‘Modifying Economy’ – Impact On Real Estate Market After 500 And 1000 Notes’ Ban

It all started with an announcement of yesterday when Indian PM announced that Rs 500 and Rs 1000 rupee currency notes would be extracted from circulation at midnight to inhibit the corruption and counterfeit currency. Now being one of the best routes of generating market inflow the real estate sector is like to gawk home and land prices to crumple. Specifically it would shock the property market of the metro cities. In West Bengal experts are apprehending that the prices of new-built flats in Kolkata set to go down with the jettison of 500 and 1000 notes. Thus it could be a favorable time for the investors as housing prices could witness downward pressure.

The resale property market and small builders will have a blow with this revelation made by Indian PM. Unorganized builders and secondary property market will be massively hurt with this government’s decision to demonetize 500 and 1000 notes. In a recent interview DLF CEO Rajiv Talwar said: ‘’We are moving toward the cashless economy which is a sign of maturing economy. It’s a step in the right direction.’’ Talwar also added “The black money was mostly in land purchase. But in last 6-7 years, there has been no major land buying in this sector. Big builders and organized players are already using bank channel and they would gain from this decision. Unorganized players and the secondary market would be impacted.’’ Being asked on the realty market prospect Talwar mentioned that he with the downward pressure of market prices there would be noticeable boost in real estate demand sector.

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JLL India Country Head and Chairman Anuj Puri said: “It will not have any impact on the primary residential segment as the buyers in this sector are driven by mortgage. The impact will be felt in the secondary market and the unorganized developers community where there were still cash dealing.”
Expressing it as a very good move, Puri said: “This decision will help institutionalize the real estate sector.’’As per the market speculation this stride is likely to hit the real estate sector tough. Real estate sector has the massive transaction with black money; with this movement real estate is now likely to move towards improved transparency and fair deal operation. The move is expected moderate property prices, including land prices. For it’s a good time for the property investors with budget limitation and thereby forcing builders to sell the existing inventory property at lower prices. For the decades real people have been putting all their unaccounted money in real estate investment. The latest decision will make the builders’ lives under the axe. There can be halt or slow down in several project development process for restricted capital inflow as well.

“Property markets will see around 30% correction in prices. Even builders who claim that they accept only cheques will also be forced to reduce prices given the market conditions around them. Apart from big property markets, tier II and III cities will be worst affected,” said Yashwant Dalal, president of the Real Estate Agents Association of India. “Land prices will also move downward as these deals used to see at least 30% cash component.”

By LNN (Liyans News Network)

Agenda Of This Year’s NAR-India Convention

For people who are searching properties or even for the real estate investors Indian real estate market has always been a rising sector. Country’s economy is largely dependent on the real estate sale, conceivably after agriculture. Approx 5-6% GDP comes from real estate sector. The demand for commercial/residential real estate properties has been well regulated, accompanied and served by thousands of eminent real estate companies/ realtors/brokers of India.

Over the years real estate industry has improved with its quality of raw materials, supply process, funding and refined the business practices and tenures. The only prospect has been constantly in reverse is the transactional process. Consumers directly deal with brokers and realtors for their property investment; they provide the best counsel, truthful paperwork and perform the negotiation task on the behalf of the buyer. Thus NAR-India (National association of Realtors) suggests Indian real estate market needs to have a well-organized infrastructure to compete with the global standard of real estate market.

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Every year NAR-India arranges their annual conventions in order to bring an elevated and global practice standard with more clarity, moral code, liability in the real estate business of India. NAR-India is an independent organization which balances the interests of the realtors/brokers and domestic consumers on the other hand. NAR-India is a rational voice of realtors in India. This year also they have come up with another convention for betterment of Indian real estate industry in which the organization is expecting 1200 (approx) realtors form across the country and about 100 international realtors to be present. According to the chairman of NAR-India Mr. Ravi Varma this year’s convention will be of different objectives emphasizing on-

1. Offering multi-city solution through the members
2. Empowering them through upgraded education and technology and best practices across the world
3. Proper usage of technology to create more customers for themselves and create better services for the customers as well
4. Improving team management and communication skills
5. To have more international property professionals

Enter to www.liyans.com the leading property portal in Kolkata, to have the best professional guidance on your property buying/selling.

By LNN (Liyans News Network)

 

Advantages Of Online Property Search

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So selecting a whole new house is what bothering you for a long time. How far a person can run after news paper classifieds and agent penchant? Your residential property should be totally of your choice. Homebuyers it’s time to transform your property hunt. These days while people are buying almost everything from online, then why would your real estate search be sluggish? Searching property online for investment especially buying flats in Kolkata is a click away. Not only acquiring a new flat, you can sell or rent your old residential/commercial real estate items on any trusted property portal in Kolkata.

There are lists of rewards of online real estate property search. You don’t need to spend an entire day for searching your desirable property- this is the most convenient, time squeezing task for any homebuyer which means personally you won’t have to visit the sites of the property any more. Your search will return with relevant property images and every single detail. Working people who don’t have much time for searching an ideal residential property to settle in; this is the best way to look at the available properties around every corner of the city with the best uploaded information. This makes investment decision firm and quick.

Flexibility is another lucrative option which online property investment sites offer. Online property portal is the perfect place to have the exact range of properties according to your budget, preferred location and of course features and the accurate accommodation of your set apart residential apartments. Experts from the site will be always there from suggesting up to the final investment against your property selection. Also you can have a clear comparison in terms of price on two different properties with same price.

Most of online real estate portals have expert guidance to assist your property search. They have vast knowledge of current real estate market and the investment trend. Many of these sites are 24*7 open for residential property sale in Kolkata where you can purchase your dream home with fat discount. So buying residential property is no longer a brainwork.

Over the web real estate property portals are great help to every property buyer. At the same point of time it’s essential to choose the correct site to perform your entire property buying/selling/renting task. For choosing apt property portal always go by the well practiced sites and user reviews.

By LNN (Liyans News Network)

 

Indian Govt. Is Persuading Affordable Housing Curriculum Dynamically

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First half of 2016 has been the witness of initiation of affordable housing double in volume. There’s lot been happening to curtail the syndicate operation in the metros of India, majorly related to the supply of building materials of real estate. The average cement price during this February was Rs. 292/bag, after March it’s going to get a hike of at least 5-6% per bag. Whereas constant demand of affordable housing and Govt.’s avidity has lead to a near doubling of launches in this section in the first half of 2016. According to the Cushman & Wakefield report in comparison to the previous years the first half of this year has been revolutionary for the development of affordable housing, home for every economic class. The number of newly developed projects has increased by 100% on year to 17000 units across the prior property markets of Delhi, Mumbai, Pune, Bangalore, Kolkata, Chennai, Ahmadabad and Hyderabad during this period. The booming of affordable flats in Kolkata has greater potential than that of the other cities, for the low cost of living, expected by the real estate gurus.

Urbanization also plays an important role in this progression of demand. Accordingly the real estate market of India about to reform according to the current market situation and expectancy of the homebuyers. It’s an alluring fact for the suburban inhabitants and also middle income group people to get a chance to reside in a broad-based city. ‘Tata value homes’- an initiative from Tata Company has already presented more than 2500 units affordable housing in Mumbai, Talegaon, NCR, Bangalore and Chennai in the last 6 months. What could be more lucrative for the homebuyers when they are getting affordable homes in a city approved by highly acclaimed companies like Tata? Going by the reports- the augmentation of launching affordable flats in India are being endorsed by a steady and constant demand in the major cities like – Bangalore, Delhi NCR and Mumbai. This project throws light on a vital segment which has been overlooked for a long time and it’s now growing steadily due to an undying demand. This movement will surely give big blow not only on real estate sell but also on Indian economy. Demand for affordable homes has flourished after the Govt. has declared first time homebuyers supplementary inference on calculating tax liability.

As we all know this move is a part of HUPA’s ‘Housing for All by 2022’ vision which allows first-time homebuyers bonus deduction of Rs. 50000 paid for loan amount less than Rs. 35 lacs and for an asset value less than 50 lacs. As an outcome developers are receptive towards potential market demand. Therefore focusing on the quality and delivery time of the construction comes as an inevitable strategy from the builders’ corner. Tata Housing has been the bystander of the increment in home purchase and the organization is hopeful to see more of it in this coming festive season. In response to the recent development total launches augmented 17% from a year ago to 60,000 apartments, mid-ranged housing has 36,267 launches this year. The average ticket size for new launches was recorded at 31 lacs, 16% down from a year ago.

SourceLNN (Liyans News Network)

What is Property Development? How far we know about it?

Property has its duties as well as its rights ∞Thomas Drummond
Do you own a giant property that could be advanced for great possessions but you have clue about how to develop it? Developing property is an advisable venture. There are two types of property development -1. Residential Development 2. Commercial Development. For the past 10 years property development in India has been one of the darling resources land investors, because one can expect sure amount of greater return with every passing year. The task of buying land and making building on it or revamping old properties and turning them into a new one seems very straightforward task. It’s exactly the reverse undertaking. Being a naïve one should always opt for a professional property development company. There is range of scattering property development companies over the internet. Choosing one out of them on the basis of- A. Viability, B. Planning consent, C. Funding, D. Construction, E. Sales is that task which can be accomplish with the help of leading news papers and internet ranking.
Let’s talk about the two areas of property development in a nutshell
Residential Development: Residential property development hadn’t grown that popular ten years ago as it’s right now. With the end of every year there has been a huge acceleration in the buyers’ gallery. People are taking more interest in investing after developing new residential homes. It’s obvious that they have resources, which they are spinning on other probable residential ventures. Coming to the role of property development companies in India, they work with the proprietors of old buildings and properties at little cost. They invest their time and resources for throughout improvisation and transformation. Residential property developers are the best for converting old properties into a brand new apartment, thus they are contributing urban implementation in the society.
Commercial Development: There are profuse breakings for buying areas for official purpose. It’s rather a complicated task than the previous one discussed, as it involves huge amount of money. The property which is preferred can be owned by a bank, corporation or other individuals, in this scenario collaboration with a commercial property developer can turn out really fruitful. Investing in a mammoth, luxurious housing development/shopping center could be expected as part of commercial development with rolling maximum resource in minimum time. This engrosses making clear in your mind that every flat has a renter and each shop room has a charter. Choosing the correct development agency has the key role, always got for that company which has the capability to carry out your need well. An ideal commercial development firm should have experts who are dedicated in looking at your assets and advise the apt time to opt out for a new commercial purchase according to the current market investment ratio.
Few big reasons to associate with a reliable property development company to have much uncomplicated access in
1. Site analysis
2. Planning permission
3. Auto-connection with financial companies
4. Construction group
5. Surveyors
6. Legal criticality and
7. Real estate agents.