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The long term growth of the real estate market, depends a lot on how the home buyers are empowered to take decisions and given a platform to fight for their rights. Legal recourse is normally the last option for any home buyer, when something goes wrong. Nevertheless, there are several measures that buyers can take, to empower themselves. Home buyers also need to be proactive in their decision making, by using various new-age analytical tools available in the market. “Customers, today, are already taking informed decisions and making comparisons over digital and mobile platforms,” says Sumit Jain, national director – residential services, at Colliers International. Marketing that focuses on enhancing customers’ experience, is likely to become a key enabler and make easier for customers to evaluate purchases, adds Jain. Proactive steps required Home buyers should make regular visits to the project site, to verify that the construction is progressing as per schedule. “The...

With numerous policy changes being announced in 2016, will the property market become more buyer friendly? We look at what home buyers expect in 2017 and whether developers can address these concerns, without any extra burden A majority of home buyers (as many as 82%), believe that the wide trust deficit between the builders and the buyers, can be bridged to a considerable extent, if the developers genuinely come forward for a dialogue to understand the home buyers’ point of view, according to a survey by real estate think-tank group, Track2Realty. More than seven out of 10 (72%), maintain that the buyer must have access to communicate with the builder throughout the project’s lifecycle. Nearly as many (68%) feel this will address conflicts, even if there are changes in the layout of the project. More than half of the home buyers feel that if the developer starts collaborating with the buyers, then, the buyers will also understand his point of view, in case of any delay, poli...

World Trade Center, which is headquartered at New York, US, has a wide network of offices, spanning 90 countries across the globe with the core objective of promoting trade and investment opportunities. Apart from promoting business, the other striking feature of this organisation is it’s trade centres. Every World Trade Center Association’s project is an iconic structure, reflecting international standards of construction. WTCA, at present, is working towards strengthening its base in Asia-Pacific with a keen eye on India. It’s rising interest in Indian market is visible in the number of projects that the association is planning to launch and has even launched in the country. Did you know that the first ever WTC in India was launched back in 1970 in Mumbai. Now, the association has tied up with Viridian Group to promote and develop the projects in the country. PropGuide lists the major WTC projects in India which were launched in the country recently. WTC Noida Stra...

Homes tend to reflect our times, with a blend of traditional aspects, modern design and new-age technology. Here’s a look at some of the home décor trends that are likely to dominate the new year Natural home décor materials will be in demand in 2017 Materials such as stone, colourful granite and terracotta, are making a comeback in the interior designing space. These materials are ideal for minimalistic and contemporary forms of design and can be modified to suit one’s needs, shares architect Ricky Doshi, founder of ARD Studio. “The durability of these materials, has helped them to make a comeback. For example, crushed pieces of stone, can be moulded together to form any desired shape, while maintaining its traditional properties. Such modifications, also helps give designs a more rustic look. We have seen such décor in restaurants and lounges, in 2016, where a combination of natural materials like stone, brick, bamboo and jute have been used, to create an aesthetic loo...

The next year various states will finalise and set up regulator for the sector and developers are expected to focus more on deliveries than new launches to reduce inventory levels. BENGALURU | MUMBAI  : The year 2016 was an inflection point for the real estate sector and with Real Estate Regulatory Act (RERA) becoming a reality, rising consumer activism and highvalue currency demonetisation that hit cash transaction oriented sector hard is easily a watershed year. All of these factors have contributed in laying foundation to take realty , which laying foundation to take realty, which has so far remained saddled with unethical practices, towards much-needed transparency and providing comfort and legal cushion to homebuyers . The next year various states will finalise and set up regulator for the sector and developers are expected to focus more on deliveries than new launches to reduce inventory levels. Home buyers will benefit immensely with affordability set to increase a...

The year 2016 has come and gone so fast! For the Indian real estate sector, it was a big year of news and policy level changes. As we, all are preparing for 2017; let us take a look at the major milestones and trends that defined the past 12 months and will have a significant bearing on prospects of the market as well. 1. Various policy reforms jiggled the market, but everyone agreed over their long-term positive implications: The year started with hope and optimism with the union budget announcement that seeks to set in place the foundations for a robust economy in the longer term by prudent fiscal management. While the whole economy was going through the policy reform, real estate sector remained in headlines due to many policy level changes. Real Estate (Regulation and Development) Act 2016 (RERA), Benami Transaction Prohibition (Amendment) Act 2016, amendments in Real Estate Investment Trusts (REITs) regulations, Goods and Services Tax (GST) and Demonetisation, were the...

Firm to use proceeds to buy back 20% stake sold to Goldman in 2014, expand hospitality business. Despite the added uncertainty in the realty market after Demonetisation, Vatika Group , one of the largest non-listed companies in the segment in the north, has managed to raise close to Rs 1,700 crore in less than 10 days from various investors. The company plans to buy back (in 2017) the 20 per cent stake it sold to Goldman Sachs in 2014, said Mr. Gaurav Bhalla , Managing Director of Vatika Hotels , the group's hospitality arm. In the latest round, Vatika Hotels raised Rs 495 crore from Axis Bank to finance its aggressive growth plans. The company has a major expansion on the anvil in 2017, in commercial real estate, hotels, hospitality and a new quick service restaurant (QSR) venture, which it aims to take abroad as well. Within a week, Vatika Group sealed three major investment deals, while the rest of the market is fighting the effects of demonetis...

Impact of Demonetisation on Land Prices Following the government’s Demonetisation drive, land prices in the fringe areas around metros and tier-2 and tier-3 are likely to plummet in the coming years. This may bode well for home seekers looking for affordable housing Post-demonetisation, the affordable housing segment, which is confined to the fringe areas of metros, is expected to get a boost as land prices will plummet in the next few years, especially in far-flung areas around Indian metros, and the tier-2 and tier-3 cities. Most agricultural land transactions, involve a cash component, which has been affected after prime minister Narendra Modi’s announcement on the evening of November 8, 2016. Rs 500 and Rs 1,000 notes ceased to exist as legal tender from November 9. Land dealings involving a cash component, therefore, will no longer be carried out in the old ways. Those dealing in cash, will be unable to pay in the old currency notes and those with undeclared sources of...

While the online medium may be a good place for an NRI to begin his property search, one cannot completely rely on such information alone. We examine the other factors that NRI buyers should consider, before finalising a deal Non-resident Indians (NRIs) may often find it impractical to physically come and see a property, while scouting for one, even if they have a keen interest in the Indian property market. Hence, developers are now increasing their online presence. From digital advertising and other connected platforms, to offering virtual tours of the property, developers are leaving no stone unturned, to attract NRIs. Several facts suggest that the trend of online property search and buying, has grown significantly among the NRIs. A majority of the   NRI buyers , connect to developers directly through online ads. Underscoring the importance of online sales to NRIs and HNIs, Tata Housing has said that it has sold a villa worth Rs 5.5 crore, online. Google’s G...