Govt. Forms Central Advisory Council for Active and Effective RERA Implementation

A 30-membered Central Advisory Council (CAC) has been set up by the central government of India for counselling on the implementation of the Real Estate (Regulation & Development) Act, 2016. The Minister of State for Housing and Urban Affairs will be the Chairperson of the council. Excepting the chairperson, the council will also have 8 members from the central ministry including Niti Aayog CEO, Secretaries of Ministry of Housing and Urban Affairs, Department of Revenue, Economic Affairs, Department of Industrial Policy and Promotion and Ministry of Corporate Affairs, showed a gazette notification from the Ministry of Housing and Urban Affairs.

This CAC will monitor whether homebuyers have been provided proper protection under the central Act with the proper implementation of RERA across the country. Chairpersons of Maharashtra, Gujarat, Madhya Pradesh, Assam and Karnataka RERA have already there in the council. Standing for the homebuyers’ there will be president of Forum for People’s Collective Efforts and Federation of Apartment Owners’ Association’s Chairman. The council also have representatives of real estate agents and construction workers. As per the notification the chairperson of the council will have the power to incorporate any individual or organization as a technical representative to take part in the meetings of the council.

Abhay Upadhyay, the President of Forum for People's Collective Efforts (FPCE) said, “Homebuyers and their interest are the focal point of RERA and its proper implementation would need constant feedback coming from them. We are thankful to the government of India for recognizing our efforts over the years in getting RERA enacted and thereby protecting the interest of homebuyers.”
There will state governments’ representation in the council as well. The five states that have been included in the council are- Uttar Pradesh, Haryana, Odisha, Tamil Nadu, and National Capital Territory of Delhi. Reportedly, the Managing Director of National Housing Bank (NHB) and CMD of Housing and Urban Development Council (HUDCO) will also be part of the council.

-LNN (Liyans News Network)- Unable to find a suitable property in Kolkata? Drop your property need under post your property requirement in Kolkata category. Currently, we are having 72000+ listing in Kolkata. Buy/Sell/Rent properties across 100+ cities in India. 

Real estate Hedge Funds And Their Functional Areas

Hedge fund is a pool of money that holds long and short positions for buying and selling equities, introduces arbitrage, trades bonds/currencies/convertible securities/commodities and offshoot products to generate returns at lower-risk. It’s a type of investment vehicle that accumulate capital from multiple sectors and invest the same amount into securities and other investment sectors. Hedge funds are structurally contrasting from mutual funds as these funds are tractable of most risk taking ability and their profit shares are not capped by the regulators. Hedge fund by and large invests in liquidity. Real estate has been added by the hedge fund managers to their list of non-traditional investments.  Real estate hedge funds generally own the asset of investment.

A few details about real estate hedge funding companies 
With more than $5 billion real estate assets and more than $27 billion in total assets Angelo, Gordon & Company is one of the largest real estate hedge funds. The company has records of investing in investment-grade underrated securities.

Blackacre Capital Management LLC is another leading company with different business strategy. The company doesn’t invest in debt securities, rather they purchase luxury hotels and same labelled projects with the objective of further development of these projects.

Cliffwood Partners LLC and The Praedium Group are two other hedge fund companies with separate business procedure. Till 2015, The Praedium Group is a new fund that has recorded profits from the divergences in indexes in the public and private equity real estate market. Cliffwood Partners, one of the earliest real estate hedge funds, has a long-short strategy in the real estate market.

How does a real estate hedge fund work?
Real estate hedge funds invest in the publicly-traded stocks of current real estate companies. Chiefly they invest in REITs (Real Estate Investment Trust). REITs exclusively invest in real estate and get tax exemption for this investment as well. The structure of REITs is quite similar to mutual funds in the sphere of realty. REITs are required to lay out 90% of the income, which is contingent on tax redemption for the REITs investors.

There is another of investment too which is totally different from investing in REITs. Hedge funds invest money through acquisition of the underrated assets at lower rates. These properties are purchased in anywhere on the earth, but for selling it has to maintain a fixed cause of disbursal, which is lack of liquidity on the seller part.

-LNN (Liyans News Network) - Visit Kolkata’s in trend property portal www.liyans.com to buy flats in Kolkata. From affordable to upper luxury enjoy an extensive showcase of real estate. Buy/Sell/Rent properties online with us.

Leading cement manufacturers are eyeing Binani Cement assets post blooper indication by NCLT

Short while ago, the National Company Law Tribunal, Kolkata made a revelation that an insolvency plea against the Binani Cement filed by the Bank of Baroda. Soon after this news broke, top domestic cement players are busy in finding the shortest route to reach out the in-demand assets of the Brij Binani Group Company, in order to shore up their pan-Indian market presence and bump into a prospective value buy, multiple sources related to uncompleted negotiations on the conditions of the anonymity.
On July 25th, the National Company Law Appellate Tribunal, Kolkata ordered “on the basis of documents filed by the financial creditor (Bank of Baroda) that (the) corporate debtor (Binani Cement) has committed default in making payment of Rs97.7 crore and therefore... the application for initiating corporate insolvency resolution process deserves to be admitted.”

Binani cement is one of the most popular domestic brands in the cement industry. Apart from Binani there are other big-shot cement companies currently ruling the market; they are- Ultratech Cement, Shree Cement, Nirma, Dalmia Bharat and JSW cement. All these companies have got through the lenders and intended preliminary interest in Binani Cements. There is a lot of interest in the company and all these are at premature phases. The complete deal structure will be disclosed once the potential suitors will preserve their strategy-based on the final settlement plan sanctioned by the interim resolution professional and the lenders.

Binani holds a good export potential for the company’s latency in the middle-east along with the sizable mine reserves at the location of their plant. As an outcome, the cost of the production appears to be lesser. Thus, the assets of Binani Cements are attractive to the other major market player. Worthwhile mentioning that the plant location in Rajasthan holds a good access to the market of Gujrat. This is supposed to be another valid reason behind the high interest in the assets. As per the company website, Binani has a global manufacturing capacity of 11.25 million tons per annum (mtpa), with a domestic capacity of 6.25 mtpa with an integrated part of India and China and it has its grinding units in Dubai.

Tracking the cement productivity of the country, in the last one and a half years, most of the cement deals have been clogged in the range of $100-$135 per tonne in terms of enterprise value and have caught the sales capacity ranging between 5 mtpa- 20mtpa. The capacity of usage in north and western regions lies between 70-80% is a healthful number, because pan-India the capacity utilization is lower than 70%. Experts say the reason behind the failure of Binani is affliction in management impotence in setting up a restructuring plan.

-LNN (Liyans News Network)- Avail post GST sale on buying luxury flats in Rajarhat area. Get flat 7.5% off on hi-end projects in Rajarhat and New Town area. If interested, visit www.liyans.com to explore multiple luring projects against your requirement. 

Renovation? Why not start from your kitchen?

Re modelling or renovation of property reflects the aesthetic sense of the owner. Renovation is nothing but transforming the exhibit of your property. It also means the reinvention of the used space by functionality. As kitchen is the heart of the home, not for the sake of a quality look, kitchen renovation incorporates increasing the space of activity and the space of movement as well. Kitchen is the only space that needs to be redesigned not only for the sake of visuals, but with essential safety measurement. Here we try to spawn the kitchen renovation easier by stating easy methods that you should take up while renovating your kitchen. 

Ensure what exactly what’s the purpose of your renovation?

The objection of the renovation should be clear to you, whether the aesthetic parameter or the practical matters to you the most. Make sure the intent of your renovation gets clearly decoded by the designer. It is the most basic and important part of the idea of the renovation. Communicate with the designer to set the goal clear before he puts his hand in the renovation. 

Set up more space around the appliances 

The design of your kitchen largely depends on the choice of your appliances, which means all your cooktop, fridge, microwave, dishwasher and dimensions hold vital role in the final layout design. But, when the layout is under prep, zoom into the fact that all these appliances can occupy right amount of space and avoid leaving unnecessary gaps around the appliances. While designing the lay out these three aspects should be equally speculated-

1. The measure of your movable space should be apt.

2. Placement of the sink should be by a corner.

3. Make sure there’s space for other people to get accommodated. 

Durability vs. Decor

All the space of storage should be proportionate and made of quality products. Because kitchen is the only space that can go wrong roughly. The decor should not overpower the necessity as well as the budget. So the renovation should be organized and planned within your budget. The sample or materials which are used for the renovation should come from a good manufacturing company. The design element and choice of colour of the products must have to be well in sync to bring out the desired effect of your remodelling purpose.

Decide what to and what not to compromise 

If you think usage of costly materials will tone down the future maintenance charges will be lesser, then you are certainly mistaken. Choices of materials determine the amount of energy and money you want spend on those in the coming days. Check out the full list of the materials and its pros and cons before your designer get his hands into designing. We recommend you to work with a professional team for remodelling your kitchen. 

-LNN (Liyans News Network) - To buy property in Kolkata there’s only one real estate advisory company which you can rely blindfolded. Visit us for buying/selling/renting your real estate items across the country. 

Safety Measures For Monsoon

Monsoons satisfy the thirst of summer. It refreshes panorama. But rain imports some unwelcomed germs in the households, which must be avoided to lead a healthy lifestyle. When rainwater revitalizes the nature, a little precaution in our daily lives is required from falling ill. To enjoy a healthy, happy monsoon people have to be a little watchful.

Here are few straightforward tips that you should follow during this season -

• Avoid clogging your local drains. Get rid of roadside open/fried food.
• Water gets contaminated in this season, which leads to fragile digestive system. Keep a healthy diet plan and try to consume filtered or boiled water.
• Clean the vegetable and non-veg items well before putting them on flame.
• Drink plenty of water. Keep away from preservative outside drinks. Try herbal tea for rejuvenation.
• Avoid walking in rain. A little skin touch with stagnant water can cause several skin problems.
• If anyhow your feet get wet, try to rinse them with fresh water as early as possible; don’t stay in wet socks and shoes.
• If you get drenched, don’t let it get dried under fan and Ac. Keep an extra pair of clothes at your workplace.
• Keep medical kit updated with medicines that will help you out in case of any emergency.
• Monsoon is the celebration time of mosquitoes. Make sure there is no place for stagnant water. Don’t go sleep without mosquito net and mosquito repellent.
• Take bath twice a day. If needed, use antibacterial soaps for better hygiene.
• Take vitamin C for boosting your immunity system.
• Monsoon brings eye infection too. If there is any itching sensation into your eyes, try not rub it with dirty hands. Consult an eye specialist instead.
• In case you are about to buy property in Kolkata, this is the right time to visit property sites to determine the quality of the construction and area infrastructure.
• Make your home shock-proof with a good quality fibre wiring system. Don’t touch switches in wet cloths.
• Check out the weather and traffic update before you start from your home.


-LNN (Liyans News Network)- To avail Kolkata’s most advance infrastructure choose flats in Rajarhat. Explore available property details on our online realty portal. Buy/Sell/Rent property online. 

The State RERA Protocol of West Bengal is Uncertain

RERA deadline expired on Monday, July 1. West Bengal is one of those states that haven’t notified RERA even after a 3 months’ time stretch from the day of rollout. Moreover, the state has left no clue to the consumers about the act enforcement.

In a recent interview West Bengal Housing Minister, Sovan Chatterjee, has said that even if the state was in a motion to bring the Real Estate (Regulation and Development) Act (RERA) on board, “I am unable to tell, by when we will be able to enforce RERA.” This revelation had stirred up the end-users, as more or less they have perceived the fact that the way of implementation of RERA is truly unclear. The situation got even sceptical, when the officials of real estate industry body CREDAI Bengal stated that there was no meeting related to RERA enforcement with the state government has been held so far.

Right now the buyers must be thinking come what it may, despite the slow implementation RERA should come in frame with true law and spirit to ensure transparent realty investment. The highest parliamentary body – The Committee on Subordinate Legislation (COSL) of the Lok Sabha, had reportedly undertaken the time-consuming progress in the implementation of the Act along with the states’ attempts of skewing the provisions. State level dilution of RERA has turned into a bad headache for the central housing ministry.
“There is concern, about the treatment of ongoing projects under the new law. Not impossible but hard to implement,” CREDAI Bengal president, Nandu Belani said. Emami Infrastructure director and CFO Girja Choudhary, corroborating the problems faced by builders, said that there was need for relaxation, vis-à-vis ongoing projects. “We will highlight the same before the Bengal government,” added Belani.

“Along with the buyers realty lenders are also seeking accuracy and security from RERA. Realty Investment is known for long-term capital gain, but above all what should matter the most behind the implementation of the act is ‘buyers’ safety’. Ready projects with occupancy certificates might cost a bit high, but consumers’ are ready to bear it for the sake of better safety. Meanwhile, GST has brought all ready-to-move projects 12% tax slab. This is the ideal scope for the builders and a realtors to push the residential property sale in Kolkata as well as reduce the volume of unsold inventories,’’-said Mr. Mahesh Somani, West Bengal RERA and realty expert.

-LNN (Liyans News Network)

India To Contribute About 35% Of Total Office Space Absorption In APAC in 2017

A Cushman and Wakefield report revealed that by the end of 2017, India to measure out nearly 35% of the total absorption in office places among the Asia Pacific countries which is expected to be continued over the upcoming couple of years.
On which Ansul Jain, Managing Director, India, Cushman and Wakefield said, -“Backed by various policy reforms and government initiatives, the country today offers investors a more transparent and accountable business and investor-friendly environment.”
Jain also added,-“The ongoing technological changes and growth of the technology profession will continue to create demand for space, particularly in markets like Bengaluru, Manila, Hyderabad and Shenzhen.”

Sources revealed that where the major volume of demand is expected to be derived from IT-BPM sector, shockingly replaced by e-commerce, BFSI, Consulting agencies and health care sector. During this forecasted period of growth these are the industries showing promising dexterity to lead and accelerate the growth.
The report says that the commercial property demand in India remained stable during the first quarter of 2017, despite the foreseen geo-political and industrial catastrophe. The report also indicated, “The banking, financial services and insurance (BFSI) sector was the biggest driver of leasing activity in Asia Pacific. Prominent financial institutions have secured major leases over 50,000 sq ft in India, Hong Kong and Australia."

There is a forecast, where it’s stated that Asia pacific countries could set a benchmark in leasing office spaces in 2017. Where India will be solely contributing annual average of 32-35 per cent absorption during this forecast period. India is also to observe an office space supply of 125 msf between 2017-2019, since more banks are planning to expand and develop their corporate banking and wealth management business. The BFSI sector is expected to account for 25%-30% of fresh leases in the upcoming 2-3 years.

-LNN (Liyans News Network)-Buy luxury property in north Kolkata under our professional guidance. Visit our online property portal for advertise your property for free. Connect to a wide range of genuine buyers on this global interactive platform. Enhance the network of your property sale.

Let’s Take a Tour Around Major Policy Changes that Indian Realty Market Encountered Post Independence

Industrial development doesn’t get built in a day. From the inception to visible growth of industry bank on governmental intervene and individual business policies. An existing policy develops with extract of the previous one with some additional dressing. Indian economical policies are decided on the viewpoint of market conditions, geographical circumstances, socio-economic changes in population and other major and minor principles of a particular time period.

Real estate sector is globally one of the major revenue generating sectors when it comes to the contribution to the economy. Alike the other countries Indian real estate is not that on the button. Yet, it contributes 3-5% in national GDP; hence, the sector is largely blamed for lack of accountability.  Here we will talk about few major policy changes and its impact on Indian realty post independence.
India is about to complete 7 decades of its independence and it’s worthwhile to recall those policies that have had a resilient impact in Indian real estate.

1. Chandigarh and Gandhinagar were the first and second capital cities that came into picture in 1952 and 1960 respectively. Planning of the new cities had been started to be materialized.

2. The Maharashtra Regional and Town Planning Act, 1966, first integrated the practice of development plans and town planning. The planning commission then stretched it further towards district development and issued its first guidelines for district planning in 1969.

3. To tone down increasing land prices in urban areas and to provide low income housing, The Urban Land (Ceiling and Regulation) Act was enacted in 1976, which totally failed to serve its purpose and ended up worsening the availability of land for social infrastructure and social housing apart from states like Kerala and West Bengal.

4. Housing and Urban Development Company was the first real estate correlated government institution developed in 1970. Thereafter City and Industrial Development Corporation in 1971, the Mumbai Metropolitan Region Development Authority in 1975, National Housing Bank in 1988, and the Housing Development Finance Corporation in 1994 were set up one by one to shape up and boost the real estate industry.

5. In 1991, when Indian market was on the way to recover its rising fiscal deficits, some monopolizing reformation occurred, which seeded the modernization of economy. Creating job opportunities, setting up big market for the consumers, access to multiple products and services- these were some revolutionary influx which paved the way for big MNCs arrival in Indian market. World-class office spaces started sprouting with this development.

6. The phase of 1994-99 was the imprint of India’s first property cycle as the market. NRI and Foreign capitals started delving into Indian realty which hiked the property prices up. The market took south post 1995 due to fundamental disorganization. The misfortune continued with the approach of the Asian Financial Crisis in 1997-98. Foreign capital just got vanished from the market overnight.

7. In 1992, the concept of commercialization of airspace above transit routes was introduced at Vashi station. Sanpada, Juinagar, Nerul and CBD Belapur – on the same railway line followed the track of Vashi. Seawoods-Darave, the latest transformation in 2017 railway station was a huge hit.

8. India got its recognition in the global software business. The inception of Y2K turned out to be fruitful for Indian realty business. IT sectors and foreign companies started setting up offices in cities like Hyderabad and Bengaluru during this period which advanced residential and commercial requirement.

9. Foreign Direct Investment was allowed to invest in real estate in 2005, which led to complete transformation in business practises and product offering in real estate.

10. India’s first retail mall had been introduced in Chennai-‘Spencer Plaza’ in the early 2000.

11. With the governmental sanction of reconstruction and remodelling brownfield and Greenfield
airports through public-private partnership, the idea of airport cities and airport precinct real estate was came in fact.

12. The crash of Lehman Brothers in 2008, followed by sub-prime crisis led investors questioning the security of investment in asset classes. Global financial slowdown had a big blow in commercial real estate market and more or less the residential market too. But Indian residential market recovered within no time.

13. Implementation of RERA- the Real Estate Regulation (and Development) Act in Mat 1, 2017 has been considered as a major reformation of the real estate sector. With an objective of securing the buyers rights RERA will be the watchdog of entire real estate transactions of the country. RERA will empower homebuyers with more confident in terms of real estate investments. Small-scale developers will be non-existent as continuation of business under RERA purview will be a bit too much for them.

14. ‘Housing for all by 2022’- an ambitious project of central government is another scoop aiming to boost Indian real estate sale. Providing home for lower and medium income group at moderate price and prohibition of illegal land acquisition are backing this scheme. India is set to provide 20 million homes by 2022 to the economically weaker section of the country.

15. The Real Estate Investment Trusts will allow the investors of every budget chipping in prime commercial real estate market. REIT was first introduced in 2014.  It will open a new sky for the development of modern commercial spaces as well as rising rentals across their micro markets.

-Liyans News Network- Buy/Sell/Rent real estate units online. Use ‘post your property requirement in Kolkata’ to send your requirement to us. We will be attended by our market experts with the best alternative at best price.

Thinking of Buying Luxury Flats in Delhi? Here Are Some Basic Guidelines

A new property buying with needed luxury amenities in Delhi is no longer a cheap deal in today’s time. Thus, before exploring high-road apartments and the list of amenities that can tranquilize your lifestyle, you need to fix your budget and move ahead to purchase one. Always keep in mind stretching budget might get you a better living in capital, but this might put your future savings at risk at the same point of time. So, don’t let dim your rainy day fund, just to showcase your standard of living. Here are some areas, where you might get tentatively lesser priced apartments in Delhi location.  You might get some tricks and tips throughout this write-up and case your budget accordingly.

Things should not show about the sq ft area. Other costs such as- stamp duty, parking, floor rise, registration, will appear as add-ons. So these things you should know well, before you enter into the big blue marble. So, before fall into the loop of best negotiable price, being showcased by the leading online property portals, you should know the hidden costs that would likely to mount up your budget. First things first, search property online, compare their price and reviews before speaking to a realtor. Take outright information of the locality, before visiting the site. Buyers should be well aware of the due diligence on builder’s previous track record and the quality of the construction he had delivered. If you have limited budget, buying a slightly older property can too serve your purpose.

Delhi NCR is cheaper than that of the other prime real estate locations of Delhi. Capital location has barely any place left for budget apartments. Keeping that projected view mortal, NCR had peripheral areas of Delhi is containing some healthy array in budget lifestyle apartments. These apartments can prove to be better choice of investment, if you continue focusing on three stakes in a clasp.

1. Budget. 
2. Location and 
3. Amenities.

 By far you must have observed the aspect ‘amenities’ we kept at the last in the list. So, this is how you should move ahead in property investing. South and central Delhi are categorized as posh locations. Finding most lavish apartments in this location can be easily done.

Here are some expensive areas of Delhi, could be chosen for upscale living such as- Greater Kailash, Paschim Vihar, Vasant Vihar, Saket, Aurangzeb Road, Defence Colony and Hauz Khas. These areas hem in most popular healthcare institutions, academic institutions, business towers and eminent historical architectures. Delhi is the place came in limelight of late due to its resale residential market and emerging property investment location NCR. Thus, property investment should be planned, which ever place you select to buy residential property one thing is assured that you will get numerous lifestyle facilities.

-LNN (Liyans News Network)- Buy/Sell/Rent property online. To buy affordable flats in Kolkata visit the most trusted online real estate portal of Kolkata. Connect with us for availing the best looking apartments within your budget.

Aadhar-Based Property Authentication a Rat’s Nest

In a tussle with benami deals, unaccounted income and illegitimate land absorption Indian government is planning to mandate Aadhar-based authentication of real estate document registration. Sources revealed that Aadhar recognition is must for every citizen and every valid transaction in India. Earlier Supreme Court declared that with the implementation of Aadhaar, the government had saved over Rs 50,000 crore on various schemes to help the economically weaker section of the country as well as pensioners. Aadhar linking is mandatory for allotment of PAN cards and filing IT returns. Now, property authentication appears to be top of the table of governmental agenda.

For immovable property validation central government necessitates few documents such as- agreement of sale and power of attorney for electronic registration purpose. Thence, electronic registration process is also in the pipeline. Sections 32 and 32A of the Registration Act, 1908 will be amended by the government to provide legal patronage to Aadhaar-based verification of documents. A draft of the amendments will be sent to the Union Cabinet for sanction, followed by the Parliament. Still the government hasn’t come out with any official statement regarding this matter.

For property registration Aadhar authentication process is a must undergo. Apart from downsizing the benami property consumption, housing department will ensure foolproof property titles for the buyers. State governments and Union Territories have been previously directed by the Department of Land Resources of the Rural Development Ministry to notify rules upholding “consent-based Aadhaar authentication” during the time of property registration.

Demonetization and the Benami Transactions (Prohibition) Amended Act, 2016, are two major union governmental policies just to restrict unaccounted black money inflow to real estate sector. Not only for property title verification, Aadhaar card holds a significant role in future property tax payment. Yet, digitization of land records has already been done in several states like Andhra Pradesh, Telangana, Haryana, Uttar Pradesh, Maharashtra, Chhattisgarh and Maharashtra. The linking of Aadhar card with land records will soon be followed after that.
“Until the government hasn’t come up with an official statement or press release we shouldn’t indulge these speculations. But this rollout will help government to track illegal properties and their title holders to a great extent,’’- said Mr. Bipin Tripathi, a resident of a renowned housing apartment in south Kolkata.
Asking about the development of affordable flats in Kolkata Mr. Tripathi also said, “There is merely any clamour regarding urban budget housing development under PMAY in Kolkata. But getting a 2 bhk budget flat within 25-28 lacs in Kolkata is not a big deal any day.”

-LNN (Liyans News Network) 

RERA To Curb Activities of Real Estate Agents

State Government of Karnataka has submitted state RERA regulation. Over the preceding years property price has been blown up and set out of mass reach in cities like Begaluru, Pune, Delhi and Mumbai. This occasion had given birth of too many brokers with trivial knowledge of real estate, who used to operate quite smoothly and blossomed in their respective business as well. Now, their business might undergo some serious setback post RERA age. These small time brokers and developers are the sole causes of ill-portrayal of Indian real estate to the global real estate.

The state RERA rules highlights that, not only projects, it’s also mandatory for the realtors to get registered under RERA authority, in three months starting from July 10, 2017. Defaulters will be punished under state RERA regime. They will have to comply with the governmental ruling and intervene to up and continue their realty practice. Earlier, they used to be indispensible especially when the requirements are up for residential ones. They used to draw high commissions and overcharge the potential homebuyers.

Registration with the regulator is obligatory because only registered real estate agents can only survive their business practice. In this way they would be accountable for their business activities. RERA will publish registered and rejected application on its website, as part of the rule.

RERA will set the realty business free from fraudulence 

Some industry experts say that Karnataka RERA rules aim to protect buyers’ rights on large scale and retrieve more transparency into real estate industry. It’s calculated that about 70% of the brokerage firms will close down their business or will merge with relatively large real estate companies with experience of 2-3 years in realty practice.  Most of the agents are turning away registration, as they are finding RERA rules hard-wearing. It’s because of the market slowdown these agents ruled the business. The penal factor of RERA has made the situation even tough. RERA will clog all possible easy ways for the brokers and developers to reach up to the latent customers.

According to a statistics about 10 lacs real estate brokers in real estate are neither registered nor regulated. Many of them don’t have any real estate business background and under qualified for this business. These agents used to have their own sales agenda in fleecing their customers. Lack of proper regulation indulged them in doing their own. Now, under RERA only registered brokers are allowed to carry keep up their business.

Real estate will be no longer considered as a sector of unprofessionalism 

Taking advantage of real estate ignorance of the clients won’t be spared under RERA stricture. Homebuyers will be thoroughly protected in every available service from the brokerage sector. New rules will swipe away non-credible brokers from the realty business. Brokers will have to discontinue their business if found guilty under new regime.

_LNN (Liyans News Network)- Buy property in north Kolkata and avail 7.5% post GST discount. Visit our online property portal to have detailed information about such properties. Enrich your home-buying experience with us.

Still in Doubt Regarding RERA Stipulation? Banks Seek Further Collateral From The Builders

Leading market players such as ICICI, State Bank of India and Yes Bank are seeking additional pledge on housing loan disbursement to the realty developers. In some lending agreements banks asked the borrowers to avail the loan against their personal property mortgage. Banks are worried that the new real estate law might impact their existing set of home loan terms and conditions.

What’s collateral?
In lending agreements the term ‘collateral’ is referred as secure lending. It’s an asset-based lending. Under any circumstance if the borrower defaults the agreement, in terms of repayment of principal or interests, bank has the authority to seize the respective property. Collateral must be equal or greater than the loan or credit extension amount.

What RERA suggests-
As per the revised law of Real Estate (Regulation and Development) Act, 2016 (RERA), a developer should maintain 70% money received from the home buyers in a separate (escrow) account. This would allocate only 30% of the sales proceeds. Earlier on, builders used to jumble this entire collected amount for other project development. RERA will finally uproot every tangle from the inception.
Now banks are considering that following this strict regulation might lead to violation of RBI preset provision rules. In one of such cases, a reputed Mumbai-based builder, who borrowed certain amount through a consortium of banks and other non-banking financial companies (NBFCs), might put in the soup. The developer had pledged his upcoming G+5 residential project as collateral and the lenders had full control of sales receipts. After RERA, additional collateral option in a project has become extinct.

“Under RERA regime a developer needs to put up his personal belongings/immovable asset as collateral rather than any of his real estate ventures. Definitely, he will be asked to give his personal guarantee, - said West Bengal RERA and realty expert Mr. Mahesh Somani.

What banks have been directed to?
The authority mailed ICICI, SBI and Yes Bank. As per the latest update banks didn’t respond to the same. Speaking on the same banks said that it’s too early to opine on this matter. Quoting the comments of the CEO of HDFC, “30% of the sales proceeds over which lenders have right, is only towards the principal repayment by the developer while interest is to be serviced out of the balance 70%. Even though lenders had access to 100% of the sales proceeds prior to RERA, they hardly used the entire sum."

The leading property portal in Kolkata banks will soon modify their existing norms as per RERA stricture. Yet, banks don’t want to reveal their policy. Mortgage lenders are worried if their projects get stuck under RERA. Lenders including NBFC and PE firms are thinking of ways to defend this unexpected risk. There are many instances where banks have invested with a buyback security or an option of converting debt to equity and approving part of the project. In a bid to import transparency to the realty sector RERA is going to make loan conditions difficult, expected by the market trackers.

LNN (Liyans News Network)
  

Developers To Put To Use Precast And Dry Well Systems To Speed Up Affordable Housing Project

Big news for budget homebuyers more volume of affordable projects are going to hit the market in no times. It’s not that government has approved more projects than scheduled. It’s for meeting the timeline of central government flagship project ‘Housing for All by 2022’. In order to develop comprehensive projects, now developers are aiming to use up new construction techniques like aluminium shuttering, precast concrete technology and fast drying systems to deliver projects within the specified time limit. Thus, it’s predictable that along with the other metros residential property sale in Kolkata will also speed up. Highlighting Kolkata as property price in Kolkata is cheaper than the other states, coining which Kolkata holds the capacity to lure the investors from various blocks of the income brackets.

Property consultant company Colliers International suggests that particularly after the Real Estate Regulatory Authority (RERA) Act underlines timely deliverance of projects, developers are considering advanced techniques and automation for rapid development of their respective projects. Adoption of modern technologies will help them to a greater extent for timely deliverance and well as top keep going under stringent RERA norms. Delay in deliverance will cost them greater than their business.

Buyers now demand fast completion of a world-class quality project against their investments. Besides, the growing need for commercial properties side-by-side the residential ones also insists faster development of the due projects. Thus, it has become the need of the moment to use advanced construction materials and mechanism to meet the market demand. The construction business in India is presently on the verge of taking up new technology, digitization, advanced materials. Artificial intelligence is the latest addition in the block. It has the potential to singlehandedly sort out all-inclusive issues of the development process. These technologies are not only economical but reduce the input of extensive manual labour, advanced earthquake resistance, more durability than traditional constructional process such as- higher carpet area, smooth finish on walls and lower on continuance..
Sources say that about 2 million affordable homes are yet to be built under PMAY scheme across the country and all these need to be completed within 2022 withal.

The entire development needs to be certifiably durable so that affordable housing sector can attract heavy investment and bring realize bigger success to union government’s one of the most ambitious projects till this time. Many private developers have started using these technologies to finish their affordable housing projects and to boost this noble initiative of the government for providing homes to the homeless and economically weaker section of the society. Experts say that today’s affordable housing is tomorrow’s big ticket. Affordable housing is currently going through the roofs with government’s incentives and reduced home loan interest facilities. It’s also discounted from GST ambit. There is also significant (20-25%) growth in housing loan business coming from the demand of apartments priced under 30 lacs.  Currently, developers are full of hands with attractive options of budget apartments.


-LNN (Liyans News Network)

How Much Rent Can You Rightly Afford?

Assessing your requirements from a rental apartment is easy but what’s not that easy is obtaining all those needs within your budget. Thus, before even thinking of a rental apartment, we insist you should most likely know what your budget is. Calculating your budget is not tough as nails. Here we give you evenly suggestion for measuring your rental affordability.

Not sure how much you should spend for rent? This is the general guideline to assist you resolve what the exact rent against your income.

Ascertain a budget- Assess your income as in salary, bonus, interest, dividends. Expectedly 60% of the earning gets spend on family which includes- food, household stuffs, transport, several policy EMIs. Thus, stretching budget for housing rent might lead to scarcity of emergency funds.
Mathematical solution- On the base of certain assumption monthly property rent should be around 30% of your income. This calculation might vary on man to man basis. For example 20% population of the country spend almost half of their earning on comfortable residential lifestyle.

Monthly rental calculation- There is a 50/20/30 analytical method by which experts calculate average rental affordability.

This goes as following-

• 50% on fixed costs- (Paid monthly/Per annum)

• 30% on every day expenses- ( Shopping/Entertainment or Dine out)

• 20% on economical goals- (Loan repayment/ Insurance premium/ Emergency savings)

The amount that will be left out after all these expenditures will be there for your house rent. It’s exactly the proportionate to the subtracted value of the above said expenses and other relative financial liabilities.

Some additional fees- If you find your rental apartment through an agent. The professional fee of the broker will be added to your expense burden. Commonly they charge something around 8%-15% of entire year’s lease value. It would be an upfront payment during the time of agreement. There will be a deposit to consider the move-in cost also. Then there will be security deposit money payable to the land-lord which is roughly equivalent to a month’s rent, though the same would get refunded during the time of your termination of tenancy agreement. Again if you are moving to any unfurnished apartment, the furniture cost will be added to your outflow.

However, spending less than 30% on rent of your income is a smart lifestyle solution. The modern trend is rather than spending monthly hefty amount on rent choosing affordable urban housing for your well-maintained lifestyle.

Have a look at low budget flats in Kolkata, these lifestyle apartments cost you less than your ever-increasing rental value. The purchase value won’t sit on your savings. You can avail all standard facilities and amenities befitting for your lifestyle.

-LNN (Liyans News Network)

New Project Launch Dimmed In Major Cities By 16% (Jan-March)

A negligible number of new launches across top eight cities witnessed an average decline of 14% year – on – year in 2016. For now, the residential unit launches have declined in 2016 by 12% to more or less 113,000 units and the unit launches continued to be cascading in the first quarter of 2017 as well. According to the Cushman & Wakefield report Country’s top 8 property markets have witnessed a 16% on-year reduction in new residential project launch which indicates that there’s a sag of 25,800 units of new launches in the in the Q1 2017.  New residential launches have dropped nearly 8% during the period April 2016 to March 2017 compared to the same period in 2015-16.

Following by a growing demand market is expecting natural flow in new project launches post RERA implementation. While most of the states are yet to submit respective RERA rules buyers are pretty unsure about the revisal of dynamic market graph. It’s prescribed that RERA implementation won’t collide with the current market price in the short to medium term.

Kolkata has always given a stable and fair market for top to bottom of the pyramid.  But these days, People are mostly choosing low budget flats in Kolkata over the luxury ones. Interestingly, there has been a hike in affordable project development of 30% compared to 25% in the same period in FY 2015-2016 counterbalancing the viable market demand. While, the sale of ultra-luxury residential projects have been dropped by 11% from 13% during the same period due to compressing market demand. Yet, a measured sale growth is predicted at the second half of 2017.

Major property markets such as Delhi, Bengaluru, Mumbai and Kolkata are currently sitting on huge unsold inventories. New launches in Bengaluru almost dipped by one-third compared to the previous quarter. Developers are trying to reduce their inventory level with attractive packages and bonny offerings in order to the push the sale upwards as well as to mature the present market condition which is kind of forcing them to freeze the new launches. It seems like builders have to wait for another couple of quarters prior to any new launch.

“RERA is the much awaited realty review platform. It will play a pivotal role in determining the economic framework of demand and supply. RERA will eliminate the faith dearth between buyers and builders. Residential sector will recover soon after the developer and the realtors start practicing in justifiable course realty under RERA domain as it will apply a uniform code of conduct for developers across country,”- said RERA (West Bengal Chapter) expert Mr. Mahesh Somani.

Consumers won’t be able to file complaints on RERA website until builders don’t register on the portal

RERA came in to force on May, 1. Still majority of the states hasn’t notified their rules yet.  Now, twist is that, RERA website will be unable to take complaints of the homebuyers prior to the registration of promoters. RERA has specified regulations for buyers, developers and realty agents.
Builders have three months buffer time to register themselves, even after RERA implementation. Thus, buyers will have to hold their complaints for another 3 months, even after RERA implementation. Unable to deal with the further delay, a group of homebuyers have approached the Pune Grahak Manch, a consumer forum with their complaints. This forum will undertake these complaints to RERA authorities and the state housing department.

In a press release an official of Pune Grahak Manch declared, “The aggrieved consumers can either register their complaints with RERA or the consumer court. If a developer does not register with the RERA website and seeks extension, the consumers will be left with no other option but to move consumer court, which already has a huge pendency of cases.”
Project those are out of RERA ambit, if found illegal in future will those be demolished? - This is one major question that’s doing rounds in the minds of existing property owners. Under any circumstances if the promoter is found bankrupt and leaves the project half-done, then how will the invested amount be recovered? RERA should provide legitimate solution to these queries.

Since, RERA website is unable to take consumers’ complaints there’s no alternative way for the buyers to take up their complaints to the consumer forums. As soon as the developers get themselves registered, the gateway will be automatically accepting complaints of the buyers too, that’s the rule.
Buyers’ are found losing their interests from RERA implementation and its power and functions, due to the repeated postponement of the complete execution of central law. But in conclusion, homebuyers will have to hold their grievance for a little 3 month long.

-LNN (Liyans News Network) - We shall answer your every property query within given time. For, you need to write down your requirement under post your property requirements in Kolkata of www.liyans.com. 

What Should Be The Appropriate Age For Real Estate Investment?

Property investment is counted as adulthood responsibility/ investment in our country India. Only financially sound and career-wise secured people can afford to step in realty investment. Purchasing properties in metro cities are better kept for big pies. As to buy property in Kolkata one needs to have bellyful wealth. Well, that’s not utterly true. Real estate investment shouldn’t fall under any of such decree. But of course there is a certain age, when people can partake in real estate investment but that has merely any link with the very person’s upper-limit bank balance, again financial stability should a practical term while buying any property on loan.

Again banks and financial organizations are keen on lending money for long run to count the EMIs, not they will show any interest lending money to people who are on the verge of their retirements, as the idea of lending money to the borrowers for a long term untenable. Let’s go over the issue and come up with a genuine conclusion.

A person hits his/her 30s or around 30s, they have more or less 30 years ahead of career headway. Unsurprisingly they have enough scope for property investment and enough time to develop property miscellany. Having tried in 40s people can also achieve ownership of self-earned realty units. Even self-employed people can also build property investment portfolio at the beginning years of professional eon. Laying it on, the sooner you start property investment, the more you spin money for long period of time. Profit from property multiples with time. Financial solidity can get you a home loan even for the extreme pentagenarians. Financial organizations have also realized with the emerging time that people found working even after the conventional retirement age of 65 now-a-days.

Reconstruction is the key to increase value of one’s existing asset. A person who has years of expertise in property business, knows every nitty-gritty of resale realty market; for definite reasons he/she would like to deal in properties with impressive condition. Else, dissatisfaction lives every corner among the property investors. Once people have an anchored real estate portfolio of assets or distinctive influence or healthy holds in banks; in that case these existing properties can be presented as guarantee for fresh home loan application even if they belong to the 50 age group. Thus, raising loan for buying residential property is absolutely within reach at present.

However, it’s evident that there is no particular age or ‘ideal age’ for property investment or to buy personal residential property. Besides, home-loan EMI rates have also been curved by the banks to boost up real estate sale volume. Low-budget residential units are the latest addition in this ebb. Homes under PMAY will also be free from stamp duties and other prime tax labels. One can easily afford these residential units with easy available home loans. End of the day, your self-owned home gives the biggest security above all our living investments.

- By LNN (Liyans News Network)

Parliament passes 4 GST charges, July 1 rollout likely

The new expense will introduce a uniform roundabout duty administration in the nation and not prompt swelling as captured by a few areas, the clergyman stated, twisting up an eight-hour banter in the Rajya Sabha

NEW DELHI: India made a conclusive stride towards a conceivable July 1rollout of the products and ventures assess (GST) with Parliament on Thurday offering gesture to four related enactments that detail the arrangement of this single expense administration that will supplant different state and focal charges to make one national market.

Fund serve Arun Jaitley said that once the new administration is actualized provocation of organizations by various specialists will end, and India will have one rate for one product all through the nation.

The new assessment will introduce a uniform aberrant duty administration in the nation and not prompt swelling as caught by a few areas, the priest stated, twisting up an eight-hour discuss in the Rajya Sabha. Jaitley said progressive governments have contributed towards GST and nobody individual can assume acknowledgment for it.

"This bill, I have no dithering in yielding, is an aggregate property," he said.

With usage of GST, incomes of the Center, states and the business and exchange must profit, he said.

"On May 17-18 we will give last endorsement to standards and rates... It would appear that it can be executed from July 1," Jaitley told correspondents after the Rajya Sabha cleared the Central GST Bill, 2017; The Integrated GST Bill, 2017; The GST (Compensation to States) Bill, 2017; and The Union Territory GST Bill, 2017.

The bills were cleared by the Rajya Sabha after nullification of a large group of corrections moved by the restriction parties. The fundamental restriction Congress did not move any revision.

The Lok Sabha had passed these bills on March 29.

With the Parliament gesture, the onus now moves to states that should pass the state GST law in their individual state gatherings.

The Center has as of now put out point by point rules for dialogs for partner interviews. The GST Council, the protected body made for this expense, will one month from now take up the final issue of fitting individual merchandise and enterprises to different duty rates.

The GST Council has affirmed a for rate structure – 5%, 12%, 18% and 28% – with most merchandise prone to fall in the 12% and 18% rate. Furthermore, a cess will be exacted on extravagance and sin merchandise also. The law accommodates a most extreme GST rate of 40% (20% focal GST and 20% state GST).

"I am glad at the way that with regards to implementing GST Bill all political gatherings turned out in one voice," Jaitley tweeted.

Independently, the Lok Sabha on Thursday passed a bill to make extract and traditions act consistent with GST. This bill tries to get rid of current cesses, which will be subsumed in the GST.

By LNN (Liyans News Network)

Infrastructural Development Has A Major Role In Realty Boom

Financial budget 2016-17 might help Kolkata realty in many ways. The budget covers transformation, energize and sanity of rural areas, extended part of metros, emphasis upon poverty lessening and major momentum of development of low budget flats in Kolkata from the city’s standpoint. The drive on affordable housing refurbishes government’s idea of ‘Housing for all by 2022’, backing affordable housing sale across the country. For boosting up the supply chain, the government’s objective is to build 1 crore houses by 2019 for homeless and people living in ungraded houses. Greater than almost 53% than previous FY, the Finance Minister has allotted of Rs 23,000 crore towards Pradhan Mantri Awas Yojana.

Lately government has discovered that the infrastructure section is majorly overlooked in this affordable housing sector. Infrastructural development will make sure of simple access of institutional credit and facilitate in cutting the cost of borrowing for these reasonably priced projects. Infrastructural development shouldn’t be stored for residential units of high streets. Thus, it’s upon the infrastructural development more areas of the metro cities likely to get approval for affordable residential development and such a market, will additionally be accountable through RERA. In this way low budget flats can be successful to channel fund flow from debt or pension fund sector to affordable housing sector.

Adding on investment in these affordable residential properties comes under the scheme of 100% deduction of profits from tax of an undertaking as per the latest declaration of government’s latest twist that had been formed to push the affordable housing sector occupancy. Previously, flats up to built-up area of 30 sq. metres in four metro cities and up to 60 sq. metres in other cities were to be measured under the same scheme, which has now been altered to ‘carpet area’ and the 30 sq.m. limit now is applicable only within the municipal corporation jurisdiction of the metro cities of the nation. There’s a discount on the time period has been applied too which is from 3 years approval period has been shifted to 5 years. These moves will definitely be able transform the sale unit of affordable housing sector. This extension will be encouraging to the builders as calculation of hypothetical rental on unsold inventories will now hand out a year after completion. On the contrary, investors will gain from the holding period as long term capital puts on tax from 3 years to 2 years will product in lower tax accountability and helps in personal savings and other investments.

Speaking about the outcome of budget 2017-18  Ansul Jain, the Managing Director, Cushman & Wakefield says, “Over all this is an extremely sensible budget that focusses on promoting long term and sustainable growth even as the country and its economy faces many headwinds from global issues such as BREXIT, US politics, increasing oil prices and general uncertainty.”

The spotlight is on transportation sector this time. Transportation, including rail, roads, shipping, which has received an aid of Rs 2,41,387 crore 2017-18 along with exact proclamations of developing over 3500 km of rail connectivity and 1.40 lakh km of road access will guarantee superior convenience in that way country’s economical development will pace up.

By LNN (Liyans News Network)

The most effective method to Easily Find The Right Real Estate Agent For You

Purchasing or offering some property could be truly energizing, yet troubling as well. Why energizing? You can answer it well, however why upsetting? That is on account of it's confused, for you'll have to gather a ton of data – about finding a purchaser/merchant, areas, value run, documentation systems et cetera – to take a correct choice. Else, you may apologize later over your choice. Try not to stress as you can without much of a stretch ride out of this issue with the assistance of a decent land specialist.

There might be various land operators around your whereabouts. In any case, when you search for one to look for help with purchasing or offering some property, you'll certainly need a correct land operator for you. What's more, why not! The correct land specialist assembles an affinity with you, comprehends your requirements and presents to you the choices you long for. Discover tips to get the correct land operator.

Go For A Knowledgeable And Experienced Agent 

Most specialists suggest going for an educated and experienced operator. Specialists say that a correct land operator for you would be the one with at least five years of experience. Despite the fact that, they additionally say that one with great measure of data and less experience than that can likewise infer great outcomes. To know whether the operator is educated and very much experienced, you can meet a portion of the past or late customers and clear your questions.

Consider The person who deals with ends of the week 

Offering significance to this point may sound some weird, yet it is as vital as alternate ones. Being occasions, you can have property-visits or meet purchasers effectively on ends of the week. Something else, your calendar may turn out to be extremely boisterous amid weekdays, which can antagonistically influence your work. Another imperative thing, incredible operators are for the most part occupied because of their workload. Subsequently, the vast majority of them work on ends of the week as well. Check if your operator is experiencing adequate workload, or they just boast about his work pointlessly.

The One Who Has A License 

There are specialists having no expert participation or extra preparing, and there are operators who are authorized and have extra advantages of instruction and preparing in the field of genuine domains. They likewise have a place with expert affiliation. Did you see the distinction? All in all, which sort of specialist would you want to pick? Clearly, the one that is proficient and more capable.

The One Who Is Available Online 

85% of the purchasers are said to at first scan for homes on the web. Indeed, even merchants additionally peruse the web with a specific end goal to get purchasers. Due to the advantageous part of the advanced world, awesome land specialists are accessible on the web, utilize email accounts and typically convey portable workstations with them. The universe of web delivers numerous open doors for them and for dealer and purchasers too. See whether your operator is lingering behind their rivals in the advanced world.

Initially Meet A Few Agents, Then Choose One 

It is not ensured that the main land specialist you meet will be the correct one for you. Meet a couple of specialists and impart your requirements or interests to them. Along these lines, you can feel certain about picking an operator who appears to be encouraging to you. What's more, recall not to consent to any purchaser's arrangement without going to the property. To begin with, make certain about the arrangement so you can unquestionably consent to the arrangement.

Conclusion 

It is imperative to Buy Commercial property in Kolkata Also while purchasing or offering some property as they can mitigate your misery and make your hunt all the more energizing. When will get this much from them, you ought to rush to have the correct land operator.