A Leading Real Estate Website in India Laments Homebuyers Plight Against Builders

According to a leading Real estate website in India, a pan India homebuyers pressure group has made a recommendation to the government that it form a solution similar to the one it created for Satyam Computer's bankruptcy and sale in 2009, but, today for builders. According to this pan India group of homebuyers builders are in the process of deconstructing their companies with the goal of leaving them bankrupt once the RERA is in force. Many in this pan India group of buyers have invested their life saving with builders and are appealing to the government to offer them reprieve.

Builders Alleged Pre RERA Rollout Antics

The "Fight for RERA" group, as the pan India home buyers group is called, has written to the PM of India and stated that numerous builders are laundering money and are stripping their companies of assets in an attempt to enrich the builders and leave their companies bankrupt.

Fight for RERA claims that time is of the essence in this matter and any delay would leave homebuyers permanently in a lurch as they believe that the builders companies will be hollowed and unable to complete any project.

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Dishonest Builders be Given Satyam Treatment

For the reasons mentioned the homebuyers group feels that the government should take action against dishonest builders in a manner similar to that taken against Satyam Computers in 2009 when the government reconstituted Satyam's Board of Directors with new members. The new board of Satyam in 2009 oversaw the transition from the earlier owners, the Raju's, to the Mahindra Groups Tech Mahindra. According to one real estate website, Tech Mahindra acquired the then Satyam Computers through a global competitive bidding process and later through an open offer on Satyam.

Fight for RERA Lament's Current Inaction

According to a some leading real estate websites and portals, Fight For RERA has stated that despite the activism from homebuyers, orders and directives from various authorities and courts, builders with unfinished Property in india do not as yet feel the heat to complete their projects. Hence Fight for RERA has pleaded that the Judiciary and Executive should work in tandem to compel rogue builders to fall in

5 Indian Real Estate Facts Every NRI Investor Should Be Aware Of

Indian real estate market is one of the most profitable investment ventures. Though there are ample other choices including the stock market, mutual funds, and gold, but real estate seems to be one of the best options. Not just investors from India, but from all across the world find Indian real estate market a profitable venture. NRI investors make a lot of money every year by investing in property in India. They invest both in residential as well as commercial projects to get a high return on their investment.

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With so many improvement and new regulations, the government is further making the market more suitable, transparent and profitable for NRI investors. If you are also in NRI and looking for a perfect property in India, you should first have knowledge of some facts related to Indian real estate market. Just have a look at five important facts to get the best from realestate in India.

1. Permissions

NRIs have got permission from the government to invest in any residential or commercial project in India. They don’t need any special permission from RBI or any other government body to buy immovable property except agriculture land.

2. Formalities

As an NRI investor, you need to fill and submit a declaration form IPI 7 with the central office of the RBI. You need to submit the form within 90 days of the date of purchase of immovable property. Make sure you submit the form along with a certified copy of transaction and the bank certificate as evidence of payment.

3. Loan

NRI investors who don’t have enough money to make complete payment for a project are allowed to apply for a loan from any Indian bank. Many banking organizations in India have got permission from RBI to provide a home loan to NRI investors as they provide for Indian property investors. Some of the best property sites in India also provide a list of these banks to help investors find the right bank to apply for a loan.

4. Gifting property

Foreign nationals of Indian origin are allowed to gift their property or to get the property as a gift from their relatives up to the limit of two houses. So, if you want to dispose of your property or want to get a new home, you can opt for gifting choice.

5. Payment methods

As far as payment options for the NRI investors are concerned, they can pay for the property through inward remittances in foreign exchange, through general banking channels and through funds from NRE/FCNR accounts.

If you are an NRI investor seeking a right investment in Indian real estate, it is better to find properties websites dealing with NRI clients.

For more Information click here: real estate blogs

Essentials of MIG Housing According to Established Property Websites in India

According to numerous property websites in India, mid-Income Housing in India can only be successful if such properties are in favourable localities. According to such property websites, in the past, many projects targeted to middle-income households failed because such projects fell short of meeting certain essential criterion. This real estate website will delve into greater detail concerning what criterion are essential for success when building for middle-income households and the importance of the fulfilment of this criterion to middle-income households.

A Good Location

A middle-class family in India would like to enjoy all of the trappings of middle-class life. This includes being well connected with the rest of the city and having easy access to education and entertainment vistas. A middle-class home that is in a secluded region is unlikely to find favour with middle-class households since middle-class families usually comprise of at least one or two children and the parents of such children would like their children to attend school nearby, not across town.

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Most middle-class families in India have at least one parent who works and he or she would like to be able to commute to work and back with ease. Hence builders who have constructed properties in India which they intend to sell to middle-income buyers should ensure that the house is located in close vicinity to an employment hub. Technology parks are among the most sought after employment hubs for the middle class.

The saying all work and no play makes Jack a dull boy proves doubly correct for children. Entertainment vistas are crucial to enjoying a high standard of living and access to sports fields and malls is important to be physically fit and abreast with the latest trends.

The Price Should Be Right

According to most real estate sites in India, the pent-up demand for mid-income housing in India ensures that most supply will eventually be absorbed. The excess supply in this segment is measured in months, not years as most units are expected to be sold within a few months. However, the price of such property in India should make it attractive to middle-income buyers and such homes, in the end, should not be priced so as to make them appear to be daunting to MIG households. A lesson to learn is that the Mig market segment is driven nationally by end users, not investors.

A Brisk Completion Timeline

MIG properties in India should not have a very long term completion horizon, this has in the past wreaked havoc in the lives of middle-income households who at times have had to wait for years to occupy their new home while they have simultaneously paid rent to live in another home. According to this property website, timely delivery by builders makes such projects all the more attractive to MIG households.  

Why this is perfect time to invest in property in India?

Have you been planning to buy property in India for long? For those looking for a suitable property at affordable prices in India, this is the best time to step ahead with their decision. Average property prices in the top eight cities in India declines steeply in 2016, giving investors great opportunities to park their money.

As per the report from leading property consultant Cushman & Wakefield, the ticket size of new launches across top eight cities reduced by 14% year on year. Apart from this, expectations of changes in prices of new units have also been made as most of the developers are planning to reduce the effective ownership cost to boost the sale of their inventory. They will enhance the affordability of new units either by offering attractive discounts or smaller units. Many real estate sites in India have already started flashing attractive discount offers on different projects.

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To draw the attention of home buyers as well as real estate investors, many developers has started improving their marketing strategies. To bring down the number of unsold inventory, they are reducing the effective cost of the property and restricting new launches. As luxury and high-end segment got hit worst from demonetization, the developers are rationalizing this segment the most.

If you check property site in India, there will be very limited number of new projects for builders are postponing their new launches due to uncertainty in the market. Contemplating the market dynamics, with just 1,13,000 units, the number of new housing units declined by 11%. With just 12,000 units, the high-end segment was affected the worst while the middle-income segment accounted for 56% of total unit launches and value housing saw 32% new launches.

For developers, the residential market might be frozen, but for property investors, this is really a great opportunity. They should take advantage of the price drop and buy a suitable property for high capital gains when the market improves. Best property websites in India help investors as well as end-users by regularly updating their blogs with the suitable properties in different cities.

Projects which have already been launched and have unsold units make a perfect choice for the investors to park their money. Just look for the developers offering discounts or other schemes and grab the opportunity.