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Real Estate Agent in Hyderabad

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Archives for April 2020

Home – COVID-19, realize the value of owning

Home - COVID-19
Realise the value of owning a Home

Home – COVID-19, The crisis that has made us realise the value of owning a home. While the Corona virus pandemic has affected all asset classes, real estate may emerge as a sought-after option by investors and end-users alike, after the lock down ends

RERA Licensed Real Estate Agent in Hyderabad

Following the Corona virus outbreak, what seems to be inevitable, is that the world as we know it will no longer be the same. Every single sector – manufacturing, construction and services – will have its own trials and tribulations. The first salvo of the stimulus response to the pandemic, has already been fired by the union government. Globally, state loans, income subsidies and tax deferrals, are the most common fiscal packages being offered. The government of India and the central bank too are doing the same, by infusing liquidity into the system.

Economic stimulus packages in Covid-19 owning a Home

The RBI governor has already cut the reverse repo rate by 25 basis points to 3.75%, while keeping the repo rate at 4.4%, in its emergency measures to provide more relief to an economy that is fighting the fallout of the COVID-19 pandemic. The Reserve Bank of India (RBI) has brought down the LCR (Liquidity Coverage Ratio) requirement of banks to 80% from 100%, giving more liquidity to banks. It has also announced a Rs 50,000-crore special finance facility, to be provided to NABARD (Rs 25,000 crores), SIDBI (Rs 15,000 crores) and NHB (Rs 10,000 crores). The surplus capital will, hopefully, help refinance commercial and housing finance banks, to infuse liquidity into the market. Earlier, in March 2020, the RBI cut the repo rate by a massive 75 basis points, while finance minister Nirmala Sitharaman had announced a mega economic relief package worth about Rs 1.7 lakh crores.

Vastu tips for the dining and living rooms

Vastu dining living

Vastu living room and dining room, are spaces where the entire family spends time together, relaxes and also shares meals. We look at some Vastu Shastra norms to boost the positive vibes in this area of the house

RERA Licensed Real Estate Agent in Hyderabad

According to the principles of Vastu Shastra, it is important to align man-made settings with the forces of nature, for health and success. Hence, Vastu rules are useful, for planning of rooms and the placement of furniture, to create a smooth flow of energy throughout the home. The living and dining rooms, which are places where the family gathers, have to be welcoming, comfortable and exude a positive ambiance.

Vastu colours for living room and dining room

Colours can impact our well-being and when used aesthetically and in the right combination. It can create a warm atmosphere. Colours recommended for the living and dining rooms are off-white, pink, light yellow and other soothing colours. “If the dining area is in the east. Then, paint the walls in yellow, saffron or peach. If it is in the north, opt for light green and blue colours. In the morning, open all the windows and ensure that the room is well ventilated. Therefore, sunlight leads to cleansing. In addition, avoid watching television while eating.

The main entrance should be clean and have enough light. The dining area should have adequate light and not be dull. Try and create a warm and inviting dining area, to make meal time enjoyable. However, choose attractive pendant focus lights or a chandelier above the table, to create a soothing ambiance. In Addition, one can have simple wooden chairs, leather upholstered chairs or fabric upholstered chairs. Moreover, for furnishings, use patterned options against plain walls or vice-versa. However, avoid excessive use of design and colours.

Akshaya Tritiya Plots & Home Buying over other asset classes

Akshaya Tritiya Plots & Home Buying
real estate over other asset classes

Akshaya Tritiya Plots & Home Buying several reasons to justify why it makes sense to opt for real estate over other asset classes.

RERA Licensed Real Estate Agent in Hyderabad

5 reasons Akshaya Tritiya Plots & Home Buying over other asset classes

  1. Property prices are at their lowest point. Moreover, the market is less volatile now and prices are bound to increase gradually but steadily.
  2. It is easy to mortgage property and generate liquidity immediately, in times of need.
  3. Real estate can generate steady income, in the form of rent.
  4. Investing in property also has several income tax benefits.
  5. Gold, shares and other similar investment assets, are actually more volatile in terms of their market prices, in comparison to realty.

Property investment during this Akshaya Tritiya

Buyers should explore options, based on the size of their investment, expected returns and risk capacity. Big cities and metropolitan regions like Hyderabad, require large investment and the returns are relatively lower, in comparison to emerging cities, where the investment corpus required is low and the returns are relatively higher.

The most attractive cities for investment in property during this period, are Shadnagar peripheral areas, Kothur, Patancheruvu, Isnapur and all the emerging locations where large projects, such as the Hyderabad Industrial growth areas, are making a big impact. These areas in Hyderabad are also attractive, because of the faster uptake of commercial real estate in these markets. This gives clear signs for firming up of demand for residential real estate, which typically lags the commercial segment by around one to two years.

Akshaya Tritiya, because of its auspiciousness among potential home buyers, has brought impressive sales for the real estate sector. This year, developers are hoping to make the most of this day to ensure a spike in business, which has more or less remained tepid across the country, as a result of the lockdown due to the COVID-19 pandemic. These deals and offers will provide a compelling reason to close transactions, without visiting the site

Akshaya Tritiya COVID-19 pandemic: Should you buy Home or Plot?

Akshaya Tritiya COVID-19
Akshaya Tritiya COVID-19 pandemic

Akshaya Tritiya COVID-19 pandemic, it may make better sense to buy real estate, instead of other assets. Here are the reasons why

RERA Licensed Real Estate Agent in Hyderabad

As Akshaya Tritiya is considered an auspicious time to invest in property, every year, prospective home buyers hope to finalise their purchase during this period and also look for lucrative offers to sweeten the deal.

However, due to the COVID-19 pandemic and India under a complete lockdown, real estate investment is taking a backseat for most of the investors, right now. Over the past two to three years, property prices in most places have not increased and in certain cases, it has even gone down. Consequently, home buyers today may be able to get houses for a lesser amount, as compared to those who purchased around four years ago, by around 30%-40%, adjusting for the interest paid on the investment.

A matter of timing – Akshaya Tritiya COVID-19 pandemic

Investing in real estate at this point of time makes sense, as the market is at a low due to the pandemic. Recent policy changes, such as the cuts in repo rate, have made home loans cheaper, as a few banks have passed on the benefits of lower interest rate to borrowers. However, home loan disbursements have not started yet, as the physical verification cannot be carried out by banks and will be done only when the government allows digital signatures, or when the lockdown comes to an end.

Akshaya Tritiya, because of its auspiciousness among potential home buyers, has brought impressive sales for the real estate sector. This year, developers are hoping to make the most of this day to ensure a spike in business, which has more or less remained tepid across the country, as a result of the lockdown due to the COVID-19 pandemic. These deals and offers will provide a compelling reason to close transactions, without visiting the site.

Story of a couple who built Design Cafe and its turnover is Rs 120 crore every year

Design Cafe

A Design Cafe, which is a Bengaluru-based interior designing firm, has been doing for many years. Co-founded in the year 2015 by the couple identified as Shezaan Bhojani and Gita Ramanan

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align”justify”The firm has a strength of over 800 workers, designed 5000 homes across India and featured in over 30 design publications across the world. The company has won several awards for their products that are manufactured in elegant designs. The couple is looking to make Design Cafe the most trusted home interiors brand in the country.

Let’s learn about their journey. Shezaan and Gita both graduated from the same BMS School of Architecture, Bangalore, and this was the place where they first stumbled upon each other. They started developing a good understanding for each other and they became life partners. But little did they know they would also become work partners. They share a great deal of relationship as they have known each other for almost two decades and have been working together ever since passing out of college.

Their professional life kick-started when they bagged the interior design project of an 800-apartment complex in a contest. Despite the fact that they were not into entrepreneurship, the greatest achievement of the 800-apartment complex project literally changed their minds. It was then they started the firm DesignInc. and went on to design over 500 projects across India in several sectors including residential, commercial hospitality, and institutional design and continued for the next ten years which helped them learn the tricks and trade of the business.

Today, Design Cafe is a successful brand and has a staggering turnover of approximately Rs 120 crore each year. The company has as many as four stores in three major cities – two in Bengaluru, one each in Mumbai and Hyderabad and has a workforce of 800.

Real Estate during Lockdown in Hyderabad

Real Estate during Lockdown
COVID-19 pandemic

Real Estate during Lockdown in Hyderabad is Home buying affordable?

RERA Licensed Real Estate Agent in Hyderabad

Real Estate during Lockdown, Home buying to be affordable

In order to push demand, amid the economy staring at a 2.5% growth in 2020, the government has launched several measures to make property buying affordable for consumers. Low interest rates and likely corrections in guidance values, could make purchases more affordable for the middle class. As it is, the tax deduction limit for first-time home buyers has been increased to 3.50 lakhs per annum, under Section 80EEA.

Interest rates to fall

The RBI has already brought the repo rate, at which it lends to banks and the rate which ultimately decides how much interest borrowers pay on home loan, to a record low of 4.4%. This was done by the banking regulator, to cushion the possible blow caused by the spread of the virus on demand in general and the economy in particular. This reduction in repo rate would make home loans more affordable for buyers. No hike in interest rate is likely, at least in the short to medium term.

Real Estate during Lockdown, Project delays may increase

Home buyers may have to wait for longer for the delivery of housing projects that were scheduled to be completed in the coming months. While construction activity has come to a halt for now, it is also not likely to pick up much speed even after the country is able to afford some normalcy. This situation might also force builders to ask for the Force Majeure clause on delays.

Construction to slow down

Amid a nation-wide lock down to slow down the Corona virus spread, thousands of migrant workers, mostly daily-wage workers, resorted to mass exodus. Since the construction industry in India largely depends on this unorganised labour force, activity is going to be slow, even when things gradually come back to normal.

Lockdown, COVID-19 Real Estate impact

COVID-19 Real Estate
COVID-19 Real Estate impact

COVID-19 Real Estate market has impacted due to Lock down. We look at what home buyers and sellers can expect from Hyderabad’s real estate sector, in a post-Corona virus world

RERA Licensed Real Estate Agent in Hyderabad

The Corona virus pandemic, which is likely to erode trillions of dollars of wealth. As a result, it exacts huge human loss upon the world. Likely, to reshape property markets as we know them. Here’s a look at what we can expect from India’s real estate sector, in a post-Lockdown world.

COVID-19 Real Estate Lockdown -Site visits to fall

Prospective buyers would carry out a large part of their searches and research online. However, Once they shortlist a few properties, they may undertake a physical visit of the sites. As a result, they can take the final call. If anything, sellers and developers have a reason to be happy about this likely change. Meanwhile, as those visiting the property are likely to be genuine buyers. Subsequently, who are in the last leg of making a decision. In addition, This also saves a lot of time and energy for all parties concerned.

Will property prices rise?

In case, you expect housing prices to crash in the backdrop of the Corona virus scare. On the other hand, you may be disappointed. Therefore, as a result, Building and development may become costlier for builders. Above all, amid likely delays in supplies and government approvals. Consequently, This would reflect in pricing, as well.

For a variety of others reasons — primarily springing from the fact that even the top-rated developers in the country are already under tremendous monetary pressure, because of an ongoing slowdown in the housing market — chances of property prices dropping will be slim.

Home buyers may have to wait for longer for the delivery of housing projects. Meanwhile, that were scheduled to be completed in the coming months. While, construction activity has come to a halt for now. Further, it is also not likely to pick up much speed even after the country is able to afford some normalcy. This situation might also force builders to ask for the Force Majeure clause on delays.

Should you buy a home during the COVID-19 pandemic?

COVID-19 pandemic

In COVID-19 pandemic should one consider a property investment?. While the obvious answer seems to be ‘no’, there are many upsides to investing in a real estate asset right now.

TS-RERA Licensed Real Estate Agent in Hyderabad

Countries across the world are busy fighting the Corona virus pandemic. While, businesses are struggling to keep their workforce afloat. Uncertainty is widespread, in terms of jobs, career, finances, dividends, stocks or bonuses. However, this has also affected home buyers. Including, investors who were considering real estate investment before the disease started spreading. In addition, the lock down has brought economic activity to a standstill. Therefore, affecting consumption and income. Amidst all this, should one consider a property investment? While, the obvious answer seems to be ‘no’, there are many upsides to investing in a tangible asset right now.

Benefits of investing in real estate during the COVID-19 pandemic

Benefits of investing in real estate during the COVID-19 pandemic

  1. Lending rates are at their lowest

    The Reserve Bank of India had announced a cut in the repo rate, which will bring down home loan interest rates, as most of the banks have launched repo-rate linked home loan products. At present, the repo rate stands at 4.4%, the lowest ever. For those who have sufficient liquidity to invest, this could be a perfect time to strike a deal and get your home loan approved before things get back to normal.

  2. Possible negotiations

    Builders and property agents are desperate to clear their inventory, to generate liquidity and resume cash flows. Some of the builders are also offering refundable booking amounts, to lure home buyers. So, this can be a good time for you to negotiate a deal with your developer/agent. If you have already visited the property before the lock down, you are in a position to make a decision when it comes to a ready-to-move project. For under-construction property, you can take a video walk-through or a 3D tour of the sample apartment. Also, understand the location advantages, neighborhood, amenities and facilities available around the project. Factor in the final price, only after taking a realistic approach and assuming that project delivery will be delayed.

  3. Demand-supply slowdown

    Demand has dried down and new supply is no more entering the market, due to the lock down. Once everything gets back to normal, it will take at least a month for real estate construction to gain pace. “Once the lock down gets lifted, it will take time for developers to resume construction work, as most of the laborers have left for their home towns.

  4. Real estate is the perfect asset class

    Real estate is certainly a safe bet for investors and their interest is far from over. Real estate will prove to be the perfect asset class in terms of both, regular income as also capital value appreciation. Once the lock down is over, experts expect higher returns from the market, which certainly makes this a perfect time for investors to sign the deal.

Coronavirus: What should newly-built housing complexes with no society in place do?

newly-built housing complexes

Newly-built housing complexes in the absence of a society, some residents continue to lead life. However, like always within the society, with children playing in the park, people walking in the complex, etc., which should not be the case

Real Estate Agent from Hyderabad

In a bid to control the Corona virus outbreak, the Indian prime minister ordered a 21-day lock down that started on March 25, 2020, which has now been extended till May 3, 2020. Social distancing, which is crucial to avoid the spread of the virus, is being followed meticulously by housing societies across India barring a few. These exceptions are mainly people who belong to complexes that do not have a society in place that can enforce and take disciplinary action. Moreover, some residents continue to lead life like always within the society, with children playing in the park, people walking in the complex, etc., which should not be the case.

Who should maintain the society before OC is given for newly-built housing complexes?

Under Section 11 of the RERA, it is the developer’s responsibility to handle the maintenance, till the project is handed over to the society.

By when should a developer hand over the society?

Under Section 17 of the RERA, the developer must hand over the control to the residents’ welfare association, within three months of obtaining the occupancy certificate.

Who should implement COVID-19 rules in a housing complex?

Newly-built housing complexes that do not have a society in place. Consequently, may have trouble implementing rules pertaining to the entry of visitors. But, house helps and drivers, among others. In such cases, the onus falls on the developer of the complex. “Assuming it to be a newly-constructed building in a Real Estate Regulatory Authority (RERA)-registered housing project, compliance with Section 11 of the RERA Act will be mandatory. Under Section 11, till the time the maintenance of the project is handed over to the society, it is the developer’s responsibility to handle all the affairs. This transfer of control, under Section 17, must take place within three months of obtaining the occupancy certificate (OC).

COVID-19: How to accept token money online? Real Estate in Hyderabad

Real Estate in Hyderabad

Real Estate in Hyderabad. For property agents/sellers, the deal is sealed when the home buyer agrees to pay the token money. But, how do you accept it online with no physical documents to seal the deal?

Am a Licensed Real Estate Agent from TS-RERA in Hyderabad.

With the lock down to deal with the Coronavirus pandemic being extended in the country till May 3, 2020. Real Estate transactions will continue to be technology-driven across markets. From digital site tours to video walk through, investors are currently adhering to social distancing norms. while, making the most of the economic halt. Since, negotiations are on the table, deals with 100% refundable booking amount are luring buyers. However, who are seeking to own a home and have the cash to spend. For property agents/sellers, the deal is sealed when the home buyer agrees to pay the token money. On the other hand, how do you accept it online with no physical documents to seal the deal?.

Real Estate in Hyderabad should use official email IDs to communicate

Use your official email ID to acknowledge the payment. Which, received as token money. Since, the amount has been sent to the builder’s account, you have to mention that the acknowledgment is subject to the confirmation or realization from the builder’s accounts department.

Mention the expected turnaround time

Do mention the expected timeline for receiving a reply from the builder’ office. Which, could be up to 7-10 working days. Inform the buyer about any delays in response. However, arising from the limited workforce due to the COVID-19 pandemic. Also, tell the buyer that once the developer confirms the payment, he will directly send the confirmation to them on the registered email-ID.

Ask for proof of payment transfer

If, by any chance, the buyer has not attached the proof of NEFT/RTGS payment in the mail, ask for the transaction ID and the online slip/screenshot of the payment confirmation. This should be done in a single mail thread, to avoid multiple emails with similar communication. Also, confirm the total amount paid as a token, to avoid discrepancies.

Spell out the clauses clearly

This is a difficult time and buyers will be extra cautious, while investing right now. Therefore, you should mention some of the clauses very clearly, to avoid future problems. Suppose, if you are offering a refundable deal, mention that clearly and also the terms and conditions related to it. This includes last date of cancellation, agreed price and payment information.

Real Estate in Hyderabad formalities after the Coronavirus lock down is lifted

Once the lock down is over, you can send the application form (Expression of Interest) to the buyer, which has to be filled manually and has to be submitted to the builder’s office. Other documents including MoU, payment receipt, etc., can be also sent once the EOI is sent to the builder. The sale agreement can be drafted accordingly and can be signed, once everything gets back to normal.