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19/02/2017

Common Obsessions Of A Successful Real Estate Investor

Investing in real estate is a full-time job. Not because it requires and involves lots of capital but also because it needs a lot of dedication to understand the real estate cycle and market to reap profits.
Since there is no degree or course which can make you an effective real estate expert, it’s the market awareness and self-study that can make any investor successful. If you too have the ambition to earn big bucks, adopt these habits in your daily life to be a successful real estate mogul.

Keep reading about the real estate market
A successful real estate investor keeps on reading and updating his knowledge about real estate markets. The ups and downs, market movement, performance, analysis, reports -- he keeps tabs on everything which can remotely influence his investment prospects. Government policies, infrastructure announcements, project launches and deliveries, market trends, demand and supply information – awareness on everything make for a successful real estate investor.

Considering investment as full-time business
A serious investor never takes his investment as a second priority. He considers his investment as the most important thing. He has a clear focus, objective and strategy to enforce while putting money in the property market. He has a bigger picture in mind and several short and long term goals to achieve. Since property market in India is complicated, having fool-proof strategy keep investors community organised and on-track.

Goes only for ethical route of investment
Real estate investors know it all -- the ethical way of earning money and the illegal way of reaping benefits. However, serial investors refrain from unethical methods of real estate investment. Sometimes, it is really easy to take advantage of the situation but those who have been in this sector for long, maintain high standards, not because of the risk associated of being caught but because once abducted, it can leave a lifelong dent in the reputation and affect one’s goodwill in the business.

Keep focussed
Every real estate investor has a niche segment which he prefers. Diversification is very rare and requires portfolio management by a full-time real estate expert. An investor acquires mastery over the segment which he is interested in investing in. Whether it’s commercial, residential or even plotted development, an investor is a well-read individual and keeps account of every highs and low of a specific segment. This specialisation is a key to enter real estate market as an investor.

Be prepared for any eventuality
A professional real estate investor understands, however, small it is, there is always a risk associated with the property market. Not just in the beginning of the cycle, the money-maker keeps on evaluating the risk even during the cycle to estimate how beneficial his investment would be. Understanding of risk factors not just makes the investor more charged up to face the crises but makes him more resilient to the market.

Has a vast network
The Internet, newspapers and reports cannot give you all information about the real estate market. To get the ground report, an investor always has sources spread over the industry. If not sources, he socialises and creates a network with the people who are in the field and can serve him with the right kind of information. These can be real estate brokers, property consultants, architects or anyone who is a stakeholder in the real estate industry.

To be an investor in the Indian property market, it's not just the money you need but one has to be wise enough to judge the prospects of the market. It's not a hidden fact that crooks have plagued the sector and have duped millions of honest investors, but the smartness lies only in getting yourself educated about various real estate markets if you want to earn millions without falling prey to many.

05/01/2017

Common Obsessions Of A Successful Real Estate Investor

Investing in real estate is a full-time job. Not because it requires and involves lots of capital but also because it needs a lot of dedication to understand the real estate cycle and market to reap profits.
Since there is no degree or course which can make you an effective real estate expert, it’s the market awareness and self-study that can make any investor successful. If you too have the ambition to earn big bucks, adopt these habits in your daily life to be a successful real estate mogul.

Keep reading about the real estate market
A successful real estate investor keeps on reading and updating his knowledge about real estate markets. The ups and downs, market movement, performance, analysis, reports -- he keeps tabs on everything which can remotely influence his investment prospects. Government policies, infrastructure announcements, project launches and deliveries, market trends, demand and supply information – awareness on everything make for a successful real estate investor.

Considering investment as full-time business
A serious investor never takes his investment as a second priority. He considers his investment as the most important thing. He has a clear focus, objective and strategy to enforce while putting money in the property market. He has a bigger picture in mind and several short and long term goals to achieve. Since property market in India is complicated, having fool-proof strategy keep investors community organised and on-track.

Goes only for ethical route of investment
Real estate investors know it all -- the ethical way of earning money and the illegal way of reaping benefits. However, serial investors refrain from unethical methods of real estate investment. Sometimes, it is really easy to take advantage of the situation but those who have been in this sector for long, maintain high standards, not because of the risk associated of being caught but because once abducted, it can leave a lifelong dent in the reputation and affect one’s goodwill in the business.

Keep focussed
Every real estate investor has a niche segment which he prefers. Diversification is very rare and requires portfolio management by a full-time real estate expert. An investor acquires mastery over the segment which he is interested in investing in. Whether it’s commercial, residential or even plotted development, an investor is a well-read individual and keeps account of every highs and low of a specific segment. This specialisation is a key to enter real estate market as an investor.

Be prepared for any eventuality
A professional real estate investor understands, however, small it is, there is always a risk associated with the property market. Not just in the beginning of the cycle, the money-maker keeps on evaluating the risk even during the cycle to estimate how beneficial his investment would be. Understanding of risk factors not just makes the investor more charged up to face the crises but makes him more resilient to the market.

Has a vast network
The Internet, newspapers and reports cannot give you all information about the real estate market. To get the ground report, an investor always has sources spread over the industry. If not sources, he socialises and creates a network with the people who are in the field and can serve him with the right kind of information. These can be real estate brokers, property consultants, architects or anyone who is a stakeholder in the real estate industry.

To be an investor in the Indian property market, it's not just the money you need but one has to be wise enough to judge the prospects of the market. It's not a hidden fact that crooks have plagued the sector and have duped millions of honest investors, but the smartness lies only in getting yourself educated about various real estate markets if you want to earn millions without falling prey to many.

28/10/2016

Fears, sorrows, intolerance and insecurities are like darkness. Trust, confidence, motivation, and beliefs are like lights. There is isn't anyway where the former triumphs the letter. Throw your darkness and celebrate lights. Happy diwali and a prosperous new year to all on behalf of NilBroker team.

11/10/2016

This , let there be light!

01/10/2016

Maharashtra government’s urban development department has decided to raise floor area ratio in Nagpur. (FAR is the ratio of the area of a building to the area of the plot on which the building stands. By raising FARs, urban local authorities allow real estate developers to build taller buildings, or to build more floor space. For example, a three-storey building that occupies the whole plot is permissible, if the FAR is 3.) The urban development department has also decided to lower parking space requirements, allowing real estate developers more freedom. But many argue that this will have a negative impact on the quality of life and development in the city. They think that raising floor area ratios in Nagpur will increase the stress on infrastructure, leading to road congestion. Is this true?

It is actually true that if there are more people, the burden on public infrastructure will be higher. If more people live in central areas of the city, road congestion and air pollution will be greater too, if they travel in cars. It is plausible that population density will rise if developers are allowed to build tall buildings, though need not necessarily happen. But there is no reason to assume that infrastructural growth should remain stagnant, while the population grows.

The urban development department wants to raise floor area ratios to allow Nagpur Municipal Corporation (NMC) and Nagpur Improvement Trust (NIT) to raise funds. NMC and NIT are facing a shortage of funds. So, if urban local bodies can get access to more funds by raising floor area ratios, why is it difficult to improve the infrastructure, allowing the city to handle the rising population and traffic congestion?

This is not to deny that raising FARs to allow urban local bodies to raise funds is problematic. In Indian cities, FARs are sometimes raised not to meet the growing demand for housing and office space, but for raising the revenues of municipal corporations. But, if FARs are raised primarily for this purpose, these are likely to be raised in areas where the infrastructure is in a poor condition. In areas where infrastructure is in a poor condition, population density is not likely to be very high. FARs should ideally be raised to allow the supply of residential and office space to rise enough meet the demand. Raising FARs in areas where infrastructure is poor and population density is low will defeat the purpose.

Nevertheless, there is no reason why urban local bodies cannot upgrade infrastructure. Infrastructure is not static. Just as residential and commercial development happens in a locality, infrastructure can improve, too. Often residential and commercial development outpace infrastructural growth because the growth of the private sector tends to outpace the growth of the public sector.

Even though it is possible that taller buildings will increase crowding and road congestion in roads, this will certainly reduce the crowding inside buildings. For example, crowding inside buildings will be greater when everyone crams together into a single floor, as against the same number of people spread throughout a building of 10 floors. So, it is not clear that raising FARs will increase crowding in all senses. Moreover, it is not clear that population density will rise if FARs are raised. In Mumbai, for example, the highest density is in areas like Kamathipura where buildings are uniformly low rise. Buildings are much taller in all developed countries of the world. But this has not led to greater crowding even though some of these cities are very dense, too. So, imagined disasters are not a reason to prevent FARs from rising in Indian cities.

26/09/2016

Development activities, particularly in the residential segment, in Bengaluru’s Electronic City has been rising steadily since few years now. Established by Karnataka Electronics (Keonics), a pioneer in IT infrastructure development, Electronic City offers residential accommodations at an extremely affordable rate with the average price of Rs 3,813 per sq ft. In spite of an increase in prices by 13.7 per cent, the Electronic City continues to impress homebuyers with presence of ample educational institutions, commercial complexes and robust connectivity.

Alluring prices

A 1BHK apartment is available for Rs 23.64 lakh, 2BHK for Rs 38.89 lakh, 3BHK for Rs 57.36 lakh while a 4BHK residential space is available for Rs 1.67 crore. A residential plot is available at a reasonable cost of Rs 47.22 lakh. The minimum and maximum prices of property is between Rs 2,100 per sq ft and Rs 5,400 per sq ft, respectively. Furthermore, properties on rent are easy on pocket. Clearly, people from varying income groups can find suitable E-City homes to suit their budget and preferences.

Ideal location

The Electronic City is located 18 kilometres from city central via the Hosur Road. Spanning across 332 acres, it is segregated into three different phases i.e. Phase I, II and III. E-City is also embraced by other localities such as mico layout, HSR Layout, Kammanahalli, Bommanahalli and Bilekahalli. There is a well-developed social infrastructure too entailing educational institutions like International Institute of Information Technology, shopping malls like Spencers Hyper Mart and Neo Mall and hospitals viz. Vimalalaya Hospital and The Apollo Clinic.

Proximity to IT hub

A business hub with some prestigious technology organisations viz. Wipro, Tech Mahindra, Hewlett-Packard, Infosys, HCL Technologies, Patni Computer Systems, CGI, Siemens, Genpact, Intel and Tata Consultancy Services are situated in the vicinity.

Efficient Transportation Network

A nine-km-long highway, which is an extensive elevated highway in India, connects the region to Silk Board. Metropolitan Transport Corporation Buses (BMTC) and International Airport Ltd (BIAL) Buses, an under-construction metro line from RV Road to Bommasandra as well as the presence of the international airport is 21.5 kilometres away via the Electronic City Flyover and Hosur Road — all enhance the connectivity of the region.

Plethora of options

As many as 265 units of residential spaces and 69 under-construction properties are on sale. Shanders Youlla, Kolte Patil iTowers Exente, Krishna Enterprises Goldfields and Skylark Royaume are some significant projects coming up in the locality which are worth investing in. Ajmera Villows and The Address Maker -- The Lake View Address some chief luxury housing properties in the area.

***

To know about more about Electronic City, read on...

The exponential growth in the price of real estate in Bangalore will turn many areas into ‘hubs’. For many reasons, Electronic city or e-city is on the top of the list of such hubs.

Apart from factors common to such hubs like high growth in property prices, high potential for growth, and large number of inventory, E-city has a few unique features that indicate that it is expected to remain a hot real estate market for very long.

Large tracts of land: Unlike many hot real estate markets in Bangalore, Electronic city is a planned township. Conceptualized as an electronics manufacturing hub, the government had reserved as much as 330 acres of land to the project in 1978. However, instead of being a manufacturing hub, it became an IT Hub that did not require much of the land that was reserved for the project. So, there is much land that is suitable for development in this area. In E-city, today, there are many IT companies and residential projects. But, the developments so far are merely part of Phase I of the township’s growth. The second phase is spread over 340 acres, and 122 acres were acquired for the third phases in the development of this area. In terms of development, the first phase is saturated at this moment, and the development of the second phase has begin. The growth has been enormous and these areas were divided into East and West. This indicates that much of the potential of this area is waiting to be tapped.

Growth in mid-income housing: Like many other areas in Bangalore, demand for mid-income housing in the E-city is growing. The E-city is known for its villas and other luxury projects. But it also caters to mid-income home buyers. This is expected to the key trend in the next four to five years, fueling construction activity. On average, currently, apartments in electronic city cost Rs 3,700 per sq ft. The price of mid-income housing prices range between Rs 2,800 to Rs 5,000 per square feet. Developers are now building 1 BHK apartments in electronic city with fewer fringes allowing them to be affordable.

Ever-increasing connectivity: In Electronics city, infrastructural growth is yet to reach a saturation point. Apart from highways and the 10 km long elevated highway that connects it to various parts of the city, Neeladri roadconnects Electronics city to the IT hub of Bannerghatta. The Metro Phase II is also transforming the transportation network in the city. Metro lines will increase the connectivity between E-city 1, E-city, Huskur Road and Hebbagodi.

Smart city project: E-city is also the testing ground for the government’s smart city project. Smart cities are expected to have intelligent systems powered by Cisco. A smart city will allow citizens to connect to public utility systems using WiFi. For example, a user can find more about parking availability in an area using a smart phone or see the weather updates displayed on their screen. This project, if successful, will transform the township yet again.

Commercial hub: E-city is not merely an IT Hub. It has many manufacturing companies too, like GE Power Tools, Tata Power and several biotech companies. With many companies building offices here, slowly, it is becoming an auto showroom hub. This indicates that E-city has the potential to become an integrated commercial hub very soon.

23/09/2016

public transport in India happens in buses. Even though India has Asia’s largest bus terminal, the services are not efficient. Buses are usually too congested and mostly run by government-owned transport corporations, though there has been more private participation since the economic reforms.

The government is involved in many things, including planning services, deciding bus routes, collecting revenues, granting licenses, and ensuring that buses meet safety standards. As the government is the primary law enforcer across the world, it won’t be easy to step out of the service of ensuring that buses meet safety standards. But devoting more staff and resources to planning and scheduling bus services and in deciding bus routes, the government is unable to carry out what many experts consider its primary responsibility.

Moreover, when the government decides bus routes and schedules services, this takes away responsibility from bus operators. This also discourages planning. A retail store, for example, is situated in a certain neighbourhood because the proprietor thinks that it makes business sense to do so. As a store is forced to be profitable or go out of business, there is great pressure on the proprietor to choose a location where there are enough potential customers. When the government schedules bus services and decides the routes, there is very little incentives for operators to plan. This is partly why bus services are so inefficient and do not meet the needs of people well.

To cite an example, in mid-2013, Haryana Roadways had only 110 buses on 15 routes. So, buses do not cover important routes in Gurgaon, and people are forced to find other ways to travel. There is a shortage of bus drivers, and no appointment was made in the bus depot since 1993. There are, of course, many unlicensed buses in Gurgaon, but these buses usually carry twice as many people as they ought to. There are also private buses provided by corporations. This is because there is great demand for bus services, but not enough buses to meet the demand.

Gurgaon is not an exception. Less than one-fourth of Indian cities with a population of more than half a million people have a city bus service. This is not because India is poor because many other developing countries with similar income levels have public transport that is twice as large, in scale. So, the reason is something else. This is because of low investment in mass transport, a taxation system that is skewed against investment in public transport and too, much regulation.

When there is not enough competition, the government is likely to provide bus stations even when they are not profitable. People are also more likely to overuse bus services because the fares are too low. Buses in Indian cities are usually overflowing because the fares are too low, by market standards. This makes the business not profitable enough for many operators. This also makes commuting very difficult for most people.

Private participation in bus services is not untried. In the UK, Philippines and Chile where private operators are allowed to innovate in providing better services, there is a wider range of services. Bus services are not truly competitive anywhere and transparency is not the norm anywhere. But whenever the government does not regulate the business too much, the quality of services are likely to improve.

21/09/2016

Pune west’s Wakad region, of late, has been the talk of the town owing to its rapidly developing residential market. Situated in Pimpri-Chinchwad district, the secret behind Wakad’s growing popularity is the residential destination’s direct connectivity to Mumbai through the Mumbai Expressway. Secondly, the emergence of business complexes such as the Infotech and Biotechnology Park at Hinjewadi close to the Pune Expressway makes Wakad a promising realty hub. NilBroker tells you why Wakad is a prime real estate hotspot.

IT hub in the vicinity

The neighbourhood at Hinjewadi houses several global IT companies such as Synechron, Infosys, Geometric Software, KPIT Cummins, Wipro, Siemens, Tech Mahindra, IBM, TCS and Cognizant, all of which are situated in the Rajiv Gandhi IT Park.

Seamless connectivity

Mumbai is just 80 to 90-minutes’ drive away from Wakad. The locality is well-connected through road and rail. The locality enjoys bus services of Mahanagar Parivahan Mahamandal Limited (PMPML) and connects to localities viz. Aundh, Pimple Saudagar and Pimple Nilakh. The nearest railway station is at a distance of 12 kilometres while the nearest airport is located 20 kilometres away. A flyover connecting Dangri Chowk to Nagar in Pimple Nilakh is also coming up in the area.

Finest social infrastructure

The presence of reputed schools and colleges provide a strategic advantage to the residents of Wakad. Educational institutions such as Indira School of Communication, D Y Patil Engineering College, Global Academy of Hotel Management and Kesari College as well as schools like Podar International School, International School, Dhaniraj School, M N P High School and High School make the locality lucrative. Shopping malls as well as healthcare centres namely Apex Hospital, Phoenix Hospital, Varad Hospital, Life Point Hospital and Tikone Hospital enhance the liveability index of Wakad.

Homes for every pocket

Although the average prices of a residential property have risen by 16.1 per cent in the past 41 months, yet there is a steady demand for homes in the region. 1BHK apartment is available for Rs 36.57 lakh, 2BHK for Rs 58.16 lakh, 3BHK for Rs 83.78 lakh while a 4BHK is available for Rs 2.05 crore. Apartments with sizes ranging from 280 sq ft to 6,094 sq ft have an average price of Rs 5,210 per sq ft. Shraddha Spaces Twin Towers, Mont Vert Vivant and Vastukalp Utkarsh are key projects in the affordable housing segment whereas Vastukalp — The Onyx, Kasturi Housing Epitome and Pride Purple Group Park Titanium are notable luxury housing projects in Wakad.

20/09/2016

With a large-scale construction activities taking place, disputes between buyers and developers, too, have increased manifold. This has led to a spike in legal battles. There are various platforms through which one can seek redressal, depending on the grievance of the homebuyer. NilBroker lists seven such common complaints of home buyers and its remedy.

Sub-standard work

In one of its orders, the Supreme Court held that if a developer uses poor quality material in the construction of a building or makes misleading representations about the condition of the house, it is the denial of the facility or benefit to the consumer.

In such cases, the allottee can file a complaint in the consumer forum pleading deficiency in services. In many cases, the forums have ordered developers to remove defects and compensate buyers. Alternatively, the buyer can also file a civil suit claiming damages for breach of obligations.

Construction without approvals

In cases where land has been sold without taking necessary approval of the layout plan resulting which timely possession could not be given to the allottee, the consumer forums have held that such an act deficiency in service on the part of the developer. In such cases, the develop can file a consumer complaint or a civil suit to seek refund and compensation.

Construction on illegal land

If the building has been brought up on illegally acquired land, the allottee can approach the consumer forum or the civil court to claim refund or ask or an alternate accommodation by the same developer. The apex court has held that advertisements inviting applications for allotment without having title to the land was unfair trade practice.

Change in land use or layout plan without the approval of the allottee

If the developer plans to undertake additional construction, which is not part of the original layout plan, he must get the consent of the allottee. In case the developer makes the changes, the allottee can send him a legal notice. If the developer does not respond, the allottee can file a complaint in the consumer forum or a civil suit. The allottee can also file a complaint before the Competition Commission of India if the developer is a dominant entity in the market.

Hidden charges

If as a buyer, the allottee is overburdened by the excessive hidden charges, he can file a civil suit. Alternatively, he can also file a complaint before the Competition Commission of India (if the develop is a dominant entity in the market) to plead that the developer is misusing his position.

Cancellation of booking or project

Many cases have been reported where after receiving the booking amount the developer has cancelled the booking or the project. In such a scenario, the allottee can send him a legal notice. If no solution emerges, the allottee can file a complaint in the consumer court or a civil case against the developer. A criminal case may also be filed.

Forfeiture of amount

The terms and conditions incorporated in the agreement between the developer and the buyer determine the refund of the booking amount. If the contract contains a clause that the developer has the right to forfeit certain percentage of the booking amount, there is no legal recourse. But, if the agreement does not contain any such clause, the allottee can issue a legal notice to the developer.
In one of its judgments, the consumer court has held that if the request for refund by the allottee is on the ground of considerable delay in possession of the apartment, the buyer can approach the consumer court seeking compensation at 18 per cent interest rate.

19/09/2016

On Road To Recovery: NHAI Fuels More Money For Smoother Ride Between Gurgaon-Jaipur

People who live in the national capital region and visit nearby places in Haryana and Rajasthan as their weekend getaways, do not find the ride as smooth as it used to be. The Gurgaon-Jaipur stretch of the National Highway-8 (NH-8) now acts as a speed breaker. Behind this is the National Highways Authority of India’s (NHAI) failure to carry out road widening and maintenance work. The rule that maintenance is far more difficult than building something does not have any exception, it seems. The road-widening work that began in 2009 kept seeing delays, as money crunch hit the highways authority.

Now, the NHAI board, according to media reports, has given its approval to infuse fresh funds to carry out the work. The authority will release Rs 300 crore for this purpose. The money will be used to finish three flyovers, foot over-bridges and installation of crash barriers along the entire 225- km stretch, apart from building service roads.

While the move has come as a breather for contractors engaged in the work, it will also help increase the value of the property along the stretch. According to subsequent reports by the NilBroker DataLabs, properties in the NCR form the highest part of the unsold inventory across nine major cities of the country. A better-functioning highway between the Rajasthan capital and the Millennium City may be a good start to attract buyers towards this stock.

18/09/2016

13 Precautions That A Prospective Home Buyer Should Take
September 16 2016 | SHAVETA DUA "Act in a haste and repent at leisure" is an age-old saying. This applies to home buying, too. To avoid a situation where you would have to repent, before buying a house, you as a buyer must do a thorough due diligence of the property.

Here are several precautions that one should take to avoid being conned by a scamster:

Don’t get carried away by glossy advertisements or offers and ink a deal in haste. Do a relevant ground work before you sign the dotted line.
You must gather all the necessary information on your own before zeroing-in on the home.
Don’t sign papers that you can’t comprehend. Take help of a lawyer instead.
Never show blind faith in the lender or the bank regarding the approval of the project against which you are applying for a loan.
As a prospective buyer, you’re within your right to demand documents of land record, title deed, authority or municipality approvals and other similar documents from the seller.
Verify the original documents of the property, including the development agreement between the land owner and the developer.
You must also check the local byelaws to verify any issue with the building.
It is advisable to buy a house in a building which has the occupancy certificate. This means one should avoid investing in an under-construction property.
It is also important to verify if the developer has obtained non-agricultural permission for the land from the authorities concerned.
Apart from scrutinising the sale deed, you must confirm the transfer fee, stamp duty and registration charges to be paid with the seller.
The legal scrutiny of the title in reference to sale deed, mother deed, allotment order from urban bodies, land development body, original gazetted layout sanction papers, etc., should also be cross-checked.
It may also be worthwhile to notify the transaction in local newspapers before closing the deal

Nilbroker.com

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