Chandigarh & Around: 2014 Hopeful for a Brighter Future for Real Estate Investors!

With the Indian economy showing encouraging signs of recovery right from the beginning of the New Year, both realty stakeholders and experts are betting the post-election second half of 2014 to be the best time for our real estate market to re-surge with all its might. To make out why 2014 is going to ensure a brighter future for real estate investors in India, keep on reading!

Despite the year 2013 ending with a somewhat dismal realty scene, it is a new hope from the New Year that is still keeping the stakeholders interested in the market! The Indian real estate industry seems to have already forgotten the forgettable last year and looks forward to make a fresh beginning in 2014.

Encouraged from the initial hints of revival, experts and market watchers too have predicted the second half of the year to come up with clearly noticeable changes. They are presuming the General Elections to change the game and allure the investors in most of North Indian, including cities like Chandigarh and nearby regions, especially for those ready to make long term deals!

How will the General Elections Play a Pivotal Role?

Customer confidence experts believe will be in a state of passiveness throughout the first half of the year 2014. This can be attributed to improbabilities associated with macroeconomic conditions, domestic and international, and the general elections. It is immediately after the election phase that all inert investors will come into action, allowing the real estate industry to boom at its best!

Watchful Moves from Home-buyers

The residential segment will remain moderate for home-buyers for the next four or five months. Despite the fact that much price appreciation can’t be expected for now, the buyers waiting for the right time will begin to finalise their deals in the first half only, considering that the latter half is going to register definite improvement. 

Experts are expecting the market to go upward in the beginning of the second half of the year. This is when investors and end users will want to capitalise on this chance of purchasing their dream flats in Zirakpur or at any emerging city. Residential realty capita values, obviously, will go high owing to a gradual stimulation in overall absorption.

What Other Than Elections will Change the Equation!

While it is true that the Lok Sabha elections are going to be the real name of the game, introduction of REITs, the due extension of the banking sector will be other major factors to have remarkable, positive impact on the real estate market in 2014.

The next six months will be quite deciding for the approval of new reforms for the expansion of the banking sector. This will clear the way for corporate debt markets and foreign competition, raising efficiency and boosting investments in the financial sector. All these events will collectively have a great effect on the realty market.

Healthier Growth in Retail and Commercial Segments

The second half of this year is going to be positive for retail and commercial segments in terms of a healthy growth. The expected fresh-supply addition of the commercial office segment within major cities in India till the end of the tear 2017 is over 140 to 150 million sq ft. All major enterprises will be confident to invest in these expansion plans, causing the absorption of new office space to increase by a huge margin!

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Guide to Registering Properties in Delhi

If you are interested in purchasing some properties in Delhi, this guide intends to inform you, how you can register your property to have legal authority over it. It takes you through the process involved in registering a property in Delhi, the city that is home to many large multinational corporations and government offices. This guide will take you through each step of the registration process, so that you can approach it with ease.

Registering Property in Delhi

You need to apply to the Sub Registrar's office of the concerned district in Delhi, in order to register your property. The response time on registration is usually 15 days or a little more, if you proceed using paper documentation. If you wish to use the online registration system recently introduced by the Delhi Government, you will receive a response on the day you file your application itself.

Documents Required

The documents required to register properties in Delhi can be either Sale Deed, a Will, a Conveyance Deed, a Gift Deed or Share Certificates. 

The registration fee for all the documents, except for a will, remains the same, 1 per cent of the total value, with an additional charge of Rs. 100. The registration fee for a will is Rs. 600. The stamp duty differs for each document, and is based on gender.

The Registration Procedure for Sale Deeds

If you have a sale deed, the following steps will guide you on how to go about registering your property:

Details Required

You need to provide the details which will be applicable to your property, such as the date of purchase, the property transfer and inheritance issues, the legal ownership document, the proof of payment of all dues such as water bills and property taxes, and the clearance certificate from the urban land ceiling authorities.

Drafting a Legal Agreement

The next step you have to take, is drafting a legal agreement. This has to be made on a stamp paper, and you have to make an advance payment to the vendor. Make sure you mention a time period for the registration.

Completion of Registration

A property registration attorney will prepare the document, and the final deed will be printed with stamp duty certificates.

The final step involves the stamping, execution and registration of the document at the sub registrar's office. For this step, you need to be present at the office with the buyer and two witnesses. You will also need your identification documents for completing this step.

Once this is completed, the documents will be handed over to you in 30 minutes, after the submission of the payment receipt.

Online Registration in Delhi

You can register your properties in Delhi quickly, by using the online registration portal that ensures transparency in the process.

Your registration will be completed on the day you file an application.

Filing an Application

To file an application, you must have a pre-fixed appointment online or over the phone. This is so that you receive a unique appointment number, date and time to approach the sub registrar’s office. You can reach out to the appointed officials online, through the resource department website and receive your documents on the same day.

You can register 32 different property document types at the sub-registrar office. The office will have the details about your registration process, along with the forms required and the document set you need to provide. You can use the online calculator provided to determine the stamp duty based on the details you provide. You can purchase e-stamp paper, once the stamp duty is calculated.

Verification Process

Once you complete this, you can head to the sub-registrar's office, where your application is checked. Then, someone will direct you to the correct representative. You have to enter with an electronic access card, after which your documents and identity will be verified. You need to clear this step in order to appear in front of the sub registrar.

Completion of Registration

You will receive your registration documents in the evening, between 4-6 pm. This process makes the registration of property in Delhi much more user friendly, easy and transparent.

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