Propbazzar.in

Propbazzar.in Propbazaar.com is an online platform to conveniently connect BBC - Builders, Brokers and Customers. Visit : propbazazar.in to know more about our company.

In a fast growing world of intense urbanisation, our main aim is to connect people, who are looking for a smart investment in real estate to authentic builders and registered brokers.

17/04/2014



Recent study shows that India would be having about 600 million people living in urban India by the year 2031. This shows a direct 59% increase compared to the data in the year 2011.

It is the last hour for the developers to open their eyes to new ideas so as to tackle the problem of extensive urbanization and the increase in demand for urban homes. Some of the effective measures thought of till now are:

> Promoting rental housing concept.
> Ample amount of funding for projects.
> Incentives given for affordable property.
> Access to credit (for LIG/EWS categories).
> Using land creatively.
> Discouraging Rent Control Act.

Many architects in Delhi prefer vertical development and rental housing as well in order to boost sales of residential property.

Moreover, another feature which many specialists across the world has put forward is - India is in need of single-window clearance for properties to be built on time. This would save around 18-24 months of running around to get permission to go ahead with the construction. Properties have to be made available in short notice so that the demands of the growing urban populi can be met.

The nation needs a revolutionary shift also in terms of property designs, so that the rising standards of living can be realized. In fact, light and structure are the two most important factors in any construction, especially in residential ones.

16/04/2014



Cannot afford the new interest rates put up by your bank? Not to worry... nowadays, all you need to do is approach your bank and submit a letter stating a request asking for the transfer of the Home Loan in their bank to another one. The bank is supposed to give you a 'no objection certificate' (NOC) along with a statement which mentions the outstanding amount. You can take this certificate and the other details and submit it to the other bank where you want to transfer the loan. Once the transaction is done by the banks, the property documents under your name will be transferred in to the new bank. Moreover, the cheques which are post dated would be made non-eligible as you would be paying to the new bank.

But this shift has to be done before 2 years in to the home loan tenure. Sometimes the bank where your home loan is placed currently might come to terms of agreement over reduced interest rates if you talk of shifting to another bank in case they cannot negotiate. But, then again, the bank would not agree for a re-settlement on interest rates or shifting to another bank if you have not been regular with the current payments ofr the home loan.

Upon transferring, most banks do not ask for any waiver amounts, but some might. If that is the case, you can strongly oppose that by stating that RBI as well as NHB are clearly not in favour of such waivers. But a processing fee is required to be paid in the new bank for the transfer to happen, which usually does not come up above 5,000 INR.

So, why not repay your loan at a lower interest rate peacefully, than being under stress always?

15/04/2014



The latest scheme followed by developers in the Real Estate market to get good customers for their inventory is the Buyback Schemes. Although it has been noted that money-back schemes were put to use by developers since many years, that was limited only till the Commercial properties. Now they have started offering such schemes on Residential properties as well.

Similar to the already existing schemes in the commercial property sector, Buyback Schemes what the developers are offering to the customers. This is a good way of attracting customers. Especially, such schemes would also ensure that the developer indulges in the kinds of property whose monetary value would increase over the years.

Usually developers give the buyers the assurance that if the market price does not increase over a period of time, they would buy it back from the buyers at 30-35% higher amount of the original price, which is usually done within 18-36 months from the time of completion of the property in question. It is indeed a very good method to raise capital value in the realty sector in such a slow market.

Such schemes also lends assurance to the buyer that the project where he/she would invest in, is a profitable one.

14/04/2014

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Are you a part of a Cooperative Housing Society? Well, if you are, then you should be aware of the rights you have regarding the rules of the housing society. Any housing society has the right to make by-laws which is aimed at benefiting all the residents equally, but the society can never take away any person's fundamental rights. Hence, it is important you are well aware of the monthly maintenance bill that you pay to the society.

Some of the main components of the maintenance bill are:

* Common charges on electricity.
* Service charge.
* Parking area charge.
* Charges for non-occupancy.
* Premium insurance charges.
* Repayment for the installments of loan and interest amounts.
* Interest levied of default charges.
* Charges for maintenance and repair of lifts, etc.
* Tax on property.
* Water charges levied.
* Charges for sinking fund.

Most of the charges mentioned above are levied equally for all the residents, except a few. Some charges are based on the amount of area owned by the residents. And, the Property tax amount is decided upon the civic administration. One should be aware of that amount so that he/she is not cheated. The property tax is based on type of construction, usage of property and age of property used.

A very important law one should be aware of is that, there can be no prohibitions on the part of your housing society if you decide to keep pets. Charging respective residents for keeping a pet is illegal; the consumer court agrees with that as well.

13/04/2014



There is no greater joy than owning your dream home. But are you prepared for what comes with it?

The best way way to enjoy your new home properly is to manage your assets and funds, especially when you have a home loan to repay.

Firstly, one should identify the places where any investments you have made are giving you less returns compared to the loan refund rates. Usually such instances are seen with insurance benefit plans, Public Provident funds (PPF), Employee Provident Fund (EPF) and maybe some unit-linked insurance plans that you are a part of.

Ask yourself... Would you prefer putting your money in something when you are already paying a higher rate to the bank? It is far better option to terminate such investments with lesser returns and divert your funds towards closing the home loan. This way, the loan would also be over quickly.

Moreover, one should be careful while making the change - replacing an insurance plan with a plan which has higher cover rates. A useful tip is to save a considerable amount before applying for a loan. This would act as an insurance in case you miss some EMIs. Such back-up plans help in repaying the loan easily.

11/04/2014



Want to secure the future of your family? Investment in the right sector is the best way to achieve that! It is a way to improve the standard of your living and, store wealth indirectly for your family's future as well.

Did you know that has been declared as one of the fastest growing economies, and the Real Estate sector has to be credited a lot for this.

Commercial properties are the new trend in the country, basically because of the large amounts of profit associated with it. Then comes the office spaces. With the rise in population, we see a rise in the number of jobs as well. This has always been a positive factor with regard to office spaces.

And the residential properties are always on the hot list. After all, who would not want a budget home which is qualitative as well as elegant!

Contact us for any kinds of properties. We will not give you a chance to complain with our fast doorstep service!

10/04/2014



Recent market analysis indicates a sudden downfall in the prices of property in the major metro cities of the country. The reason are a few and, the profit can be yours!

Some are of the view that the high interest rate on loans is a major factor which has discouraged a certain class of buyers.

But at the same time, the increasing count of jobs will keep the market in this sector alive. As, new jobs means more people, more living space, as well as huge office spaces.

The most intriguing fact about the slowdown of real estate markets is the General Elections 2014. Market analysts say that once the elections are over, the give-and-take in this sector will take huge leaps. In fact, most developers have political contacts and hence, are involved in elections, directly or indirectly. If the candidates whom they favour win, it would mean a huge influx of profit for them.

So why not use this opportunity to indulge in a good investment? Pay less, but get the best!

There is not much time left. Hurry! Make the best of this Navaratra...

09/04/2014



Were you thinking of gifting someone close to you an expensive gift? Maybe a house or an apartment? Think twice! If the receivers of your gifts are not your blood relatives, the Tax Department will be after you in no time. That is because any cash or non-cash gifts exceeding 50,000 INR, given by a person to another who is not a blood relative, would be considered as the person's income. Hence, he would be liable to pay tax for that gift as well.

Want to know if there is a way out?

Well, there is... If you gift property which is movable to any of your blood/close relatives, you would be deemed to pay taxes. A list of close/blood relatives would include: Spouse, brother/sister of spouse, brother/sister of individual, brother/sister of person's parents, and any other relatives.

The only people whom you can gift such property without being completely charged for are your dependent major children, who is above 18 years of age. That way they would be taxed as well.

08/04/2014



With the rise in corruption surrounding land plots, it has become really tricky to obtain a plot of land in a hassle-free manner for yourself. The flourishing of fake land documents and unsolved land disputes have made everyone aware to be extra careful while thinking of making any land-related deals.

It is easy to get a land loan from registered banks. One may opt for a personal loan as well, but it has higher interest rates and, hence becomes costlier. But the main work is the buyer's. It is the duty of the buyer to check the following details of the land before taking any decisions:

* The Deed Title of the land should be registered under the name of the owner of the land, who is also the seller. Further, the seller should have all the rights to sell the property in question.

* The Encumbrance Certificate is the declaration that the land to be bought is free from any disputes. This document can be obtained from the sub-registrar's office (the deed is registered in the sub-registrar's office)

* The buyer should not forget to ask for the original Tax receipts and Bills so as to ensure that the dues for the land have been paid timely. This would help one avoid any cost related problems in the future.

After checking the necessary documents from the seller's end, the buyer should procure the Land Title deed under his/her name as soon as possible. It should be written by a document writer with a government license to do the needful. The payment receipt with stamp duty charges should be registered in the sub-registrar's office as well.

Then comes a few more steps...

The State Municipal Act makes it mandatory that a person who wishes to construct on a piece of land in the future, should obtain a sanction. It would be wise for a buyer to follow the same rule.

Once the construction activities start, the new owner should make every decision keeping the future costs in mind. Construction plan should be simple, and the materials should be within budget. Sometimes, when the prices of building materials fall in the market, one should purchase it in big amounts then itself, even if it might be used at a later point of time. This is cost-effective solution.

07/04/2014



Most people now are worried about taking home loans, because of the unpredictable economy. Moreover, some people might not like to play with unpredictable expenses, especially those who have just started with their careers or those whose earnings are not much.

Banks also see to such needs. They have come up with numerous plans of interest for home loans, called Hybrid Loans. Such loans are a combination of two types - fixed and floating. Usually the banks give you a time limit of around 3-5 years for the fixed interest rate, and the rest of the amount falls under under the category of floating rate of interest.

All a person has to do is sign separate loan agreements for the two different types - for the same loan. There are a few banks which might combine both and then, you have to sign just one agreement.

But one should always be careful and read the Terms and Conditions for the loan before signing on the papers. It is the duty of the bank officials to explain anything in the terms and conditions which one does not understand.

A few such Hybrid Home Loan schemes are:

* SBI - Flexi Home Loans (State Bank of India)
* Flexi - Home Loans (Bank of Baroda)
* 2 - in - 1 Home (HDFC Bank)
* Part fixed - Part floating loan (ICICI Bank)

Study the details in the picture. You will see that Indian Real Estate Sector has a lot of potential. And is therefore,...
06/04/2014



Study the details in the picture. You will see that Indian Real Estate Sector has a lot of potential. And is therefore, set to shine this year...

05/04/2014



It has been seen that due to macro-economic conditions, the past year 2013 has been really slow in terms of investment in Indian Real Estate sector. But even after the big difference from the figures of 2012, India managed to maintain 10th rank in the Asian-pacific region. Isn't this something to be prou of?

An earlier post in this page depicted how realty sector was a big contributor to the country's economy. The year 2013 also saw the 'Real Estate Regulatory Bill and Land Acquisition Bill being introduced in the Parliament. The year had been quite eventful.

After a bit of a rough phase, the economists say that Indian Realty sector is bound to flourish tremendously after the elections. Moreover, it has been predicted that there would be many home buyers. People would want to invest for a long term, and also would want to invest in home for self-use.

Residential, Office and Retail properties - all three are bound to bloom this year.

Demand would rise in all the types of properties. And there is a chance that the Government might announce some realty regulator. Devlopers can even launch Real Estate Investment Trusts (REITs).

This year is expected to see a lot of investment on the retail property front as well, mainly because of Multi-brand Retailers.

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