Q:
Hi all, What was the agenda of meeting Gujarat government with Delhi Metro Rail Corporation? How long did it take to reconsider the matter?
Latest Answer: Hi all,
Is there any U-turn going to be taken by MEGA in the future because of costly plan and overlapping routes?
Q:
What are the proposals made by Gujarat Housing board for apartments prices...??
Latest Answer: No i don't think so..The projects by GHB is not likely to start by end of 2013. This means it will take minimum three more years to complete them.
Q:
Hi..how about investing in Gift city, Gujarat? what are the updates?
Latest Answer: I am really interested to know about the real estate market of Gift City and current price going on.
Q:
Hi..there are so many projects in Valsad pending. Why isn't government doing something..??
Latest Answer: Hi Vikas...seems government is not paying any of these projects pending..specially the road projects. Bhilad-Nargol road is stuck up in clearances issues from past so many months. Same is the situation of anjan-Umbergaon main road.
Q:
How many Indian real estate developers from India are expected to take part in a property exhibition?
Latest Answer: The property exhibition in London will be from October 6 to 7.
Q:
How was the realty sector during 2011? Can anyone brief me about it?
Latest Answer: 2011 was a fluctuating realty market. The developers, investor and the builders struggle hard to strength the roots due to the realty price fall. 2011 badly hit builder's profit market. Overall the realty sales were a total drop down.
Q:
When will the real estate sector going to have transparency? It is really risky to invest in real estate for first time buyers like us. There are many realty defaulters breaking realty norms.
Latest Answer: According to experts, any criminal, illegal transaction or cases related to property dealing can be attached to Money-laundering Act. If any case is lodged under this act then they are surely going to pay a hefty amount.
Q:
The Leasehold property sellers need to obtain transfer memorandum. So, What is transfer memorandum? Why is the transfer memorandum necessary? Who will give the transfer memorandum to the seller?
Latest Answer: Transfer memorandum is a permission granted by the development authority to the seller of the property allowing to transfer his rights to the buyers. The seller can obtain the a transfer memorandum from the local development authority and it is necessary because the development authority provides land development rights to the developers and sell the residential units for a lease of 99 years. Anyone who buys flat in commercial or residential project will actually own the flat for 99 years and the authority technically remains the first owner. You need to register the property in your name even under leasehold.
Q:
I am staying in ground floor and for that I am paying rent to my mother. The house is in my mother's name for which she is not claiming any tax benefit. I have taking a housing loan for building the first floor of the house. My question is am I eligible for home rent allowance from my salary and also the benefit under Section 24 (b) for the interest I am paying towards the housing loan availed by me?
Latest Answer: You can claim for home rent allowance from the salary on the rent that you are paying to your mother. Do not give any break in paying th rent, pay the rent in regular basis every month just if it were a non-relative landlord. Moreover your mother have to include the rent in the income tax returns. There will not be any tax deduction on the repayment made on the home loan as the property does not belong to you.
Q:
What are the property buyers going to do regarding the raise of illegal properties in India?
Latest Answer: Beware of illegal properties and before buying follow these steps consult experts, check out the title of the property, ask for legal documentation, existing loan, property valuation, more down payment, age of the property, loan eligibility and fees charged by housing societies.
Q:
I think IFC for the first time planning to invest on affordable housing. What is the price range?
Latest Answer: Hey Chandan,
Have you heard the recent news? The international Finance Corporation (IFC), a member of the World Bank Group, will invest Rs. 160 crore along with Tata Value Homes (TVH), a subordinate of Tata Housing to finance affordable housing projects for low income group across India.
Q:
Why are the builders using God as their marketing tool?
Latest Answer: The developers of Ahmedabad are taking the help of spiritual means to win over the slow realty market. The developers are highlighting temple access in their project. It has become a part of the realty.
Q:
Why is Kotak Realty Fund lending Rs 523 crores to the real estate developers?
Latest Answer: According to experts, in order to reduce the stress faced by the real estate developers the Kotak Realty fund has lend crores of rupees. The fund will be granted only with the assurance given to the real estate developers.
Q:
Can anyone explain me what is money laundering law?
Latest Answer: To prevent black market anti-money laundering law came into action. The idea of money laundering is to transform the monetary proceeds into the funds with an apparently legal sources which is initially derived from a criminal activity.
Q:
Has the downfall in demand for residential property market affected the market prices?
Latest Answer: Only mid- segment units got affected by the downfall in demand. But villas and apartments whose price range starts from 3 crores did not get affected by the downfall.
Q:
What is the solution Israel going to provide for the water management system in Gujarat?
Latest Answer: According to the government of Gujarat, Israel is going to provide technology solution in order to set up a cost effective desalination plants. They are further planning to install water pipeline, water purification, waste water recycling and solar system.
Q:
Is it true that foreign real estate players are allowed to invest in India now? Can you provide me with any other insights?
Latest Answer: Department of commerce and industry has eased the norms of FDI and hence has permitted foreign real estate players to invest in Special Economic Zones.
Q:
What is the reason that Ahmedabad is offering houses for cheaper rates?
Latest Answer: I feel high inflation and hike in interest rate has led to fall in demand and this may affected sales of Ahmedabad Properties. Due to these properties in Ahmedabad are available in cheaper rates. According source, prime location property price has corrected and they are back to normal real estate rate.
Q:
Can a builder increase the flat cost beyond agreed cost at the time of booking? Can they hold registration even after getting 20% payment of original agreed price?
Latest Answer: If you have an written agreement then you can file a case against the builder. After paying the booking amount he has no right to increase the rate per sqft area. Take legal help for the increased costs.
Q:
What is the reason that the price of the property in Mehsana has suddenly gone so high?
Latest Answer: After Maruti made an announcement that they are going to buy a land in Mehsana for their new car project, the prices of land in and around Mehsana raised by approximately 200 percent within a month.
Q:
Which are the areas that are facing crisis in commercial real estate?
Latest Answer: It has been traced that thousands of commercial space are lying unoccupied in many cities like Mumbai, Chennai, Bangalore and Ahmedabad.
Q:
Recently I have shifted from Chennai to Ahmedabad in a 2bhk apartment and me and my family are facing lot of trouble as before we were in a big house. So it is getting difficult to manage in small house. Please guide.
Latest Answer: According to experts, in a small house one should always use florescent bulbs, try avoiding heavy and ornate furniture, use floating shelves as it will help you to save lot of space, paint your walls in light colours, and always use light coloured curtains.
Q:
Is there any particular reason for upcoming up with such idea?
Latest Answer: In this loan scheme, a loan borrower can make per-payment during fixed rate period also.
Q:
Today I came across a new word in the real estate news column. I want to know more about it.
Latest Answer: Baby boomer's are people born between the years of 1946 to 1964. According to a study it is found that 30 percent of people do not want to sell their house and want to stay where they are dwelling and another 30 percent just want to renovate their house but not to sell and the rest of the 40 percent frequently want to change their houses. This concept is called baby boomer's
Q:
What is the reason that Ahmedabad is known as the eye candy of India?
Latest Answer: It is because of the realty market. Ahmedabad is one of the fastest growing cities and it is also one of the investor-friendly destinations.
Q:
Please help, as I am planning to put tiles in my kitchen. What type of tiles I can use in my kitchen?
Latest Answer: There are various types of tiles and now-a- days people are not using ordinary tiles. For kitchen you can use tiles which are stain resistance.
Q:
I wanted to know if I have booked a flat and after that the price rises then which amount should I pay, the present price or the amount at the time of booking the flat. Please help.
Latest Answer: It is better to book a property which is escalation free. Generally builders do not ask for escalating price if you have already booked.
Q:
While buying a new house what should we keep in mind. What upgrade should we go for?
Latest Answer: Before buying a house you always should check with the locality, price, surroundings and take advice from experts. Buying a house is a good idea as a long term investment.
Q:
Property prices in the second quarter for 9 cities seem to have fallen drastically, any particular reason for this downfall?
Latest Answer: According to the National Housing Banks the rise in interest rates is the main reason for the slowdown in the property price.
Q:
I want to know if I am taking a house for rent what are the documentation to be done and what precaution should I take?
Latest Answer: Rental agreement is vital for rental property and it is registered for more than 11 months. After 11 months if you want to continue, you should renew them, If you looking for longer period, recommended to go for lease or leave and license.
Q:
I get my salary in cash and the company does not provide any pay slip. Am I eligible for home loan and what are the proofs required?
Latest Answer: If you are planning to apply for a home loan, then lenders will ask you to submit documents that reveal your income details. In case you don’t have the pay slips, you are still eligible of getting a housing loan. if you don’t have pay slips you can submit some alternative documents.
The documents like:
Salary account bank statements
A letter signed by the head of the company, stating your salary
Appointment letter and detailed salary structure that is duly signed
If any loan rejected problems contact loan providers 9008133998 www.bkhataloans.com
Q:
Is it true that now we can pay the property tax online? Can anyone tell me what the procedure is?
Latest Answer: The Ahmedabad Municipal Corporation has taken the initiative to provide its citizens with e-payment service. The procedure is simple you just have to login to the gateway website, and then have to give details of your old dues, outstanding payments and taxpayer tenement number. You can pay your tax by using debit card, credit card or internet banking and then you have to provide your email ID and phone number to confirm the payment.
Q:
Every day when I pass by the Nehrunagar-Iskcon circle I face a lot of trouble with the narrown roads. Will the municipalty look into the matter and widen the roads?
Latest Answer: @Vikas, I too stay in Ahmedabad and I heard that the Ahmedabad Municipal Corporation is soon going to take the initiative by demolishing the encroachment which has been illegally extended onto the roads. Our dream of having a widen road in Nehrunagar-Iskcon Circle will soon come true.
Q:
I wanted to buy a property in the city with good connectivity and the area should be good for living as my family members are also going to stay with me. Please suggest.
Latest Answer: But it is also true that rates per sqft is very high, it is said that the price per sqft has increased by Rs 100 and many other hidden charges are there which are very heavy. So I prefer you to wait till the price comes down if you are going with Santigram Adani.
Q:
My uncle wants me to sell his house immediately. But in fact, the house is on his name. I want to do everything in a legal way. Let me know how can I sell the house, so that I won't face any legal issues in future.
Latest Answer: Hi Vikas, it will be better to first take the power of attorney from your uncle. Fulfill all legal formalities and once done, you can easily sell your uncle's house.
Q:
What is the reason that the city is losing its beauty? What is the next step the civic body is going to take?
Latest Answer: The resident and the civic body both are fed up of the current condition of the city, garbage dumped all over the roads. To come over the problem the AMC has decided to rope in a non-profit organization for the task, they have collected all the information from the civic body as well as the officials of AMC. Solid Waste Management are first going to analyze the situation and later on they will execute the plan area wise.
Q:
The Ahmedabad Municipal Corporation is making advance plans to fight the water borne diseases. What are the plans? When are they going to execute the plans?
Latest Answer: Officials of Ahmedabad Municipal Corporation said that this time they are ready to fight against the diseases and they have a better plan than previous year. The corporation has decided to hand over the responsibility to the professors and medical professionals from various colleges. They are palnning to execute the plan by April for Dengue and by December they will execute the plan for Jaundise and other diseases.
Q:
Hello sir, I am willing to buy a flat which is under construction. I want the selling agreement to be registered, but the builder says that it's ok if their is no registration for the selling agreement. Will their be any issue further if the selling agreement is not registered?
Latest Answer: It's mandatory that any property agreement should be registered and stamp duty should be paid on it. Never trust those builders who gives you this kind of wrong information. If you still invest or make a deal, you might face a legal issue in the future.
