real estate india

Buying a home can be a long, complicated and frightening process, and it is important to be prepared. Knowledge is power when it comes to negotiating the difficult world of home prices, interest rates and mortgage loans. For a first time home buyer, there are many factors to consider before you buy. The more information you can gather before you start shopping, the better off you will be.

Look Beyond the Price

When it comes to securing a quality mortgage loan, it is important to look beyond the interest rate to the true cost of the loan, both now and in the future. Read the paperwork, including the fine print, carefully, especially if the interest rate is below market rates. Upon closer inspection you may find that the interest rate is guaranteed for only a short period of time, or that it is subject to rise sharply in the future. Your mortgage loan may be the most important contract you will ever sign, and it is essential that you understand your rights and your responsibilities before signing on the dotted line.

In many cases it will make sense to hire a lawyer to review the mortgage paperwork for you. Many communities provide some sort of first time homebuyer program designed to help renters become homeowners, and these organizations may be able to provide the legal advice you need at a price you can afford.

Every Situation is Unique

Every homebuyer will have a different set of circumstances, and it is important for the lender to consider those factors. Some homeowners may plan to move in a year or two, and they may be able to benefit from a variable rate mortgage. Others will plan to remain in their home for decades, and those home buyers may benefit from the stability of a fixed rate mortgage and its predictable and stable monthly payment.

It is also important for those buying a first home to factor in the additional costs of the mortgage when deciding how much they can afford to pay. Things like closing costs and the high price of private mortgage insurance can drive up costs and eat into funds that would otherwise be available for home improvements, furnishings and other essentials. In some cases sellers may be willing to pay some of the closing costs, and some lenders will be able to negotiate those closing costs downward. The key is to ask those questions before the closing date arrives, and to be prepared to search for a better deal if necessary.

First time buyers should also be on the lookout for any hidden fees. These small nuisance fees can add up to hundreds of dollars on closing day, so be sure to scour your paperwork for any such fees. If you are unsure about the legitimacy of any charge be sure to ask for a valid explanation. Again, an experienced real estate attorney can provide valuable insight into which fees are reasonable and which are out of bounds.

And of course first time home buyers should not lose sight of the home itself in the quest for the perfect mortgage. Any defects should be pointed out to the seller well before the closing is to take place. The costs of every needed repair should be carefully negotiated prior to the purchase, and buyers should always follow up to make sure that all requested repairs have been made. A home is a major purchase, and it is important to make sure that everything has been taken care of before moving in.

                                                                       Courtesy Real estate ABC.com

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With an aim to help discerning customers realise their dreams, Vancouver-based Royal Indian Raj International Corporation (RIRIC) plans its foray into the Indian market. With Manoj C Benjamin at the helm of affairs, the group comes to Bangalore with a pioneering concept of self sustained townships, under its Royal Garden City projects and its Royal Garden Villas & Resorts’ brand.

The Royal Garden Villas and Resort in Bangalore is a master-planned gated community with exclusive amenities, including a chateau winery, opulent club house, world-class spa and pool. Besides these, the property also boasts a five-star hotel, Vijay Amritraj Tennis & Fitness Center, internationally renowned shops, restaurants, an equestrian center and supermarkets.

Also included in the plans is a movie theatre, which is slated for phases 2 and 3. “We see the integrated township format as a key driver of future housing supply and as a catalyst for the much needed infrastructure investments in India. The Indian government has spelt out key incentive policies to provide an impetus towards easing the flow of private investments and Royal Garden City is one of the first to have been conceptualized and planned to meet this objective,” says Manoj.

Under this initiative, RIRIC plans to develop firstclass resort communities and modern satellite cities in India, with the first project coming up near the new Bangalore airport. The project is touted to be one of Asia’s largest new city developments and is expected to become a model for such projects. The company has also planned similar projects in Mumbai, Delhi and Kolkata.

The first phase of the 6,000-acre development in Bangalore is conceived to be built on 3,000 acres and will include 13.59 million square meters of built-up space. Further to these developments, RIRIC has partnered with one of the worlds largest hotel chain’s to build budget style hotel rooms throughout India at an estimated investment of US $ 5 billion. The firm also has plans to announce exclusive rights in India with one of the world’s largest realty marketing groups by June.

The Royal Garden Villas & Resort, Bangalore, RIRIC’s inaugural project, lies on approximately 400 acres of prime land situated between downtown Bangalore and the new Bangalore International Airport. The project will offer residential apartments from bungalows to townhouses and the ones modelled after luxurious western subdivisions. Manoj says, “We will offer affordable homes from $ 80,000 to $ 300,000, as well as high-end villas that are in the half million dollar range.”

Through ingenious landscaping and architectural designs, Royal Garden Villas & Resort has been endowed with the look, feel, grace and sense of community enjoyed in Tuscany, but also offers amenities that could never even be imagined in rural Italy. Tuscany Square, in the heart of the Royal Garden Villas, is not just elegant but a standing testimony to refined living. In the charming piazza, with its feeling of a friendly neighborhood, residents, along with their children and guests, can sample fine cuisine or casual fare, the best of local and imported goods, or simply relax by the fountain and plan the rest of the day.

   Courtesy Indian Realty News 27-06-08

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Looking for property? Narrow down your search by making a list of points you are looking for in the property. This should include practical issues such as transport, schools, malls, entertainment centers and the city’s infrastructure facilities. Here are some ways to narrow down the search;

Decide on the location first. Buyers usually have a clear idea of where they want to live. Consider locating neat family activities-a calm area with lung spaces, broad reads, entertainment hubs, park, lake and recreation centers make sure there are restaurants and services in the area.

Accessibility is another factor. Look at areas where development is happing. The area near a ring road, a metro rail station, or airport is a hotspot.

Near Airport

This is a good idea if you have frequent travelers in the family or if you receive guests often who stay at your house. The region around an international airport automatically starts growing with business establishments. From business parks, hotels, residential units and entertainment areas-a cluster of airport-linked businesses will begin to from along corridors in radius of 25 km.

IT Belt

Properties in the IT localities are paying rich dividends to those who have invested there. They are potential hot picks and continue to appreciate in value sharply. The sector is poised for growth and this translates to more demand for property.

                                                                                 Courtesy: - TIMES PROPERTY dt.28.06.2008

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 NEW DELHI: Call it green revolution in the real estate business. Top developers are now betting on green buildings - that use less energy, water and natural resources, creates less waste and is healthier for the people living inside compared to a standard building - to woo large tenants. Even though green buildings involve an incremental cost of 7-10% over traditional buildings, developers see it as an opportunity for differentiation in a growing market.

The trigger is a growing environment consciousness among topnotch tenants, particularly the multinationals. In the request for proposals (RFPs) that are coming in, many MNCs are starting to ask the question about the green quotient. “It may not be mandatory today but going forward, many MNCs will make it mandatory,” says Jones Lang Lasalle-Meghraj chairman and country head Anuj Puri. Developers such as K Raheja and RMZ have decided to go all green.

RMZ’s 1.9 million sq ft mall, RMZ Galleria, in Bangalore is currently under construction and will be a green development. So will be K Raheja’s Mindspace projects at Mumbai and Hyderabad, both of which are currently under development. According to CII-Indian Green Building Council (IGBC), 147 million sq ft of green space has been registered in India to date across a total of 239 projects. At the moment, K Raheja is planning and developing around 14.5 million sq ft of green space across the country. “We are looking at the long-term and want to be the first ones to go green in a big way,” says K Raheja associate vice-president Shabbir Kanchwala.

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The company has also signed an MoU with CII to train their architects and engineers in green technology, as there is a “dearth of green staff in India,” he adds. M Selvarasu, GM-Projects at RMZ, estimates the payback to be 7-8 years for gold-rated buildings and about 12 years for platinum rating. “The certification level will differ from project to project but all of it will be green,” he says. At the moment, RMZ is developing a gold-rated building in Chennai and platinum-rated building in Kolkata, both of which have been pre-certified by the CII-IGBC, with another 4-5 buildings in the pipeline.

The Lodha Group, though, is getting into it only partially. “Only our commercial buildings will be green,” says Lodha Group senior vice-president Bharat Dhuppar. Lodha has about twelve buildings in the pipeline and most of them will be commissioned between 2009 and 2010.

In their projects, K Raheja expects the cost to be around 7-8% higher. The savings, though, will be considerable. “We are looking at 30-40% power saving and about 20% water saving,” confirms Kanchwala. “Also in construction, we try and use a lot of recycled materials — aluminum and glass — as well as mix fly ash with the concrete that is used,” he adds. The use of glass too is being reduced. “We keep the use of glass to the minimum, to about 35% in commercial and about 20% in retail,” says Selvarasu.

In a world where energy costs are going up by the day and investments in energy are peaking, a green building which saves precious energy and comes at the same rental for the occupier is a decent marketing tool for developers. “Many of our customers are Fortune 500 companies who understand and prefer green buildings,” says Kanchwala. “The future is in sustainability,” says Selvarasu.

                                                                     Courtesy 27 June ET Realty

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Located on National Highway 24, Ghaziabad and standing opposite Hi-Tech City, Triveni Heights symbolizes a premium stature and redefined taste, a designer’s delight and a resident’s pride.

This mini township is an example of futuristic lifestyle innovation by Triveni Apartments with luxurious interiors and exquisite exteriors, the structure made of earthquake-resistant technology. The apartments will have marvellous wall finishing painted in pleasing shades of design prints. Modular kitchen and Vaastu-friendly are other interesting features.

There is going to be three styles of flats. The first standard flats comprise two bedrooms with a hall and kitchen (space 1,100 sq. ft.). The second standard flats have two bedrooms with a hall, kitchen and a study room (space 1,400 sq. ft.). In the third standard flats, there will be three bedrooms with a hall and kitchen (space 1,600 sq. ft). Triveni Heights will suit individual’s aesthetic taste and budget. The greenery and wide open spaces promises a country club lifestyle.

Recreational facilities like in-house executive club, multiplex, affiliated school, health club, swimming pool and mini golf course are being planned.

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Ansal API, notable realty developers, has announced another project. It is called Sushant Taj City, a top-of-the-class township which will redefine lifestyles in Agra in a big way. The attraction for the buyers lies in the availability of modern amenities amidst green surroundings and pollution-free environment.

Strategically located near the Delhi-Agra highway, on the Agra Ring Road, the township will be spread over 460 plush acres of land. The facilities will include educational institutions, hospitals, clubs, hotels, multiplexes and malls. The structures are earthquake -resistant, with 24-hour water supply and 100% power back-up. Municipal Monitor

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                                    Real Estate Investment in U.P. Cheaper

U.P. Government has given a big respite to the people who are interested to invest in

Real estate. It has been announced that stamp duty on registration of flats, plots and building like properties has been reduced from 8% to 5%.

Simultaneously, it has also been announced that within next six months the process of registration of properties will be made easy and side by side e-registration will also be implemented.

Properties will be registered and stamp duty levied in NOIDA and Greater NOIDA on the basis of price. It has also been decided that at both the places, circle rates will not be made effective for a period of next one year.

Sanction to increase FAR in Ghaziabad including Gautambudh Nagar has been accorded. With the announcement more flats can be made at these places which will reduce the construction cost and cheap flats will be available. In addition to this, percentage on rent agreements and agreements between developers & property buyers has also been reduced. Additional rebate of 2% will continue for ladies as usual in the state. These decisions were stamped during the cabinet committee meeting presided by C.M. Mayawati on Wednesday.

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Lanco Infratech’s Rs 5,500 crore-mega project in Hyderabad, called Lanco Hills, presents the finest lifestyle features, international facilities and amenities. Featuring the world’s tallest residential tower as a signature landmark, Lanco Hills offers an unique world within, with convenient access to homes, premium office spaces, entertainment, hotels, leisure and shopping at one place. Lanco Hills comprises exclusive 3-BHK Type I premium high-rise residences with around 1,850 sq.ft. to 1,950 sq.ft. of living space. Every tower houses over 100 exclusive homes. All towers rise to over 26 to 33 levels, each offering a unique experience of the “sky life.”

                                                                                                       Realty Plus

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Step Into Modern Living 

Ansal Housing and Construction has incorporated state-of-the art lifestyle and world-class facilities in a residential project in Karnal. Ansal Town Karnal (Haryana), spread over approximately 98 acres, is an integrated township and is strategically located near National Highway 1. The township is about 125 kms away from New Delhi as well as Chandigarh. The project turnover is approximately Rs 250 crores. It will feature amenities like a jogging track, commercial and shop-cum-office complex. A community centre with swimming pool and gymnasium, schools and a dispensary are other attractions.

                                                                                                    Realty Plus

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Amrapali Group performed the bhoomi poojan of ‘Amrapali Modern City‘ in Indore. Located in close proximity to IIM, Indore, ‘Amrapali Modern City‘ will have premium class independent luxury villas, residential apartments, and plots besides commercial complex. Developed over 150 acres, the township has two entry points one from Rau-Pithampur Road and the other from Rau Khalghat, 4-lane road. Central Green Park, jogging track, exclusive clubhouse, swimming pool, gym, steam and Sauna bath, kids zone, community hall, basketball and badminton court will be part of this project.

                                  Courtesy: - HT dated: - 21^st June 2008

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