Monday 29 April 2013

Real Estate Demand On A Growth Path !!


Real estate in India: Through dark days

Real estate in India has been going through a lean patch since the last few quarters. 2012 had been a distressing year for the reality sector, fraught with dropping sales and increasing number of unsold homes. However, with festive spirits round the corner, weather is looking to brighten up for the sector.
In 2012, real estate transactions in ten major cities in India – Delhi-NCR, Mumbai, Bangalore, Kolkata, Chennai, Hyderabad, Pune, Ahmedabad, Cochin and Chandigarh, have remained stagnant. High interest rates and inflationary pressures have strangulated real estate demand and residential absorption came down by 6% on an average on a year-on -year basis in 2012. Developers also went slow with project launches as a reaction to sluggish sales.

Current reality scenario

New launches are starting to creep up after a lull. At present there are 492 new real estate projects being offered in Mumbai. Of the 492, almost 120 are in ready to move in condition. The number of properties on offer stands at 539 in Delhi-NCR, 536 in Bangalore, 331 in Pune and 387 in Chennai.
Big developers are launching high end luxury apartments in the top cities, with developers looking to cash in on high margin in high end projects. It is a considerable departure from earlier trend of concentrating more on affordable market.
However, considering the still grappling economy, the money that has to be paid upfront while buying a home has remained low. The 80:20 model is in vague where the buyer needs to pay only 20% of the property price till the home is ready to move in.
Real estate market provides good opportunity for investors as developers are coming up with pre-buying offers in cities like Delhi and Mumbai. A total of 517,365 units are expected to be delivered in 15 cities this year.

Future demand for real estate

With the economic landscape of the country improving gradually, a 5%-7% rise in absorption level is expected in 2013. Accordingly, despite battling slowdown, the reality projects seem to be back on a roll in the Indian cities. The developers are coming up with various festival discount offers and pre-launch offers. Records show that the first three months witnessed growth in new launches across the cities.
Investor ridden markets of Delhi-NCR and Mumbai holds the key to growth of real estate in India. During 2013-14, around 840 million sq. ft. is pegged to get absorbed across the major 10 cities. Of the total absorption, NCR and Mumbai will account for nearly 58 percent. Till 2015, a total supply of 1.5 to 2.1 billion sq ft space is expected; of which NCR and Mumbai will account for 43% and 13% respectively.
Analysts have predicted an average price rise of 6-7 percent on year-on-year basis in 2013 in the top 10 cities. In the coming two years, improved demand for real estate will see the highest price rise in the cities of NCR, Pune and Hyderabad. While Pune is expected to witness a compounded annual growth rate (CAGR) of 9% till 2014; Hyderabad will grow at CAGR of 10%. NCR and Mumbai will also see a CAGR of 8% till 2014.
Improved macro economic scenario will propel the developers to resort to innovative tactics to push sales and as buyers come out of their ‘wait and watch’ mould, real estate seems to be moving towards a brighter tomorrow in India.

Saturday 27 April 2013

Doing A Rent Agreement : Remember This Points !! Very Helpful !!


Rent agreement is an important document which defines the legally binding relationship between the tenant and the land lord. Usually, a broker is involved in carrying out the initial transaction between the two parties. However, both the parties can also take help of a lawyer to draw the rent agreement.
A rent agreement is a legal document which lays down the conditions on which relationship between the landlord and the tenant is determined. Seeking a home for rent and settling down on one may turn out to be a matter of contention on many grounds. The tenant may not pay up the rent on time or there may be disputes with the land lord on numerous matters. Rent agreement details would determine how disputes are to be handled and how both parties would carry out their respective duties.
Here are few facts that you should keep in mind to make the agreement legally binding and valid.
Always insist upon presence of two non-beneficiaries while rent agreement is being signed between the two parties. The rent agreement ought to be signed by the two non-beneficiaries to make it a valid one.
You can register the rental agreement by paying a stamp duty. Registering the rental agreement would mean that it would have more power invested in it, rather than only being a valid document.
In order to make it a smart rent document, it should contain the duties and responsibilities of all the parties concerned. A smart rent agreement would also include names of all the people living in the building. If the agreement contains names of everybody living under the same accommodation, then it lays down the ground of usage of common property among all the tenants.
The agreement should contain the tenure of tenancy. Specific dates from which date to which the lease of the agreement would be valid have to be mentioned.
The rental amount has to be clearly mentioned in the document, along with the amount deposited in the account. The agreement must contain details related to terms of deduction and return of the deposit money. The agreement should also include due date of payment of rent and the grace period. It also should contain the mode of payments – through cash or cheque or draft.
The agreement should detail the procedure for rent escalation every month – for example, many owners raise the rent by 5% every year.
It is the duty of the tenant of every tenant to keep the rented place clean and undamaged. Hence, maintenance and repairing responsibilities should be mentioned in the rent agreement. Alongside the rent value, maintenance fee payable every month and the payment date should also be in the agreement. While minor repairments are to be handled by the tenant, major repairments are taken care of by the land owner.
The landlord may have some restrictions regarding movement, parking usage or may have particular usage of property resources. These decorum details are to be recorded in the rent agreement so that there arises no disputes between the parties. Some rented properties may require certain society rules to be adhered by the tenant or some land lord may not allow certain activities on his/her compound. All these should be in a documented form.
Every tenancy agreement should contain details as to how to renew the agreement. The terms and procedure of renewal of the rent agreement as well as the notice period the tenant would have to serve before leaving the rented home have to be recorded in the rent agreement. The rental agreement rules and conditions lay invalid if any or both the parties do not adhere by them. Hence, it is of extreme importance that the agreement contains notice period

Saturday 20 April 2013

Demand For Luxury Homes in India Is Growing !!


Rapidly growing high net-worth individuals (HNIs), increased aspirations and changing lifestyle are the factors behind luxury living being redefined in India. Premium homes boast of increasing demand due to rising income level and affluent lifestyle desired by young professionals. As the buyers are increasingly demanding luxury living experiences imbued in the residential units, developers are coming up with more and more premium homes.
Affluent home buyers want their home to reflect the financial and social standing. Accordingly, premium and luxury segment in India has seen unprecedented rise and growth and developers are pouring into cater to the increasing demand. Premium homes today no longer means only expensive units which are centrally located, large and comfortable. Demand for luxury homes in India is growing and the premium segment has grown to a whole new dimension adorned with innovative modern technologies.They have become a lifestyle statement for the desiring affluent class.
Luxury segment offers a range of homes to the target buyer – apartments, penthouses, villas, row houses/bungalows, etc. They are usually laced with green spaces, parks or golf courses.

Branded luxury homes

Innovative techniques are being introduced in luxury segment by developers. Branded residences are an important emerging concept in luxury housing, which are developed by developers in collaboration with international luxury hospitality or lifestyle brands. In some cases, developers may even tie up with celebrities for branded residences.
Branded house falls under super luxury segment and although the segment has only about 5% share in real estate sector in India, there is a huge potential of growth for the segment in the near future.

Golf/ Polo courses

High rises with well maintained golf courses in the posh localities of a city has been regarded as symbols of high living. Golf courses stand for affluent lifestyle and social status. Now developers have moved from the stereotyped golf grounds to polo grounds to give the luxury homes a posh status.
. Some developers in India signed an agreement with Equisport, a pioneer polo sport agency, to give a unique polo living experience to the residents. It is also an example of branded residences as the developers have made major Adhiraj Singh, head of the sport agency, the brand ambassador of its upcoming residential project.

Themed villas

Theme based housing is new trend in Indian realty market. Theme based villas are the latest fads to impress potential luxury home buyers. Luxury villas are attached with a distinct snob value in congested big cities. Developers likePushpganga , Emaar MGF, DLF have come up with projects based on various architectural themes. Different architectural and cultural elements from different societies like Mexican, Spanish, Arabic, etc are imbued in these residential villas. Marbella, developed by Emaar MGF, is one such project which houses 4/5 BHK villas build in Spanish style. Theme based residential luxury villas in Bangalore, Delhi, Mumbai, Gurgaon, Pune and Chennai have attracted NRI buyers from West Asia, Singapore, etc.

Smart homes

Developers are keen to incorporate technological advancement into the realty scenario. Latest technology and gadgets have been used to create intelligent living spaces inside the apartments/villas. Prominent features of luxury housing includes digital locks, electronic surveillance systems, temperature control, wireless communication for Internet, in-house entertainment, etc.
The emphasis is to create intelligent and smart home in a techno savvy era. Systems with sensors are being used for controlling light, ambiance and temperature inside the house. Technology is used to provide a galore of specialized services – from concierge services to medical consultation.Pushpganga Ventures Pune have come up with a project called "Pooja Enclave" featuring such smart homes and affordable luxurious homes .

Vertical growth of luxury homes

As land is scarce in central areas of most of the big cities in India, luxury homes are being developed vertically – sometimes an apartment built over an entire floor. The luxury homes come with terraced gardens, indoor swimming pool, private lounges, etc. Bathroom fittings and kitchen interiors are of excellent quality and some of the developers have come up with ultra luxury services like exclusive lift and automatic teller machine.
Developers are even coming up with customized homes like boutique luxury homes which are set to redefine living experiences for residents. 

Luxury housing to grow in India

Keeping a track of rising number of affluent individuals, it is assumed by analysts that luxury housing segment in India is on its way to grow faster and further. Apart from residential purposes, they are highly valuable assets to invest in. Luxury homes are regarded to have immense investment value not only by the domestic investors but also NRIs as well as foreign investors.
According to Cushman & Wakefield (C & W), luxury segment is set to grow constantly in India despite the slowing down of Indian economy. 2012 has been a mixed year for luxury segment in India. In Bangalore, Mumbai,Pune and Hyderabad, the luxury segment contributed 7%, 5% and 5% respectively of the total housing supply in 2012.
As more and more number of HNIs are looking forward to invest their money on luxury homes, number of luxury and super luxury projects worth between Rs 75 lakh to 15 crore are being launched across the metros. As per estimates, annual sales of semi luxury and luxury houses are expected to grow at a compound annual growth rate (CAGR) of over 30 percent in the next few years in India.

Thursday 18 April 2013


Ten ways to go green in your home


Going green is the new mantra and when we asked our readers to send in their tips to ‘Go Green’ in their living space, we were bowled by the response that poured in.

Our top ten pick for the week are:

Fix a drip:

That leak in the bathroom sink is not just annoying. It’s costing you loads of cash in water and energy bills and wasted gallons. If you can’t get the plumber scheduled right away, use this old trick: Tie a string on the facet and allow the drops to dribble silently down into a cup or small bowl. Use the collected water to water your house plants.
 Sangeetha Moorthy, Home maker

Look to the past:

Antiques are the ultimate form of recycling. It’s amazing to witness what a fresh coat of paint can do to an antique furniture. And if a paint job is not on your agenda, fret not – distressed wood as a decor add on is in vogue.
– Mythili Swamy, Consultant

Think small:

The kitchen is the energy gobbler of the home. If you’re planning a remodel, building new, or just replacing an old appliance, remember that bigger isn't always better. In addition to looking for energy-efficiency ratings on your new purchase, consider going for a smaller model that uses less energy to begin with.
– Sheela Mani, Lawyer

Reclaim it:

Look for ways to reuse everyday items. Framed album covers make great wall art; vintage fabrics can become beautiful quilts.
– Priya Das, Homemaker

Grow your greens:

Try your hand at going green by growing herbs or salad greens in the kitchen. Bringing in a natural element adds some cosiness to your home’s busiest room, and naturally cleans the air you breathe.
– Shaheen Khan, Journalist

Lighten Up:

Opening up a kitchen with skylights and windows that allow natural sunlight to stream in not only helps your mood stay perky, it is a natural, free way to light your space. No budget to add windows? At least let the light in by removing heavy, light blocking window treatments.
– Chandini Dutta, Homemaker

Recycle Food Scraps: 

Throwing food into the trash wastes a valuable resource. Turn your coffee grounds, banana peels, and eggshells into a rich soil conditioner for house plants, lawn, and garden by composting them.

– Shinona Rodrigues

, Media Professional

Smart Shopping:

Whilst shopping, avoid overly packaged and single-serving products and select large packages instead. Transfer the contents, in reusable containers. At home, skip plastic wrap and aluminum foil in favor of washable containers with lids.
– Rozy Fernandiz , Media Professional

Get with Glass:

Rather than storing leftovers in plastic, try old-fashioned glass, ceramic, or stainless-steel containers. While many types of plastic can be recycled, they’re all made from petroleum, a nonrenewable resource. So cook up a double recipe of a favorite dish and pack it in your Pyrex or glass covered dishes.
 Suvarna Kale, Teacher

Cook Smarter:

Choose the right size pot or pan for the job and you’ll save energy. Large pans require more energy to heat than smaller ones. So make sure you need that large pot before you fill it up and turn it on. If you’re boiling water, place a lid on the pot to prevent heat and energy from escaping
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Friday 12 April 2013

5 Must Things to Do While Shifting Home....!!!!

House shifting is a tedious as well as time consuming process. Relocating house from one place to another is not an easy task as it requires moving your important household assets with utmost care. Hence to have a more comfortable and peaceful shifting experience below listed are few tips to be followed….

1. Advance planning:

Before shifting a house, it is better if you plan your move in advance. Advance planning will help you to execute your plan of house shifting properly. It will allow you to do all the necessary work before shifting, such as booking for movers and packers services, changing your existing address to new address, informing the post office to have your mail re-directed to your new address, among others. Also, advance planning will help you to adjust emotionally while leaving your house for ever.

2. Prepare a checklist:

Shifting a house is not an easy task. To accomplish the move without any trouble and also to avoid future issues, it is better if you make a proper checklist. This will also save your time and guide you throughout the shifting procedure. Include all nitty-gritty details in your checklist, from important bills to paying newspaper boy to number of luggage, as checklist will increase your level of confidence that you are not missing out on anything while shifting.

3. Checkout the packing procedure:

Hiring professional packers is a good idea, but that does not mean you are free from noticing the packing procedure. It is advisable that you need to see each and everything items packed as you do not want your favourite things broken during the moving process. Ensure that every single item is bundled properly and delicate items are well packed before loading. It will be better if you carry your important documents and things along with you while moving.

4. Discuss with your children:

Dealing with children while shifting house is a herculean task. It creates traumatic situation for them as children find it difficult leaving their friends and surroundings. It is better if you discuss with them and assure them about the things that will remain same and make them understand the reason of your shifting. Encourage them about new things they are going to get in their new place and if possible take them to your new home to just have a look around.


5. Check the house properly:

Finally while moving, you need to check the house for the last time. Doing this you will get to know if you are leaving any important things behind. Ensure that all the doors and windows are closed properly, as this is important for security concerns. Also, check through the kitchen as well as bathrooms, if any taps are left loose which can further damage the floor or the house.