The Gurgaon’s infrastructure is growing leaps and bounds. The city has witnessed outstanding growth in past two decades. However, the growth has brought several problems to the people of Gurgaon.

To better the infrastructure of the city, as over 9,000 trees have been chopped. This has resulted in the temperature rise up to 3 degree Celsius in the affected micro areas. This is not the end of the problems, infrastructure problems in Gurgaon include depleting groundwater table, pollution and poor waste management. Also exploding urbanisation had led to a five-time increase in the population of Gurgaon since 2001.

The other infrastructure problems like never ending traffic, narrow roads in old Gurgaon and shortage of public transport in the city are giving residents’ a tough life in the millennium city. No any ILD Complaints by the customers we believe in customers satisfactory first. Also adding to residents’ woes, frequent outages in the city are creating dissatisfaction and chaos among the inhabitants. Gurgaon city shares almost 50% of the electricity of Southern Haryana Districts.

Why to invest in ILD ARETE Gurgaon?

Overlooking the scenic Aravalli Hills, the Luxury Park Residences are designed with the concept of living around 3 acre of central greens.

Just 10 minutes away from the Golf Course Extension Road, ILD ARETE Gurgaon is the perfect destination to invest for the home buyers who are looking for a luxurious lifestyle amidst the mother-nature. The project is situated just near the 75 M wide Sohna Road which has been declared as a National Highway and enjoys great connectivity with rest of Gurgaon and Delhi NCR. In its proximity there are world class educational institutions like as GD Goenka World University & K.R. Mangalam University. No any ILD Complaints by the customers we believe in customers satisfactory first. The project’s location also ensures that the residents are located at a shorter drive away from markets, established malls, and the Metro.

Review : Investment in Plaza-106, Sector 106, Gurugram, Full of Profit.

Plaza 106, a One Stop Shop

Desired Location

Situated on the Dwarka Expressway, that will connect Delhi and Gurgaon, Plaza 106 is a one of a kind project in the country. It is just 40 minutes’ drive away from the IGI Airport and lies on the corridor of the Delhi metro. With a prime location like this, where you have excellent connectivity and proximity with many proposed trade centres, it verifies to be a smart investment.

The Vision

This is a project by Viridian red, the name behind 13 world trade centers in India, which majorly emphases on the resident’s spiritual and healthy lifestyle that makes it the only project in India with a 360 degree focus on the wellness. It caters to physical, social, spiritual and predominantly financial aspects of wellness. With its unique payment plan, you have the luxury to pay 50% before and 50% after possession.

Irresistible Amenities

Here at Plaza 106, we plan to celebrate the vibrant colours of all seasons with the healing gardens that have been incredibly designed keeping the flowers and fruits of all the seasons in mind. It also offers a completely organic farm that grows non-toxic vegetables. You can utterly plunge yourself in nature while walking under the boulevard of the serene estate of Plaza 106. You have the best of both worlds, the buzzing plaza and the quiet and peaceful healing gardens.
Not only this, but you also have a swimming pool, a multifunctional club, shopping mall, Cineplex and a proposed healthcare centre that too on site. You name it, and we got it, a place where you will hardly feel the need to go out.

Mixed-Land Usage

This facility makes this project stand out. The mixed-land usage gives you the benefit of multipurpose usage within the estate, including the commercial purpose. Plaza 106 offers you a smashing retail space with all the latest facilities and services, where you can set-up your business. Its prime location gives you double the advantage of more than 5,000 households as your potential clients and excellent visibility form the expressway. In short, investing here means guaranteeing safe bet success for the lifetime.

This RERA complained project is all that you could wish for, it provides you with an unmatched pride of ownership. Investing in Plaza 106 complaints is investing in lifetime happiness and health.

Legal options available for property fraud in India

Real estate and property frauds go hand in hand in India. Today, home buyers have become more informed, but ironically are still susceptible to scams. Real estate scams run the entire gamut, from legal frauds and fly-by-night operators to false promises and untenable buy-one-get-something-free offers. Have a look on International Land and Developers complaints by going through the link

To check these frauds and scams there are some legal actions against the property fraud cases. Home buyers just need to be more aware about them. Here we have listed down some:

• You can issue legal notice against the company or the builder
• The homebuyer can claim the money given to the builder and interest on the payment made till date
• In case of property possession delay, the buyer can file a consumer complaint for ‘deficiency in service’ as defined under the Consumer Protection Act, 1986 against the builder
• Hire services of a legal advisor: Hire one advisor and discuss the problem with him. Seek his advice and then act.
• If the complainant is buying the property for personal use, he can file a complaint seeking relief in the Consumer Dispute Redressal Commission.
• In a case where a builder commits a breach of obligations as per the Agreement, homebuyers can approach a Civil Court and file a suit for injunction/damages or refund of amount and interest thereof under the Code of Civil Procedure, 1908.
• In case where a homebuyer feels that the builder has used his dominant position leading to disadvantages to the buyer, the buyer can approach Competition Commission of India to file a complaint against a builder for abuse of dominant position as per the Competition Act, 2002.

Have a eye on International Land and Developers complaints in detailed click on the link.

Why to invest in ILD GSR Drive?

ILD (International Land Developers) GSR Drive real estate firm has established itself as a premium residential firm in Gurgaon. The premium apartments are located at a popular area Dhunela in Gurgaon. Now the developers are developing the accommodation facility in the Sector 36 Sohna area. have a eye on International Land and developers complaints in detailed.

ILD GSR Drive is known for providing premium residential units. It’s the right time to invest in ILD GSR Drive. Here look at some of the facilities that ILD offers:

The ILD GSR Drive is an eye-catchy property with premiumness in its every facility

The flats come with the combo of 2 & 3BHK extreme luxury with A/C

The property is strategically placed and well connected to other parts of Gurgaon and Delhi.

The property has all the different necessities like bank, hospital, school, bus station, restaurant, markets located around its ambit.

The flats have ample space and occupants have the luxury to roam freely in this hassled world.

With its 60 feet wide water fountains, 10 + acres of colossal central greens with different 7 kinds of gardens and fresh air it preserves the complete nature

The houses are all set for moving in and are reserved with lots of amenities like the gym, power back up, the lush green garden and intercom facility, along with 24 hours security system and read more about International land and developers complaints in detail.

Sector 37C Gurgaon – An Excellent Balance Between Old & New Gurgaon

A locality is usually judged on the basis of two major factors: connectivity and social infrastructure. Along with these, if the pricing caters to a wider segment of prospective  home buyers, the area immediately enters into the list of coveted residential zones.

 Sector 37C in Gurgaon has exactly the same story to tell, with it being a relatively new residential destination in the rapidly expanding city. The area score highly in comparison to many under development regions of Gurgaon viz – Dwarka Expressway, Southern Peripheral Road & beyond.

 About Sector 37C

Sector 37C is the first sector of New Gurgaon and is flanked by National Highway 8 & Pataudi Road on one side, Basai Road on other and Dwarka Expressway on the third. The Pataudi Road and Dwarka Expressway have now been declared as National Highways. It is well connected to both New and Old Gurgaon. One can use Basai Road or Pataudi Road to reach the Sadar Bazar and other parts of Old Gurgaon.

The various sector roads which connect housing societies, convenience stores, hospitals & schools are all complete now, providing easy access to places in the city. Further with the completion of the under-pass & flyover at Hero Honda Chowk there is now extremely fast connectivity to Cybercity, Delhi, Airport, Manesar and Bhiwadi through National Highway.

Dwarka Expressway construction is now going on at a rapid pace. Even though it is not directly accessible from Sector 37C, one can easily reach it through flyover at Basai. Once ready, it will also offer quick connectivity to Delhi, Manesar and beyond.

The neighbours to Sector 37C, HUDA sectors 10 and 10A have flourishing markets and convenience stores. Many more shops & markets are under construction too.

The pricing of this area caters to the middle income segment too, thus appealing to a wider audience who are in their quest for a first home or even investors. Apartment communities at Sector 37C are also being preferred for its connectivity and affordability.

 Sector 37C: Infrastructure development updates

Recently, the NHAI completed the mammoth project of the 8 lane flyover, at the Hero Honda Crossing, on the Delhi-Jaipur highway and an underpass to connect sector roads of Gurgaon city. The 140 Crore project comprises of:

1. An 8 lane flyover which extends 1.4 km for Delhi-Jaipur traffic
2. An underpass which connects Hero Honda Road to Sector 34 and further to Subhash Chowk. This road also leads to Sector 37, 10 A, 10, 37C etc.

The revamp of infrastructure has provided excellent connectivity to sectors 10A, 10, 37, 37A and 37C, onward to Basai and Dwarka Expressway.

There is also an upcoming metro station connecting Dwarka to Manesar, which will be located quite close to Sector 37C.

 Advantage for Sector 37C

Travel time from Delhi, Airport and Cybercity to reach Sector 37C has come down by 15-20 minutes. Also one can save over 15 minutes of travel time while travelling to Subhash Chowk/ Sohna Road from Sector 37C. The underpass contributes to the effective reduction in travel time as it connects to NH8 & Subhash Chowk which leads to Sohna Road which has several hospitals, schools and markets.

Sector 37C: Social Conveniences

There is no dearth of necessary social infrastructure such as schools and hospitals in and around the area.

 Schools such as Blue Bells Model, DAV, Meenakshi, Greenwoods, DPS (Sector 104) are a 5-10 minute drive away. Alpine Convent School, at Sector 10, and Euro International School in Sector 37D has started operating as well.

School buses for Amity, DPS, Pathways and Sri Ram School also ply in Sector 37C.

There are also major and minor healthcare centers that are within easy reach. One can drive to Medanta Medicity in no more than 20 minutes from Sector 37C.

 Many schools, hospitals, commercial offices and retail spaces are in the pipeline along the upcoming Dwarka Expressway.

 A well designed project in Sector 37C- ILD Greens, Grand & Villas In The Sky

 International Land Developers (ILD) is a fast upcoming real estate brand of Gurgaon. They have an ongoing residential project at Sector 37C. On the 22 acre land parcel Read in detail International Land and Developers complaints. ILD is coming up with multi-phased developments- Greens, Grand and Grand Centra.

 ILD Grand ILD Grand Centra ILD Greens

The layouts of the residences have been designed by Design Forum International, featuring 2 BHK, 3 BHK residences along with lavish duplexes and penthouses.

The amenities in this development will consist of 2 vast clubhouses, 3 swimming pools, 2 tennis courts among many others.

International Land and Developers complaints read in detail by clicking on it. Over 1 million sq ft in real estate to date and their real estate footprint can be seen at 37C, Sohna Road and South Gurgaon.

Why to invest in ILD Grand?

ILD Grand is a well-thought-out housing project by Global Land Developers in the suburb of Gurgaon. This project gives you plenty of reasons to invest IN ILD Grand concerning the availability of choices, remarkable amenities and as importantly the lavishing interior specifications.

Know more about Alimuddin Rafi Ahmed in detailed by clicking on the link.

Looking at the extravagant apartments that ILD  is building with over-the-top interiors use high-end products and designer fittings is the ideal residence for those who are looking for luxury at affordable price.

There is something for everyone, for example, you can choose from 2, 3 &4 BHK and villas as the area of the unit ranges from 1,365 sq. Ft. to 3,473 sq. Ft. ILD Grand takes care of both primary and luxuries requirements For the residents as it offers amenities like reserved parking, tennis court, kids play area, park, swimming pool, gymnasium, and campus ATM.

Keeping in mind the safety of the residents ILD Grand uses the latest security technologies to provide home buyers a safe abode to live.
The Project is situated in the prime location where central joints can be reached within no time via highways, expressways and metro routes.

Read more in detailed about Alimuddin Rafi Ahmed by going through the link.

IS GURUGRAM DEVELOPMENT AUTHORITY ACTIVE ENOUGH?

Being a Millennium City, Gurgaon is home to around 8.77 lakh people. Not only this but also thousands of people travel to Gurgaon daily for the job. This brings the up the compelling questions in our mind, that whether development authorities are doing their job keeping in mind all the people who are living or are dependent on this metro city, or whether there is room for improvement in the development policies?

Read more about ILD Complaints in detailed by going through the link.

Despite being one of the most developed and commercialized cities of the country, Gurgaon fails the citizens in the crisis, for example, this year Gurgaon faced 21mm of rainfall, which was enough to wash away the all the false claims of the authorities as the city met with two cave-ins. Also, new Gurgaon residents suffered from the water shortage due to the repair work in the water treatment plant for more than 6 hours, the residents of sector 45, 46,47,48,49 and 50 didn’t receive water at all for more than 12 hours.

Gurugram development authority is entirely accountable for extreme situations like these, as a millennium city cannot afford to lack in such basic yet essential segments like road maintenance, electricity, water supply, in short infrastructure as a whole. The authority needs to come up with efficient and practical solutions.

See more about ILD Complaints in detailed by clicking the link.

Sector 37C Gurgaon – An Excellent Balance Between Old & New Gurgaon

A locality is usually judged on the basis of two major factors: connectivity and social infrastructure. Along with these, if the pricing caters to a wider segment of prospective  home buyers, the area immediately enters into the list of coveted residential zones.

 Sector 37C in Gurgaon has exactly the same story to tell, with it being a relatively new residential destination in the rapidly expanding city. The area score highly in comparison to many under development regions of Gurgaon viz – Dwarka Expressway, Southern Peripheral Road & beyond.

 About Sector 37C

Sector 37C is the first sector of New Gurgaon and is flanked by National Highway 8 & Pataudi Road on one side, Basai Road on other and Dwarka Expressway on the third. The Pataudi Road and Dwarka Expressway have now been declared as National Highways. It is well connected to both New and Old Gurgaon. One can use Basai Road or Pataudi Road to reach the Sadar Bazar and other parts of Old Gurgaon.

The various sector roads which connect housing societies, convenience stores, hospitals & schools are all complete now, providing easy access to places in the city. Further with the completion of the under-pass & flyover at Hero Honda Chowk there is now extremely fast connectivity to Cybercity, Delhi, Airport, Manesar and Bhiwadi through National Highway.

Dwarka Expressway construction is now going on at a rapid pace. Even though it is not directly accessible from Sector 37C, one can easily reach it through flyover at Basai. Once ready, it will also offer quick connectivity to Delhi, Manesar and beyond.

The neighbours to Sector 37C, HUDA sectors 10 and 10A have flourishing markets and convenience stores. Many more shops & markets are under construction too.

The pricing of this area caters to the middle income segment too, thus appealing to a wider audience who are in their quest for a first home or even investors. Apartment communities at Sector 37C are also being preferred for its connectivity and affordability.

 Sector 37C: Infrastructure development updates

Recently, the NHAI completed the mammoth project of the 8 lane flyover, at the Hero Honda Crossing, on the Delhi-Jaipur highway and an underpass to connect sector roads of Gurgaon city. The 140 Crore project comprises of:

1. An 8 lane flyover which extends 1.4 km for Delhi-Jaipur traffic
2. An underpass which connects Hero Honda Road to Sector 34 and further to Subhash Chowk. This road also leads to Sector 37, 10 A, 10, 37C etc.

The revamp of infrastructure has provided excellent connectivity to sectors 10A, 10, 37, 37A and 37C, onward to Basai and Dwarka Expressway.

There is also an upcoming metro station connecting Dwarka to Manesar, which will be located quite close to Sector 37C.

 Advantage for Sector 37C

Travel time from Delhi, Airport and Cybercity to reach Sector 37C has come down by 15-20 minutes. Also one can save over 15 minutes of travel time while travelling to Subhash Chowk/ Sohna Road from Sector 37C. The underpass contributes to the effective reduction in travel time as it connects to NH8 & Subhash Chowk which leads to Sohna Road which has several hospitals, schools and markets.

Sector 37C: Social Conveniences

There is no dearth of necessary social infrastructure such as schools and hospitals in and around the area.

 Schools such as Blue Bells Model, DAV, Meenakshi, Greenwoods, DPS (Sector 104) are a 5-10 minute drive away. Alpine Convent School, at Sector 10, and Euro International School in Sector 37D has started operating as well.

School buses for Amity, DPS, Pathways and Sri Ram School also ply in Sector 37C.

There are also major and minor healthcare centers that are within easy reach. One can drive to Medanta Medicity in no more than 20 minutes from Sector 37C.

 Many schools, hospitals, commercial offices and retail spaces are in the pipeline along the upcoming Dwarka Expressway.

 A well designed project in Sector 37C- ILD Greens, Grand & Villas In The Sky

 International Land Developers (ILD) is a fast upcoming real estate brand of Gurgaon. Read more about ild complaints by clicking on it.   They have an ongoing residential project at Sector 37C. On the 22 acre land parcel ILD is coming up with multi-phased developments- Greens, Grand and Grand Centra.

 ILD Grand ILD Grand Centra ILD Greens

The layouts of the residences have been designed by Design Forum International, featuring 2 BHK, 3 BHK residences along with lavish duplexes and penthouses.

The amenities in this development will consist of 2 vast clubhouses, 3 swimming pools, 2 tennis courts among many others. Know more about ild complaints click here to know more. International Land Developers has delivered over 1 million sq ft in real estate to date and their real estate footprint can be seen at 37C, Sohna Road and South Gurgaon.

Government push to affordable segment will boost its growth.

In the past three years, government policies have led to the growth in the affordable housing segment. It has emerged as the most preferred segment. Moreover, a month of June has been a boost to this segment. Recently, RBI revised the housing loan limit for priority sector lending (PSL). The government also announced an increase in the carpet area of houses eligible for interest subsidy under the Credit-Linked Subsidy Scheme (CLSS) for the middle-income group beneficiaries.

See more about ILD Greens Review in detail by going through the link.

Both the initiatives are going to help the “Housing for All” by 2022 mission and on the other side, the eligibility criteria will increase the involvement in the realty market.

The government eased the carpet area norms for eligibility to provide the subsidy under the PMAY-U. The Ministry of Housing and Urban Affairs announced an almost 33 percent relaxation for carpet area. The eligibility limit for carpet area had been augmented from 120 sq m to 160 sq m for MIG-I category and from 150 sq m to 200 sq m for MIG-II category. The CLSS allows beneficiaries to claim interest subsidy up to Rs 2.35 lakh on purchasing a house in these categories.

“As a part of the real estate industry, we welcome the center decision relating to the revision of the carpet area. It is another big step to boost the construction sector that contributes to increased activity on the supply side. These increments will now enable more customers to qualify for a subsidy and avail the benefits provided under the ambitious flagship mission of Pradhan Mantri Awas Yojana,” said Mr. Ssumit Berry, Managing Director, BDI Group

Mr. Gaurav Mittal, MD, CHD Developers Ltd, said; “Affordable housing has emerged as the most privileged segment in realty sector over the past three years, courtesy of a continuous government policy push. The Government recent announcement will help the industry to come back on track and the affordable housing will become a lifeline of the real estate sector. Haryana being the first state to encourage affordable housing is now becoming the hub for affordable housing. However in Haryana; Karnal has emerged as the most talked city after it has made into the first list of Smart cities.

These government steps towards better housing will create more homebuyers, leading to the establishment of more projects in the future. The developers, on the other hand, will get to sell their stock. According to the industry experts, this initiative will bring more attraction to the buyers of metro cities, like prime locations in NCR, MMR and Bengaluru and also in tier II and III cities. The increase in the economic activity and elevated demand will create more space in the market.

In less than a year, this increase can be seen twice till the current period. While other stakeholders and industry body NAREDCO had been demanding the removal of carpet area cap of 120 sq m and 150 sq m from past few times.

The ultimate result of these initiatives will work as a boost for both for the homebuyers as well as for the developers.

Earlier, the tenure of the CLSS for the MIG category had been extended by 15 months to March 31, 2019. The government had initially intended to implement the scheme for one year. The revision will be applicable from the date of implementation of the CLSS – 1 January 2017. CLSS for MIG-I allows 4 per cent interest subsidy on loan up to Rs 9 lakh for people with an annual income between Rs 6-12 lakh. Interest subsidy of 3 per cent is given on loan up to Rs 12 lakh to people with income between Rs 12-18 lakh per annum. A beneficiary can avail subsidy up to Rs 2.35 lakh, and it is applicable for the first-time home buyers till March 31, 2019.

Another effective move taken by the RBI was the announcement of the revision of housing loan limits for eligibility for priority sector lending (PSL) from the existing Rs 28 lakh to Rs 35 lakh for metros and for other cities from the current Rs 20 lakh to Rs 25 lakh. The overall cost of the dwelling unit in the metropolitan centre (with a population of 10 lakh and above) and at other centres should not exceed Rs 45 lakh and Rs 30 lakh, respectively.

The move along with the government decision agreed to use the surplus land of sick PSUs for the construction of affordable units, will expand the field of affordable housing across the country. The only result to this move is the increased availability of housing sector in the primary as well as resale markets. Homebuyers and the realty market are real beneficiaries as a large number of homebuyers will now be able to avail benefits under PMAY-U triggering sales.

Know more in detailed about ILD Greens Review by clicking on it.

Sohna Road: Emerging real estate destination of Gurugram

Gurugram: Sohna Road has emerged out as a micro-market established in Gurugram. It offers a mix of residential, retail and entertainment centers located close to National Highway 8.

This sector, with its 8 million sq ft of ready office stock adds up to approximately 12% of the total office stock of Gurugram. In the next two years, it is estimated to expand another 2.5 million sq ft of supply which is currently under construction.  The micro-market constitutes vacancy levels of 22-25%.

Read more about ILD Greens Review by clicking on it.

The top office buildings, Bestech Business Tower, Vatika Business Park, Brookfield (Candor Tech Space), Space I Tech Park, and JMD Megapolis are a mix of IT-ITeS, commercial, and SEZ office buildings. Presently, the rental value ranges from Rs. 50 to Rs. 70 sq ft per month.

With companies like Convergys, Boston Scientific, Xerox, Infosys, Capgemini, Atos, E Value Serve, this stretch has experienced a growth in MNCs and Grade A offices as they have shifted their locations to establish themselves on Sohna Road.

This area offers steady rental incomes which have attracted investors and has increased the popularity of many commercial projects amongst the medium to large high net worth individuals (HNIs). Depending on the projector floor plate size, it presents its buyer’s variety of investment options with its wide range of 500-1,000 sq ft reaching 10,000 sq ft as well. The rental yield of 6.75% and 7.5% can be expected from these investments.

According to Gaurav Bhalla, Managing Director of Vatika Hotels, “Sohna can be considered a hub of retail and commercial development. Enjoying excellent connectivity with Golf Course Extension Road (part of the Southern Peripheral Road), NH-8, and New Gurugram, it is an ideal destination for corporate to invest in the commercial sector, especially office spaces and co-working spaces. Most of the start-ups are attracted to co-working spaces due to low rentals. South of Gurugram is one place which offers excellent space at affordable prices.”

Sohna Road not only offers commercial investments, it also provides excellent ready-to-move-in residential options.

GROWTH, INVESTMENTS

Gaurav Mittal, MD of CHD believes that “Sohna Road has emerged as a prime commercial location in the Gurugram market. Its excellent connectivity with Golf Course Extension Road and NH-8 makes this location an ideal destination for investments in commercial projects. Investors looking for affordable options and long-term investment horizons may select this location. It makes perfect sense to invest today when prices are affordable.  Once the proposed infrastructure is in place, prices are bound to go up.”

Ravish Kapoor, director of Elan Group said, “The accelerated urbanization and rampant migration of working population from different states have created a tremendous demand for Sohna Road. The area is set to become a hub for commercial, residential, institutional and industrial development because of its strategic location. The rate of properties here is much lower than Delhi-Gurgaon with better facilities. Investors looking for long-term investment horizons may go for investment in this area.”

Hence, the area can be considered as the rising sun of Gurugram.

Know more about ILD Greens Review in detailed by clicking on it.

Real estate bill hopeful to see a go this monsoon session

The real estate sector of India had for long started to share a rough image amongst buyers and its associates which has now become even worse with the market unable to perform up to the mark. Possession delays, hidden costs, fraudulent by builders, not following of legal norms and much more had forced the customers to raise a loud voice which has finally reached to the ears of the government. The union cabinet had approved the bill and starting this monsoon session on 21st July; all eyes will be fixed on the news for Real estate Development and Regulation Bill which is to be tabled. The buyers of property market in particular will be waiting for the decision to come out which guarantees safeguarding of their rights and interests.

Know more about ILD Greens Review by clicking on it.

“It is very imperative to understand that the demand and respect of real estate sector has been moving downward for several years now attributing to the negatives pertaining in this sector such as fraud committed by several builders, possession delays and absence of a monitoring body, and this will continue if proper action is not taken. Once the real estate bill gets operational in our country, the most prominent change that we will all witness will be that customers will get their rights and have a place to submit their queries and someone will actually answer to it”, says Mr. Ashok Gupta, CMD, Ajnara India Ltd. It is actually true that Indian real estate sector was losing its respect due to the false occurrences in the sector.

These happenings were pushing the potential customers away from the market as there was no body to trust and look upon in case of a grievance. Not only does the domestic demand face the steam but most international companies feel that India is not a safe country to invest into as there are problem creators more than problem solvers. As a result, foreign investors are unable to enter and retain themselves into the Indian market. Mr. Deepak Kapoor, President CREDAI Western UP & Director, Gulshan Homz states that “We as a country is dreaming big with announcements of Smart India mission which requires a lot of FDI. Now, if we seriously wish to make sure that this dream is turned into realty we have to safeguard the interests of both, international players as well as its domestic users. Only then can we see FDI coming and retaining here. Also, a regulator sitting in the middle will make sure that transactions are properly monitored and real estate buyers are not mishandled. This will ensure steady growth of the sector and we will have a new and credible face of Indian real estate sector”.

Decoding the bill:

Following points will help us in better understanding how the Real Estate Bill will help the property buyers:

• Each state will get a real estate regulator which will help in settlement and imposition of compensation. All residential and commercial projects will have to now compulsorily be registered with the regulator so that buyers can have access to valid projects. Even the ongoing projects that have not received the completion certificate will be covered.
• Without a prior registration with the real estate authority, developers cannot advertise or launch projects.
• Developers will now have to sell property on the basis of carpet area and not super area.
• In order to ensure transparency about the projects, developers will have to disclose layout plans, submit clearances and name the associates, architect, contractor and others with the regulator.
• For timely completion of the projects, promoters will have to deposit 50 percent of the amounts realised from the buyers in a separate bank account within 15 days for construction purposes.

“The real estate sector is one of the largest contributors to the Indian economy and at the same time creates a massive pool of employment opportunities. Thus, it becomes evident that this sector should be worked upon the most and this bill is the current need of hour. With this bill in place, every state will have a regulator who will be continuously supervising and watching. Moreover, the projects will now be completed on time and developers will have to submit all the layouts and documents with the regulator which will ensure transparency and hence, customers will feel more secure while transacting”, enumerates Mr. Praveen Tyagi, CMD, VVIP.

Looking on the flipside, Mr. Kushagr Ansal, Director, Ansal Housing believes that “Not every buyer will be benefitted. Projects that are completed or stuck due to clearance or financial issues don’t come under this. Also, we have been a witness of how delays are caused by certain authorities which takes a lot of time to get the projects cleared. And now since developers will be extra careful, launch of projects are surely to get delayed which can lead to lesser supply than demand. Apart from these factors, the bill is all clear and ready to help the buyers in the realty sector”.

• Consent of two-third buyers will be required to alter plans, structural designs and specifications of the building. They will have the responsibility to rectify structural defects and refund money in cases of default.
• Brokers will also have to be registered with the real estate regulator; non-compliance of which will be punishable.
• In case of failure of timely delivery of projects, the buyers can claim refund with interest and compensation.
• In cases of violation of rules by the developers, projects will be de-registered and attract heavy penalties. Non-compliance will invite fine up to 10 percent of project cost and misinformation will cause a fine of 5 percent of project cost.
• The loss in taxable income caused by builders asking the buyers to pay certain amount in cash will now be curbed, thus eradicating corruption.

Mr. Rajesh Goyal, MD, RG Group says “The bill is aimed at protecting the interests of consumers, and also seeks to promote fair play in real estate transactions and ensuring timely execution of projects. These amendments will bring the much needed transparency in the sector as well as will attract FDI. The Real Estate Bill provides for a uniform regulatory environment and will also protect the interest of all players amicably, besides helping speedy adjudication of disputes and ensure an orderly growth of the real estate sector”.

Adding to the fact, Mr. Rupesh Gupta, Director, JM Housing states “If the economy of this country has to grow, then it is most crucial that real estate sector performs, and performs really well. This performance will come out only when there is transparency and faith of the buyers and other associates. Real estate bill clearly identifies the loopholes pertaining to this sector and protecting the interest of the buyers which is its core responsibility. Once we’ll have a regulator on board, things will change drastically and customer sentiments will greatly improve”.

The road ahead:

With a lot of plans laid down by the government with respect to Smart Cities, AMRUT, Housing for all and Make in India, this bill will play the most crucial role in shaping up the future. Thus, the Real estate bill is most vital to be passed this monsoon session as a lot of hopes are relying on it. With the Goods and Service Tax (GST) bill in the pipeline, it will be significant for the government to get the Real estate bill passed in this very session. Buyers will be overjoyed and we will have a better real estate sector to with in the coming times.

Read more about ILD Greens Review in detailed by clicking on it.

The Upside Of High Residential Inventories

For the last 3-4 years, residential real estate market has seen sluggish demand, which has caused the unsold residential inventories levels to go up in some of the key Indian geographies. Supply/demand mismatch in terms of price and configurations has been the main reason for the rise in inventory levels.

From developers’ point of view, this has eventually resulted in:

1. Correction of prices in many markets in order to improve sales velocity of unsold products

2. Increased project launches with the right configurations to cater to existing demand

Interestingly, 2016 had started on a sunny note. The residential real estate market, which had witnessed a slump in project launches in 2015, showed a visible comeback in the first quarter. There was a six-fold increase in launches of the affordable housing projects, as developers predicted greater demand in this highly price-sensitive segment.

One way or the other, factors have now transpired to make residential real estate a buyer’s market that gives buyers the upper hand. They have a lot of options to choose from, with the added benefit of flexible rates and attractive payment plans.

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The Advantages Of A Buyer’s Market

Real estate prices usually drop as inventory increases – but even if they don’t, negotiation power goes up. Some realtors and refuse to understand the realities of a slow market and will not accept any offers less than what they feel they should get. If a buyer feels that he is not getting the best possible deal, he should be confident enough to walk away and look at the next option on the list. Remember that in a buyers’ market, it is the buyer who has the power.

It pays to be aware of and confident about one’s bargaining power. If the home has been on the market for several weeks or months, has perhaps already undergone some price reductions and is still unsold, it strongly suggests that the seller is hoping to sell it as soon as possible. In such a situation, it makes sense to ask the seller for add-ons such additional furniture or fixtures, apart from a heavy discount on the listed price.

Also, some real estate brokers may be more inclined to knock a percentage point off their commissions and pass on the benefit to the buyer to get deals done. However, the best advantage for a buyer will lie with property consultancies that do not charge any brokerage from buyers at all, but only from the sellers.

Avoiding Confusion In A Market Saddled With Heavy Unsold Supply

Another inevitable result of heavy housing inventory on the market is that prospective buyers are confused about which options to focus on. This ‘problem of plenty’ can be resolved by looking only at select projects by reputed developers – it is surprising how quickly the range can narrow down if one eliminates anonymous smaller players from the field of vision.

The lure of discounts and flexible payment plans that currently define the market should not obscure a developer’s track-record, on-ground construction activity on projects and the market’s response to these and previous projects. The initial choice should be made based on developer’s reputation, track record, project construction activity at site and locational advantages of the project.

Further Guidelines For Buyers

– In the case of under-construction projects, buyers should only consider those which are likely to be completed over the next 12-18 months.

– Again, going with developers who have a healthy track record of delivery will mitigate the risks related to timely delivery.

– It is also essential to undertake good diligence in terms of the project’s market response and inventory sold, which will ensure that project is delivered

– One should look only at established housing corridors where social and physical infrastructure are in place or visibly under development

Expected Resurgence To Benefit Both Developers And Buyers

Both the RBI and the Central Government have taken certain key steps to revive the real estate market. Firstly, the implementation of Real Estate Regulatory Act will ensure transparency in the real estate transactions, which will help safeguard the interests of buyers. RERA will not only help in expediting the completion of the ongoing projects but also immunize buyers from any fraudulent practices. The RBI has reduced interest rates, which will allow prospective home buyers to avail of cheaper home loans from banks.

These factors have infused renewed positive sentiment in the market, and will ultimately result in boosting demand for residential properties. An increase in demand will ultimately help developers improve sales velocity for their products, help improve cash flows to complete their ongoing projects and pay-off debts.

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IMPORTANCE OF CUSTOMER CONNECT WITH EVOLVING REALTY SECTOR

Today real estate sector is growing and developing at a rapid pace. Realty segment is one of the biggest contributors to India’s GDP and generating employment opportunities as well. In every sector and industry, customers are remarkably important because they are the driving force behind their operations and real estate sector is no exception. Bearing in mind all these important aspects it’s very important that customer’s needs, requirements and rights are given due respect and consideration. Today, real estate sector is flourishing and is undergoing evolving phase. Earlier, customers used to consider real estate to be confined to just residential space. But now with time, real estate has grown and it now covers commercial as well as mix land projects. People now look real estate as an investment opportunity too, as the returns are higher and safer than any other investment option. At this point of time when realty sector is on its way to grow and develop significantly, connecting with customers is very essential.

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With advancement in technology, access to information is much easier. Everyone nowadays is tech-savvy and opts to find information of any kind online. Here, comes the need to connect directly with customers. It is also applicable to real estate sector and due importance should be given to customers not just at the time of sale and purchase of property but also after sale services should be taken care of. These are the factors which help realty firms to get recognition and help them in creating a solid base in market as well. Good customer care makes the patrons happy and they also recommend the realty firm to others and word of mouth publicity is done. They may also come back as second home buyers or future investors. They will not stop themselves to recognize and praise the good work and will also turn to online platforms to recognize the eminent players. Online platforms are therefore becoming more important as technological advancements have brought realty sector online too. Updates about property, news, reviews and all the related information is available online and in fact many property developers also give option to book properties online.

India International Property Awards (IIPA), support the fact that buyers being the back bone of realty sector, should have full right to information about each and every aspect of properties they are investing in. Not just this, they should also be able to put forward their own views, good or bad, about the realty firms and their works. By doing so, everyone interested in realty sector would get authentic information, the source being reliable and trustworthy. Being the actual users of the property, customers and general public would always present correct information about the quality of work of any particular developer.

IIPA Awards intends to recognize and appreciate all those real estate firms and fraternities who have done excellent works in their fields and have supported the growth of this sector. By understanding the importance of correct, true and reliable information for selecting the most deserving nominee, IIPA has brought online polling as a robust tool in the hand of customers. For the first time in the history of Indian Real Estate, Online polling would be done to get authentic and reliable information. Such information would be true and correct in every way as the basis of such data are the views and assessments of actual users.  IIPA has made the online polling option available for all and anyone ranging from developers to customers and general public can cast their votes in the favor of their best nominee under different categories. The results would be accurate, honest and reliable. Online polling would bring all the Realty developers, networkers and realty segment specialists on a common platform and their work would be reviewed by the actual users. Getting results out of such systematized and candid system would help the entire realty sector and everyone associated with it to distinguish the excellent and finest of works.  Online polling would allow participants to choose the most eligible contender and the results would be reliable and genuine. IIPA Awards by initiating online polling intends to recognize and acknowledge the works of those realty fraternities who take that extra effort for the happiness and satisfaction of their consumers. They understand their duties toward the buyers and realize the value of their hard earned money. Online polling is to select best of realty players, extracts results from actual users and that feeling of getting recognized through true and honest views would be fulfilling and very pleasing. This would not only help realty fraternities to showcase and display their good work but also help in building strong goodwill and brand name in the market.

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5 Pro-consumer trends reshaping India’s residential property sector

n India’s highly dynamic market environment, change and innovation have become essential for the survival of any business. The housing sector, which was in the previous years defined by a remarkable lack of change, has been no exception. The winds of change are causing aspects of this industry that previously seemed ‘cast in concrete’ to give way. Let us examine five factors that stand out in this respect:

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ncreasing focus on affordable ticket sizes

Across most Indian cities, the financial ‘sweet spot’ for homebuyers is seen to be in the range of INR 50-70 lakh. In hyper-expensive Mumbai, ticket sizes of around INR 1 crore are popular with buyers because of the higher wealth creation and therefore purchasing power there. However, as of 3Q16, there has been a rise in apartments priced under INR 1 crore in Mumbai, as well.

The proportion of increase in units launched in Mumbai in the under INR 1 crore ticket size increased more than the proportion of the overall rise in unit launches. Mumbai serves as a good example to illustrate the rising affordability trend because it is the toughest market in the country, and yet could see more launches in this segment. Other cities will, therefore, fare even better than Mumbai in terms of decreasing housing ticket sizes.

To keep the price tags of their offerings attractive, developers have been reducing the average carpet area of apartments across cities. For example, the average apartment sizes in Mumbai and Bengaluru have, in recent years, shrunk by 12% and 30% respectively.

Configurations revolution

When it comes to the most preferred configurations, 1 BHK flats remain the most popular in Mumbai, while 2 BHKs rule in most other cities such as Delhi-NCR, Bengaluru, Pune, Hyderabad, etc. Of course, affordability is the main reason behind the popularity of smaller flats in Mumbai. Most of these smaller configurations are priced around INR 1 crore, which is considered ‘affordable’ by Mumbai standards. Moreover, selling these units later on is easier than selling bigger configurations, as there are always more people looking to buy 1 BHK flats in Mumbai than there are units available. In other cities, the same logic applies to the 2 BHK configuration. As real estate in most cities is cheaper than Mumbai’s, homebuyers can afford to and do buy bigger configurations.

Unit launches	Overall	Under INR 1 Cr
3Q15	77,700	41,550
3Q16	78,600	43,400

Source: JLL REIS

More developers entering affordable segment, PE players willing partners

The Modi Government’s focus on affordable housing has helped in making this segment more palatable to developers. The erstwhile aversion to being tagged as ‘low-income housing builder’ has waned, and even larger players are openly entering this market segment. There is now considerable political and social goodwill attached to such a move, apart from its undoubted business sense. Players like Mahindra Lifespace, Tata Housing, Shapoorji Pallonji Group, Assetz Property Group, Puravankara Projects, etc. are all enthusiastic about entering or expanding their affordable housing portfolios this year. One player – Emgee Group – is planning an investment of INR 1,600 crore into the affordable housing segment over the next five years.

Private equity players are willing to partner with developers operating in this space and fund such projects. Nisus Finance Services, Brick Eagle Capital, Avenue Venture Partners Real Estate, Carlyle, Essel Finance Advisors and Managers LLP, Provident Housing and International Finance Corp are some PE firms helping developers with their affordable housing projects across the country.

India’s chronic dearth of affordable projects is nothing short of legendary. However, with slowing sales in the luxury and premium categories, affordable housing is now the one segment which shows any kind of real promise to open up revenue for developers. After the recent demonetization move, land prices will plummet – more so in the tier-II, III cities and the fringe areas of metros. This, too, will aid the cause of making homes more affordable in India. While developers are already constructing smaller-sized units on the outskirts of cities, the Government must step in by improving the connectivity of these outskirts to respective city centers.

Basic amenities on the rise irrespective of project size

Homebuyers expect decent amenities in their housing projects, regardless of whether they are townships or standalone buildings. While townships offer many amenities, sufficient parking, a small garden and play area, good security and power backup are now increasingly being seen even in standalone residential buildings. Buyers are no longer willing to settle for amenities-starved projects and expect the basic facilities even if their purchasing power is on the lower side. With more and more developers of modest-sized residential projects heeding this demand, the rest have been left with no choice but to follow suit.

Engaging on social media and increasing spends on digital marketing

Dissatisfied homebuyers have been using social media effectively to demand redressal to their grievances. Developers have realized the power of social media in brand image management, and many have started responding to buyers’ posts or queries in real time. At the same time, they have realized the potential of targeting possible buyers with advertisements while they are online. In fact, most developers have begun to realize that investing in digital marketing is necessary in a market environment where more and more buyers review all their options online before actually doing site visits at shortlisted projects and making their final decisions.

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