Localities in Faridabad that Offer Affordable Place on Rent

Faridabad, the largest city of Haryana, is one of the most favored destinations among the home seekers. Also, the proximity to the city to Delhi, Gurgaon and Greater Noida, and affordable rentals make Faridabad a favorite residential destination among the working professionals.

If you are all set to move and reside in Faridabad, here are top five affordable localities where you can look for a rental apartment for yourself.

New Industrial Town

New Industrial Town or NIT is located close to Delhi, Gurgaon, and Old Faridabad, and thus, it is a preferred choice of those who have a daily up and down schedule to these places. Also, NIT is very close to Ballabgarh Railway Station. The commutation facilities from this vicinity to other Delhi NCR regions is truly impressive. Above all, those looking for an affordable rental flat in Faridabad, the NIT locality meets their demand perfectly.

Green Valley

Green Valley is another area of Faridabad that offers budget-friendly apartments for rent. Its excellent connectivity to South Delhi makes it the first choice of those with a job, business or educational institution in that area. This upmarket area is packed with all the essential facilities, with the Crown Mall and Big Bazaar being the popular landmarks of the vicinity.

Sector 27

Labeling the Sector 27 of Faridabad as the child-friendly locality won’t be untrue. The vicinity has prominent schools, day care centers, gardens, amusement parks, etc. So, if you have children at your place and an affordable flat on rent in Faridabad is what you are looking for, Sector 27 is a haven for you.

Dayal Basti

This locality is evolving as a great dwelling option. Apart from basic infrastructure, the area is also popular for the National Museum and Tughlaqabad Fort Complex. Many consider staying at this locality because of affordable rental and its proximity to NIT locality, Ballabgarh Railway Station and Old Faridabad.

Surajkund

Primarily the industrial belt of Faridabad, Surajkund is now emerging to be a hot residential option.  This is because of the various factors such as reasonable rent of the residences, strategic location, connectivity with Delhi and Gurgaon via Gurgaon-Faridabad and Mehrauli - Badarpur Road.

Nehrapur

Many believe that this one locality is growing at a rate faster than that of any other region. The ongoing work of Kundli-Manesar-Palwal Expressway, which will connect Nehrapur with Gurgaon and Delhi directly, is attracting a large number of residential builders to the locality. Also, many residential apartments are on the verge of completion in various sectors falling under Nehrapur such as sector 81, 82, 85, 75, 76.

Conclusive Remark: It seems like Faridabad will soon emerge as the next Noida or Gurgaon. With a lot of lucrative and affordable rental apartments, Faridabad is improving its overall look for the home seekers.

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Everything about Benami Transactions in Real Estate

The Government of India (GoI) has tightened the belts to fight against the issue of Black Money. Several reforms have been introduced lately to nab those who have been channelizing their unaccounted resources through different means. One of the most vital reforms in this series is – The Benami Transactions (Prohibition) Amendment Bill, 2015. This bill is the amendment to the original Benami Transactions Law, 1988.

WHAT ARE BENAMI TRANSACTIONS?

Any property transaction in which the property is registered in the name of one person & its consideration/payment is provided by another person. The ‘property’ can be any movable/immovable asset including even gold & financial securities.

The person in whose name the property is registered is termed as ‘Benamidar’. To add to it, a Benamidar may or may not be a real person. It may simply be a fictitious person or a real person unaware of the ownership of the property.  Have a look at the snapshot below for better understanding.

In such cases, directly or indirectly, the real beneficiary is the person making the payment.

EXEMPTIONS FROM BENAMI DEFINITION

GoI has been a bit generous in exempting few cases from the purview of Benami Transaction. These include cases where a property is held by:

1. A person in the name of his/her immediate family including children & spouse. But the consideration should have been paid by know sources of income of family.
2. A member of Hindu Undivided Family. Here also the source of income should be known.
3. A person in the fiduciary capacity for a trust.

AUTHORITIES TO DEAL WITH BENAMI TRANSACTIONS

In the amended bill, a 3-tier structure of authorities has been established to take strict actions against Benami Transactions. These include:

1. Initiating Officer: Initiates the notice against a person, he believes is a benamidar. He may hold the property for up to 90 days & collect all the related necessary documents/evidence from the benamidar & other sources.
2. Adjudicating Authority: Based on the documents & evidences collected by the Initiating Officer, the Adjudicating Authority will pass an order whether to confiscate the property or release it.
3. Appellate Tribunal: Any appeals against the orders of Adjudicating Authority can be made to the Appellate Tribunal. Any appeals against the Appellate Tribunal can be made to the High Court.

PUNISHMENTS FOR BENAMI TRANSACTIONS

1. Rigorous imprisonment from 1 year to 7 years
2. Confiscation of the Benami Property
3. Monitory fine up to 25% of Fair Market Value of the property

CONCLUSIVE THOUGHTS

• I believe that the introduction of Benami Transactions Amendment Law will have a strong effect on the GoI’s campaign against Black Money

• But simultaneously, the real estate market will be impacted adversely & the market will be left with fewer buyers

• There will be reduction in real estate frauds & the sector will become more organized

• It will be beneficial for Loaning Agencies, as the available properties will be more authentic

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GST - Catalyst or Dampener for Real Estate?

WHAT IS GOODS AND SERVICE TAX (GST)?

GST is a ‘Single Indirect Tax’ on the supply of Goods & Services, right from Manufacturer to Consumer, which will encapsulate all the existing individual indirect taxes like VAT, Excise, Service Tax, etc. It is one of the most awaited tax reforms which recently got unanimous approval from both the Parliament Houses in this monsoon session. GST tries to simplify the complex tax structures & related issues by merging various taxes into one.

GST IN REAL ESTATE

Currently, the taxes applicable to Residential Real Estate transactions are - Service Tax, VAT & Stamp Duty. After the implementation of GST, Service Tax & VAT will be replaced by Central GST & State GST, whereas the Stamp Duty will remain unchanged as it is out of the orbit of GST. This will ensure more transparency to Indian Real Estate Sector. Let’s see how!

IMPACT OF GST ON VARIOUS REAL ESTATE TRANSACTIONS

GST will be applicable only on under-construction & rental properties, leaving aside the ready-to-move-in & other immovable properties. Major impact can be seen on construction costs & input credits. Impacts of GST on various transactions are listed below:

SELL OF IMMOVABLE PROPERTIES (LANDS)	Transfer by way of sell of immovable property is outside the ambit of GST. Immovable property will include lands/plots. There is no impact on the same.
UNDER CONSTRUCTION PROPERTIES	Under the current tax structure, Service Tax & VAT are levied on construction materials & works. Whereas under GST, only one tax will be levied. This will have direct impact on lowering the cost of construction. Currently, input taxes are not creditable to the builders, developers & end users. Hence, this non-credit cost is the main reason behind the higher final prices of the properties. Now under GST regime, there will be free flow of credits GST will strengthen the credit chain. Developers will get free input credits on GST paid by them, which in turn will lead to lower overall costs.
RESIDENTIAL LEASING/RENTING	Residential Leasing/Renting is not covered under the Service Tax currently. It continues to be same under GST too. No impact.
COMMERCIAL LEASING/RENTING	Commercial Leasing/Renting is currently taxable under Service Tax at the rate of 15.00%. It continues to be covered under GST too. GST will provide the commercial lessee/tenant negotiation power to negotiate on the lease/rents paid, as the builder will now enjoy input tax set off on the GST paid on the lease/rents. However, the actual magnitude of effect will be known only after GST rates are decided finally.

CONCLUSIVE THOUGHTS

“It will be important to see what the final rate of GST would be because if the rate is higher than the existing cumulative taxes, it will certainly be a dampener as it will increase the final cost for buying an under-construction flat and defeat the purpose of the bill,” said Neha Hiranandani, director, House of Hiranandani, a property developer based in Mumbai.

I totally agree with Ms. Neha & believe that the final tax rate of GST will stabilize the speculations of GST. However, with improved economic environment, I am hoping for positive response in realty sector. In any case, there will be a sturdy blow to this industry which is stagnant these days.

Author: Kopal Mittal

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NUMEROLOGY IN REAL ESTATE

Have you ever wondered what numerology is? I am sure you have!

Numerology is the mystical relationship between numbers and events; it is the study & interpretation of numbers.

These days Numerology is playing a vital role in Real Estate. Whenever a man plans to purchase his home or make any other investment, he makes all the possible efforts to make his home happy & investment fruitful.

While purchasing a property many factors are considered like neighborhood, budget, connectivity and other modern amenities. Now-a-days Numerology is also one of them!

KNOW ABOUT YOUR HOUSE NUMBER

House number is an important key if you talk about Numerology. People are always in search of an address having their lucky number. It is so because they put all their positive vibes, mental power and confidence in it, which leads to their psychological satisfaction.

But the question is - how to apply numerology in your house number?

To know your house number add all the numbers in your address until you arrive at single digit i.e. 1 to 9. For instance if your address is ‘68, Park Avenue’; then your house number will be 6 + 8 = 14 => 1 + 4 = “5”. Every number has its own pros and cons.

SNEAK PEEK INTO FEW NUMBERS

Different countries have their different perceptions of numbers. A number can be deemed as lucky in one country while the same number can be believed to bring bad luck in another country.

In China number ‘4’ is considered as unlucky because in Chinese language it sounds like death.

Generally, numbers ‘8’ & ‘13’ are deemed to bring bad luck. Many builders while construction skip floor number ‘13’. Thirteenth floor have rates lower as compared to others. Prices may vary about 10% to 15% as compared to others. Almost 85% of the buildings do not have floor number ‘13’. This superstition is not limited only to floor, but also to apartments, room numbers and in some cases street addresses too. But in Italy, number ‘13’ is held as lucky because it is associated with the “Great Goddess”, who is responsible for fertility and lunar cycles. It is believed that number ‘13’ brings prosperity and life.

Number ‘8’, on the other hand is believed to bring evil effects like poverty, accidents and deaths in non-Asian countries as it is believed to be associated with the Saturn. Number ‘8’ is shaped like infinity symbol showing - “What goes around comes around”. In contrast, in Asian countries number ‘8’ has a special significance as it sounds like ‘wealth’ or ‘fortune’. It is associated with good returns over the long term. Statistics show that in Asian countries about 20% of home listings ends with number ‘8’ while in non-Asian nations, this figure is limited to only 4%.

In India there is a saying that amount of transaction money should end in number ‘1’ & should not be an even number, as the extra penny is said to bring good luck. For instance, instead of Rs. 1,000.00, Indians prefer to receive Rs. 1001.00

SUM UP – CONCLUSIVE THOUGHTS

Different numbers have different vibrations; some vibrations may suit you while others may not. At the end your address sets the tone of your residential space. Hence, while purchasing your house, it is wiser to make sure that your house number is compatible to you or not.

DISCLAIMER: The above facts & thoughts are author’s individual beliefs. This post doesn’t intend to influence any buying decision. It’s wise to take decision based on one’s individual cognizance.

Author: Kopal Mittal

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Common Real Estate SCAMS

Courtesy: Keys 90

Real Estate Sector receives a boost during Diwali

Festive season are always the best to shop, sell and do any kind of deals that you want because everybody is in a jolly mood and everybody wishes to spread happiness and peace in the society. Moreover according to some people that believe in the stars and moon positions, the time during Diwali is very auspicious and the star, sun and moon positions are appropriate for making any kind of deal. In Diwali there is one day dedicated wholly to any and every kind of monetary and financial deal called as the dhanatrayodashi meaning the day to worship goddess Lakshmi who is the goddess of money.

On this day people consider it very auspicious and lucky to have done any kind of monetary or financial deal and hence people are more willing to buy properties or give their properties to someone on these days. there are various offers that the property sellers, the real estate agents and the developers of the property put up on their project in regards to the festive season and so that their sales are doubled. It is said that in the festive season there is a decrease in the prices of houses and hence people browse for properties to buy at this time. There are various people who wait till this time to purchase their own home because they know that the prices will decrease. This has been happening for the past two to three years and hence people are anticipating a price fall in this year too.

As the prices of the properties are going down and there is no substantial development in the prices of new projects and properties that the builders have decided to launch, they are planning on various new offers and plans that can give the best to their customers. The sellers have realized that there is no more the age of manipulating people but you have to keep a very nice and clean record with them and always keep a good image of yours in front of them. This will help them to choose you when your properties are out and also some well-known builder’s properties are out. The builders and the buyers actually wait for this festive season anticipating that the prices will rise and the prices will decrease respectively.

Everyone has a different take on this as the builders sees the industry and this season differently while the buyer and the customer sees this season differently. The best way to be correct about the rise of the fall is to research for you, read few things, watch few interviews and informative stories and then anticipate the rise of the fall. You have to have knowledge in the field to know if you are right or wrong and what better ways to gain knowledge than to see the news and read up comments and views of the professional real estate industrialist.

The reason for this is that if tomorrow you decide to look for flats  in Bangalore to buy and you are actually anticipating a price fall in the city during the Diwali time, but if that doesn’t happen then all your pain and efforts will be washed away in vain. Hence it is always better to be sure by searching and researching and doing a lot of ground work before you take any decision. One simply cannot go and buy a property. Wait for some time, see if there is going to be a rise or fall and then decide where do you want to buy a property and when.

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The Most Expensive Real Estate Markets in the World!

Best locations to buy a Home in India in 2015

Oh! Looks like you are thinking of buying a home. Why not think of buying a home in the most sorted locations in India in 2015? Well then grab that steaming cup of coffee, pull your bean bag and relax. We have an assorted list for you.

1) How about settling in the city that never sleeps? Yes! Mumbai

Localities like Ulwe and Chembur in Mumbai are one of those fashionable residential destinations, which have a lot on offer. Apart from great projects and great lifestyle, they assure great return on investment too.

2) What about the national capital- Delhi?

In Delhi, Noida Extension, Delhi-NCR and Dwarka Expressway, Delhi-NCR have an edge over other emerging destinations as they cherish proximity to both the city and the International Airport. These destinations are also foreseeing noticeable price appreciation in the years to come.

3) Oh! How could we forget Pune – The Oxford of the East?

Pune's prominent localities like Hinjewadi, Aundh, Kodhwa and Kharadi in Pune are dotting commendable rise in residential development. A home to prestigious projects, these locations are developing at a fast pace.

4) What's more from the biryani land- Hyderabad?

Forget the biryani and a peculiar lingo, Hyderabad too holds the stage as one of the most economical cities for one to reside. The places like Hi-Tech City, Manikonda, Kukatpally are indeed dream destinations to buy a home.

5) Not to miss- Namma Bengaluru!

Growing with an unmatchable pace, Bengaluru is a popular residential destination. Locations like Whitefield, Rammurthi Nagar, Bannerghatta Road and Marathahali stand as apt locales for residing.

Shortlist your favourite! We hope there is a house warming ceremony soon. Happy Browsing!

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How to Find the Right New York City Apartment To Rent?

Finding the right rental apartment, especially in a busy place like NYC, is not an easy task. Just collecting all the information you need to have is a huge burden. On top of that, dealing with rental brokers can make your apartment rental search a dreadful process. That’s why it makes sense to get help from experienced apartment rental professionals who can make your search easier, quicker, and less expensive?

Here’s how to search for New York City apartments.

Start your search with a licensed Apartment Information Vendor (AIV). You will set the budget and the neighbourhoods that you are interested in. Here’s why you want to start with a New York City based AIV.

·     An apartment rental service provides a large list of NYC apartments that lets you make a choice based on YOUR needs, convenience and budget.

·     If you are new to renting an apartment in NYC, look for a rental service that provides a comprehensive rental guide.

·   Apartment rental services believe you would prefer to save the hugely expensive broker’s fee. When you are introduced to a property by a broker, you are obligated to pay the broker's fee if you want to rent the apartment, which adds a large cost to you – from one month’s rent all the way up to just less than two months of rent (15% of the first year’s rent!). With the right apartment rental service, you will NEVER pay a broker’s fee.

A good rental service will help you stay organised during your search and be properly prepared for the application process. Timing and advanced preparation are the keys to a successful apartment search.

   

Choosing the Right Apartment Rental Service – What should you consider?

Apartment Information Vendors serve as marketplaces where renters can find the best no fee apartments in NYC with ease and convenience. Using a broker to help you in your search for a rental apartment means that you will, almost definitely, being paying a broker’s commission – or broker’s fee as most people call it.

So when you select a NYC Apartment Information Vendor to help you in your apartment search, look for these additional benefits:

Experienced Service: Does the AIV have the expertise and inventory to help you find an apartment within your budget and neighbourhood needs? Whether you are looking for a rent-stabilised studio or a two bedroom in a luxury apartment building, an apartment information vendor must provide you with a wide selection of apartments to look at.

Reputation: There's probably nothing that speaks louder for the reliability of a service provider than the reviews and testimonials from previous customers. Make sure you look for company testimonials and longevity. If a company has been around for a year or so, watch out. If the company’s roots go back 20 years, then you know they must be doing it right.

Live Customer Service: Getting into the New York City apartment of your choice can be a bit tricky at times. You want an experienced coach to help guide you on the ins and outs of getting a landlord’s approval. When the time comes, you want to be able to pick up the phone and speak with an expert. Make sure you work with a rental service that has a staff of apartment rental experts happy to help you.

Author Bio: The author of this article, Huge Grant is an experienced content writer who has been writing for a number of years on various topics related to the real estate industry. In this article, he focuses on the benefits of searching for a New York City apartment through a reputed apartment information vendor.

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Top 3 Real Estate Hotspots of India in the year 2015

The inception of new central government in the year 2014 had brought the country’s development on a roll. The Abki baar Modi Sarkar<link> campaign created a much-needed push for every sector of the economy. While India is ready to become the manufacturing hub on one side, the concept of smart city has found its place in everyday conversation, on the other.

One zone that has been showing maximum development signs is Real Estate.

The #RealEstate industry of the country has shown signs of stable growth; in terms of capital appreciation, new launches, and infrastructure developments. In the competition for becoming a renowned smart city, a majority of states are coming up with new projects, renovating infrastructure, etc.

All of these have transformed the sentiments of both developers and end buyers largely.

Year 2015 is expected to elevate the demand and supply further. The factors to support this growth are:

• The risk of inflation has submerged, and the borrowing rates are expected to be lower than the present levels.

This will support potential buyers wanting to take advantage of home loans in order to make the deal. In addition, due to the stability of property prices plus good offers by developers for clearing inventory, apprehensive buyers are becoming optimistic to purchase their dream house.

• The economic activities are slowly rising.

Central Bank has forecast the GDP growth to be 6.5% in financial year 2015-16. The Corporate India has also announced that they will hire more talent to assist in tackling growing business activity. When we add it together, it means an increase in jobs and thus incomes. This in turn is going to be extremely favourable for all commercial and residential real estate markets, irrespective of the zone.

• The real estate segment has seen a re-orientation.

This has made developers largely focus on affordable homes largely. This is expected to go a long way in covering the present wide distance between supply and demand of the affordable homes.

While almost every region of the country has shown signs of development, three cities have emerged as the most promising ones for investment purposes. Let us look into them in some detail.

1. Mumbai

The Financial capital of the country, Mumbai has shown a strong growth by attaining the 11^th position in the year 2015, which was earlier 20^th & 23^rd in 2013 & 2014 respectively. The reasons behind the increasing popularity of Mumbai are:

• Greater income demographics
• Higher investment activity level
• Equal growth in development among all sub markets of the city

For end users looking to buy a house in Mumbai, the average increase in the last quarter of 2014 was around five per cent among all regions when compared with an increase of just one per cent in the earlier quarter. According to Insite, a quarterly real estate report, the new launches, positive consumer sentiments, developers declaring possession of new projects along with a boost in the infrastructure developments has surged the movement.

The three ideal locations for investment in the city are MMR, Thane, & Navi Mumbai. They have shown an increase of 5%, 3%, & 6% respectively in the last two quarters of 2014, & are expected to continue doing so in 2014. Investing in a property in Navi Mumbai can prove to be extremely beneficial in the present time.

2. New Delhi

The capital of India, Delhi has been on the growth radar since beginning of the year 2014. It showed a strong positioning in the real estate market by being on the 14^th position in 2015, which was earlier on 21^st position in the year 2012 & 2013. The factors that led to this surge are:

• Mixed income demographics
• Excellent infrastructure & connectivity
• Great infusion of both retail & commercial spaces

For the investors looking to invest in the city, the fact that there is now a stability in the new government & various key policy announcements have been made in the real estate front at the Centre have created a positive sentiment. According to Insite, this has increased the capital growth by 3% since the last two quarters of the year 2014.

If you are looking to buy a house in Delhi, the three areas that have shown high growth are - Delhi West, Gurgaon & Greater Noida. The percent increase they showed were 5%, 4%, & 4% respectively.

In the present scenario, investing in a property in Delhi West can be seen as beneficial in terms of returns.

3. Bangalore

The Electronic capital of India, Bangalore is popular as the haven of property seekers. New launches & development of the micro markets were on an all-time high last year. This trend continues to grow in 2015 too. Bangalore stood at 17^th position while it was 19^th & 20^th in 2013 & 2014 respectively. The reasons that led to this rise were:

• Most of the micro markets being extremely affordable
• IT sector dominates the city, making it an ideal location for millions of employees
• Continuous infrastructure development

For the property seekers’ wanting to buy a house in Bangalore, the infrastructural growth & increasing economic activity in the city has been the major driver of growth. According to Insite, Bangalore’s real estate market increased at a rate of 5% in the last quarter of 2014; making it come in the list of the top cities to invest in.

For someone looking to buy a house in Bangalore, the three key areas that have shown a constant growth are Bangalore East, Bangalore West, & Bangalore South. The increase percent in the last quarter for these were 7%, 5%, & 5% respectively.

Looking for a property in Bangalore East is good for buyers expecting high future returns.

* The insights are from the PWC report on emerging trends in real estate Asia Pacific 2015.

Factors like new project launches, high infrastructure developments, stable government, & growth of micro markets, etc. have led to the change in sentiments of developers & buyers. This has led to an increased effort to maintain the demand & supply equilibrium. The current surge can be expected to grow further this year.

2015 has announced itself as the year of real estate.

Author Bio: Tripti writes on the behalf of 99acres.com. Her articles talk about new developments in the real estate industry. She is an avid fiction reader, craftsman & a keen observer. Being someone who just observes without having a point of view, she keeps herself updated in real time.

Disclaimer: The above article & the insights it provides are based on the author’s analysis based on published reports. Though the information & analysis are perfectly thorough and highly informative, RealT Horizon takes no responsibility for the investment decisions based on the article. Readers are suggested to analyse themselves & invest accordingly.

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