Image credits : DNA

In Maharashtra, major land records reform is about to come as State Government of Maharashtra is set to do the geo-mapping and geo-referencing of urban properties and it will help the potential buyers and investors to keep themselves away from being cheated, reduce litigations and ease property transactions. Government will not map the properties on just papers of the property cards but also it will be in terms of geographical co-ordinates through which you can see the property with the help of Google maps. It will help the state governments to move to a clear and guaranteed title of land ownership in all over state.

The problem come in existence when government found that there is existence of multiple land registers such as; department of land registration, department of land records, municipal bodies and stamps whose data bases are not linked with each other. The land prices are shooting up in the sky and due to that most of the persons are trying to cheat the property buyers in transactions. However; the major drawback of the present system is that as a land owner all you need to provide the papers of land with presumptive title of the land without any guarantee of the ownership for that specific land. Whereas; the proposed new system will make the whole process easier for home buyers, small investors, large investors or industries by guaranteeing clear land title. With the help of new system it will be much easier to purchase a land without the help of experts or middleman because you will not need them to check the land records and land title as with the help of map you will be able to check flats or apartments title b yourself. According to Sambhajirao Kadu Patil, Settlement Commissioner and Director of Land Records, “This new system will reduce the cases in which land being sold to multiple parties. We will digitize and restructured all the property cards and they will be available on our website. We are doing mutations of land records, which will be available on our website, so if there will be any transaction at the sub-registrar’s office, it will be automatically recorded here”. The more he added that currently, there are 55 lakh property cards in all over Maharashtra.

According to Kadu Patil, “This is ultimate vision and concept to stop the cheaters by linking property records and municipal records in all the different departments. The more he added that currently we had a record of horizontal properties as well as records of vertical properties, which was constructed on them for the sales to other but they were not captured in those records, but these details are existed in the civic bodies for the purpose of assessment”. However; horizontal properties includes land and vertical properties include flats. Currently all the departments are working to bridge the gap and its big challenge, but we are working on that. The main concern is that whenever people purchase property or any other land, they just want to ensure the entry in the land records, but still there is no scientific geo-referencing of the site is available. And due to that now we are trying to capture the geographical co-ordinates of those properties such as; longitude and latitude on the property cards with an aim to tag them with universal co-ordinates, said one of the Senior Official from the department. The more he added that, We will examine and try to do this on the property cards because it will add the element of uniqueness in each and every property and property buyers or investors will be able to geo-reference as compared to the present system which is misleading enough to property buyers or investors.

According to officials, if property has not been measured properly, so its easy to sold them multiple parties or if plot has been sub-divided in different parts, so there is confusion on the sale and purchase. There will be no mapping of the individual plots or sub-divisions, until owner registered them because it can complicate the whole process. The geo-referencing of the property make it possible for individual apartments and flats to be mapped out with the details of transactions, sales and purchase.

Housing.com buys online discussion forum IREF

Recently, a real estate portal Housing.com buys online discussion forum IREF (Indian Real Estate Forum) with a aim to provide and improve the content which can help the real estate investors and home buyers to make choices which and retain or attract the first time buyers in the retail real estate market.

This Mumbai-based real estate portal is financially backed by Japan’s SoftBank and after the deal it is expected that Housing.com will pay Rs 8 crore to acquire Indian Real Estate Forum that have a base of more than 1.5 lakh active users. Apart from that the first two acquisitions of company is expected to close in next one to two months.

In December 2014, Housing.com has  received a funding of about $ 90 million or Rs 560 crore from Japan’s SoftBank and after that they has set apart a corpus of Rs 200 crore for acquisitions. According to the officials of Housing.com, after the acquisition IREF will function  independently under the charge of Ravish Naresh who is a cofounder at Housing.com.

The forum is well known real estate platform for its unbiased and transparent project information’s, developers information’s, localities information’s, agents or brokers information’s, and plots information’s. According to officials of Housing.com we are in the last stage to acquire PropEquity and the deal is of Rs. 80 crore, but executive of PropEquity are saying that they have declined the deal.

While coming to desired changes in IREF, it is expected that there will be few changes in the section of IREF as Housing.com is planning to answer each and every query related to the builders, projects, brokers and agents. Whereas;, the Housing.com also planning to buy PropEquity, so that it can attract more and more business users as it is well known fact that PropEquity is a real estate data it its most of the clients are PE developers,investors and financial services who love to spot the market trends to generate the insights about real estate market.

CREDAI-BANM 15th Property exhibition

Event Venue: - CIDCO Exhibition Centre, Vashi.

Date: - Dec. 12, 2014 to Dec. 15, 2014

CREDAI and BANM is going to organize the 15th Property Exhibition for the duration of Dec 12 to Dec 15 in the city Navi Mumbai. CREDAI stands for “The Confederation of Real Estate Developers’ Associations of India” and BANM stands for “Builders Association of Navi Mumbai”, which is the apex body of the organized real estate developers in Navi Mumbai. Whereas; CREDAI is the apex body for private real estate developers in India, which represents 8,800 developers through 20 states and 114 cities.
In present Mumbai is one stop destination for international standards real estate properties for commercial to residential properties. Mumbai is one of the global hot spot for foreign real estate developers and as well as national developers. As we all know that, property investors and buyers have become price and quality conscious and because of that they are searching for affordable property with good quality. In past few decades Indian real estate market is seen to be more investor-friendly as it is attracting the NRIs and foreign investors, which is the main reason for the boost in real estate market that drive demand to greater heights.
As the real estate sector witnessing a positive trend in Mumbai, so it is expected that record number of properties will be exhibit and sold in exhibition, as last year more than 350 properties were sold by the developers under the code of conduct adopted by the members of the CREDAI-BANM. The expo will feature the presence of real estate developers from across Mumbai Metropolitan Region (MMR) and country with the presence of housing finance segment with the organization like; LIC Housing Finance, Tata Capital Housing Finance Limited, HDFC, ICICI Bank, Kotak Mahindra Bank, L&T Finance, Bank of Baroda, Bank of India, Axis Bank, Union Bank of India, Reliance Capital and Canara Bank.
This expo is expected the presence of Bollywood and sports celebrities as in 2013 the same expo has witnessed presence of celebrities like Actor Sunil Shetty and Shilpa Shetty. In property expo there will be plethora of offers housing options for customers to take spot decisions. With the strong membership of more than 1800 leading Developers in Mumbai it is expected that expo will witness the huge success. This year it is expected that participation will be twice as compared to last year.
Life is all about taking the right decision at right time and this time the 15th Property Exhibition 2014 will kicks off at CIDCO Exhibition Centre, Vashi, so it’s great opportunity as it promises something more to everyone who is interested in real estate.

Times Property Expo, 2014

The Times Property Expo is going to provide excellent opportunities for the real estate companies and developers to exhibit the exceptional properties. This is the pivotal trade event for building related business, and it is the great opportunity to get the recognition by leading buyers, and investors in real estate market. The Times Property Expo 2014 will be held in BKC Ground in Mumbai for the duration of four days, ie 27 to 30 Nov. 2014.

The Times Property Expo 2014 Mumbai is the only event and most significant property trade show in India for some serious business in real estate market. Because of advertisement and publicity this expo will get the huge attention from high end buyers and it will be good platform to display high-end properties. In India, real estate sector is booming, and we all know that it is contributing the huge percentage in the nation’s economy. In present, all of the real estate properties providing the international standard and quality right from commercial properties to residential projects. Mumbai is the global hot spot for foreign real estate developers and standing next to the real estate market of London and New York. In India, property investors and buyers have become price and quality conscious and they are searching for the best property in most affordable price. From past few decades Indian real estate market is seen to be more investor-friendly as it is attracting the NRIs and foreign investors, which is the main reason for the boost in real estate market that drive demand to greater heights.

Over a time traditional legacy of architectural richness and drawing inspiration have leveled up the lifestyle experiences, now people are looking beyond mere buildings today. New real estate projects are showcasing their unique and iconic creations to enhance lifestyle experiences and end user experiences by offering comfort, luxury and style. And now Times Property Expo 2014, Mumbai is here to deliver all this at one stop platform. Times Property Expo 2014 is grand invite for the developers, investor’s and buyers. Here at BKC Ground Mumbai, a world class opportunity awaits the real estate developers to come together and develop the network with an elite clientele of individual, organizations and institutional investors, who appreciate quality and affordability to invest in their real estate projects, which deserve the best kind of buyers. Here buyers and investors will be able to make direct contact with builder or his authorized representative for any queries without losing time. And it will eliminate the middle man or agents, so that buyer can save their money (agent fee).

Life is all about taking the right decision at right time and The Times Property Expo 2014, which will kicks off at , BKC Ground Mumbai is the great opportunity and it promises something more to everyone who is interested in real estate.

Upcoming projects in Mumbai

Mumbai is the financial hub of country and driving the maximum economic growth in comparison of rest of the cities. From past many decades, Mumbai is attracting the investors and it is the main reason for the success of this commercial hub. Many premium real estate developers are launching the new projects in Mumbai, which includes commercial projects in Mumbai as well as residential projects. Some of the upcoming projects in Mumbai are; Ornate Synergy in Andheri West, Hubtown Jewell in Andheri West, Kabra Jay Vikas in Malad West, Geeta Platinum in Mira Road and more.

In Mumbai, commercial and residential both projects are in huge demands and to cater the needs of people premium developers are developing the new projects for affordable as well as for luxury market. upcoming projects in Mumbai are reflecting the positive trend in real estate market of Mumbai and it includes commercial projects in Mumbai and as well as residential projects. According to real estate developers if end user and investors are looking for new investment, so it’s good time to buy the property in Mumbai. Investing in new projects in Mumbai can bring the good returns in future because real estate market of Mumbai is the most favorite destination of investors, no matter they are from India of they are NRIs. Some developers such as; Manohar Vikas Group, Mohan Group, Poddar Group and Ankita Builders are constructing the premium as well as affordable projects in Mumbai.

Features of upcoming projects in Mumbai:

Mumbai is place, where the cost of residential as well as commercial project prices are not less than London and New York, in short we can say that Mumbai is the hottest property destination in the world. Mumbai always shows the latest trend of real estate sector, and even after that developers are willing to construct the affordable projects in Mumbai and now even Indian Government is taking the initiative to offer the affordable housing for the residents of India. New projects in Mumbai are available in different range according to the need of customer. The latest trend in real estate has made middle and upper middle level to come to together and make the investment in real estate sector to get the best outcome of their money. Thane, Navi Mumbai and central Mumbai is the favorite destination for who want to invest in commercial projects in Mumbai.

On the other side developers are playing with the decision of investors and end-users by launching the new lucrative schemes for commercial projects in Mumbai and upcoming projects in Mumbai, Even now to clear the old inventory of real estate projects developers are ready to negotiate and offer the gifts such as; free registration, car, AC, modular kitchen and more. New projects in Mumbai are the great option for new investment because it could bring the good ROI in future.

Fastest growing suburbs of Mumbai

Ambernath and Badlapur are the fastest growing suburbs of Mumbai, and this region is the part of Mumbai Metropolitan Region (MMR).. If you will purchase the property in Ambernath and property in Badlapur, so the biggest advantage is the local rail network and soon metro will be there for better connectivity. For professionals who belong from middle class it’s good to own a property in Ambernath and property in Badlapur because here property is affordable and as well as offer the better connectivity through rail and road network. As we all know that most of the people depends and use the rail network for daily traveling, so it’s good to be there. In Ambernath and Badlapur there are many private organizations, so you can still do the job here to save the time, it is expected that in future this region will provide the better employment opportunities.

Property in Badlapur and property in Ambernath, provides better amenities if you compare this region with other suburbs of Mumbai, here property are available in affordable price, so that even common man can buy it. Many real estate developers are launching the new projects in Ambernath and Badlapur because here property rates are low and people are ready to invest in this area as investment as well as end user. Property in Badlapur and property in Ambernath provide the option of 1BHK, 2BHK, 3BHK and 4BHK apartments and the price range starts from Rs 2, 500 to 3,500 per sq ft. For commercial property price are different and high in comparison of residential properties. Many banks, educational institutions and small and medium sized companies are opting the property in this region to start their own business. The price for commercial property starts from Rs 6,000 per sq ft to 7. 500 per sq ft. Ambernath and Badlapur are the region which is very well connected with the Mumbai, Panvel, Dombivli, Pune, Navi Mumbai and other areas.

Property in Badlapur and property in Ambernath provide a large number of under construction projects, where price range starts from Rs. 18 lakhs to Rs. 50 lakhs, so that even common man buys the property. In present most of the developers are planning to launch the low price projects to cater the demand of residential apartments in Mumbai and help to Indian government in Housing for all Campaign. Due to Housing for all Campaign Indian government is making some changes in their policies and RBI norms, so that any individual can easily get the home loan at low interest rates and own the property in their desired city. If you are investor so it’s good time to invest in the property in Badlapur and property in Ambernath because according to some real estate developers Ambernath and Badlapur area will see the rise in property price in next two years because currently many commercial and private companies are setting up their offices in this region.

Resource:

Property in Ambernath and property in Badlapur attract maximum demand for low budget apartments and developers like; Squarefeet Group, GBK Group, Sai Constructions, Mohan Group and Saraswati Infra are constructing low budget projects.

Ghodbunder a realty zone

Ghodbunder road is the most lucrative and well-established zone in Thane. It has maximum office supply absorption and maximum potential for capital appreciation and growth for investors with a 5-7 years investment horizon.

Today, this prime residential and commercial area is offering the likes of Mulund, Ghatkopar and even Andheri stiff competition for attracting office space investments. The stabilized residential and commercial environment in the area has instilled the confidence that is needed to revive Thane’s real estate fortunes. With the real estate picking up pace in Thane, Ghodbunder road are has emerged as destinations for IT and ITES players. Ghodbunder’s superior infrastructure, affordability and cosmopolitan ethos could have helped it score over many other areas which lack these attributes. However, the builders feel that the city is still caught in a slump caused by the slow official machinery. The bureaucratic machinery is still trying to sort out various issues, and proactive decision-making is visibly lacking.

Given the prolonged uncertainty over the last few years, it is hoped that with the installation of a new state government the official machinery would move faster and would usher a stable policy regime. It is evident that the kind of clarity that is needed to fully revive sentiments is still to come. However, it is not practical to expect overnight results -the revision of administrative machinery takes time. It makes no sense to harbour unrealistic expectations and come to any premature conclusions at this point.

On the plus side, the there are some serious officials who are very conversant and involved with the ground realities. Even the MMRDA and TMC are determined to make Ghodbunder road a crown jewel for Thane in terms of new initiatives and developments. This involves building confidence, providing stability – and, obviously, attracting investments. If this determination is followed through upon, it is not unlikely that Ghodbunder will once again offer direct competition to other key IT destinations in early 2015. The Thane Municipal Corporation’s budget is expected to provide more clarity on new initiatives and the status of many infrastructure related developments. Corporates currently invested in the real estate in the area are looking forward to this clarity, which will help them take decisions on their expansion plans and investments into the city over the coming months.

If you say that one would be able to buy a property with mere 2 Lakhs a couple of years back or say even months back, no one would be able to believe. This money is enough for a stock broker to submerge a person in tips of investment or a bank to probably lay some foundation stones but later on it could take ages for one to actually get their hands on the property.

Real estate investment trusts (REIT):

SEBI has issued some final guidelines for real estate investment trust which will help any investor having 2 Lakhs to get a piece in the real estate market. So, there are no more reasons to become a laughing stock in various Realtor’s offices.

These are similar to mutual funds, the only difference being, the money collected from investors goes into property rather than stock market and various bonds. There has been lot of brain storming being done on this trust but the current union budget seems to have taken a major hurdle out in the form of taxation of the REITs.

Scopes of REITs:

 Past few months have seen a substantial decline in the real estate market and there were lot of concerned raised by the people in this industry, through the new guidelines, SEBI has been able to put all these issues at rest. So this has come as a boon for both investors and the real estate industry as it will increase the cash flow in the drought hit market. As per the Chairman of JLL India, Mr. Anuj Puri, a cash flow of nearly Rs 60000 to Rs 70,000 crores can be expected through conversion of half of the Grade A office to REITs.

Market Entry Barrier:

When it comes to investment in Metropolitan or Tier 1 cities, the minimum investment could be upto- Lakhs and as now due to SEBI’s guidelines it has been considerably brought down to Rs 2 Lakhs, inviting more number of real estate investors in the market. Now, the minimum investment could be expected to be lowered to even Rs 1 Lakhs in some of the secondary markets.  As per the CEO of HDFC bank, Mr. Mistry, this has given a ray of hope even to the middle class income individuals as they can now hope to invest in real estate.

The only problem seems to be that the real estate has no space of can take lot space in form of investment in the portfolios. There are certain income groups who say that this might have come at the right time but it can negatively impact the real estate market in the form of high property price. The main idea is to resolve the financial issues faced by the developers and the banks funding them.

A government notification issued by Inspector General of Registration on LBT has ended all confusions over payment of one per cent Local Body Tax (LBT) by property buyers as stamp duty. The State government had increased stamp duty from April 1, 2013.

As per the notification, property buyers, whose sale agreements are registered before April 1, 2013 but who had their deeds executed after that date, will be benefited. If Stamp Duty has been paid on any sale agreement and registered before April 1, 2013, the buyer has to just pay Rs. 100/- as fees towards Stamp Duty. Such buyers need not pay any LBT on the purchase of the property. There was lot of apprehension among the buyers that they might have to pay LBT. The notification will bring relief to many property buyers who made sale agreements before April 1 2013.

The on-line payment of Stamp Duty and registration fees is proving beneficial as online payments will reduce frauds and ensure accountability of funds in government treasuries. Department of Registration and Stamps looks after registration of documents and collection of Stamp Duty through more than 470 sub-registrar offices across the State. More than 23 lakh documents were registered in 2011-12 under the Government Receipt Accounting System (GRAS). IGR is promoting on-line payments in place of physical payments, franking and E-secured bank and treasury receipt (ESBTR).

Younger home buyers tend to view their home as a strong investment, more so than older buyers who tend to view their homes as a match to their lifestyle. There are vast generational differences among recent home buyers and sellers. 87 percent of buyers age 33 and younger consider their home purchase a good financial investment compared to 74 percent of buyers 68 and older.

Home buyers can be categorized into four different generations:

1. Traditional home buyers fall under the age group of 67 – 90 years

2. Baby Boomers home buyers fall under the age group of 48 – 66 years

3. Generation X home buyers fall under the age group of 35 – 47 years

4. Generation Y home buyers fall under the age group of 17 – 34 years

Let us analyze the behavior of these generations of home buyers based on certain criteria.

Familiarity with Technology

Traditional home buyers are less familiar with technology, thus, they don’t use email facility much compared to the baby boomers that are more comfortable using emails, answering machines and phones for communication. Generation X home buyers are considered technically proficient while home buyers from generation Y have a knack for media.

Preferred Way of Communication

Rather than conversing face to face, traditional generation home buyers want mailed letters as a mode of communication, while the baby boomers normally prefer answering machine, phones and email. Generation X communicates via cell phones and email whereas home buyers of generation Y prefer the instant messaging options.

Personality Traits

Traditional generation home buyer can’t deal comfortably with home buyers from generation X or Y, while the baby boomers matured with prosperity. Generation X home buyers go through lots of resources before purchasing, they double check everything using technology. Generations Y is the impatient category, and is not get impressed by traditional marketing approaches.

Sales Process Guidelines

The Traditional Generation is more visual, detailed and rational in concluding sales process decisions. Baby boomers always want to actively participate in the decision making and prefer a personalized service. They set their expectations very high and also are highly committed to the quality. To Generation X time is the soul. For them a website is must on the side of the agent while quality is valued over quantity. The Generation Y simply wants to be valued.

Financial Planning Stage

While the traditional generations are retired, the baby boomers are close to the financial planning and retirement stage. Generation X home buyer works to live and they tend to place higher importance on commuting costs while generation Y is a total newcomer in the property market and requires financial guidance.