Ranbhir Kapoor beats Jindals in property deal

Bollywood heartthrob Ranbhir Kapoor has made the largest recorded transaction per square feet by paying a whopping Rs. 35 crore for a property in Mumbai. The apartment is located in Bandra, close to Krishna Raj, his parental home, and is possibly the highest recorded transaction in the suburbs with Rs 1.42 lakh per square foot.

The sprawling apartment is on the seventh floor of the 12-storey Vastu Pali Hill, with two parking slots, reports the Times of India.

According to market experts, film celebrities believe in property investment even if the markets are stagnated. The film industry always makes full payments by cheques only.

Earlier, biggies like Akshay Kumar, Aamir Khan, and Abhishek Bachchan have all bought luxury apartments in various projects in the city. But Ranbhir Kapoor has topped the Bollywood A-listers and even surpassed the Jindal family which purchased a 10,000 sq ft duplex for Rs. 1.60 per square foot in the impending Lodha Towers on Altamount Road.

Alia Bhatt wants to buy home

At just 23, Alia Bhatt already owns a property in Mumbai. She will soon leave her parents’ house and move into her own abode as she feels everyone needs their space.

“My dreams are very big! I want to buy a house for my mother in London as she loves that city,” Alia says.

Now that’s something for which Soni Razdan can surely be proud of her little kid!

While speaking to a Dubai based daily, Alia had expressed her inclination towards purchasing a house in Dubai as well. “It’s the greatest holiday spot for its proximity to Mumbai. You can go there, have a gala time and you are back home even before you realize!”

In her priorities of buying properties, Alia first wanted to get hold of a house in Mumbai, then in London and finally in Dubai. When asked whether she can afford so many houses, Alia chuckled, “abhi itna bhi paisa nahin kamaya hai. But by the time I’m 32, I think I’ll be able to fulfill my dream.”

Do you really own your land as per law?

Did you know that paperwork like tax receipts is not enough to prove you are the owner of a property? Yes, you’d be surprised to know that a transaction entered into between a buyer and seller of land is simply recorded at the registration and stamps duty office. However, it is only a record, and not a clear proof entitling the owner to his or her land. So, the formalities, as regards transfer papers and tax receipts aren’t legally binding documents.

In a landmark legislative move, the Rajasthan government recently passed the Urban Land (Certification of Titles) Bill or simply put the land titling Bill, which makes land and property acquisitions easier, transparent and safer. For the common man, this basically means that The Bill aims at giving the buyer of a property a clear title, which removes all doubts as to who owns the property. In other words, the state guarantees you that the land under your name is yours. You aren’t the ‘assumed’ owner.

If you are wondering what is the current law on land title, here’s a primer. When there is a dispute between two parties over land, the true owner of the land cannot make a rightful claim on the land if it is challenged. Therefore, one could end up losing the land, and chances are that the owner may not get the market rate for it.

So, how is the titling Bill different? The Bill proposes to ensure that the true owner will get the market price for the land. Also, any disputes over the land can be resolved by having a look at the guarantee title document.

To take a leaf out of the Rajasthan government’s positive move in this direction, other state governments need to begin by computerizing all property-related documents that are registered with the Registrar Offices and create a database to keep out any illegal claims from coming forward.

Image credits: DNA

If you want to buy property and you have been holding your property purchase decision from very long time with a hope that may be in 2016 the property prices will go down, so you may be wrong because real estate experts are saying that it is expected that property prices will not go down in the year 2016. Now real estate experts are suggesting that you should not wait anymore and you should start to buy property as soon as possible because in coming days property prices will go up because wages of labour, cost of construction and price of material would consistently go up over time.

According to Faizul Azwan Ridzuan, Chief Executive Officer and Founder of FAR Capital, “It is not expected that property prices will go down since we all know that housing is the basic need, but still its important to know that how to buy and when to invest in the property”. At the Press Conference of MyRumah Property Showcase, Faizul Azwan Ridzuan stated that I bought my first property at the age of 24 in RM140,00 and now the price of property is RM450,000. The more he added that the price of developing properties will always go up as per inflation. Faizul is the guy who is the writer of bestselling book on property investment and before being a real estate success story he was fulltime employee. However; in present, he prefer to share his experiences related to property investment decisions and he help the buyers by clearing their misconceptions about property decisions. He said government is not responsible for rising cost of properties because political uncertainty cannot be the factor.

About MyRumah Property Showcase:

These days property is becoming the viable investment option, so end customers should know the rules, regulations and strategies related to property investment process. Andaman Group and NST is glad that they are collaborating with each other and has arranged wide range of topics, which would be presented by the selected speakers with an aim to help the public in property investment decisions. Datuk Seri Vincent Tiew, Managing Director of Andaman Group, lauded the New Straits Times Press (M) Bhd Group for making the public aware of choices in property buying and investment. It could be the conventional and commercial property exhibition, if these showcase will had money making purposes because these property exhibitions are showcasing the hundreds of booths. If you think that you can find many exhibitions or seminars like that, so you are probably wrong. If you are the one who is looking for affordable property in Malaysia, so there are fee housing schemes such as; 1Malaysia People’s Housing Program and other affordable housing schemes where one can find affordable property in budget.

Date and Timings of MyRumah Property Showcase:

MyRumah Property Showcase which was organized by NSTP with the help of Andaman Group is non-commercially program which is targeting the first time buyers. This three day event will be held from Jan 8 to Jan 10 and it will be open from 10 am to 6 pm at the location Balai Berita, Bangsar, in Kuala Lumpur. If you want to visit MyRumah Property Showcase, so here admission is free and you can find ample of parking spots.

Buy dream home in india

Having a house of one’s own is on everybody’s wish list, but while you are at it, ensure that it is not a hurried decision. Buying a property is a huge investment and involves a great deal of financial planning and strategy. If you are thinking of purchasing that dream home for yourself in 2016, we’ll help you make a smart choice.

Experts in the real estate industry believe that the government initiatives for enhancing infrastructure announced in 2015 will give a boost to the sector and restore investor confidence. The realty segment will certainly record an increase in sales thereby aiding reduction in unsold inventories across regions.

Promotion of 100 Smart Cities, AMRUT (Atal Mission for Rejuvenation and Urban Transformation), Housing for All by 2022 and infrastructure development projects are some of the steps that will benefit Indian economy. Moreover, reforms like easing of FDI policy, the apparent implementation of the Real Estate Bill and and the introduction of REITs(real estate investment trust) is set to bring in the much-needed  transparency into the real estate sector thus improving  investor confidence.

“The year 2016 is likely to begin on a positive note on the back of these reforms and increased investor confidence. Overall, the next few years may witness building of some strategic partnerships with select developers, private equity investors also looking at liquidating assets. Consolidation through joint ventures in development would unlock the potential of major cities,” opines Sanjay Dutt, Managing Director, Cushman & Wakefield.

If you are looking to buy a property in 2016, you need to be very careful with legal documents of the shortlisted projects as there are innumerable enticing deals in the market. We advise you to not get tempted with freebies and discounts rather conduct a detailed scrutiny on the project, the builder type, locality, etc to list a few.

We have attempted to enumerate some of the cities which may give you a good return on investment in the next five years.

 Thane:

This neighbourhood of India’s commercial capital is emerging as an attractive region for investment in the Mumbai Metropolitan Region in 2015 because of abundant options available here. The rapid growth in infrastructure such as the proposed extension of Mumbai metro is making Thane city a sought after residential destination.  Thane west saw considerable movement due to good connectivity and proximity to important commercial and industrial areas in the vicinity.

In terms of affordable areas, the Kalyan and Dombivli region ruled the roost. With the selection of Kalyan and Dombivli as smart cities, significant commercial as well as residential activity in these areas is anticipated.

 Mumbai:

Madh–Marve has been branded as a destination with an expected price appreciation of 94 per cent, emerging as a potential asset class for the next five years. Ulwe, scores second, with a 70 per cent price appreciation by 2020, while Majiwada– Kasarvadavali may experience an appreciation of 59 per cent during the same time period.

Ghaziabad:

With significant real estate activity seen across three prominent markets including NH -24, Raj

Nagar Extension and Krishna Vihar, Gaziabad has emerged as the dark horse of NCR. The Centre’s nod for road widening of NH -24 towards Ghaziabad coupled with the location advantage of the highway and the direct link with Delhi, Noida and other areas of Ghaziabad have driven growth here. The realty prospects in 2016 in this region look promising.

South and East Bangalore:

Abundant new supply and affordable prices, high consumer demand and wide range of options across segments have boosted buyers’ interest in these areas of Karnataka. Good connectivity and reasonable property prices will drive growth in areas like Whitefield, Panathur, Electronic City Phase 1, Begur Road, Kanakpura Road and Bannerghatta Road in 2016.

Bhiwadi:

An emerging industrial and real estate hub bordering Gurgaon, Bhiwadi is well connected with highways such as NH-8 and NH-71B. It falls along the Delhi-Mumbai Industrial Corridor, making it a potential destination for property investment. The proposed Neemrana airport in the vicinity is also expected to boost demand in the real estate sector.

 Hyderabad:

Low ticket prices and buoyant office space activity has boosted the realty prospects in the city in recent times. Post clearing of the political clout and division of the state, Hyderabad has emerged as one of the promising realty markets of India.

Knight Frank ((based on its report on Residential Investment Advisory 2016, has identified select locations in major Indian cities which will give good returns – New Airport Road in Viman Nagar and  Vishrantwadi in Pune, Thanisandra and Panathur in Bangaluru, Golf Course Extension Road and New Gurgaon in Delhi-NCR and Puppalaguda– Narsingi cluster  in Hyderabad. According to JLL India, Noida and Greater Noida (NCR), Thane, Navi Mumbai – MMR, Whitefield in Bangalore, Viman Nagar and Nagar Road in Pune and Kochi Are among top investment options in 2016.

Buy Property in Mumbai

If you are looking for the best time to buy property and you are looking for the indicators in real estate market such as; price and sales, so you can say that in many cities property market could be head for a revival. As per the reports of RBI, the average prices of residential units have increased by 13.7 percent in 10 major cities of the country in the period of July to September 2015. If we will see the brokers sales reports, so we can easily say that sales in real estate market have got a boost too.

According to one of the most reputed developer, “We are going for the pre-launch of our project because buyers are lined up outside of the office to book a flat. And at this point of movement we are expecting some good sales and price in near future”. According to statement of Sanjay Dutt, MD of Cushman & Wakefield, India, “It doesn’t mean that in near future real estate market will witness a turnaround, but it is expected that the trend will sustain for the next 6 to 8 months and we can call it revival”. The more he added that there are contradictions in the data as there are many launches in real estate market where buyers and investors are frenzy to buy. In past few months office and commercial demand has picked up, which means city is creating new job opportunities and if it will sustain for next few months so there will be a turning point for the industry.

Why it’s good time to buy property?

According to real estate experts, if you are end user, so it’s good time to buy residential property. As per the statement of A S Sivaramakrishnan, Head of Residential Services at CBRE South Asia, “These days smart buyers are already scouting for a property, as these days realtors are still flexible with the demand of buyers”. In Mumbai there are more than 77,000 apartments are in the inventory, as per reports of JLL India and it is expected that it will take 11 to 12 quarters to clear off that inventory against a healthy expected cycle of 5 to 6 quarters, as per the statement of Ashwinder Raj Singh, CEO of Residential Services at JLL India. The more he added that there are chances that developers will not raise up their prices if the sales pick up because it can make buyers uncomfortable.

Apart from that there are some developers in city which are offering flexible payment option with attractive interest rates, but they are aiming to sell houses at little higher price than the rates prevailing in those regions. Ashutosh Limaye, Head of Research at JLL India, Don’t just go by the quoted rate of the flat because developers might offer little lower priced with some additional charges such as; club fee, and fee for other amenities. Apart from checking the track record¸ titles and approvals, its recommended to check the discounts, offers and schemes for different real estate developers before making any kind of purchase, as per the statement of Mudassir Zaidi, National Director of Residential Agency at Knight Frank.

If you are looking for the under-construction flats, so its recommended to take some time and evaluate the projects and ideally buyers should take 30 to 60 days to visit the site and check if the construction is happening as per schedule or not. If there is any kind of deficit, then better to stay away from that project. However; buyers can find the good deal for old flats, which was constructed 5 to 10 years ago. Apart from that if you are at real estate investor, so better to wait and watch for the trends and developments for next two to three quarters.

Image Credits : DNA

In past few years, Pune and Mumbai have seen aggressive growth in term of property prices since year 2012 by 49.97 percent and 73.91 percent respectively, whereas; the second most pricey real estate market was Delhi/NCR as it was observed that in Delhi/NCR the marginal price rise was 9.13 percent since year 2014. According to reports, it’s clear that if you want to rent or buy an apartment, so Mumbai and Delhi-NCR are among the most expensive cities, especially than when you are from middle class, whereas; Hyderabad and Ahmadabad are still most affordable city to buy or rent house as per the reports of ArthaYantra, a Financial Life Management Advisory Firm.

According to reports, since 2012, Mumbai witness 73.91 percent, Pune witness 49.97 percent and real estate market of Delhi-NCR has observed the marginal price rise of 9.13 percent, whereas; reports showed that Bengaluru witnessed a price rise of 9.76 percent since 2012 and Chennai was with 5.55 percent  marginal price rise. However; when it comes to Ahmedabad and Hyderabad so they have a negative growth in price and it was -20.70 percent and -10.46 percent respectively. In terms of property prices the growth since 2014, Mumbai again led the pack with 16.04 percent rise in home prices and it was followed by the Kolkata with 11.27 percent, Chennai with 8.78 percent and Delhi-NCR with 6.37 percent. Whereas; Hyderabad, Ahmedabad and Bengaluru was among the cities which witnessed a negative rise in home prices since last year and it was -0.42 percent, -4.46 percent and of -2.55 percent respectively.

According to report of ArthaYantra, Ahmedabad has seen a negative growth since 2012 in terms of property rents and due to that to placing it on the top most position in affordability-to-rent city. Whereas; Hyderabad has seen reasonable increase in the rental values, but drop in the property price, so it’s sensible to place it on the top most position in the list of cities where property prices are affordable.  However; Bengaluru is more favorable towards renting in comparison of buying property as it has seen a drop in property prices due to its demand in real estate industry. When it comes to affordability, so survey showing that someone with the annual income of Rs 25 lakh cannot afford residential property in Mumbai, however; same person with same annual income can buy property in Delhi/NCR. Buying property in the city like Chennai is only suitable for those people who have annual income of over Rs 20 lakh, however; if you have annual income of above Rs 17 lakh, so you can attempt to buy property in Pune city too.

In present, Bengaluru is one of the most affordable buy destinations for people who have the annual income of over Rs 15 lakh, and people with the annual income of over Rs 15 lakh can also buy property in Kolkata. But when it comes to buy property in the city like; Ahmedabad and Hyderabad, so they are among the cheapest cities and due to that people with the annual income of over Rs 9 lakh can buy residential property.

Dubai real estate investment

According to Dubai government’s data, Indians were the most prolific foreign investors in the first six months of 2015, with a total of 3,017 real estate transactions worth more than $2 billion.

“The typical Indian mind-set of solidifying assets in multiple arenas compliments the dynamics of Dubai real estate which offers a range of options to buyers as per their budget and preferences. Recent trends of purchasing properties in locations such as Downtown Dubai, Dubai Marina, Jumeirah Lake Towers and The Palm also suggest that the buyers are looking at profitable dividends in the shape of rents and resale value,” said Sunil Jaiswal, President, Sumansa Exhibitions. The company had organized Dubai Property expo in India from November 6-8. lower rates of property in Dubai in comparison to some metropolitan cities in India, interest in exploring foreign markets for a balanced real estate investment portfolio and the latest move by the Reserve Bank of India  permitting investors to send up to $2,50,000 freely overseas to buy property has positively impacted investor sentiment.

“hassle-free commuting to Dubai for both business and recreational requirements is one of the reasons why purchasing property there is convenient. Moreover, there is no tax on rental income; investors can make free and clear profit on rents also draws Indians to Dubai’s realty market,” Jaiswal added.