities made a presentation before us, we had suggested that the matter be dealt with sensitively. But this time we have made a specific appeal and we hope it is honoured.” The committee also dismissed arguments about the option (of going underground) being unviable owing to Hyderabad’s rocky terrain.

In fact city architect Srinivas Murthy, while lauding the HCC’s decision, said that it was no Herculean task to build an underground rail network, thanks to latest technologies. “It would slightly inflate the budget of the project but then that is a small price to pay to protect the city’s heritage,” Murthy said. Referring to the metro rail in New Delhi, the architect pointed out how the entire route passing through Old Delhi is built underground so as to preserve the character of the area.

Even in Bangalore, city activists say, an 8.2 km-long metro line is being laid underground to protect the ancient Vidhan Sabha building.

“We have forwarded the HCC’s proposal to Hyderabad Metro Rail (HMR) officials. Now it is up to them to conduct the required surveys and see how best they can execute it,” said Sayed Ziauddin, chief planner, HMDA. He said that the HMDA was still awaiting a response from HMR on the issue.

Featured Developers in Hyderabad

2011-09-03T02:37:00.000-07:00

Choice Infrastructure Pvt. Ltd.
Jubilee Hills, Hyderabad
About Choice Infrastructure Pvt. Ltd.
Choice Infra, a benchmark for perfection in the construction industry
Choice Infra, a pioneer in construction and infrastructure development has vast experience in providing high quality building structures to its customers. Based at Hyderabad, Choice infra has served many prestigious landmarks with its efficient planning strategies and quality management techniques in construction. At choice Infra QUALITY plays a major role. Most of its ventures are today considered as benchmark for perfection in the construction industry. We follow unique practices while maintaining "Quality Plus" in developing all our projects.

Choice Infra is the most preferred “CHOICE” for customers.
Choice Infra has always a focused vision in providing its customers with the best services. We aim to attain excellence in providing quality service with innovation and introduction of efficient plans to enhance construction management. We have developed commercial and residential building ventures in Hyderabad and further plan to expand our horizons throughout AP.
We have a team of quality engineers and skilled workers who are efficient and experienced in the field of construction and infrastructure development. Our success lies behind our whole and sole commitment to maintain premium quality in construction and adhering to the management practices that can deliver the end needs of the customers. Choice infra is best gateway to reach all your construction needs.
Our construction projects using state of the art technologies stand as our cornerstones of success. We are experts in construction, Infrastructure Development, Real Estate management and Infrastructure Consultancy. Our projects come with ample greenery, luxurious amenities and modern design & equipments. We take extra care to provide you a home with perfect vastu planning and clear titles so that you lead a hassle free life.
Trust us for your better home needs. We have a long list of happy customers who have approached us for their construction and infrastructure needs.
Vision
To become a leader in construction industry in the global market by attaining excellence in quality with continuous innovation, development and adoption of eco friendly materials to enhance construction management.
Mission
To maintain quality in construction and infrastructure development with ethical business practices and high end professional support.
Management Team
Shashidhar Reddy - Managing Director
Shashidhar Reddy, the managing director of the company is a graduate in Engineering from Osmania University. He is into the property development and construction for the past fourteen years and completed prestigious commercial and Residential ventures at various places in Hyderabad. Transparency in the deals and documentation is the key point time and again enforced on the “Team Choice”.
Malathi Reddy - Director
Malathi Reddy, the director of the company is a Post Graduate in Genetics and also did her Doctorate in Genetics from Osmania University. She has won many awards and fellow ships. She has worked as Senior Scientific Associate in informatics division of GVK Bio. She contributes to the administration evolution process by constant evaluation of Management Information Systems of the Company. Technology Innovation and Research & Development are her core areas.
Rammohan Reddy - Director
Ram Mohan Reddy is an Engineering Graduate from Osmania University. He heads the operations team of the Company. Timely execution of the projects and solving consumer grievances with our “Quick Response Team” are taken care by him.

JR Builders & Developers
Hi Tech City, Hyderabad

About JR Builders & Developers

The founder of JR Builders & Developers Mr. Achyuta Reddy Pannala has lived and worked in the US for more than 17 years. After observing the designs, floor plans and many other amenities available in the US homes, he wanted to build a construction company in India to avail the same facilities, features and home designs that make the living highly comfortable. JR builders uniquely suits to any home buyer with modern ideas and thoughts in terms of home plans & designs and any NRI looking to own a home in Hyderabad . Mr. Achyuta Reddy possesses a Bachelor of Engineering degree in Mechanical Engineering, an M.S. degree in Manufacturing Engineering and a second M.S in Computer science from the US universities. Mr. Reddy has worked in many reputed organizations in the US as an IT consultant. In Mr. Reddy's opinion, there are many similarities between building a home or creating a software application, both have common phases such as planning, scheduling, budgeting, human resources management, execution (construction), quality control, delivering and providing the after sales support!

JR Builders is a ‘quality conscious' organization that takes utmost care in every aspect of construction in every unit that it builds. With us, owing your dream home will be an exceptional experience that makes you feel easy and happy throughout the process. Our specialty lies in the selection of premier locations, usage of renowned designs and floor plans that are effective and efficient and the usage of high quality materials in every single ‘inch' of your home. Our team with extensive expertise in the fields of architecture and construction make us to be uniquely qualified to be your builder.

Pradeep Constructions

Ameerpet, Hyderabad

About Pradeep Constructions

Pradeep Constructions is a leading construction company based in Hyderabad, India, and focuses mainly on the development of residential and commercial real estate. The company was founded in 1989 by B. Srinivas Reddy, an engineer with a number of previous years of experience in infrastructure and the construction of residential Government buildings. Today, 20 years later, Pradeep Constructions has achieved a well-earned reputation for excellent quality and aims to build on this to rise to the next higher level of growth.

Pradeep Constructions has built residential and commercial complexes across the city of Hyderabad, all of which demonstrate their trademark excellence. The company takes pride in high levels of quality and timely delivery in all of its projects. Further, every project undertaken by the company incorporates sizeable open spaces and green areas, providing both breathing room and a sense of space.

Nora group

Secunderabad HO, Hyderabad

Nora group Projects

Krishna kunja gardensBowenpallyPrice Range: Contact for priceArea Range: 940 to 1939 Sq Feet

About Nora group

To achieve and retain a dominant position in the field of Promoters and Developers, Sales Promoters ... and Constructions... By establishing high Standards of Quality, Capability and Reliability...

To be competitive, responsive and continuously improve services so as to ensure total customer satisfaction. To Provide the level of quality in the work carried out that is not less than that specified within the contract.

To Maintain and improve in co -operation with the client, the environmental integrity of the areas and taste we work in... to aim at a healthy environment and give health and stylish lifestyle integrated the self standard in the surroundings through continuous proactive control measure...

We achieve this by having a suitably trained... competent and committed work force who know and understand the company objectives and operations of our Integrated Management System...

The CEO has his personal experience of almost 8years in this area as professional qualified as Promoter and is the key Managing Partner of the Company…and the General Management of the Business and administration is taken care by two other working partners of the Company. All the Partners to the company provide advice and support their role as Chief Mentors and have proven their ability through the growth experienced by the company. The Company was Incorporated to partnership firm by name M/s Nora Projects & Business Solutions, part of nora Group in December 2002 and now has grown to an extent that a new Administration to accommodate the expanding business is developed.

Effects of the Recession on Real Estate

2011-09-03T02:09:00.000-07:00

The great depression in the United States along with the global market drastically led to a negative impact upon the Real Estate market. Ever since its existence the Real Estate market in the United States targeted in efficient usage of the lands. However the recession in the year 2007 led to a sudden downfall in the market resulting to immense and drastically unemployment conditions.
The sudden degradations in the employment scenario has recently in the low demand for the houses which has adversely affected new constructions to occur. Though there are several first time buyers in the market the constructors find it difficult to cope up with the demand of the clients.
This is how the global profit scenario has drastically fall in the United States resulting to a consistent urge in the price mechanism. In order to make up with the immense loss, the government of the United States has issued an option of ARM which will result in the purchasers to choose the amount they are willing to pay every month during the commencement of a loan.
The following briefly states the different options for the home purchasers to make payment:
• A 30 year full payment rate of amortizing
• A 15 year payment rate of self amortizing
• A payment with only interest
• A base rate without any coverage of the monthly costs of interest
Such unbelievable yet true market situation has not only led the home buyers hapless but also made them unable to make the necessary payments to repay for the mortgage they made.
The last six months however is showing some rise in the real estate market situation in the United States. There have been some traces of stability among demand and the price mechanism. As the recession gets over majority of the richer sections feel that this is perhaps the right moment to make the real estate purchases as the market is expected to flourish and boom within the next decade.

Buying a Home through internet

2011-09-03T01:46:00.000-07:00

The decision of buying new home is never easy. You need to visit different properties, determine their pros and cons before making a decision. It needs complete understanding of the intricacies related to real estate business. Not only that, you also need to devote sufficient time for scrutinizing every corner of the property before purchase. If you do not have so much time, going for virtual tours of new homes will be the ideal option.

A Brief Overview
With an internet connection to your computer, you can easily find the best real estate agents of your area. You can also browse through their listings even without visiting their offices. Then, why should you waste your time to visit the property? Plug in the internet connection to any high definition monitors to see a detailed view of the home you want to buy. Zoom in and out from different angles to make the right decision.

Make the Right Use
Virtual home tours are meant to help prospective buyers get a detailed view of the home and not a glance. So, do not hurry and give a careless look. While watching the video, try and determine the focal point of every room. If you are planning to purchase unfurnished home, it is more important to understand the focus of the rooms to decorate it properly. Viewing the bedrooms, living rooms or family lounge and terrace is not all. Your tour remains incomplete if you do not inspect the bathroom, kitchen and garage.

If you are someone who do not want to invest much time for property buying or do not want to take unnecessary hassles for travelling from one place to other, virtual tour is the most suited option. In most of the cases, a short video of the real estate agent is added with the home video, which in turn helps you gains some idea of the agent too.

Real Estate Tips for Beginners

Real estate is now the booming sector all over the country and this always has a great demand for ever in the future with growing needs of good shelter. Real Estate is one of the largest sectors in United State and also in the world.
Real Estate in US, is actually divided into two sectors, and they include Residential and commercial real estate. Most of them concentrate on the residential sector of real estates, but of course there is also an equal attention growing for commercial sector in the economy. The commercial sector of real estate is of shopping malls, offices, warehouses, factories and commercial buildings.

When considering real estate and investment in it, the investors must understand many things like trends of house price, value of the property that you want to invest up on, assessing the condition, forms of financing real estate and secured mortgage which is suitable.
Real estate plays a significant role in the United States as it comprises largest asset for many consumers and provides a considerable income for the Government in the form of tax. Here are some of the tips for the investors who are beginners to consider things about real estate:

•    The investor must first consider if the investment he makes on the property will be a lifestyle one. It is also necessary to get advice for tax planning because it subjects of taxation if things are not set right for investing in a property

•    You must consider about where your property is going to be held

•    Financing the property is the next consideration and you must be aware of the financing programs available for real estate

•    Also you need to consider about how long you will spend your life in that locality. It more depends with if that is going to be just an investment property or a lifestyle property

•    You must consider, what you invest is actually worthy of that property either lifestyle or investment

•    Also compare the rates of other property in that locality to get an idea about if what you invest in the property is the right investment

Looking to buy a house? Wait till March 2011

2010-11-27T00:52:00.001-08:00

Those of you who wanted to buy a house, but have found the prices too steep, can take heart. If realty experts are to be believed, the coming March will see property prices coming down. The past one year has seen investor groups from across the country and abroad pumping money into Ahmedabad’s realty market.

Developers have taken advantage of this and hiked the residential property rates, comparing the city with metropolitan cities like Delhi, Mumbai and Bangalore.

This had resulted in the investors’ share in residential segment going up to 75 per cent. According to experts, this is not an ideal situation for real estate. Hence, realty experts and consultants are expecting around 25 per cent correction in the residential property by March 2011.

Mukesh Vasani of City Estate Management said, “Investors’ share in residential segment here has gone up to 75 pc. Of which, 50 pc comprise investors from Mumbai, Pune, Delhi, NRGs and NRIs.”

Moreover, Vasani added that around 50-odd under construction schemes will produce an additional 12,000 to 15,000 unit houses. So, the investors of overpriced properties are willing to exit first. Same is the case with the small-time investor, he said.

Ashutosh Limaye, associate director (Strategic Consulting), Jones Lang LaSalle Meghraj, agrees with the trend. Explaining the reason for the looming crises, Vinod Thakkar, CEO of Square feet realty firm in Mumbai, said, “IT cities such as Pune, Hyderabad, Banglore and Chennai are still struggling to come out of the financial crisis. Hence, the realty market there is unstable, whereas Delhi and Mumbai have become super-speculative markets. The outskirts of Mumbai is also seeing some correction. For example, Kalyan has a poor infrastructure and is far away from the city.

Thakkar, who has opened a branch here, is hopeful. “Gujarat being a progressive state and Ahmedabad being the financial hub, it is seeing robust realty boom. This has motivated other state investors to pump in money here. If this continues, it can go the Mumbai way.”

Get building permit in 4 days: GHMC

2010-11-27T00:51:00.001-08:00

Hyderabad

In order to dispose of building permissions applications in a speedy manner, the Greater Hyderabad Municipal Corporation (GHMC) introduced the Green Channel on a trial basis from Monday.The new concept of giving building permissions within four days will be implemented in a full-fledged manner in all the circles in the next five days. The applicants can submit their applications at the citizen service centres of the municipal circle concerned.

Unlike the Tatkal schemes, no additional fee would be
levied or collected from the applicants. The Green Channel is applicable only to those seekinggo-ahead for construction of ground+three floors (12 metres height) excluding parking floors or 1,000 sq metres area plots in the municipal corporation area.

If the applicant does not get the building permission within four working days despite submitting all the relevant documents and there being no delay on the part of the town planning wing, he or she will be entitled to a payment of Rs 50 per day till the permission is granted. This late fee will be recovered from the salary of the officer concerned.

Initially, permissions under the Green Channel will be given to the layouts that have been approved by the Hyderabad Metropolitan Development Authority or the Greater Hyderabad Municipal Corporation (GHMC).The applications will have to be submitted through registered architects to ensure that the plans are in conformity with the master plan and zoning regulations.

If the documents submitted by the applicants, which are certified by the architects, are found to be false or fake, the latter’s licence will be cancelled and criminal and civil action taken besides cancelling the building permission.When the scheme was announced by the GHMC last month, the town planning wing said architects should submit three bank guarantees each for Rs 10,000 for each application. Now, the corporation has relaxed the norm and said only a one-time security deposit of
Rs 25,000 will have to be submitted along with the Green Channel applications.

The architect, who submits the building application on behalf of the builder or owner, should submit a monthly progress report on the construction of the building and should list the deviations, if any. If he does not submit themonthly report, his guarantee will be forfeited by the corporation. If the report is not submitted for a three-month period, the corporation will cancel his licence.

Some architects wanted to remove the clause of action against them, but the corporation officials said it cannot be relaxed. “All the circle-level town planning staff have been asked to clear their pending files within four days and implement the Green Channel after five days. The Green Channel applications and proforma are prepared in a simple manner,” GHMC additional commissioner (planning) G Rajendra Prasad told TOI.

Green Channel Challenge
Applicants are entitled to Rs 50 a day for every day of delay. This will be recovered from officer concerned
Architects to face civil, criminal action for fake/false data
Architects to submit three-month progress report
Failure to submit reports will result in forfeiting of their security deposit

Real estate emerging as a asset

2010-11-27T00:50:00.001-08:00

While stocks and bonds have held their position as traditional investment instruments, investors are increasingly looking for alternate investments such real estate, hedge funds, private equity and exchange-traded funds (ETFs) to engineer an overall enhanced performance of their portfolios.

Improving construction quality, enhanced market transparency, and availability of suitable options have made real estate a good asset class to invest in. It provides a stable and predictable income yield along with a possibility of capital appreciation. While residential markets in India have already witnessed a rapid bounceback, commercial markets had touched a cyclical low and are expected to recover.

The market value of investment-grade real estate in India under construction has increased from USD 69.4 billion at end-2006 to USD 101.3 billion by end-June 2010, which is 8.2 percent of India’s nominal GDP for 2009. A significant portion of this market value is costs of construction and development of these real estate assets. The costs have been assessed to be USD 48.5 billion over a period of 2-3 years.

The market value of commercial (office and retail) real estate under construction is USD 34.8 billion. Commercial office space under development contributes 74 percent of the estimated market value being developed in the commercial sector. As of the second quarter of 2010, Tier I cities of Bangalore, Mumbai, and NCR-Delhi contribute to 70 percent of the market value of commercial office space under construction, while Tier II cities of Chennai, Pune, Hyderabad and Kolkata contribute to 21 percent of the pie. Other investment-grade developments in Tier III cities contribute to a mere nine percent of the pan-India market value being developed in India today.

However, with infrastructural developments and lower real estate costs, the share of Tier III cities is likely to grow in future. While the Tier I cities contribute to 62 percent of the commercial retail space under development, 27 percent is supplied by the Tier II cities.

The residential sector has been the most resilient one in the recent downturn, aided by the high demand for housing in India. While residential property prices slumped in the first half of 2009, their rapid recovery in the second half of 2009 and first half of 2010 was accompanied by a slew of launches across India.

As of the second quarter of 2010, the market value of residential properties under construction is USD 66.5 billion, contributing 66 percent of the value of total real estate under construction in India.While the premium segment comprises only four percent of the saleable area being developed, it contributes to 24 percent of market value. While NCR-Delhi leads in terms of volume of residential properties being developed, Mumbai contributes a larger share to the market value.

Foreign direct investment (FDI) in housing and real estate in India increased steadily from USD 0.04 billion in 2005-06 to USD 2.18 billion in 2007-08. Since 2007-08, a total FDI of USD 7.82 billion has been put into housing and real estate in India. Considering an average construction period of three years for properties, this comes to 7.7 percent of the market value of investment-grade real estate under construction as of the second quarter of 2010.

HMDA to wind up ORR land issue

2010-11-27T00:47:00.000-08:00

Hyderabad:

After five long years, the Hyderabad Metropolitan Development Authority (HMDA) is all set to wind up the land acquisition process for the Outer Ring Road (ORR). It is planning to end the process in January 2011 by allotting land-to-land compensation to about 2,800 individuals, who game up their land for the project.

The authority has also started posting village-wise details of names of the affected land owners, survey no., extent, compensation paid and structural value on its website. HMDA officials said details of Units 2, 4, 5 and 6 have been posted on the website, while Unit 1 details would be put up soon.

For the 170-kilometre ORR, land acquisition process began in 2005, but gathered momentum only in 2007 after the state government fixed compensation package for farmers losing their valuable land to the ORR.

For ORR Phase I, II-A and II-B projects, the HMDA had acquired nearly 6,100 acres in 85 villages in surrounding areas of the city from 8,000 land owners. In Unit 4, which covers areas like Shamirpet, Thumkunta, Yadgarpally, Cheeryal and Ghatkesar villages and part of Phase II-B, 2,016 property owners lost their land.

Over 80 acres of land — 55 acres in Kandlakoya, four acres in Poppalguda, 10 acres near Muthangi junction, eight acres in Shamirpet and four acres in Keesara areas — are still caught in legal wrangles. Officials hope the court verdict would be out by the time the ORR gets completed in 2012.

Towards land acquisition, nearly Rs 500 crore compensation has already been paid and another Rs 100 crore would have to be paid to land owners in some areas where the urban development authority deposited a part of the compensation in court as the land owners did not come forward to take compensation and denied to give consent. In some cases, there were title disputes between parties, while in some there were no claimants.

At the beginning, officials thought they would need about 8,000 acres of land for ORR and satellite townships along it. The authority even created separate units to acquire land.

However, they dropped the idea of acquiring nearly 2,000 acres for townships following opposition from the people. An acquisition unit, 3, was also withdrawn by HMDA three years ago. “Under land-to-land compensation to 3,600 individuals, 859 people were allotted plots in developed layouts in Shamshabad and Srinagar. The rest would be given plots in Kondapur, Yadgarpally, Thimmaipally and Koheda by January, 2011,” ORR special deputy collector (land acquisition) K Bhaskar said.

Hike in Prime Lending Rates (PLR)

2010-11-27T00:44:00.001-08:00

Following the Reserve Bank of India’s (RBI’s) decision to hike its key policy rates in its monetary policy review last month, some banks have raised their prime lending rates (PLR) even as they left their recently-declared base rates unchanged.

According to the RBI’s guidelines, all categories of loans sanctioned after July 1 have to be linked to base rate — the floor rate below which a bank cannot lend, while the ones extended during the old regime could continue till they are up for renewal or a switch over takes place on mutually agreed terms.

For home loan borrowers, what the recent PLR hike means is that those who have taken a loan after July 1 — when the base rate regime came into being — will not be affected by this hike, but those who have not made the switch to base rate yet will see their equated monthly instalments (EMI) moving northwards. It is seen as an attempt by lending banks to coax borrowers to embrace the new benchmark.

Consequently, the question topmost on the minds of borrowers with home loans linked to PLR is whether it’s best to voluntarily shift to base rate to ensure lower home loan interest rate. The answer to the question perhaps depends on the situation you are in.

If last installment due is several years away

Those who have taken a home loan, say five years ago, and still have several years to go before the repayment tenure ends would do well to look at moving to base rate. “Borrowers would be better off switching to base rate as it is mathematically arrived at and is a more transparent method of computing the benchmark. Any changes in the liquidity situation or policy rates will have a direct bearing on home loan rates for all borrowers,” explains Kamlesh Rao, executive vice-president, personal finance and mortgages, Kotak Mahindra Bank.

The purpose of getting banks to devise a new methodology of determining benchmark was to introduce more transparency into loan pricing and ensure a fair deal for old borrowers. In the past, banks have been accused of meting out step-motherly treatment to existing borrowers. During the global slowdown, when the central bank reduced policy rates to prevent economic growth from slipping, banks were quick to cut lending rates to attract new borrowers, but the benefits were passed on only sparingly to existing borrowers. On the other hand, when interest rates move upwards, banks rarely hesitate to increase the home loan rates.

The new mechanism requires banks to review their base rates at least once every quarter and ensure that any changes made are applicable to all class of borrowers. For instance, if your bank has fixed its base rate at 7.5% and the home loan rate is pegged at base rate + 2%, that is, 9.5%. If the base rate is revised downwards by 50 basis points, your home loan too will have to come down to 9%. In the earlier regime, this would not necessarily have been the case as banks could afford to avoid reducing PLR, while continuing to lend to corporates at sub-PLR.

If your loan is nearing closure

Now, consider another scenario, where you have merely a year left to call your house entirely your own. Do you opt for base rate, since it is meant to be loaded in favour of the borrower? “Such a situation calls for a comparison between the rates applicable currently and the ones linked to base rate. If the old rate is beneficial, it may be better to continue with it,” says VN Kulkarni, chief counsellor with the Bank of India-backed Abhay Credit Counselling Centre.

If you have borrowed under the special teaser rate schemes
Such borrowers are currently best placed in terms of being spared of the dilemma to choose between base rate and PLR. These loans are so structured that a pre-determined interest rate is charged in the initial years, after which it tracks the interest rates prevailing then. Therefore, once the fixedrate period draws to a close, their loans will be automatically linked to base rate. In short, at the moment, they do not need to do anything.

Shifting Base

You can call your bank’s customer care service or visit your branch to express your intention to switch over to base rate. There is no standard format for making such an application. Either the bank will provide an application form or ask you to write a letter mentioning the details of your loan and your willingness to move to the new system. Once the new terms are accepted, the bank will facilitate the transition to base rate.

Interest Qualifies For IT Deduction

2010-11-27T00:43:00.000-08:00

Interest on borrowed capital is allowed as a deduction while computing income or loss under the head ‘Income from House Property’. The relevant provisions are contained under Section 24 of the Income Tax Act.

In the case of a self-occupied house, a normal deduction of Rs 30,000 is allowed towards interest on borrowed capital. However, a deduction on account of interest up to a maximum limit of Rs 1.5 lakhs is available in case the loan has been taken on or after April 1, 1999.
The loan must have been taken to construct or acquire a house. In addition, the construction or acquisition of the residential unit with the loan should have been completed within three years from the end of the financial year in which capital has been borrowed. The higher deduction is not allowed towards interest on capital borrowed for repairs or renovation of an existing house.
In order to claim the higher deduction you should furnish a certificate from the bank to which the interest is payable. It should specify the amount of interest payable. The loan should be for the construction or acquisition of a house.
The essential conditions necessary to avail the higher deduction of Rs.1.5 lakhs are:
The amount must have been borrowed on or after April 1, 1999
The acquisition or construction of a house must have been completed within three years from the end of the financial year in which the amount was borrowed
There is no stipulation regarding the date of commencement of construction. Consequently, the construction of the house could have commenced before April 1, 1999, but, as long as its construction or acquisition is completed within three years from the end of the financial year in which the capital was borrowed, the higher deduction will be available.
It should also be noted that there is no stipulation regarding the construction or acquisition of a residential unit being entirely financed by capital borrowed on or after April 1, 1999. A loan taken prior to April 1, 1999 will carry deduction of interest up to Rs 30,000 only. However, in any case, the total amount of deduction on interest on borrowed capital will not exceed Rs.1.5 lakhs in a year.
The interest is deductible in five equal installments commencing from the previous year in which the house has been acquired or constructed. The first installment is deductible in the year in which the construction of the property is completed or it is acquired, and the balance four installments in the four subsequent years.
The interest is allowed as a deduction on accrual basis - on due basis, even if it has not actually been paid during the year. The essential condition is that the assessee should borrow the money, and the interest should be payable on the borrowed capital. The money can be borrowed for construction of property, acquisition of property, repair or reconstruction of property.

Role of a lawyer in the real estate

2010-11-27T00:40:00.002-08:00

You have been eyeing a property in the city. You have saved enough to afford the house, but once you set about the process of actually buying it, you realise that it is quite a complicated procedure. So where does the layperson start ? How do you go about buying and selling? Who will help you negotiate, liaise with the developer/buyer, value the property, check title-deeds, draft the agreement, register, and get the best deal ? A good lawyer, of course.

Many buyers and sellers go about their transactions without professional help. But in fact, this can lead to complications and misinterpretations.Hiring an able lawyer will help smoothen real estate dealings. Real estate is not simply about locating what you want and plumping down the cash. You may inspect a plot or building and say, “That looks fantastic.” But don’t take the plunge yet.
Behind the beautiful façade there may be snags aplenty - spurious or no title deeds, illegal permits, pending litigation, defective land use classification, encroachments, encumbrances and a host of critical concerns that do not catch the unwary, unknowing eye.
Title is vital
A good title is the foundation stone for a valid real estate transaction. For those of you who wish to become genuine trouble-free land owners, and have no clue how to go about it, here’s a quick guide to what a real estate attorney will do for you.
• Assist in negotiations between parties, property inspection, valuation and fair agreements.
• Due Diligence: Going through the gamut of the real estate transaction processes with an eagle eye.
• Title confirmation of current land owners, including verification of sale deeds and other title deeds pertaining to previous transactions to check proper flow of title.
• Ensuring that there is no pending litigation.
• Zoning/Land Use/Acquisition: To ensure proper classification regarding urban, commercial and check if any acquisition action is pending.
• Checking if Open Space Reservation (OSR) will be applicable to the property.
• Verifying statutory obligations: Up to date payments of Property/ Corporation Tax, Water and Sewage charges payment receipts.
• Physical Verification of Tital Deeds : It is not enough to check the title flow. Authentication with the originals, is an absolute must.
• Document Preparations
Another crucial part of the proceedings. Only a lawyer wellversed in documentation, can guarantee that things are legally foolproof, or rather litigation-proof.
• Registration of documents
The legal sealing and stamping of the deal at the Registrar’s Office. Registration is done after valuation of the property and calculation of the stamp duty and other dues.This is only a broad outline of the due diligence process and all that needs to be done legally. Specialised assistance is invaluable, to steer you through the real estate contracts.

House owners can’t overcharge tenants

2010-11-27T00:40:00.000-08:00

Tenants who fear that landlords might increase electricity charges after the recent hike in power tariff can breathe easy. The Tamil Nadu Electricity Regulatory Commission (TNERC) has issued a statement saying overcharging was a crime and that affected persons could lodge complaints with the Tamil Nadu Electricity Board (TNEB).

Though the average consumption of a household is 150 units bi-monthly, common complaint most tenants have is being overcharged by landlords. Often they are asked to give a fixed amount monthly, which varies from Rs 500 to Rs 3,000.

“Overcharging tenants is an offence under Sections 142 and 146 of the Electricity Act 2003, punishable with fine up to Rs 1 lakh and imprisonment up to 3 months. The public can lodge complaints with the TNEB, which has been advised to file complaints before the Commission under Section 142 of the Electricity Act 2003 or before the appropriate judicial magistrate under Section 146 of the Electricity Act 2003,” a TNERC official said.

In September 2009, state electricity minister Arcot N Veerasamy warned houseowners of strict action if they charged extra for electricity. But no action was taken. The TNERC now feels charging excess may increase with the government hiking the tariff.

TNERC sources said the highest tariff applicable to a domestic consumer was Rs 4.05 per unit as on date, if the total consumption of the household exceeded 600 units bi-monthly (after the government subsidy of Rs 1.70). So a landlord can collect a maximum of Rs 4.05 per unit.

KP Prasidha Kumar, who lived in a rented house in Royapettah, said he was charged Rs 3,000 bi-monthly by his owner. “Apart from a refrigerator and television, we did not have any electronic equipment,” he said.

Ramakant Chakraborthy, of Triplicane said, “I just have two fans, three tubelights and a television in my house. But my landlord charges between Rs 1,000 and Rs 2,500 every two months. Many times I asked him to show the EB card, but he refused,” he said. Chakraborthy said he even tried to contact the TNEB vigilance department but received a cold response.

Benefits of Green Homes

2010-11-27T00:38:00.001-08:00

With climate change, energy, water efficiency and waste management becoming areas of national concern, sustainability and green can no longer be ignored by anyone or any sector really. Today, in most parts of the world and in India as well, sustainable developments are slowly replacing traditional construction and building practices in an effort to minimise negative impacts on the environment as much as possible. The commercial sector and corporate world have already started working their way to creating sustainable and energy efficient spaces. While this is a welcome move, unless the residential sector of our country embraces sustainability and green concepts, as a nation, very little progress can be made.

In India, today the housing sector is growing at an exponential pace and is also contributing significantly to the economy. While best construction practices are being employed by all stakeholders in the residential sector, sustainability concepts are only beginning to catch their attention.

Green homes can have tremendous benefits, both tangible and intangible. The immediate and most tangible benefit is in the reduction in water and operating energy costs right from day one, during the entire life cycle of the building. The energy savings could range from 20 - 30 % and water savings around 30 - 50%. Green Homes Ratings can also enhance marketability for the project. Intangible benefits of green homes include enhanced air quality, excellent day lighting, health and wellbeing of the occupants, safety benefits and conservation of scarce resources for the nation.

Green homes are really not new in an Indian context. If you look at traditional Indian designs and practices for homes, you will notice that we were extremely green in our approach and practices - we recycled almost everything, we used local materials in all our construction be it mud blocks or white wash which ensured that the carbon dioxide levels in the rooms were very low (lime is a good absorber of CO2). Similarly all our buildings were well lit and ventilated. If you look at traditional south Indian homes, the doors are aligned in a straight line from the home entrance till the back of the home to facilitate better cross ventilation. Similarly the “mutham” of our olden day architecture is nothing but an internal courtyard that brings in light into most parts of the house. Today of course with modernisation and westernisation, we have started getting influenced by the west in the way we build buildings and the entire green building movement today is a good way to bring back people to reality and make them look at various serious issues such as water conservation, energy conservation, site preservation, minimization of waste and providing better indoor environment for all the occupants.

Green home concepts today include various measures to reduce energy consumption such as better building envelope materials including glazing, walls and roof systems, lower lighting power densities through use of CFL, T5 and LED lights for many parts of the residential development including external, landscaping and common areas, solar hot water systems instead of traditional electric heaters, etc. Similarly most green residential developments are pursuing various water efficiency measures including installation of sewage treatment plants to treat and reuse treated water for landscaping and toilet flushing purposes, rain water harvesting, use of native and drought-tolerant landscaping species to reduce irrigation water consumption, low flow but high efficiency toilet fixtures, better irrigation practices such as drip irrigation, etc. In the materials front, various green materials are being used today including materials with high recycled content, materials that are rapidly renewable such as bamboo, low VOC (volatile organic compound) materials for better indoor air quality, etc. Waste management is also another focus area with many developments opting for organic waste management systems or composting systems, on-site recycling practices in an effort to promote green and sustainability among the occupants as well.

Chennai has been a leader in sustainable building designs and practices since the start of the green movement in India in early 2000. In Chennai we have one of the first Platinum-rated individual green homes in Madipakkam and there are several multiresidential developments that are currently embracing sustainability designs and pursuing green homes certification as well. These developments include upcoming residential projects for Tata Housing, True Value Homes, Appaswamy Estates, Real Value Homes, Akshaya Homes, IVR Prime Realty among others that are pursuing green homes certification for many of their developments coming up in various parts of the city.

In conclusion greening residential spaces can also help considerably reduce the overall negative impact on the environment and reverse the practice of unsustainable construction activities while reducing operating costs, enhancing building marketability, increasing occupant satisfaction and all the while creating spaces that are healthier to live and work. For us in India, it is crucial that these important aspects of sustainability are addressed by the construction industry as we build the nation’s infrastructure for the next century over the next couple of decades.

The writer is Executive Director of En3 Sustainability Solutions Pvt Ltd, a sustainability and green building consulting firm, Past President of ASHRAE (American Society for Heating, Refrigerating and Air-conditioning Engineers) South India Chapter and the Past National Environment Chair for CII Young Indians

GREEN BRIGADE
Shivani Bail attempts to simplify our understanding of green buildings by talking to experts in the field

As per the definition of the Hyderabad-based Indian Green Building Council (IGBC), a not-forprofit organisation that is actively involved in promoting the green building movement in India, a green building is one which uses less water, optimises energy efficiency, conserves natural resources, generates less waste and provides healthier spaces for occupants, as compared to a conventional building. “In addition to this, a green building also improves the productivity of people living or working within it and is commercially beneficial in the long run,” says S Raghupathy, Senior Director and Head of the IGBC and the Confederation of Indian Industry (CII)-Godrej Green Business Centre. “In countries like Australia, Europe and the USA, studies have shown that green buildings have increased productivity in the workplace by 14 to 15 percent. The use of natural light, the improvement of ventilation by monitoring carbon-dioxide content in the work environment and the construction of better views are some of the reasons why productivity improves. More importantly, green buildings also dramatically lower costs in the long run. Energy costs go down by around 30 percent, around 30 to 70 percent of water gets conserved and maintenance costs drop.”

Despite these concessions, there is no doubt that these buildings are more expensive to construct than regular buildings. They often incorporate sewage treatment plants, solar cells, motion sensors and compact fluorescent lamps (CFL) among other things. “Today, with the energy and maintenance savings that these buildings make this difference in cost is made up in approximately four years,” says Raghupathy. With such obvious commercial benefits, it’s no wonder that an increasing number of builders and developers want to construct green buildings.

However, it is not easy to claim green building status says Deepa Sathiaram, Executive Director, En3 Sustainability Solutions, a LEED accredited professional and green consultant for the Tamil Nadu Legislative Assembly project. “Several projects claim to be ‘registered’ green buildings. When builders are serious about their commitment to constructing a green building, they get themselves pre-certified - to distinguish themselves from people who claim to be registered. That said, to a large extent precertification is done primarily to help position and market a building better. Pre-certification involves allowing third party experts to scrutinise your design layouts even before you buy your materials and begin construction,” says Deepa.

QUICK BYTES
THE IMMEDIATE AND MOST TANGIBLE BENEFIT OF GREEN HOMES IS IN THE REDUCTION IN WATER AND OPERATING ENERGY COSTS RIGHT FROM DAY ONE, DURING THE ENTIRE LIFE CYCLE OF THE BUILDING

SBI cuts loan rates, others set to follow

2010-11-27T00:20:00.001-08:00

New Delhi
Loans from the country’s largest bank, State Bank of India, will become cheaper by half a percentage point from June 29, with the bank cutting its Benchmark Prime Lending Rate (BPLR) by 50 basis points from 12.25% per annum to 11.75%. Other banks are expected to follow suit within a week.
SBIs new rate will be passed on to all its existing customers who took home, education and personal loans at floating rates.
However, clients who availed of a special offer by the bank under which they are charged only 8% interest rate on home loans and 9% on education loans for the first year, will continue to pay the same rates.

Dewan Housing offers 8% loan to new takers

2010-11-27T00:14:00.001-08:00

The competition in the low-rate housing loan segment got a bit more stiff.
Dewan Housing Finance Ltd (DHFL), one of the private mortgage finance players, launched home loans at a rate of 8% per annum and also decided to extend the loan repayment period to up to 25 years.
Currently, most housing loan players in India offer loans of up to 20 years. Beginning with banking major State Bank of India (SBI), in the last few months a number of mortgage players have launched home loans with rates below 9% for the initial years.
DHFL’s offer, christened DHFL Easy Easy Loan’ scheme, is for new customers only.
Under this scheme, which is launched as part of DHFL’s silver jubilee celebrations, loans are offered at a fixed rate of 8% for the first 2 years for loans up to Rs 5 lakh. Loans between Rs 5 lakh and Rs 20 lakh are offered at 8.25%. At the end of the second year, the rates will revert to a variable mode.

Going for a home loan? Negotiate for best terms

2010-11-27T00:13:00.000-08:00

While banks are currently going all out to offer home loans around the 8% range — for a limited period of two to three years — consumers are advised to not sign up hurriedly for any without first hunting for the best bargain.
This suggestion comes from a senior banker, who further asks prospective home buyers to look up the FAQs (frequently asked questions) recently put up on the Reserve Bank of India website (www.rbi.org.in) for a comprehensive ‘to-do’ vis-a-vis home loans. Sample an advice on the site: “Once
you know what each bank has to offer in terms of rates, fees and down payments, negotiate for the best deal.”
Senior bankers second that both loan rates and terms and conditions are up for negotiation. “Ask the bank to reduce the processing fees, waive other charges… There is nothing like a bank syndication in loans. There will always be variation,” says a banker.
The FAQs make another point which is relevant in the context of the current rate war — you may try to negotiate a lock-in that should include the rate that you have agreed upon initially and the period the lock-in lasts.
The banker says that although banks do not admit to this, the lock-in period during which banks do not reset the rate of interest or convert a loan to floating can be stretched. “But get the assurance from the bank in writing.” This is especially common in loans to high networth individuals or in group bookings.
K Unnikrishnan, deputy chief executive at the Indian Banks’ Association, insists that negotiations are not seen in low-value loans, but “in specific cases, in large-value transactions, banks can go back to the treasury and customise the
loan. They can measure the risk and do it accordingly”. The banker says home loan applicants must consider the external benchmarks to which the reset rate of interest will be pegged to. “If you’re taking a fixed loan, and it is reset after five or nine years, you must look at the reset peg and compare the loans on offer accordingly.”
The RBI website suggests, “Ask the lender to write down all the costs associated with the loan. Then ask if the bank will waive or reduce one or more of its fees or agree to a lower rate. Do make sure the bank is not agreeing to lower one fee while raising another or to lower the rate while raising the fees.”
Consumers must make it a point to go through the terms and conditions to look for any hidden charges and clauses, especially reset clauses, if any. If a consumer has blindly signed up on such a document with a clause, the banking ombudsman - the grievance redressal authority for banks - can do little to help. A banking ombudsman official, though, points to a recent case where a customer who had opted for a 7.5% fixed home loan three years ago, suddenly found that his loan was converted to floating at 12% rate. “The bank is at fault here, as there was no mention of any such clause in the loan agreement,” says the official. Consumers must watch out for such malpractice.

Property Rates in HYDERABAD September 27/2010

2010-11-27T00:10:00.000-08:00

Hyderabad’s real estate market has changed over a period of time. Old, palatial houses are giving way to new, posh, multi-storey apartments. The city is upgrading its infrastructure to accommodate new migrants. City’s new hi-tech airport at Shamshabad has been in the limelight ever since its launch.

Hyderabad was once famous only for its architecture, culture and pearls. Today it is popularly called Cyberabad, owing to remarkable development in the IT-ITES and BPO segment. This comprehensive chart will give a complete idea of the area and its existing trends in the market.
Last Updated: September 2010

CAPITAL VALUE

LOCALITY	Apartment Capital Value (Rs/sq ft)
	Jan-Mar’10 (%)	Sep’10
Central (18)	0 to 23	1800-8400
East (5)	0 to 19	2500-4400
North (9)	3 to 9	2100-4900
South (2)	0 to 10	2100-4000
West (4)	-3 to 30	2900-11000
Secunderabad (6)	0 to 9	1800-4600

PLOT CAPITAL VALUE (Rs/sq yard)

LOCALITY
	Jan-Mar’10 (%)	Sep’10
Central (18)	0 to 3	21000-61000
East (5)	2 to 12	15000-46000
North (9)	-4 to 21	12500-61000
South (2)	4 to 8	20500-61000
West (4)	-3 to 19	40000-100000
Secunderabad (6)	-3 to 6	15500-51000

APARTMENT 2BHK RENTAL VALUE (Rs/month)

LOCALITY
	Jan-Mar’10 (%)	Sep’10
Central (18)	-7 to 6	5500-23000
East (5)	0 to 10	6500-12000
North (9)	-3 to 14	5500-21000
South (2)	0 to 5	6500-21000
West (4)	0 to 20	7000-26000
Secunderabad (6)	0 to 3	6500-12500

Choosing Decent Localities In Hyderabad With Reasonable Realty Prices

2010-11-26T23:39:00.000-08:00

There has always been a good demand for affordable housing in Hyderabad. For many people Hyderabad is one of the preferred cities to get settled. Amidst growing demand during boom times, Hyderabad city became Greater Hyderabad from April 2007 and has grown from 175 sq. km to 650 sq. km and is divided into 5 Zones. The reality prices were exorbitant during those times, however later that showed some respite at least in some localities.

With the expansion of the city, many people are unable to figure out the best area to buy a house at affordable price and stay close to the city. Many of them are not aware of the prices in different zones of Hyderabad and are purchasing houses far away from the center of the city, often at higher prices. The information given below gives you an idea of the property pricing in Hyderabad and the detailed table may help you in decision making while purchasing a house.

Prices of properties in some interesting localities
North Zone: Double bedroom flats at Sainikpuri and Yapral are available at around Rs. 15 lakhs. At Balanagar, they will cost around Rs. 25 lakhs.

East Zone: A 2 bedroom flat at Mallapur costs around Rs. 15 lakhs only. It will cost around Rs. 20 lakhs at Bandlaguda or Uppal.

South Zone: A 2 bedroom flat at Dilsukhnagar costs around Rs. 20 lakhs. At L.B nagar, it would be bit more expensive at around Rs. 22 lakhs.

West Zone: Double bedroom flats at Chandanagar cost around Rs. 12 lakhs (around 900 sq. ft.). When it comes to Kukatpally and Miyapur, double bedroom flats range between Rs. 25 and Rs. 28 lakhs.

Expensive localities
According to the property prices listed in the outlook money recently, the most expensive area in the city is Begumpet. If you want to buy a double bedroom flat in Begumpet area, it would cost you around Rs. 48 lakhs of rupees. They are more costly than the flats at Kondapur, which cost around Rs. 40 lakhs.

Reasonable places to buy a flat
Flats at Mallapur are the most affordable as they cost under Rs. 20 lakhs and most importantly, they are not far away from the main city. One more option you can consider is Uppal. The distance between Begumpet and these areas is approximately 15 kms. Double bedroom flats at Ramanthapur are also affordable at Rs. 25 lakhs and are very close to the center of the city

Choosing Decent Localities In Hyderabad With Reasonable Realty Prices

2010-11-26T21:43:00.001-08:00

East Zone: A 2 bedroom flat at Mallapur costs around Rs. 15 lakhs only. It will cost around Rs. 20 lakhs at Bandlaguda or Uppal.

South Zone: A 2 bedroom flat at Dilsukhnagar costs around Rs. 20 lakhs. At L.B nagar, it would be bit more expensive at around Rs. 22 lakhs.

West Zone: Double bedroom flats at Chandanagar cost around Rs. 12 lakhs (around 900 sq. ft.). When it comes to Kukatpally and Miyapur, double bedroom flats range between Rs. 25 and Rs. 28 lakhs.

Successful Real Estate Investment

2010-11-26T13:42:00.001-08:00

To become a successful real estate investor there are 5 key areas that need to be mastered.

1) Becoming an expert at property acquisition
2) Understanding the rule of 7
3) Using Leverage to your advantage
4) Maintain strong cash flows
5) Tax Benefits

Whilst there are many other factors that need to be considered by the property investor these are 5 critical aspects to increase wealth.

1) When looking for the right property to purchase, DO NOT expect to find the perfect investment property within the first few days. Hours of sorting through properties will be required to find the best property to maximise returns. DO NOT expect to find the perfect property around the corner from you, or in the neighbourhood next door. You need to be flexible and look abroad, even interstate or overseas. When looking for an investment property you need to focus on return on investment.

In other-words, how much money will I make on what I have put in. For instance when I invest in property, I will measure the return as a percentage, if I put $10,000 down as a deposit, and make $10,000 on that in the first year that's a 100% return; not a bad result. How do you achieve these results and replicate them many times to create wealth? Read on to learn.

2) The rule of 7 is simple. It stats on average a properties value doubles every seven years. This has shown to be historically true over the last 50 years, so there is no reason why this shouldn't hold into the future. This underlying rule is what so many investors have relied upon to create wealth, many times over. Understand this and you will be on your way.

3) Leverage is a wonderful tool for the investor.

It allows us to place a small deposit on a property and reap the entire capital gains. For instance if I place a $20,000 deposit on a $200,000 house, and the house goes up 10% in the first year that's 100% profit. On average property has gone up 10% per annum so you would effectively make 100% every year on the property. Any rental income would be used to service the $180,000 debt. Now if you did this across 10 properties outlaying $200,000 you would be making 100% per annum. In comparison, if you outlaid the whole $200,000 on one property you would make only 10% profit per annum as the one property would only go up 10%. Sure you would make some rental income as well but this would be relatively insignificant.

Now once the property goes up in value you can then use that equity to purchase more properties, so then it just keeps building up like a pyramid creating more and more wealth. The problem is most people are afraid of debt and avoid it at all costs. Only be afraid of bad debt, which are loans secured by liabilities. Loans secured by appreciating assets are good debt.

4) Maintain a strong cash flow and ensure at all times you can service the debt with the rental income you are receiving. If you cannot do then move on to the next property on your search list.

5) Do not overlook the tax advantages, which can be used to improve your cash flows. Claim everything you can, expenses, repairs, loan costs, management costs, administration costs, and most importantly DEPRECIATION. If something is not claimed it is usually depreciation. This deduction is something you can claim without outlaying a cent (except for maybe a depreciation schedule report). If your investment property is fairly new you can add thousands to your bottom line. Do not forget this one.

Real estate investment is not tricky, it just requires a bit of research and a sound plan of attack. If you can master these 5 key points you will be well on your way to success. Good Luck

Investment property loans - Real Estate Investment Loans

2010-11-26T13:41:00.000-08:00

Venturing into business has a lot of advantages over the creation of long-term capital, but this revenue is not always guaranteed. Despite this, as a means to strengthen the contact with various types of property, plant may be a little unstable stock option. The tendency to be a safe place where investors to sink to bear on other resources. While its glory after the peak of the 1980s, rational Ventures decreased in activities that have a lot of wishes.

- Investment property loans

All Ventureshave the need for standards to evaluate the functions. Houses is not very dissimilar, but noted some gains financiers. A joint first in asset management is not something on which a person lives, but is to be true, That the purchase is to lease a small space is a nice way to save some money, I know you have time and space for a private purchase much can live permanently.

Typically, venture into real estate financier offers some advantages, includingCapital increase and the benefits of tax called with negative gearing. A lot of shareholders in the U.S. today to gain credit for creating the company.

- Investment property loans

Information, increase revenue is the money increases as the value of an asset created. Although there is no certainty that resources will be negotiable in value for the benefit of traditional activities had stable growth.

A key aspect of financial institutions and banks rated, while maintaining a loan remains"Negative gearing. Currency participate mainly through a loan of money at risk. This activity is aligned to each other dare someone who has bought included the use of a credit with an annual interest rate higher than the gross rental income. The benefits are tax law, both sides lined up and won, as the financier is able to remove the cost of ownership of property even ventured from his income. The biggest piece of this subtraction is the interest portion of the security interest.

RealEstate Investment United States is known as a profitable base of income for many people. Finances are needed to make the investment risk that can be easily reached by most people with real estate loans available and simple.

Moreover, there is a connection between something familiar and loans. To explain further real estate investment trusts (REITs) is a true adventure where most citizens confidence in their currencies presented innegotiable and suburban real estate trades. The trust owns and manages more marketable securities and security interests. The confidence of businesses in other types of buildings. It manifests the excellent quality of both equity and real estate

Real Estate Investing Tips & Secrets

2010-11-26T13:40:00.000-08:00

You are getting these free real estate investing tips because I know how difficult it is to find real helpful information on real estate investing. When I started my investing I was broke, frustrated, without a job, and very limited in my real estate investing knowledge. If only someone had pointed me down the right path early it would have saved me years of learning through the school of hard knocks.

* Real Estate Investing Tips #1

Only buy if it is immediately profitable. Look at it this way… If you can not buy the property today and sell it next week for a profit then it is not a deal! Anybody can pay too much for a property thinking they will be profitable over time but if you follow this simple rule it will keep you out of harms way. Just imagine you purchased 5 homes based on the premise that you would sell them in 5 years for a great profit because the market is appreciating (note: this is not investing it is speculating).

What happens if next week you or family members are diagnosed with cancer (or whatever) and you must move across the country and sell all 5 houses? Unless you followed the above rule you could lose your shirt. Be an investor, not a speculator.

* Real Estate Investing Tips #2

Invest in your real estate investing education. For the first 10 years as an investor I kept doing the same thing over and over that I learned in the first year. Later when I learned about wholesaling, buying subject to, and short sales my profits as a real estate investor skyrocketed. Had someone given me these real estate investing tips earlier it would have changed everything about how I invested. The book “Real Estate Magic 101 - How To Get Rich In Real Estate Even If You're Dead Broke!” will change your life and how you view real estate investing.

My real estate investing library is huge and I have purchased more courses than anybody else I know.

To this day I still attend 1-2 real estate investing seminars every year where I am looking to learn just one or two things that will help me make more with less effort.

* Real Estate Investing Tips #3

Study Wholesaling. Most investors and Realtors do not really believe you can purchase properties at 30-50% below market value. For most buying a property for $20,000 to $25,000 below market is a phenomenal deal. But when you learn how to buy wholesale at substantial discounts real estate investing takes on a whole new meaning. Even now you might be wondering if these types of deals really exist and I assure you they are real. But you have to learn how to find them because rarely are they brought to you by a Realtor. What you need is a great wholesaling system so you can find these deals on a consistent basis.

* Real Estate Investing Tips #4

You don't need cash or credit to be successful. When I started as a real estate investor I used my own cash and credit because I did not know about purchasing properties “subject to” their existing financing, wholesaling to other investors to generate cash, or that it was not difficult to get private or hard money to fund deals if you bought the properties at a large enough discount. Nobody told me there was another way and it took me years to discover it on my own. Because you've read these real estate investing tips you can not claim ignorance.

* Real Estate Investing Tips #5

Make Offers. All the studying, looking and analyzing real estate investment property is a complete waste of time if you are not making offers. If you want to be a real estate investor you have to buy property. If you want to buy property you have to make offers. It is as simple as that. If you are looking for a system that can automate your buying business and analyze properties, make offers, and print all of the necessary documents in less than 5 minutes check out this automated system.

* Real Estate Investing Tips #6

Accept responsibility for your success! I see people all the time who think they need to do just one more thing before they can be successful. They can't buy a house until they take another course, get a partner, set up an LLC, or have $1,000 in the bank. It's human nature to make excuses and procrastinate. You will be successful the minute you decide that you are going to do whatever it takes. There are only two things in life results and excuses!

* Real Estate Investing Tips #7

Make a commitment and keep it. Whether you are looking to buy your first investment property or you want to buy 2-3 properties per week your success will be determined by the regular actions you take. Committing as little as 1 hour per day or 4 hours every Saturday MAKES a huge difference in your success. Most people have plans to do something but never actually do it. Make your commitment to do something daily or weekly, then do it, and your success is guaranteed.

Why Invest in Real Estate?

2010-11-26T13:39:00.000-08:00

At the risk of sounding rather corny, real estate investment is a gift that keeps on giving. When compared to other types of investments, such as stocks, bonds, automobiles, and such, the security that real estate offers is unparalleled. As far as profitability, real estate outperforms any other investment in the long haul. It also offers an investor the opportunity to pay off the investment over a period of time via a variety of available financing strategies.

Generally, a buyer only needs to put twenty percent of the total purchase price as a down payment, and at times even less money is necessary. The rest of the money can be financed. After you factor in the other costs associated within the overall transaction (closing costs, maintenance expenses, property taxes), an investment is real estate is still considerably more of a secure business venture.

These costs are relatively small when compared to the overall value of the property.

Stocks, bonds, and other commodities have to be purchased outright. Therefore, a buyer is not given the option of supplementing his/her funds through financing options. These types of investments also run the risk of being subject to greater fluctuations in price due to the ever changing market economy.

There is no doubt about it that the real estate market is booming right now. According to the National Association of Realtors, there has never been a huge price drop on home sales since they began collecting information on existing home sales. Foreclosures and bank owned properties are at an all time high. Many skeptics tend to associate real estate investments as a gamble. Instead of viewing it as a potential risk or loss, take into account that the benefits outweigh the risk factors on an overall basis.

Consider the many upswings when compared to other types of investments, such as the previously mentioned stocks and bonds.

With real estate, an investor has the opportunity to benefit from a leveraged return on the equity of the property. He/she can tap into the equity of the home or property by borrowing against it. This money can be used for home improvements, paying off student loans, reducing credit card debt, or purchasing a new care. With this increase in borrowing power, the possibilities are endless.

Appreciation of value of propertyis another added bonus. Real estate appreciates in a couple of different ways. Supply and demand is always a factor. Market conditions typically create an upward pressure on housing prices. Another way to increase the value of a property is through home improvements and renovations. If properly maintained and the neighborhood is not deteriorating substantially, real estate will continue to appreciate in value. Even if a home was to go into foreclosure, it still has some value.

Investing in this market can be quite a lucrative endeavor in a variety of areas. Owning a home goes hand in hand with a certain social status. It is a positive component both on a personal and a financial level. Because it is such a highly leveraged asset, it generates high yielding returns and creates greater wealth. Through the incorporation of an amortization loan, where the balance of the loan is reduced with each payment, part of each payment is applied toward the interest, and the rest of the amount goes to the principal, an investor increases his/her wealth with each payment made. It is almost a forced savings program, where one can build up equity over the course of the loan. This amortization schedule when coupled with the steady price appreciation on the initial money put down increase profitability. The tax benefits and government subsidies for income generating assets such as real estate are additional perks available to an investor.

True, as with any investment opportunity, there is a level of risk involved, but real estate offers an investor the greater benefits. In addition to giving a buyer more leverage, real estate also offers more of a sense of security. The performance of real estate, in regard to price appreciation is not directly affected by the performance of the stocks and bonds markets. Variations in home prices are generally lower that those associated with stocks and bonds. Overall, the downswings in the real estate market are not as pronounced as they might be with other investments.

With so much to offer and the wealth of opportunities available in the market right now, why not take the plunge and invest. Buying and selling homes and properties has become a much easier and faster process than it has been in the past. Because the market for real estate has become more liquid and less costly, there are more opportunities than ever for the public at large. The falling mortgage rates and the real estate boom in the current economy should be taken advantage of. Investors that have previously been intimidated by this industry should realize that it is neither complicated nor expensive. It is all about having the right attitude.

Indian Real Estate on its Peak to Offer Profitable Investment

2010-11-26T13:37:00.001-08:00

it was 2005 when people thought twice to buy the commercial or residential property in India due to the high prices at constant rate. However this is not the scenario today, in 2010 has witnessed a gradual fall in the rates of the India properties. In spite of the fall in the indian property rates the real estate agents, property dealers, real estate consultants and other property investors still shows an equal demand to buy the property in India as it becomes the right time to invest wit an India property. India with 27 states and 7 union territories comprises all types of properties including shopping malls, showrooms, entertainment zones, commercial complexes, housing societies, apartments and many more. Different cities of india are known by their own unique infrastructure and architecture trends. Mumbai, Delhi, Hyderabad, Pune, Chennai, Noida, Gurgaon, Chandigarh, Thane, Nagpur, Bangalore, Lucknow, Faridabad, Ghaziabad are some of the favorable destinations for accommodating world class infrastructure to their resident.

All these states and cities of India are well known their prime location for doing business and investment purposes.

From previous few decades the rates and prices of Indian properties have been rising at constant rate. It makes the home loans providers on the top of the list where they can offer wide verities of home loans schemes and programs to the society. To buy the property in India one needs enough budgets with high amount of investment and commitment towards the property however for rental property in India it would not require so. Buying dream home in india means you must have knowledge about real estate glory in order to sign fair dealing. Real estate glory includes agreement letter, acceptance letter, allotment letter, approved plans, fixed rate of interest, sale deed, EMI and many more. Here in India you will number of home finance companies that offer detail information about how you can apply for the required home loan. Like ICIC, IDBI, AXIS, SBI, HDFC, PNB, LIC and many more are there well known for their quality and home door services.

Apart from home loans providers, here you will also find huge number of property dealers scattered in different cities and states of the nation providing all types of reliable and useful information to their interested clients. All these prove to be worth out while buying or selling property in India. There are many regions in India that have got an unexpected development in their infrastructure in previous few years attracts property dealers and other real estate agents to get investment with those regions of india. Hence, it is advisable to all people to concern with property dealer or real estate agents before entering into any property deal. Best and reliable property dealers are available in India for anyone interested to buy or sell properties in India. Apart from these, 123realesates bring you will all types of detail information about real estate in India including interior designers, architectures, buying first home, residential and commercial properties in india home finance companies and lots more. Therefore, be a part of an emerging sector for investment and business purposes
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