Archive for the ‘Housing’ Category.
Research says that the current time holds nothing good for real estate, gold and stock market to be tickled pink. Post demonetization has made the market hold at bay in these following sectors of investments; in lieu of these major sectors some alternative lending startups have taken up as pawnshop and choice of financial investment. Kredex, the Sequoia-backed financial firm has pointed out a 4-5x upsurge in lender registrations on their platform after the money ban declaration which incorporates high net-worth individuals (HNIs) and institutional moneylenders like banks and other non-banking financial companies (NBFCs) in invoice discounting market place. Government’s push for cashless economy somehow is indirectly promoting virtual loan sharks.
Now financial technology is one of the established profitable sectors of Sequoia Capital of India. Asking on the same chief executive of Kredex Manish Kumar said, “Invoice discounting is becoming an alternative to the three asset classes which are real estate, bullion and stock market because it provides higher liquidity and a decent yield on their investment.” Initially in October 2016 Kredex raised 40 crore from Sequoia and existing backers. The Bengaluru based startup is known for its technically operated marketplace, where it links small and medium scale enterprises (SMEs) with prior investors who show interest in purchasing these unpaid collectibles to help them with their dynamic capital loop. Kredex investors receive interest rates ranging from 11-20 per cent. Banks and other financial organizations are looking forward to lend via this alternative lending platforms going next to the government’s digitization transaction declaration.
“We are noticing strong interest from banks and NBFCs to partner with us because demonetization is pushing SMEs to go digital, which makes them more lendable by online lenders like us who thrive on data,” said Sashank Rishyasringa, cofounder of online lending platform Capital Float, whose corporate partners have been devoted themselves to increase their lending capacity since the demonetization came in front.
Where the entire nation is having the quiver of cash crunch P2P lending companies such as Faircent, i-lend and AnyTimeLoan.in (ATL) have witnessed roughly 3x growth in lender registrations where as the major investment sectors are battling to get back into the scene. While there is strong interest from individual lenders, Hyderabad based ATL is also in process of tying up with three NBFCs to turn into a P2P platform lending business. “NBFCs come with bigger ticket – Rs 2-5 crore, which sizes of around will make it easier for us to meet the demand of borrowers,“ said Keerthi Kumar Jain, chief executive of ATL.
“Earlier, a lot of money was parked in real estate,” said Vinay Mathews, founder, Faircent.”Suddenly, our business model makes sense for investors like salaried professionals, small business owners, moneylenders, HNIs and institutional lenders.”
Small business houses are finding this invoice discounting marketplace an attractive platform to park their money in. It has higher interest level and better stability which certainly have been emerging this sector as a secure investment zone for future.
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New Town Kolkata Development Authority (NKDA) organized a meeting at the Rabindra Tirtha auditorium on last Monday Nov, 21st. All the architects and the engineers associated with NKDA were present there. The meeting was about improving awareness on go in for better technologies, craft and construction management process. This particular real estate market of property in kolkata north is already known for advanced housing estate development and world-class infrastructure. New Town area is also illustrious for the perfect association of cement and jungle. This place is directly connected with the city Kolkata and only a few minutes distant from Kolkata airport.
Many competent real estate companies have been coming up with new projects in this area to rule the property market of city Kolkata and suburban Kolkata. In this recent meeting officials said that the participants’ attention was drawn to the recent amendment of NKDA Rules that discourages dumping of construction materials and demolition waste on the roads. At any given time in Rajarhat and other peripheral areas are found log jammed with debris and garbage of construction companies. In the recent scenario it’s seen companies those are storing materials on road are not even showing any concern to remove the stuffs with the help of police. NKDA had also declared earlier that a service would be given for removing of construction waste and excess building materials from at a given cost for removing per tons of ravage.
The topic earned much highlight in this meeting was how the drains, roads, culverts and entire sewage system had been getting affected and clogged with this demolition waste of the constructions. NKDA now needs advanced procedure for this waste destruction without spoiling the area infrastructure and corporation water channels and sewage system. Along with the eye-catching skyscrapers this place maximizes the chance for exclusive real estate development. Thus new procedures like -renting of vacant land, construction work in the project sites in phases, use of prefabricated beams, using empty plots with prior permission from the corporation, steady monitoring of trucks while unloading sand bricks, cement and other raw materials, use of polythene sheets on the ground to avoid leakage into drains are planned to be implemented.
After cancellation of 500 and 1000 rupee currency notes this buzzing area has have the minimum effect of demonetarization as Housing Corporation Development Corporation (HIDCO) already consists a number of digital money options available in the township. This is the sign of an advanced business area to stay ahead in order to deliver the cream service to the area home-buyers and corporate onshore and offshore investors. To make all matter convenient NKDA has to come up with some exclusive and quick-efficient development idea which would be framed by core professionals. Rajarhat is the wise selection for home-buyer or startup entrepreneur. Therefore the companies which have bagged several residential and commercial projects in this area should have to be aware as well of the post threats causes by the runoffs.
Mumbai is best known for the dynamic and ever growing metropolis. The metro single–handedly serves 5% GDP of India as it’s apparently considered as a prime financial market of the country. The greatest lure of real estate sector in Mumbai is having advanced infrastructure and presence of renowned MNCs and giant real estate development companies. But the property price in Mumbai has been always ahead of the other metro cities of India. Despite Navi Mumbai shows some good rank in terms of real estate development and sale just as the growth of budding property in Kolkata north. During this sluggish real estate market few outskirt sectors of metros have kept the hope alive from the buyer’s perspective. Soon the city will be essentially proactive in order to fulfill the increasing market demand.
According to a report by Knight Frank new projects launch in Mumbai is exactly the double in the first half of 2016 than that of the previous year. This specific zone has been witnessing close to 28% above sale based on the new project inaugurations and market demand. Well, this is the ideal time for the Mumbai property buyers to explore the micro locations of the metro for grabbing their desired residential units. These include the projects near Navi Mumbai airport, CST Panvel, widening of the Sion-Panvel Expressway. These projects will enhance the connectivity in the city as Navi Mumbai has mono rail, metro rail connectivity in addition.
The second half of 2016 has also brought a wide grin in the realty sector along with the festive season and its lucrative offerings. Now it’s the favorable time to go ahead with the property buying decision for the market speculating home buyers. Adding on passing of the Real Estate bill and the new land acquisition bill have turned practically helpful for the well-acclaimed builders of Mumbai to provide accurate transparency to their forthcoming buyers. . Besides the government has declared a series of positive initiatives that can boost the overall market sentiment which will lead to a major real estate expansion at the end of 2020 as expected by the market experts. Asish Raheja, Managing Director of Raheja Universal Pvt. Ltd says, ‘’ Most of the infrastructure projects in Navi Mumbai are currently under construction. It is best advised that homebuyers invest before these projects are completed. As a general rule, investors must go for micro-locations which don’t have full-proof social infrastructure, but does have upcoming civil infrastructure. Since social infrastructure always follows the civil infra, such areas will yield better returns in the long run.’’
Tuesday night had been the witness of a drastic and bold decision from bringing back the transparency in the money market by copping out Rs 500 and Rs 1000 bank notes from the circulation. Rs 500 and Rs 1000 ban in India may perhaps finally vindicate the corruption of the country. It all came out as an eye-opener when PM of India Shri Narendra Modi had shocked the nation with his November 8 announcement. Nevertheless Indian Government has pulled select denominations of its currency twice before. In the early 70’s and 78 twice Government had come in the rescue of the money market to eradicate counterfeits and black money transaction. Bankers and economists feel that it will create a wave in real estate and gold transaction. These two sectors hold the major stocks where individuals lay up their black money.
An Ambit Capital report says that India’s ‘black economy’ is over Rs 30 lakh crore or about 20 percent of total GDP. However, given the fact that the total currency in circulation amounts to a total of Rs 16.6 lakh crore and a hefty part of would be money that is justified and is in motion, experts declare that it is mostly in the form of gold and real estate investments. In the financial report on black money of 2012 the real estate sector in India contributed 11 percent of the GDP. The ban of 500 and 1000 rupee notes will not only wobble the real estate market but also it will create a ruckus in the recent election process of UP and Punjab as these two states spend a huge cash for political promotion.
Asking on the abrupt impact of the step to demonetize the Rs 500 and Rs 1,000 notes, Deepak Parekh, chairman HDFC Ltd said: “I expect price of real estate to come down. One expects the price of real estate should come down in medium term.” Fight against the black-money will continue unless real estate and gold investment industry will come up with fair and white collar transactions. This is the sole motive of this movement. For the real estate resale industry and small scale builders this revelation will likely to bring more clarity. The practice involves stockpile of unaccounted investment. Housing price might take a downturn which could pull more willing buyers into this investment zone.
Being world’s largest consumer of gold India imports a dollop of gold out of which its total annual consumption is around 900-1,000 tons, some industry associates consider that this might reduce the demand for pure gold in the near future. Stating that there could be short-term impact, PC Jewellers managing director Balram Garg said, “This is a very good decision for long term especially for the organized sector.’’
The Ambit report also throw lights on the bulk of this black money is obtained in physical assets such as real estate and gold. It emblems the purchase of physical assets can be financed by black money not the financial assets.
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The corporate rating agency ICRA recently disclosed the fact that RERA is not a well-balanced act in order to benefit the builders. ICRA also puts light on the fact that RERA is chiefly focusing on the buyers’ and investors’ takings. Builders too have certain issues like multiplicity of approvals, lack of ample funding opportunities. Leaving out these issues RERA concentrates on timely and orderly delivery of the projects and the truthfulness of the offerings. Developers as well need some assistance from the authority on speeding-up and well-execution of the entire construction process. According to ICRA the project execution cycle lined up between 3-4 years, has expanded to as much as 6-7 years.
The vice president, corporate sector ratings, ICRA Ltd. Mr. Shubham Jain said, “The provisions of Act hold significant importance for buyers and investors, but problems faced by developers, including multiplicity of approvals and lack of adequate funding avenues, continue to remain unaddressed in the Act.’’ Nevertheless ICRA also highlighted the positive profits of RERA regulation which comprises an ultimate exclusion of deceitful developers and brokers, advanced standardization, enhanced liability for well-timed implementation and also proper use of investment coming from the various avenues.
Speaking about the commercial real estate sector some positive growth in this sector is seen during the past one year or so. On the other hand residential real estate sector is still soundless in spite of ever-increasing market demand. Besides there is no commendable price slash in recent times which develops a negation in buyers’ attitude. This is not at all a favorable situation for residential real estate market as well as entire national financial market. Under this circumstances a sluggish attitude has been observed in the supply chain, for builders have been facing challenges like- delays in receipt of approvals, scantiness in manpower and effective capital funds.
“The opaque nature of the industry coupled with the lack of regulatory bodies thus far has resulted in significant asymmetry of information as well as skewed balance of power between the developers and the buyers,” said Mr. Jain. The Real Estate Regulatory Bill, 2016, which intended to standardize the housing sector and look after consumer welfare, was passed by Rajya Sabha on March 10 and by Lok Sabha on March 15. ICRA also feels the recent consumer activism coupled with the aggressive deportment by the judiciary is a constructive step towards keeping up transparency on accountability and timely deliverance and favoring buyers’ investment.
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Festive season in India comes with loads of offers and discounts. Property market in India draws major revenue from this festive time, thus festive season brings prosperity in real estate market. Builders offer jumbo concessions and tantalizing schemes to clear on hand and exiting inventory housing properties. Specifically during Diwali Season a profusion of such offers like- gold coins, automobile vehicles, kitchen appliance even holiday trips are prognostic. Real estate investors eagerly wait for the festive season thorough out the year to invest on their chosen properties. Therefore this is the period of boon for the property industry. Usually 20-25 per cent more sale is expected than the rest of the year, during this season. As per the banking sources this year there is an uplift of 50% lead with the beginning of the festive season.
This is the ideal time when property buyers can negotiate even with the offer price of any property. Not just developers many banks and financial organizations draw turnouts from this festivals by providing loans on easy terms. In many cases if the property purchasing task is performed under renowned real estate companies property buyers will have some additional advantages coining the affiliation of the very company with nationalized and private banks and financial organizations. In a recent survey it’s seen HDFC Bank reduced its base rate by 35 basis points (bps) to 9.35 percent and other banks likely to go with. Availing loans will be lighter on the EMI clearances.
Since last few years property market has been dormant, even festive offers were not able to fetch any positive wave in the property market. This dull period resulted with overkill supply without proper market assessment, imprecise delays in projects and regulatory snags. Prices too have been unchanged. Property investors went puzzle to point out the favorable time to perform their property investment. But unlike previous couple of years this year has already started witnessing some positive inflow in the entire real estate sales. But when it comes to property investment umbrella guidance is what anyone should come by for instance how much is your actual home loan requirement, how far you could avail from the banks etc. One thing property buyers should always inquire before any property investment whether this discounted price of property is an actual reduced amount not a reduction version of an escalated amount followed by the hidden charges and always look at the credentials of the builder developers and their previous market reputation.
Let’s see what bank has stored as festive offers–
• Wherever there is a builder tie-up banks are offering no processing fee on home loans
• For tech-savvy people Banks have launched home loan apps from where also they can get the processing fee off
• For senior citizens there is a loan of less basic points than the regular loans
• Avail lower interest bridge loans for switching over properties
Property insurance is a mandatory thing which everyone should buy from any trusted bankassurance, it will saveguard your property from any unfortunate hazards apart from natural disasters.
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Since the festival of lights in around the corner, we would like to share some unique thoughts and ideas on how to decorate your home with handmade radiant decors. Rather than being extravagant with crackers and lightings we should celebrate Diwali with friends and families to fortify our bonds. It’s the perfect opportunity to engage our family members in some creative and engaging team-work. Having an eco friendly Diwali is a way healthier idea to celebrate the festive season. Decorate your home with homemade fancy stuffs to hold high the festive spirit. Here is the list of some cool objects you can make to decorate your homes during this festive season-
Homemade diyas– One of the most common things people makes to celebrate this illuminative season. We all use candles in our households. These are the raw ingredients for making festive candles. To make decorative candles unused stuffs like- egg shells, seashells, salt dough or even a cork of bottler will do the trick. Simply pick any one of these, paint them well with fabric colors or stick sparklers around these add melted wax and wick to make a candle. For fragrant candles you can add cinnamon sticks around wax candles.
Torans with color papers– We Indians have a custom to hang colorful dangling crafts at the entrance of our homes which is called as ‘Toran’. It’s the symbol of bringing good luck to your family. Instead of buying one from the market you can make it at your place. Use simple cardboards or old greeting cards, cut them into attractive shapes, tie them together and hand around the entrance and your DYI Toran is ready!
Recyclable Rangoli– Rangoli is an essential part of Diwali. All the colors are easily available in the market. Nevertheless you can make these designs with cardboards. Simply draw it on the cardboard and cut that according to that shape. Use and reuse it in every occasion.
Diwali lamps with plastic bottles-We all buy plastic bottled cold drinks. It’s obvious you will find them around your home. Use scissor to cut them in half. Use a candle in the center as a light source. Glue some colorful papers around the bottle. Stick stencils in proper proportions. Bring the festive mode alive.
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Replacing all local standards now there will be a common, universal standard for measuring residential buildings. This will fetch standardization and distinctiveness and will remove contradictions across the countries. An alliance of over 80 global property firms, counting RICS has ushered in a new comprehensive standard for measuring housing buildings. This inventiveness will bring impartiality in the entire system. This new standard is about to restore a number of local measurement standards of the building measurement.
According to the managing director emerging-business and managing director of RICS south-Asia Mr. Sachin Sandhir –‘’ Adoption of uniform property measurement standards will send a message to homebuyers that the Indian real estate sector is serious about adopting global best prices’’. Initially RICS had a talk with the securities market regulator SEBI, the ministry of Housing and realtors NAREDCO during the month of March in last year in order to comprehend the fittest way of IPMS implementation for residential buildings in Indian real estate market.
In July 2013, the IPMSC had chosen real estate professionals from all over the world to form the Standards Setting Committee and founded global standard for property measurement. International Property Measurement Standards (IPMS) for measuring office buildings came in action in 2014. This is supposed to be the second phase of global open-source standard regarding residential property measurement. IPMS association organized a public conference in September, 2015 where they counted the opinions of real estate experts and property professionals about the proposal of residential standard. The IPMS standards are-
1. IPMS 1- External
2. IMPS 2- Residential (internal)
3. IMPS 3- Residential (occupier)
In the recent researches it has been found that India is one of those countries where measurement standards of buildings vary from one market to the other, which causes confusion among the property possessors, investors in the time of declaration of floor space details. As per the latest RICS survey while compared to the IPMS for residential buildings it was seen the difference in measurement for residential apartments differ from close to 27%, where as for residential houses it varies nearby 58%. Buildings are to be measured separately and reported on a floor-by-floor basis.
IPMS for residential buildings has been drafted by the Independent Standards Setting Committee. The motto of IPMS is to serve consumers a better and consistent measurement worldwide. IPMS can be used during agreement between users, service providers and third parties, because customers deserve a transparent deal when it comes to property investment.
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Are you inspired by the property business sector of Maheshtala. Here are some important data sources that will positively help a forthcoming property purchaser. Maheshtala saw an ascent in normal property estimation by 4.4 % in Apr-Jun 2016 quarter.
The region offers assorted lodging alternatives, for example, pads, private house, plots and estates. Maheshtala is prescribed for old guardians, youthful experts and families.
Maheshtala has great prospects of turning into a premium local location close Kolkata. A great deal of new stock is coming up in the region and home purchasers are intrigued as far back as remote financing filled the neighborhood land.
The region has a considerable rundown of land offers for its potential purchasers. Aside from its vital area which is in South 24 Parganas region, Mahehstala offers an excellent perspective from its up and coming properties.
Here is a quarterly depiction of Maheshtala in Kolkata –
Many private equity companies as well as strategic investors who have invested in budding real estate projects are plucking their contracts with the developers frightening the lawsuit and penalty once the RERA comes into actions. The fear is that under RERA act they can be trademarked as developers and consequently they might have to confront strict punishment for any infringement of rules by the project they sponsor. Under RERA the promoter will be in charge of any conformity. Developers, landlords, private equity or even strategic investors will be falling under the RERA terms if they are actively involved in the project.
As a matter of fact many investors, strategic as well as private equity companies could be considered as promoters and have to carve up compulsion under RERA if things go tart. As a result many investors are now trying to mitigate their roles in the previous contract or trying to tune up agreements so that if any legal case or penalty they developer would face that or to some extent according to the contract at least obligations can be reassigned to the developers. As per the sources the arbitration between developers and investors has already commenced. To safeguard themselves the investors are either trying to alleviate their active involvements or putting additional clauses in the contracts whereby their legal responsibility would decrease.
RERA won’t legally uphold any commercial contract signed between the developers and the investors said by the real estate experts. The clauses which investors want to put in directly involved with monetary hazards. For instance if any fine have to be given then it will be paid from the developers’ account directly without dragging the investors. During past few years many investors in the real estate field including the PE firms were dynamically involved in design, development and marketing projects of real estate business. These investors will be now categorized as promoters and duty-bound to abide by RERA. When it comes to foreign investors such as foreign PE funds which have been currently rolling in the Indian real estate market, their diluting ventures are also being considered. Some of these investors want to close all the ongoing deals to go out of the projects to reduce the risk and their direct association. However this won’t be an instant and easy task.
Few investors are also looking to dilute the risk of attachment in the real estate SPVs (special purpose vehicles), but that may not be a release option to have a profitable exit. RERA won’t also spare those PE firms that have taken power of those projects which haven’t been completed by the developers for some reasons. This act is targeted to cut down the wrongdoings of property business. RERA is here to advance the real estate funding environment, to set a regimented approach for project completion. It will certainly bring transparency in the agreements between developers and their investors.
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