Quantcast
Channel: IREF® - Indian Real Estate Forum
Viewing all 14221 articles
Browse latest View live

6. Tax Benefits of Home-Buying?

$
0
0
How do your rate the tax-benefits of buying a house in India?

Are there strong benefits? Are there none? Are the benefits comparable to other tax benefit options?

Let us know why you think so below.

Tulip Purple, Project by Tulip Properties, Punawale, Pune

$
0
0
Hello everyone,
I went to enquire about the project, It is located just next to Balaji temple at Punawale, project includes all the necessary amenities and excellent construction quality. They are providing a special offer in which we can book the flats by paying 3% of the total cost + stamp duty and registration charges. The final cost is around 4200/- per sq ft. the building is already under construction and work is completed upto 5th slab, possession will be given by next year dec. Sample flat is also ready. Anyone else who has been to the project or planning to buy in Tulip Purple?


.........also, there is a special offer, just book your flat by paying 3 %booking amount + registration and stamp duty.

Noida : Exchange of Booked Property With Same Builder or Another

$
0
0
hi
I have a flat.
Can i get it exchanged with the same builders other project?
What will the requirement & process to do it?

Rgds

Transfer of Ownership of Father's Self Acquired Property Upon His Death

$
0
0
My Father had purchased a flat (from the resale market) in Rohini, Delhi while he was still alive which has been lying vacant for quite sometime now. The flat is a freehold property with the ownership still lying in my Father's name. He had also applied for a plot under a DDA plot scheme (1981) which is pending allotment and we have the priority number and the application slip of the same with us.

Unfortunately, due to my Father's recent, sudden, and untimely demise, he could not leave us with a legal will of the above said assets. We are therefore wanting to transfer the said property in the name of our Mother who is the rightful owner of the same.

Please let know of what needs to be done to transfer the property in our Mother's name, especially about the procedure that needs to be followed both in the case of the property and the plot, the documents that would be required (both Father's and Mother's) and the tentative amount which might be required for getting the whole process completed.

Many thanks!

Pune Properties - An Expert's Advice

$
0
0
Pune is near to the financial capital, Mumbai, has made growing hub for educational institutions and IT companies, which has at last prompted in increment property costs.

There are various others things which you should know about pune real-estate.

Financial specialists are coordinating toward fringe zones
  • Fringe extension and periphery region advancement is the pattern what Pune now takes after. This is because of the steep rise in property rates in central Pune and affordability in prices in these outlying localities. Likewise, Kondhwa and Singhad Street have developed as potential areas for private.
  • Smart city label to boost project prospectsIt is the buzzword that has created a wave in the whole country and hence considerable growth will be witnessed within and outside the limits of these smart cities. A notable 32% of respondents of a survey carried out in the same context displayed interest in procuring units in these budding hotspots.
  • Pune- Knowledge and IT hub
oie ZkDkxMj6BJBd 300x201

Various understudies have moved here, Pune being the Oxford of the East and property costs in closeness to instructive organizations are nearly higher. This division is driven on a profoundly prepared and proficient work force who are vigilant for homes in shifted value sections inside Pune, a number of whom are principally hunting down rental units.
  • NRI investment in commercial sector Owing to relaxation in regulations and eased out procedures by the RBI, the NRIs are now drawn to investment in commercial properties and Pune is a good option as there are range of projects-schools, hospitals, restaurants, malls in several commercial pockets and upmarket areas of Pune.
  • Leaning towards eco-friendly housing segment. Developers are now attaching importance to green buildings and sustainable architecture in their construction projects in view of saving on resources and long term cost effectiveness. They are drawing attention to eco-housing in order to offer healthy spaces for tenants to reside in and maintain high conservation standards to ensure environment safety.

Satguru Apartments, Sector 52, Gurgaon

$
0
0
Satguru Apartment, Sector 52, Gurgaon

Noida : Are Fit Out Possessions of Residential Properties Legal?

$
0
0
I have booked a flat in Noida long time back,
I recently received demand letter from my builder to take possession (after 1 year + delay). Based on my inquiry I know that the society is not yet complete, even flat is not finished. they have finished building work, but interior, electrical/ plumbing, etc. is still pending.


And the possession letter says make payment within 30 days and the possession for flat is only for 'FIT purpose'.
Does anyone knows what that means?
Is that legal ? Has anyone else also got similar demand letters / offer for possessions.
what are you doing about it?
And can anyone explain if we have choice to say 'No, please finish work and then only we'll accept the offer for possession'?

How to Check Whether Soil is Fit for Construction?

$
0
0
Hello folks,

This is one of the ways to check soil quality and the best thing is that it can be done without any soil testing. Plz note that it is just a crude Or lay men method and necessary soil tests must be conducted.

1. For soil testing a hand deep (about 50 cms) pit should be dug. Then the whole soil should be taken out of the pit and again the pit should be filled with the soil, taken out earlier. If some soil remains out, the site is best, if all the soil is filled the land is good and if the soil is found to be short, the land is unfit. In the second stage, after taking out the soil from the pit, the pit should be filled with water. After filling the water, one should walk for 100 paces at normal speed. If on return the volume of the water remains unaltered the land is best, if it is a little less, the land is good and if the level of water falls too low, the land is unsuitable.

2. The scientific reasoning behind both of these two tests is that the first test tells about the bondage of the soil particles while the second test indicates its looseness. This, too, is insufficient.

Hope u find this useful.:)

UKN Interlaken in Doddenakundi, Bangalore

$
0
0
Hey guys,

I saw UKN Interlaken project and is impressed with their plan n all. Could someone please put some insight about the project? About the builder , locality? Is it good to go? I am looking for 2bhk.

I tried searching the forum but did not find anything about this project. If anyone have link or something about old discussion please share.

Thanks

Clean and Present Danger : How Agriculture land is being destroyed by RE greed

Indore - Help Needed : Plot to buy near Vijay Nagar or Super Corridor

$
0
0
Hi All,

Kindly help me:

I am planning to buy plot in Indore which is near to Vijay Nagar OR Bombay Hospital OR Super Corridor. Basically i am not from Indore (quite way back my family was in Indore) but currently we are settled in Pune.

Kindly please help which Colony OR Society i must consider to buy plots from the Investment Purpose (which will not create any problem of legal) because i heard in pune many issues of initially builders take money and later cannot build and take lot of time adjusting within the landowners.

Kindly suggest me the area i should buy Plot and in which Colony. To be honest i came to about some places near Pipliyahana, Nariman City, Omaxe and SilverSpring from the forums i was reading.

Actually my budget is not more than 30 - 32 Lakhs. Please kindly suggest where i can buy 1500 SqFeet to 1800 SqFeet plot from the investment purpose and in good locality so that can think of return in another 5 - 6 years.

Thanks in Advance.

Lucknow : Antriksh project on Lucknow Kanpur road

$
0
0
Friends

Just heard from the builder that they are coming with 18 acres project on LKO- KANPUR road..precisely opp Paarth infratech ( 6KMS from International airport) terminal.. with price range from 2800- 2900 basic cost tentiative?.

Need an advice from lucknow people to understand how good is that area from investment POV?..

Mumbai : 3 BHK Under 2 Cr

$
0
0
I am looking for a 'Liveable' 3 BHK in Mumbai for personal use ... What I mean by 'Liveable' is (a) Decently sized (b) Ease of commute (c) Good complex ...

Believe that similar requirement will be there for many people in Mumbai ... Hence looking for advise from experts on this forum ...

I shall be precise with the requirements:
- 3 BHK
- Net Carpet area of 900+ sq ft (excluding balconies, dry area etc)
- In new building complex comprising 3 - 4 towers (Dont want in Old buildings, Single buildings etc) with Proper Clubhouse and Swimming pool
- Floor: Anything above 10th floor
- Location: Anywhere in Mumbai Suburbs: Western Suburbs uptill Borivali (excl Goregaon East (Palms) and Charkop), Central Suburbs uptill Mulund, Thane (Majiwada Jn, Pokharan Road but not Ghodbunder Road, Balkum etc)
- Budget: Rs. 2 cr (all inclusive)
- Status: Ready possession (upto 5 yrs old building complexes), Under Construction (max 1 year possession)

I am very particular about the criteria as I would be using the property for personal use ...

Is there any property that I could lay my hand on, which meets the above criteria ..... Or is this only wishfull thinking?

Experts ... need your advise ....

10 reasons for choosing precast concrete technology

$
0
0
1. Precast concrete is COMFORTABLE

The material has intrinsic properties of thermal inertia (allowing a more constant temperature both in cold and hot regions) and acoustic insulation.


2. Fire_brochure-front_page


Everybody knows that concrete does not burn!
Not only is the structural stability maintained for longer periods, but concrete construction
prevents the spread of the fire from one building to another.
It is sufficiently strong to resist impacts, blasts and natural catastrophes like earthquakes, tornadoes and floods.

3. Precast concrete is VERSATILE

Factory production allows a wide choice of surface finishing, colour range and special shapes. Precast concrete has another advantage: its mouldability which entails designers to copy classical details like keystones and capitals or match the finish of materials like weathered stones. The precast concrete industry can source a wide range of aggregates locally and offer a tremendous variety of colours and visual effects.


4. Precast concrete is HEALTHY

Indoor air quality is a concern for all of us.
Precast concrete is stable throughout its life and does not need chemical treatment to protect it against rot and insect attack: this means that there are no emissions in the internal environment.


5. Precast concrete is OPTIMISED

Advanced technologies used in the precasting plants create an improved quality product (i.e. reduced tolerances, thinner sections, engineered solutions) compared with cast-on-site concrete. Additionally this quality can be checked before a unit is inserted into the structure or site work!


6. Precast concrete is DURABLE

Concrete lasts for years.
Egyptian and Chinese people used an ancient form of concrete for buildings and structures that still exist today. Concrete is used where the structural stability has to be maintained for long periods. Effective design detailing helps to lengthen the life of a concrete building; precast manufacturers can offer guidance on designing for durability.

7. Precast concrete is ECOLOGICAL

Made of natural raw materials (stones, gravels, sand, cement), locally available almost everywhere and in an enormous quantity, precast concrete minimises the whole life cycle impact on the environment when compared with other construction materials.
Precast concrete units can entirely be re-used or recycled (almost 100% of a concrete building can be recycled, no matter how heavily reinforced).


8. Precast concrete is FAST

The top floor of a skyscraper can be cast in the factory when the foundations have not yet started. But the project requirements of a modern construction prefer a just-in-time delivery! On-site construction using precast concrete is not only faster, but also safer as secure working platforms are quickly established.


9. Precast concrete is AFFORDABLE

Precast concrete combines the excellent quality of factory production with a relatively inexpensive material. The costs to repair and maintain a concrete structures are highly limited. There is therefore no need to compromise on quality to reduce costs, simply choose the best way to use locally available resources.

Rather Buy Property in a 2 Tier City

$
0
0
Implications of buying versus renting a flat
Assume there is a 2 BHK Flat for sale at Kharadi (in Pune - for that matter you can assume your locality). Considering the cost of the flat between 60L to 80L. Assuming 70 L as a total cost of the flat. After US housing loan fall, no bank will give you more than 85% of total cost amount which doesn't even include local taxes from certain banks. Assuming you have taken a loan for 20 years. Here is the calculation.
Base payment 15 % = 10.5L (this will rip you off with all your previous savings)
Loan amount = 59.5 L
EMI per month Rs.59,000 per month

Maintenance charges approx 24K Rs per year = 2000 Rs per month
Average property Tax per month = 1000-1500 Rs per month
- Tax benefit is discount on the Interest amount = 50K per year = 4K per month
That also for first few years as most of the EMI goes in interest.
- 1 Lac in base amount is any way settled for PF, 80CC and LIC contribution
- Total EMI comes to approx Rs 65,000 per month for next 20 years.
(Society maintenance, water taxes and corporation tax will increase with inflation).
After paying this much money per month.
You have to say no to your family for shopping (even after a CTC of 12 Lacs)No holiday trips, no gifts to parents, skip friend's marriage, no new Car for initial few years and lot of cost cutting measures. If you get fired from the company, you are doomed. or what If recession hits. Days are not far for such crisis to hit the market. China market and Greece are examples of it.
Hence, total cost of ownership for 20 years = 65,000 X 20 X 12 months + 10.5 L = 1, 66, 50,000 (approx 1.67 crore)
What have you got:
"Home for 20 years", and after 20 years you will have a 20 years old flat in 20 years old society (dirty and filthy )

- After 20 years if the cost of your 2 BHK home is say 2 Cr by market value ( I doubt because it will be very old flat in the middle of crowded city). You make nothing out of it.
- Secondly, even if it values so. I doubt how many buyers will be interested in a property ageing 20 years for 2 crores.
- We are predicting 20yrs hence. Wasting / suffering our today for future. That too a long term future, we have never seen.
-With the rising suicide rate world-wide, who knows something unfortunate happens at our floor and you will end up selling it at a lower price.
-With the heavy infrastructure development in Pune and Pune dependency on few lakes for water, I am certain of water shortage in coming years.
- Lastly, for Indian's at least buying a house is a emotional decision. What I mean is, even if the house is worth 5 crores tomorrow. House owner will never ever think of selling to book a profit of it to enjoy his life. It's worst that we just boast of investments and businesses but are emotional at heart. Even our share market BSE, NSE run on emotional atyachaar.
Let's talk about rented flat
If you take the same flat on rent or say next door flat, at present rent for 2 BHK is Rs 14,000 all other things including.
- Assuming rent increase at 10% (very unlikely it will be less). Year on year you will pay rent approximately 1.44L, 1.58 L, or 1.74 L , at 20th year you will be paying 1.44 X 1.1^(20-1)= 8.8L
Total rent you will pay = 1.44((1-(1.1)^20)/(1-(1.1)) = 82L
Benefits
1. You can change home any time, even for small reason like neighbor's wife is hitting on you (I will not leave in that case )
2. Better job in Bangalore or US or Mumbai (I just love it... am dreaming of getting a job in Silicon Valley or Wanna to sit in a office near Powai lake :))
3. Better Job in Yerewada (do you want to manage the traffic in case you buy the flat in Kharadi, already BRTS has increased a lot of trouble on Pune roads).
4. Growing family need a 3 BHK. (Think of future need also) or villa.
5. As your rent grows so will you HRA so more tax benefit? - Apparently rent receipts have more benefit in taxes than a Housing loan.
6. A new cosmopolitan area is coming up in the city which is better than where you stay now ( I would love to stay in Vimannagar than in Dhanori )
7. If you move out of the city, finding a tenant is a problem. A tenant who may convert your dream home into filthy home(sounds scary right?)
Etc.
So what should I do?
Now if you are smart enough you will put some money in equity or SIP Because you are paying only 14, 000 rent and not 60,000 EMI.
Assuming you put 25000 Rs in investment for 20 years at an annual return of 15 % or 1.2% a month (buy plot in tier 2 cities, Mutual fund, SIP, Bank FD, PPF) you can reduce the investment amount as your rent increase. Still by our personal calculations, You can make anything between 3-5 Cr after 20 years depending on your Smartness.
Then you can purchase the above flat as second home for your kids and spent some money on cleaning it up
Moreover, after 20 years you will be sure enough where you want to settle down and hence making an investment after 20 years sounds more wiser than investing now in flat. This is the time to enjoy your life to the fullest, doing mistake, learning from it, going on an adventurous trip, checking out bucket list and list goes on and these all will be possible only if you're not under a heavy loans. I agree that your salary will also increase which you may use a counter to this article but by the time it will increase enough that you can do anything, you would have reached an age of 40 and you won't feel like enjoying anymore at 40 (exceptions exist)
Decision is yours and life you get once So, Make a wise decision.
Compiled & Issued in public interest.

Implications of buying versus renting a flat

$
0
0
Implications of buying versus renting a flat
Assume there is a 2 BHK Flat for sale at Kharadi (in Pune - for that matter you can assume your locality). Considering the cost of the flat between 60L to 80L. Assuming 70 L as a total cost of the flat. After US housing loan fall, no bank will give you more than 85% of total cost amount which doesn't even include local taxes from certain banks. Assuming you have taken a loan for 20 years. Here is the calculation.
Base payment 15 % = 10.5L (this will rip you off with all your previous savings)
Loan amount = 59.5 L
EMI per month Rs.59,000 per month

Maintenance charges approx 24K Rs per year = 2000 Rs per month
Average property Tax per month = 1000-1500 Rs per month
- Tax benefit is discount on the Interest amount = 50K per year = 4K per month
That also for first few years as most of the EMI goes in interest.
- 1 Lac in base amount is any way settled for PF, 80CC and LIC contribution
- Total EMI comes to approx Rs 65,000 per month for next 20 years.
(Society maintenance, water taxes and corporation tax will increase with inflation).
After paying this much money per month.
You have to say no to your family for shopping (even after a CTC of 12 Lacs)No holiday trips, no gifts to parents, skip friend's marriage, no new Car for initial few years and lot of cost cutting measures. If you get fired from the company, you are doomed. or what If recession hits. Days are not far for such crisis to hit the market. China market and Greece are examples of it.
Hence, total cost of ownership for 20 years = 65,000 X 20 X 12 months + 10.5 L = 1, 66, 50,000 (approx 1.67 crore)
What have you got:
"Home for 20 years", and after 20 years you will have a 20 years old flat in 20 years old society (dirty and filthy )

- After 20 years if the cost of your 2 BHK home is say 2 Cr by market value ( I doubt because it will be very old flat in the middle of crowded city). You make nothing out of it.
- Secondly, even if it values so. I doubt how many buyers will be interested in a property ageing 20 years for 2 crores.
- We are predicting 20yrs hence. Wasting / suffering our today for future. That too a long term future, we have never seen.
-With the rising suicide rate world-wide, who knows something unfortunate happens at our floor and you will end up selling it at a lower price.
-With the heavy infrastructure development in Pune and Pune dependency on few lakes for water, I am certain of water shortage in coming years.
- Lastly, for Indian's at least buying a house is a emotional decision. What I mean is, even if the house is worth 5 crores tomorrow. House owner will never ever think of selling to book a profit of it to enjoy his life. It's worst that we just boast of investments and businesses but are emotional at heart. Even our share market BSE, NSE run on emotional atyachaar.
Let's talk about rented flat
If you take the same flat on rent or say next door flat, at present rent for 2 BHK is Rs 14,000 all other things including.
- Assuming rent increase at 10% (very unlikely it will be less). Year on year you will pay rent approximately 1.44L, 1.58 L, or 1.74 L , at 20th year you will be paying 1.44 X 1.1^(20-1)= 8.8L
Total rent you will pay = 1.44((1-(1.1)^20)/(1-(1.1)) = 82L
Benefits
1. You can change home any time, even for small reason like neighbor's wife is hitting on you (I will not leave in that case )
2. Better job in Bangalore or US or Mumbai (I just love it... am dreaming of getting a job in Silicon Valley or Wanna to sit in a office near Powai lake :))
3. Better Job in Yerewada (do you want to manage the traffic in case you buy the flat in Kharadi, already BRTS has increased a lot of trouble on Pune roads).
4. Growing family need a 3 BHK. (Think of future need also) or villa.
5. As your rent grows so will you HRA so more tax benefit? - Apparently rent receipts have more benefit in taxes than a Housing loan.
6. A new cosmopolitan area is coming up in the city which is better than where you stay now ( I would love to stay in Vimannagar than in Dhanori )
7. If you move out of the city, finding a tenant is a problem. A tenant who may convert your dream home into filthy home(sounds scary right?)
Etc.
So what should I do?
Now if you are smart enough you will put some money in equity or SIP Because you are paying only 14, 000 rent and not 60,000 EMI.
Assuming you put 25000 Rs in investment for 20 years at an annual return of 15 % or 1.2% a month (buy plot in tier 2 cities, Mutual fund, SIP, Bank FD, PPF) you can reduce the investment amount as your rent increase. Still by our personal calculations, You can make anything between 3-5 Cr after 20 years depending on your Smartness.
Then you can purchase the above flat as second home for your kids and spent some money on cleaning it up
Moreover, after 20 years you will be sure enough where you want to settle down and hence making an investment after 20 years sounds more wiser than investing now in flat. This is the time to enjoy your life to the fullest, doing mistake, learning from it, going on an adventurous trip, checking out bucket list and list goes on and these all will be possible only if you're not under a heavy loans. I agree that your salary will also increase which you may use a counter to this article but by the time it will increase enough that you can do anything, you would have reached an age of 40 and you won't feel like enjoying anymore at 40 (exceptions exist)
Decision is yours and life you get once So, Make a wise decision.
Compiled & Issued in public interest.

Asset Builders - Reviews Required

$
0
0
Hi All,

Shall I go for a project with Asset Builders?

Patel Smondo status ?

$
0
0
anyone who booked in smondo are in IREF ? no construction activity seen from past fow months. whats happening there ? so called Mall also stalled.

Mumbai : Builders Offering Best Floor Plans

$
0
0
Lodha world one
Omkar1943
Raheja vivarea
Wadhwa solitaire
Wadhwa aquaria grande
Imperial towers
Orbit heaven

Patel Smondo, Bangalore : Information required

$
0
0
anyone who booked in smondo are in IREF ? no construction activity seen from past fow months. whats happening there ? so called Mall also stalled.
Viewing all 14221 articles
Browse latest View live