Identifying your Mr. Right Real Estate Developer
Suppose the brand raises itself to a level where the customer sees it as a market leader and becomes the first choice. In that case, there is surely a lot that has been invested in creating such credibility by investing in manufacturing and carrying a correct business approach, having a transparent thought process on delivery of the product, quality, and service.
How to Identify The Right Real Estate Developer
Suppose the brand raises itself to a level where the customer sees it as a market leader and becomes the first choice. In that case, there is surely a lot that has been invested in creating such credibility by investing in manufacturing and carrying a correct business approach, having a transparent thought process on delivery of the product, quality, and service.
The court has taken a great step in ordering the banks and financial institutions to audit books of developers and check the trail of the developer's contribution. Gone are the days when the developer will be able to do a project without his own contribution; “ OWN meaning OWN “ Ah ! at last AUDIT started in this industry which will help all and will bring back security to the customer's money.
Rise and Fall in Real Estate
There is neither dearth of intelligence nor dearth of passion. There is neither dearth of ambition nor dearth of commitment .“INDIA SURELY HAS the TALENT TO CREATE GLOBAL SUPER BRANDS“ WE JUST NEED TO DO IT RIGHT INDIAN ENTREPRENEURS can also build Brands like FORD, GE, UNILEVER, SONY, APPLE ……………. Brands that are not NATIONAL but GLOBAL, Brands which are TIMELESS. For India to become a Superpower we definitely need to have products and services which are Globally recognized.
Affordable Housing
Affordable housing was truly defined as housing for people whose income is below the median household income. Over the period of time the definition of affordable housing has been expanded for EWS, LIG, MIG I, and MIG II Under PMAY (Pradhan Mantri Awas Yojna) there is an interest subsidy available which aligns well with the Govt goal of Housing for all by 2022 100 projects under various stages of construction and another 150 projects ready to be launched this year (I hope there will be a proper demand and supply study
5 Things of Consideration before buying your 1st home
The home buying decision is one of the important decisions of life and for most, it is a MILESTONE achievement. A home purchase is a capital-intensive investment and hence it is all the more important that we take a thoughtful decision rather than just taking an emotional plunge Having sold more than 10,000 apartments in my real estate career I have seen many facets of home-buying decisions going awry hence for the benefit of “ YOU “ HOME BUYER I pen down checkpoints before you make a final decision
Different people express it differently -> some say it is one of the most celebrated human bonds between a man and women, some say it is one of the milestones in the journey of life without which the life is incomplete and the experience hollow, some classify marriage as a pious bond. Marriage truly binds body and soul and completes the need for companionship – togetherness.
Real Estate: Demand and Supply
The Tax benefits to affordable housing extended for projects which will be registered before March 2020, no notional rent on the second house, the benefit of rollover of capital gain tax increased from one house to two houses, tax on notional rent on unsold inventory to be levied after 2 years. Thank you, policymakers much needed relief! Economy: On a fast track and we see a vision of becoming a $ 10 trillion economy. Indian Real Estate to be valued at $180 Billion by 2020! Moreover, the middle class to expand substantially and migrate to cities. But behind the curtain, I wonder why do we see loads of unsold inventory, where do we go wrong and create pain in the industry.
Real Estate: Affordable Housing
Under PMAY (Pradhan Mantri Awas Yojna) there is an interest subsidy available which aligns well with the government goal of Housing for all by 2022 100 projects under various stages of construction and another 150 projects ready to be launched this year (I hope there will be a proper demand and supply study done before these are announced so that there is no excess inventory in one region and shortage in another – else it will create pain in the area where excess housing is launched and inflation where there is a shortage – FELLOW DEVELOPERS PLEASE DO YOUR STUDY BEFORE GOING TO MARKET) @HOME BUYER:
Law of Expanding Boundaries
The land is a measured asset and it is only so much available. The growth in population creates the need for raw land being shaped into residential, commercial, industrial, and other usages. In simple language, taking Delhi in our discussion, central Delhi expanded in all directions but the fastest regional growth happened in south Delhi, perhaps because of proximity, to the airport, better infrastructure, good hospitals and schools, and affordability at some point of time. This happened because central Delhi became extremely expensive.
The Brighter Side of Real Estate in Present Times
Scared, Worried, Alert, Skeptical: these are some of the emotions in each one’s mind when we talk of Investing in Real Estate today. The Buyer Worries whether his money is safe: will he get delivery? The Builder Worries How to increase Sale and Revenue – How to Finish the Ongoing Projects, How to identify the next best opportunity? The Channel Partner: Broker Worries will he get a commission of the work he has done? The Vendor Worries about his payments. The financial institution Worries whether their interest and capital are protected……..and so on. Is all but over in Real Estate….?
People’s Man
Thankfully, the new Regulations and Compliance like RERA have created a framework for transparent working. Every detail of the Project and the Developer, the finances, and the construction status are available online. The authority is on the watch all the time. “Customer can be at Peace”. “SUGGESTIONS FOR CUSTOMERS” Customers Must Follow The Following While Making A Purchase Decision (Residential Property)
Real Estate Painkiller
The dust will soon settle and the future of real estate is definitely bright. The important aspect of this whole story is that the wheel must keep moving. Meaning Sales should keep happening, the customer should keep making pending payments based on the stage of construction (monitor it now) and the developer should keep working on completing the project 24 x 7. While I did put in my views on how the Buyer should make a buying decision in the previous post, there are some suggestions for the developers on “How The Sales Can Be Increased” to generate healthy revenue. Sales are truly not alone a commerce subject as there is a lot of science involved. Conventional Selling is not yielding the numbers which the developer wants and hence the pain in the system is increasing.
Real Estate Investor Insight
Corporate/Developer/Businessmen and Individual The Real Estate Residential Sector has been stagnant for the last couple of years so far as pricing is concerned-the reasons are many and we have already talked about them. Today we wish to talk about Business cum Investment opportunity both for Corporates as well as for individual investors. I sense that one of the biggest real estate opportunities in India for the next couple of years is in the building and leasing of WAREHOUSES.
2 Suggestions for your home loan management in times of Corona Pandemic
The Corona Pandemic has caused a serious health hazard across the Globe and we Indians are no exceptions. The Corona Pandemic has led to an Economic Pandemic worldwide with countries staring into recession. Massive job losses, salary cuts, and visibly poor future growth prospects truly are scary. However, if the situation is wisely handled both in terms of health care and financial management then there is no reason that we will not triumph over these unprecedented situations.
Real Estate is not only about buying and selling: renting-leasing is a bigger business than a transactional business While leasing is more synonymous with commercial and retail real estate the return on residential real estate or ROI as it is called, helps us to understand the consumption behavior in the residential market We all hope and pray that the corona pandemic is contained as soon as is possible, we all are back to work and the economic cycle which has come to a virtual halt starts to move again.
It may be WISE to keep paying your EMIs
While we laud the RBI gesture for giving a moratorium of 3 months in paying EMIs (for a retail loan like home loan etc) in lieu of the corona pandemic which seems to be scary looks in eyes of job losses and salary cuts it may be WISE to keep paying your home loan EMIs for the aftereffect of the moratorium period is probably scarier and stressful If a 3-month moratorium in paying EMI is availed by the customer from the bank the bank will perhaps give 3 options to choose from: –
If you dig down into detail you will also be updated about the socio-economic devastation that the pandemic has caused and is causing with every passing day. We do not know how many people will directly or indirectly lose their lives because of the coronavirus nor do we know the extent of economic damage that will be induced into different industry segments which will compound the overall depression to the country’s economy. The reason being the decease is far from being contained forget it being over.   So, what do we do? Do we keep waiting for the disease to be contained so that we can measure the physical and economic damage and then formulate a strategy or the path to recovery? or we start taking calculated measures so as to keep the economy afloat.
How far is your ((HOME)) from the CITY: “0 Kms”
I am not travelling 20-30-40—–km away from the city to live – given a choice: I am sure none of us wants a HOME away from the city centre even if there is a paradise in making …. The city centre with all the hustle-bustle of life with malls and restaurants and recreation zones and hotels and much-needed hospitals and schools and takeaways and finally OUR WORK ZONES OUR OFFICES all are stationed in the city centre or CBD: Central Business District as it is globally labelled. We all want to live at a stone’s throw away distance from the city centre provided we can afford it. However, the cost constraints us to move away from the city centre and we start searching our roof at an affordable zone even if we have to travel distance.
RBI stimulus: An attempt to boost liquidity In Addition
The RBI has already injected about 4.75 Lac crore of liquidity in the system and banks are flush with funds. This is also visible from the fact that the banks are depositing close to 6.9 Lac crore of liquid money with RBI. The reduction of the reverse repo rate is a super step to motivate banks to lend to markets to fuel economy
Developers in India
TIME ADHERENCE whether it is in planning or executing the policy framework, zoning or setting up of physical and social infrastructure is of utmost importance. Minimum compliances and Single window clearance are a must for the Developer. The developer plays a major role in creating physical infrastructure, setting up the industry – business and finally social infrastructure of which housing is an essential element
3 “IDIOTic” Ingredients of Real Estate Industry
The land is a limited resource – grab it before it diminishes. True that the length and breadth of land on earth are measurable and will not change. Little did we realize that there is a possibility to go vertical where the sky is the limit.
The Policy makers are at the center of the real estate industry as the planning of development of a region is governed by them DEVELOPMENT OF A REGION Together with planning the most important factor is the adherence to timelines 1.Timely set up of physical infrastructure 2.Timely allotment of land for industrialization and business set up
Real Estate Best Practices for Financial Institutions
When it’s come to Real Estate, Financial institutions (FI) play the role of creating a pool of fund from investors – institutions, taking the responsibility of management of funds viz lending and receiving thereby creating wealth for the investor – institutions and in return charge a fee for this whole operation.
Every human need opens the door for research innovation which translates into product design. The product design moves from drawing board to a workshop where it takes real shape as a tangible usable product.
Corona Pandemic has left the world economy devastated. Most of the major economies around the globe are deep into recession. Millions have lost jobs. Salary cuts are visible across all industry segments. Forget incentives and raise survival has become an issue. The loss of human lives has left us nervous and we do not know...
Real Estate Industry the second largest employment generator (both directly and indirectly) is facing a tremendous slowdown because of a lack of demand and liquidity crisis. Developers who are trapped in the debt cycle are staring at closure. Large scale layoff and salary cuts in real estate are visible across the cross-section of the industry....
Dear Developer – Builder: YOU are YOUR OWN ENEMY
Real Estate Industry has been struggling for some time now starting from Demonetization in 2016. RERA, GST, NCLT, and other compliances have been brought in because of the large-scale defaults which have historically haunted the common man. It also proves a point that until there is a stick nobody wants to follow the right practice....
1. COLLABORATIVE PARTNERSHIPS 2. OUTSOURCING 3. CONSOLIDATION SERIES 1 COLLABORATIVE PARTNERSHIPS” Let us first – one and all – accept that “Real Estate Industry Is in Serious Trouble” Also, let us accept the fact that we are the ones who have to find a solution to our problems. The more we delay, the more we drown. Banks -financial...
In residential property side the Ready to move in properties was the flavour of the year in 2019. Warehousing, Co-working spaces, Co-living, Student housing were the new found developer interests throughout the year 2019. Residential Sales volume absorption was not very encouraging, it was below 5%. Affordable housing was the winner since it found support...
1.Today morning I read in the newspaper that developers are doing a “BARTER”with construction companies. In lieu of cash the developer is signing of inventory to the construction companies. I AM TRULY WORRIED 2. On July 19, 2019 the National Housing Bank in its circular has advised all banks not to fund developer on SUBVENTION payment...
NBFC Crisis in Real Estate Industry
Before the Budget the Finance Ministry personnel do rounds of meeting with various Industry heads to understand their needs for fueling growth both in terms of policy and in term of taxation and compliance Real Estate Industry is a very important contributor to our GDP both by virtue of Employment Generation and Driving Consumption Since...
I join the whole nation in congratulating Shri Narendra Modi Ji on emerging as the undisputed leader of our country INDIA : Salute to you Sir on such a massive mandate THE COUNTRY IS IN SAFE HANDS In June 2014 I along with my daughter travelled to Ahmedabad to understand what inspired people of India...
Property ka sahi dhaam kya?
To find out the correct price of the property it is very important to understand attribute that determine the price of YOUR HOME. ATTRIBUTES THAT DETERMINE THE PRICE OF THE PROPERTY: 1. CONSIDER LAND COST – BASED ON LOCATION: Land Cost contributes approximately 1/3rd towards the total cost. Location of the land plays an important...
Things To Keep In Mind Before Buying Your Dream Home
TOP 5 THINGS TO CONSIDER BEFORE BUYING A “ HOME “ PART (1) Home buying decision is one of the important decisions of life and for most it is a MILESTONE achievement. Home purchase is a capital-intensive investment and hence it is all the more important that we take a thoughtful decision rather than just...
RERA (Saral Bhasha Mein Apke Liye)
REAL ESTATE (Regulation & Development Act) , 2016 Govt has empowered the Real Estate Buyer (Residential or Commercial) with a very strong Regulatory Act namely “ RERA “ RERA has brought in confidence not only with real estate consumer but also within other stake holder community like Banks , Financial Institutions , Foreign Investors …...
Should You Buy Ready-To-Move Or Under Construction Apartment
The residential Real Estate Buyer seems to be haunted with “THE BIG QUESTION” Every home buyer is in a state of confusion to take a decision on buying a Ready To Move (RTM) in property v/s a property Under Construction (UC). There have been a host of default and delays in the last few years...
How do I cancel My Flat or Apartment Booking?
Question Haunting Real Estate Industry Post Lockdown! The Real Estate Industry has been under stress post demonetization in 2016. This coupled with GST, RERA, IBC, NCLT, and others, has created a compliance structure that the industry was not used to. Many developers shut shop in the new environment and many are struggling to exist. we...
Should I Buy A Flat Now Or Wait Until Coronavirus Pandemic ends?
You surely should … find my analysis below The question hounding every home buyer and more so in the current situation when people are struggling to save their Lives & Livelihoods in lieu of the corona pandemic which has brought the world on its knees. Let us first understand a simple fact that home buying...