If you are a potential home buyer, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has just made your life considerably easier. Now, instead of running from one builder’s office to another, you can access all the information you want regarding a project with just a click. On Friday, the realty regulator went live and began mapping all the development projects registered with it. Using a Geographical Information System (GIS), over 4,000 projects have already been mapped out.
Home buyers just have to click on the project blimp to access the information, including all its certificates, registration number, and location coordinates. “MahaRERA will be the first state real estate authority to provide this feature in the country,” said MahaRERA chairperson Gautam Chatterji. Has the Regulator begins mapping of registered projects; buyers can now access info on amenities and other projects in close proximity.
Now, hsg socs need to give only 10 docus to get to own land
It’s good news for around 10,000 housing societies in Mumbai and thousands more in Navi Mumbai, Thane, Pune and other cities who have been struggling to get deemed conveyance—ownership right of plot certificate—from builders. Last week, the state co-operatives department issued a government resolution (GR) saying only 10 documents need to be submitted while making an online application, and this is to be followed with an offline application at the office of the district deputy registrar (DDR), said a state official requesting anonymity.
The co-operatives department has merged 10 GRs and scrapped two others to simplify the process for deemed conveyance. These 10 GRs had been issued by various departments since 2010, leading to delay in resolving matters. The co-operatives department has no record on a total number of deemed conveyances issued till date. Many builders in Mumbai and other urban centers in the state are known to withhold conveyance in order to continue exploiting the ownership of the title for rental incomes in various forms or to assert future development rights.
Investing in COMMERCIAL Property for investment!!!
Though traditionally the domain of institutional investors or heavyweight business houses, many retail investors are now getting into the office real estate game. Here’s understanding the dynamics of commercial real estate. For those keen to invest in real estate, commercial properties are a viable alternative. Today, even professionals like doctors, auditors, stock brokers, and lawyers are buying commercial properties for investment and self-use. A commercial property could be a small shop in a neighborhood, housing complex or at a mall. It could be a small office space or even a joint investment in a bigger office space.
Things to look for: Despite the availability of several options, investing in commercial real estate requires a lot of research and planning: 1) Location: Investors need to inquire about the demand of the location. If their product/service is not attracting the right customers, then it will be a futile investment. 2) Check developer credentials. An investor needs to do a thorough check of the developers’ credentials, potential for infrastructure development, access to public transport; 3) Expert advice: It is pertinent that the investor take the services of a reliable real estate agent and a sound lawyer to help ink a deal. 4) Proper research: If investing in a retail store, the investor should consider the frontage, foot-fall and the dynamics of the catchment. 5) Serving the purpose: If buying for self-use, entrepreneurs should ensure that the amenities in the project match their business needs. 6) If an investor is investing as an office asset, he should consider factors like the cash inflow, the vacancy factor, lease term, lock-in period and expiry date, long-term capital appreciation potential. He should also consider expenses like maintenance, property tax, and building insurance.
Source: Mid-Day, Friday 6 July 2018
CRISIL SME Tracker – With RERA, only disciplined builders stand a chance
Setting up of the Real Estate Regulatory Authority (RERA) has improved financial, legal and operational discipline in the sector, a survey of small builders rated by CRISIL has revealed. Builders have become cautious and are taking up handful projects for execution at any given point of time. They now have dedicated staff focused on ensuring compliance with RERA rules, and have become more transparent on disclosures and communication to customers through brochures or their websites. Besides, they have introduced various clauses in agreements with customers – including unit carpet area, possession date, defect liability, default and delay implications, etc. But the changeover to the RERA regime has also created its own share of challenges for these players.
Indian Realty turns good bet for Global Investors on Govt reforms
Institutional investors, including private equity, sovereign wealth and pension funds, continue to express rising appetite for Indian real estate. Matured yield-producing assets and competition among global investors for these assets have pushed the average investment per deal to $158 million, almost four times the average investment per deal concluded in 2011, showed data from Knight Frank India. Private equity investments through debt and equity instruments across various segments of real estate have shifted to a new paradigm post-2014 owing to a battery of reforms initiated by the government.
These investments, including platform deals and commitments, grew at a compounding annual growth rate (CAGR) of around 36% to $8.6 billion in 2017 from $2.5 billion in 2014. The Indian real estate sector was perceived by investors globally as developing in terms of quality assets across segments. However, the reforms and policy decisions over the past couple of years have collectively set a new order and changed the perception of global investors in India. Several deals are facing challenges due to the violation of construction norms in the assets as these investors do not want to get associated with non-complaint assets.
Source: The Economic Times, Tuesday 10 July 2018
Buyers today wish to have a house in a complex that offers holistic lifestyle
Property purchase is not an easy task. Many things are taken into consideration when it comes to buying a house. Earlier, most homebuyers looked for basic facilities around the housing complex such as the existence of good educational institutes, market, hospitals, among others. Though these are still sought, buyers today wish to have a house in a complex that offers a holistic lifestyle. “Projects that have modern and user-friendly amenities like a fully-equipped clubhouse, amphitheater, meditation pavilion, swimming pool, fitness center, kids’ play area, senior citizen corner and jogging track are in demand. Keeping the demand in view, most developers today aim to build a state-of-the-art project that would give the experience of luxurious living to the residents,” says a property expert.
Owning a home that offers a lifestyle fully aligned with the requirements of modern-day facilities makes the investment worthwhile. Besides luxurious amenities and basic facilities, another thing that most buyers prefer is to have a house in a location that will witness new infrastructure projects. With the announcement and on-going work of numerous infrastructure developments, many homebuyers wish to have a house in an area that will see major developments as it will eventually increase the property value and connectivity options to reach various parts of Mumbai. According to experts, the market is more ‘need driven’ rather than ‘greed driven’; buyers wish to put the money in the property that fulfills their need.
Source: Mumbai Mirror, Saturday 14 July 2018
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