December 2016 Vol 02
By 2020, Indian realty to provide $77 billion REIT investment opportunity
Indian real estate is likely to provide investment opportunity worth up to $77 billion through Real Estate Investment Trust (REIT) – eligible commercial – office and retail, properties across the country’s top seven cities by 2020.
Across these cities, including Mumbai, Delhi-NCR, Bengaluru and Pune, ready commercial space eligible for REIT investments amounts to 277 million sq. ft. accounting for less than half (44 percent) of total office stock in India. In addition to completed stock, around 68 million sq. ft. of additional REIT eligible stock is expected to be completed by 2020 across these seven cities.
Check before you buy
For most people, buying a property is a big investment. It is therefore prudent to do a thorough research before buying one to avoid hassles in the future.However, following the check list given below could prepare you against any kind of fraud.
Always ask for original property papers. Non-availability of these is a clear signal to stop any kind of dealing right away as there are chances that the title of the seller is unclear or there is a mortgage issue over the property. A title certificate will ensure a clear and marketable title for the property. 2. A legal opinion of an advocate is advisable in which case you will have to hand over to him the copies of documents of title deeds related to the house under sale.3. Check for any pending loans on the said property.
Source: Mid-Day, Friday 23 December 2016
Why you need a Broker
Rajeeb Dash, AVP marketing of leading construction company says, “Brokers are an important part of the buying cycle for consumers. Even though the broker community is largely fragmented and unorganized, with training and collaboration with the developers they form an important intermediary in the real estate sector.“According to KaizadHateria, brand custodian and chief customer delights officer of leading construction company, says, “They have a detailed knowledge of the property market, on-going rates, upcoming projects, and also identify fraud builders. They act as consultants to potential home buyers who want to invest in a home located in an area which is not well known to them.By charging minimal commission, these brokers assist buyers to choose homes as per their needs and budget. A good broker who has proper knowledge of the market will facilitate best deal for buyers and help them to smoothly navigate through legal glitches.
Real Estate faces New Reality as big bang reforms kick in, finally
The year 2016 was an inflection point for the real estate sector and with Real Estate Regulatory Act (RERA) becoming a reality, rising consumer activism and high value currency demonetisation that hit cash transaction oriented sector hard is easily a watershed year.Developers, on the other hand, will have to adjust to the new environment and more specifically, they have to change their business model whilst adhering to stricter compliance norms. However, as of date, only Maharashtra and Delhi have come up with and notified the draft rules for RERA.
Alibaba to soon open its first India office
Alibaba, largest e-commerce entity in China, is setting up its first India office in Mumbai, apparently an indication that it would step up investment in the country in the coming year, to capture a pie of the growing e-commerce market here.
It has, though, kept its plan to enter e-commerce in India under wraps. By setting up a office at Platina in the Banra-Kurla Complex (BKC) in Mumbai, close to that of US rival Amazon, it appears to now be signaling the intent that it is serious on entering.
Source: Business Standard, Thursday 29 December 2016
Listed developers not to launch new homes in next 3 quarters: report
Listed developers in Mumbai will not launch new homes over the next two-three quarters, as these firms are planning to focus on completion of projects and shifting business models to become RERA compliant, said a December 28 research report by Kotak Institutional Equities.While organized developers from Mumbai recorded steady sales till recently, the market has slowed after growing for two years on volumes, said a Kotak report.
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