Urbanization boost realty growth
Urbanization boost realty growth and Real estate sector are dependent on each other. Therefore, the greater urbanization the realty sector would be higher. And, what would be the impact of urbanization on the domestic real estate sector?
Now, urbanization is proceeding through the fast lane in the country. Including, migration of people to the towns and cities is on the rise for the past several years. Hence, more and more people are migrating to towns and cities. Subsequently, the demand for residential homes, residential real estate would grow on. In this context, it is essential to understand the impact of urbanization on real estate.
Urbanization Community living
Further, gated communities and integrated township concepts have become quite popular with the people. Meanwhile, the growing trend is attributed to the desire of the people to upgrade their standards of life. Moreover, people are inclined to live in places that are poised to grow further. Likewise, people prefer to live in places having suitable connectivity with other regions, modern amenities and greenery.
Smart cities development
So, Smart cities development is a significant change. As a result, the cities have been designed in such a way to have developed technologically and environmentally stable. Above all, the Centre has devised a smart cities policy with the objective of providing better infrastructural amenities to people living in cities. Most importantly, better homes and better services for them. Digitalization has been revolutionizing the real estate sector too. Further, the cities have transformed into digital hubs that promote urbanization. Meanwhile, the demand for high-end housing has gone up. Subsequently, the people are keen to upgrade their living standards now compared to earlier. And, they are looking for multi-functional modern homes. Further, with the growth of real estate, the categories in real estate are also on the rise.
Now, Urbanization of population is lending the much-needed support to the real estate sector growth. Hence, the demand for real estate growth is due to the increase of the per capita income. Therefore, the urbanization that promotes the income level of the individuals is also influencing real-estate rather positively.
Hyderabad Metro Phase 2
Hyderabad Metro Phase 2 is about 63 km project with an Airport Express Line is currently in the proposal stage. In February 2020, its detailed project report (DPR) with 3 new lines & extensions of existing lines was submitted to the Telangana government for approval.
Further, as per the latest plan revealed by Hyderabad Metro’s MD, the Phase 2 project will include 4 elevated corridors – 1 new line and 3 extensions of the existing lines built in the 67 km Phase 1 project. Now, it hasn’t been finalized whether this phase will be developed on the EPC method or on the PPP (Public-Private Partnership) route.
- In conclusion, estimated Cost: Rs. 8453 crore (Pending Route Finalization & Approval)
- Phase 2 Deadline: Not Finalized (Pending Route Finalization & Approval)
- Completion Estimate: 2030 (no sooner, if approved by state government in 2023)
New Plan Hyderabad Metro Phase 2
Airport Express Line: Mindspace Junction – Rajiv Gandhi International Airport (RGIA)
- Length: 32 km
- Type: Elevated (28.5 km), At-Grade (1 km) & Underground (2.5 km)
- Number of Stations: 8
- Stations Names: Bio-Diversity Junction, Nanakramguda, Narsingi, TS Police Academy, Rajendranagar, Shamshabad, Airport Cargo, Airport Terminal
Note: Most importantly, this new line will pass through Gachibowli and Himayathsagar via the Outer Ring Road (ORR) to connect up with Rajiv Gandhi International Airport in Shamshabad. So, its Detailed Project Report (DPR) for this extension was prepared by the Delhi Metro Rail Corporation in 2018-19. As a result, the line is estimated to cost Rs. 6,250 cr and will be executed by Hyderabad Airport Metro Limited (HAML) – a new special purpose vehicle. Therefore, funds are expected to be provided by Hyderabad Metropolitan Development Authority (HMDA) and GMR Group.
The following are the Hyderabad Metro Phase 2 Developments
Red Line Extension: Miyapur – Lakdikapul
- Length: 26 km
- Type: Elevated
Note: Subsequently, this extension will connect and pass through Miyapur – BHEL – Kondapur – Gachibowli – Raidurg – Mehdipatnam – Masab Tank – Lakdi Ka Pul (located also on the Red Line). Meanwhile, intersecting itself to form a small ring for the north-west quadrant of the city.
Blue Line Extension: Raidurg – Mindspace
- Length: 1 km
- Type: Elevated (1 km)
- Number of Stations: 1
- Stations Names: Mindspace Junction (interchange with Airport Express Line)
Blue Line Extension: Nagole – LB Nagar
- Length: 5 km
- Type: Elevated
Note: In other words, this small extension of the Blue Line will connect up to the Red Line’s Nagole Station. Hence, both station boxes at LB Nagar will likely be connected via foot overbridge (FOB). As a result, as the Red Line’s station is about 400m away from the Inner Ring Road.
Guru Purnima: Inspirational Quotes by Gautam Buddha
Guru Purnima is a festival celebrated to honour and express gratitude towards one’s spiritual and academic teachers. In fact, Gautam Buddha’s teachings and philosophy align with the essence of this festival. Although, Gautam Buddha did not explicitly mention Guru Purnima in his teachings. However, his teachings and spiritual journey embody the spirit of a guru and the significance of seeking guidance and wisdom.
Gautam Buddha, also known as the Supreme Teacher. Most importantly, was an enlightened being who dedicated his life to guiding others towards enlightenment and liberation from suffering. His teachings, known as the Dharma, emphasized the Four Noble Truths and the Eight-fold Path, which provide a comprehensive framework for personal transformation and spiritual growth.
Quotes by Gautam Buddha with the spirit of Guru Purnima:
- “Do not blindly believe what others say. See for yourself what brings contentment, clarity, and peace. That is the path you should follow.”
- “Thousands of candles can be lit from a single candle, and the life of the candle will not be shortened. Happiness never decreases by being shared.”
- “A jug fills drop by drop.” (Emphasizing the importance of continuous learning and the accumulation of wisdom over time.)
- “No one saves us but ourselves. No one can and no one may. We ourselves must walk the path.”
- “Just as a flower does not pick and choose whom it gives its fragrance to, a compassionate heart radiates love and kindness to all.”
- Every experience, no matter how bad it seems, holds within it a blessing of some kind. The goal is to find it.
- Do not dwell in the past, Do not dream of the future, Concentrate the mind on the present moment.
- Health is the greatest gift, contentment the greatest wealth, faithfulness the best relationship.
- If you light a lamp for somebody, it will also brighten your path.
- Nothing ever exists entirely alone; everything is in relation to everything else.
Therefore, these quotes by Gautam Buddha encourage individuals to seek truth and wisdom. But, through their own experiences and to cultivate qualities of compassion, self-reliance, and continuous learning. Above all, they remind us of the importance of personal growth and the transformative power of knowledge and self-realization.
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Role of Real Estate in RERA
A forever real estate agent understands that the concept of home is predicated on the many changes life can bring, and it doesn’t start—or end—with the transaction.
Role of Real Estate in RERA. Consequently, when you go shopping we see some young people handing out brochures at the parking lot. Likewise, even if you go to a supermarket, banks, ATMs, etc., in every crowded area, you will see some agents holding brochures of various real estate ventures and trying to sell plots. However, RERA has noticed that most of these agents are trying to sell things that are not approved by RERA. Further, if someone tries to tell you the details of the ventures ask him whether its a rera approved project or not.
Above all, some real estate companies in Telangana state are trying to cheat the buyers. Most importantly, in the name of prelaunch, agents are being sent door to door saying that the rate is low. Therefore, they are selling plots. So, some buyers believe that it is true and blindly believe that there will be no problems if they buy it. As a result, those who have been cheated, are currently making rounds around the RERA office. So, whoever brings a brochure saying that plots will be sold, don’t take the final decision. In conclusion, your investment is fully protected by buying only in RERA projects. Meanwhile, The Telangana RERA Authority has focused to take action against such realty agents and corporate sales companies.
What is RERA saying? and Role of Real Estate in RERA
Firstly, Agents registered with RERA should conduct sales only in projects or ventures registered with Telangana RERA. Secondly, Agents registered with RERA should not undertake sales in ventures not approved by RERA. To clarify, Telangana RERA Authority will take strict action against any agents in Hyderabad as well as different cities if they behave against the rules. For instance, don’t forget that there is also a fine. In addition, according to Section 9 (1) (2) of RERA Act Real Estate Agent or Company must sell only plots and flats in RERA approved project. Most importantly, selling real estate intermediaries must be registered as an Agent with RERA. On the other hand, if selling in a project not registered in RERA according to section 62, the agents will be fined at the rate of Rs.10,000 per day. In other words, it is levied at a maximum of five per cent of the plot or value of the flat.
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Unauthorized Construction in Noida Supertech Twin Towers Have Been Demolished
Unauthorized Construction in Noida by Supertech twin towers were demolished on Sunday (August 28). The demolition of the Emerald Court project in Noida is leading to a loss of about Rs 1,000 crore to developer Supertech. It also took nearly Rs 20 crore to raze the building. So, why have the buildings been razed?
The twin towers (namely Apex and Ceyane) are located at Sector 93A in Noida. One of the buildings has an altitude of 103 metres, while another is around 97-metre tall. For the demolition, about 3,700 kg of explosives were brought from Palwal (Haryana) to be used. It was a mix of dynamite, emulsions and plastic explosives.
The ‘Supertech Emerald Court’ housing society in Noida, in which the two towers are located, was proposed to be built in 2004. The Noida Authority allotted a plot of land measuring 48,263 sq metres, which was a part of Plot No 4 situated in Sector 93A.
In 2005, the Noida Authority sanctioned the building plan for the construction of Emerald Court consisting of 14 towers, each with ground and nine floors (G+9). The construction commenced for these 14 towers.
In June 2006, the total leased area allotted to the company increased to 54,819.51 sq metres. Under the rules, the floor area ratio was also increased from 1.5 to 2 for the new allottees after 2006.
In December 2006, NOIDA sanctioned the first revised plan for the Emerald Court under the NBR 2006, by which two additional floors were added, thereby bringing all of them to ground and 11 floors (G+11). Also, additional buildings were also sanctioned — Tower 15, Tower 16 and a shopping complex.
In 2012, the Noida authority reviewed the new plan, in which the height of the twin towers was fixed at 40 floors.
In August 2021, the Supreme Court ordered the demolition of the structures as their construction violated the minimum distance requirement. According to the court, the buildings were built Unauthorised Construction in Noida without taking the consent of the individual flat owners as required under the UP Apartment Act.
The apex court also said Supertech and the Noida Authority engaged in a “nefarious complicity”. It then ordered Supertech to demolish the buildings at its expense, under the guidance of the Noida Authority.
In 2014, the court had directed the authority to demolish the buildings which is Unauthorised Construction in Noida within 4 months at its own expense.
Regarding Unauthorized Construction in Noida, The Supreme Court’s decision comes after a number of petitions by home buyers.
The buildings were to be demolished in May, which later postponed to August 21. Recently, the Supreme Court also extended the deadline to August 28, with a band of 7 days till September 4 due to technical issues and weather conditions.
About Dubai – Capital of the United Arab Emirates (UAE)
About Dubai, it is the most populous city and the capital of United Arab Emirates (UAE). Established in the 18th century as a small fishing village, the city grew rapidly in the early 21st century with a focus on Real Estate, tourism and hospitality, having the second most five-star hotels in the world, and the tallest building in the world, the Burj Khalifa.
In addition, it also been called the “shopping capital of the Middle East”. And, alone has more than 70 shopping centres, including the world’s largest shopping centre and Mall. Dubai is also known for the historical souk districts located on either side of its creek. Traditionally, dhows from East Asia, China, Sri Lanka, and India would discharge their cargo and the goods would be bargained over in the souks adjacent to the docks. The Creek played a vital role in sustaining the life of the community in the city and was the resource which originally drove the economic boom in Dubai.
About Dubai multiple Districts or Municipalities
Jumeirah — A diverse district whose residents are the Europeans to the Filipinos to the Pakistanis; a mixed Little Europe, Karachi and Manila. Jumeirah is much favoured by Europeans due to the ease of access of the beach, Beautiful villas are seen here. Jumeirah Beach, Jumeirah Beach Residence’s the Walk and Jumeirah Mosque are the top attractions.
Downtown Dubai — While Bur Dubai and Deira are traditionally considered “Downtown”, the Downtown Dubai development is smack in the center of the “New Dubai,” between Dubai Marina on the south end and the border with the city of Sharjah to the north. It includes the Burj Khalifa (tallest building in the world), the Dubai Mall (world’s biggest), Fountain, and lots of other skyscrapers and hotels.
Dubai Harbour — Set to open in October 2020, Dubai Harbour will be an iconic, innovative and luxurious waterfront development, creating a world-class maritime facility with the biggest and most advanced cruise terminal and marina in the region. Inspired by the Gulf’s long tradition with the sea, the Harbour is set to further enhance the position of Dubai as a leading global hub for maritime tourism, attracting visitors from all over the world. Located right in the heart of Dubai, in the vibrant area between the iconic Bluewaters and Palm Jumeirah, Dubai Harbour is a stone’s throw away from the city’s most recognised landmarks, beautiful beaches and world-famous attractions.
Dubai Marina — is a mega-development that borders Jebel Ali (the world’s largest man-made port). It is full of skyscrapers and hosts the “Jumeirah Beach Walk” with a number of restaurants, hotels an open-air market when the weather permits, and frequent shows. Marina houses one of the highest concentrations of Westerns in Dubai. There are many hotels surrounding Marina.
Satwa — One of Dubai’s Little India and Little Manila, due to the presence of Filipinos and Indians, a rise in Filipino and Indian restaurants, shops, supermarkets are seen here. Gold and textiles is what people come here for, Gold Souk might be your top destination but Satwa too has gold shops and is hassle free, not so crowded.
Karama — More of like a mixed commercial residential district, one of Dubai’s Little Indias and Little Manilas, cheap eats and cheap buys are the top things here.
Bur Dubai — A historical district and Bur Dubai is usual term for the area from Jumeirah to the creek, the creek separates Bur Dubai from Deira. Tourist attractions from abras to souks to floating restaurants to the famous creek are found here.
Bluewaters — is a vibrant lifestyle destination featuring distinctive residential, retail, hospitality, and entertainment options. All who arrive are spoilt for choice. Home to Ain Dubai, the world’s largest observation wheel, it is also a shopper’s paradise, housing unique retail and dining concepts.
Dubai World Trade Centre- a district that was only sand and emptiness only a decade ago but is now a free zone of commercial economic activity, from office spaces, co-working spaces, and entertainment attractions, to warehouses, expensive hotels, and lavish restaurants.
Deira — Dubai’s old Financial centre, today Deira is a bustling commercial-residential district of Indian, Pakistani, Persian, and Arab cultures with some old souks, including one specializing in spices. Many Iranian, Iraqi, Yemeni, Pakistani, Indian, Afghani and other immigrants from poorer Middle Eastern, South Asian, and Central Asian countries call this area home.
Arabian Ranches and Emirates Hills — These are two separate places, residential rents here are expensive due to the land value, just like the whole of Dubai, these two are Man-made.
Mirdiff/Mirdif — A commercial-residential district which is somewhat newly built and lies directly under the flight path to Dubai International Airport. Mirdif City Center is one of the attractions. This is another residence for the well-to-do.
International City — Just a simple residential area in the middle of the desert, what’s special about it is its architectural design, the residential rents here are cheap and is somewhat the next Chinatown as many Chinese businessmen and women reside here.
Also Jebel Ali, a city near Dubai which was once isolated from the main bulk of Dubai back in the 70’s and is now a separate major residential and industrial hub encompassing the edges of the southern portions. The main attraction popular with locals and tourists alike is the easily recognizable Ibn Battuta Mall, styled on the countries visited by the famous explorer. The mall is built adjacent to the Ibn Battuta Gate Hotel that’s large archway can be seen from afar. Surrounding the mall is the Gardens apartments, an ethnically diverse district with a strong Indian community. Jebel Ali village, a 35 year old community built on the side of Jebel Ali (Ali Mountain) for the European builders of Jebel Ali Port is still popular with western expats. The coastal side of the Sheihk Zayed Road in Jebel Ali consists of many unattractive power and desalination plants that somewhat ruin the view. The port was the 9th busiest in the world in 2011.
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Dubai Property
Dubai Property, many of the property owners are residents or genuine investors. When it comes to choosing between a luxury property located in any other Country and one located in Dubai, many Foreigners HNIs seem to prefer the latter. We look at what makes Dubai properties so attractive to Foreign investors.
Dubai Real Estate and Property
The government’s decision to diversify from a trade-based, oil-reliant economy to one that is service- and tourism-oriented made property more valuable, resulting in the property appreciation from 2004 to 2006. A longer-term assessment of Dubai’s property market. The large-scale real estate development projects have led to the construction of some of the tallest skyscrapers and largest projects in the world such as the Emirates Towers, the Burj Khalifa, the Palm Islands and the most expensive hotel, the Burj Al Arab.
Dubai Property: A magnet for Foreigners
- Property prices more rational than any other cities.
- Rental yields in Dubai is 5-8% per cent, are tax free.
- Home Loans Interest in Dubai 2-4%
- Real estate is sold in carpet areas, pay for what you get
- Attractive capital appreciation is 5-8%.
- Hassle-free buying and selling, with no tax liability.
- A global city with better quality of life.
- Dubai is a home to 200 nationalities
- Easy accessible from anywhere in the world. 2/3rd countries can reach Dubai within 5 hours and rest of the countries reach within 8 hours
- Dubai is the Tourism Hub, most busiest international airport
- Highest quality of Life. 2nd Best place to live after Netherlands
- Safety and security
- 70% of Fortune 500 companies have branches in Dubai
- 62% globally recognised brands are present in Dubai, next to Shanghai and London with 52%
- Economic Stability
- Best in class Public Transportation
- Tax Heaven
- Highly Liquid Property Market – Highest Rental yields, strong capital appreciation, zero income tax
- Ease of business setup 100% ownership, exempted from all import duties, 100% repatriation of capital and profits
- Stable currency as UAE dirham is pegged to globally recognised US dollar, which means value of currency has enjoyed balance and growth as well as stability to import and export trade.
Why Foreign investors are lured by Dubai’s Real Estate Market
Attractive capital values are just one of the temptations, for HNIs. Dubai also offers rental returns in the range of seven to 12 per cent, which is higher than most global cities. For example, Jumeirah Village Triangle (JVT) has the highest rental yield for apartments in Dubai at 9.2 per cent, despite witnessing one of the steepest decline in prices, by about 12 per cent, says Propertyfinder. In comparison, the rental yields in London are 3.5 per cent, while in Hong Kong it is 2.82 per cent and 2.83 per cent in Singapore. Dubai’s tax-free status makes rental income more profitable. Even purchasing a commercial or residential property, does not entail taxes.
In addition, for a property that has already been purchased, owners do not have the liability to pay additional taxes in the future, for having freehold property.
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Semi-furnished Apartment
Semi-furnished Apartment, Most builders often develop bare-shell apartments and hand it over to their occupants. The buyers, based on their needs and budget, either choose to start living in these or rent it out to prospective tenants. Consequently, newly-developed residential destinations generally have a healthy mix of ready-to-move-in residential apartments, for those seeking rental accommodation. Based on the amenities available, these apartments are generally categorised as ‘fully furnished’, ‘furnished’ or ‘semi-furnished’. As a result, purchasers and tenants must be aware of the differences between the three types of flats.
Semi-furnished Apartment
This category of housing is very similar to bare-shell apartments, with minimum basic amenities such as lights and fans. These apartments may or may not have a shelf or cupboard in all its rooms.
These flats might comprise a wide range of properties that can be fully furnished. As these apartments are not fully equipped, you may discover fewer conveniences than in fully furnished apartments.
Pros
- The apartments can easily be furnished with furniture that can be purchased and installed.
- You can also install the appliances of your choice.
- In comparison to furnished apartments, the rent and security deposit will be lower.
- You can personalise such apartments by putting things in them that you like.
- You won’t hear anything from your landlord if you damage anything because the items are solely yours.
- In such residences, you can add or remove stuff as needed.
Cons
- When you leave the flat, you must take all of the items that you placed during the decorating process with you.
- To design your flat, you will need to purchase several household objects, which will be an additional cost to you.
- Designing and furnishing the flat might be a tiring and time-consuming task.
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Legendary Singer Lata Mangeshkar India’s Nightingale
Legendary Singer Lata Mangeshkar India’s Nightingale, Dies At 92
RERA Licensed Real Estate Agent in Hyderabad
The veteran singer was admitted to a city hospital in early January 2022, after she tested positive for COVID-19 and was also diagnosed with Pneumonia. Around January 28, she was taken off the ventilator, after she showed slight signs of improvement. However, on February 5, Lata Mangeshkar’s condition deteriorated and she was back on ventilator support. She passed away at 8.12 a.m. after suffering a multiple-organ failure on Saturday night.
Lata Mangeshkar, born in 1929, was the eldest of five siblings, among them singer Asha Bhonsle who visited Mangeshkar in hospital after she was taken to ICU. Their father was classical musician Pandit Deenanath Mangeshkar, who gave the young Lata Mangeshkar her first music lesson. In 1942, when her father died, 13-year-old Lata Mangeshkar began her career in music, juggling singing with acting parts in Marathi films. In 1945, Ms Mangeshkar had an early hit in the song Aayega Aanewala from the film Mahal, starring Madhubala. From there, Lata Mangeshkar’s voice and career soared to the greatest of heights. She sang raga-based compositions by Naushad in films like Baiju Bawra, Mother India and Mughal-E-Azam, Shankar-Jaikishan’s melodic hits in Barsaat and Shree 420; Salil Chowdhury’s lilting tracks in Madhumati won her a Filmfare Award for Best Female Playback Singer; three more Filmfare Awards came by way of Bees Saal Baad, Khandan and Jeene Ki Raah. Lata Mangeshkar won three National Awards for Best Female Playback Singer for the films Parichay, Kora Kagaz and Lekin. Other memorable films in her credits include Pakeezah, Abhimaan, Amar Prem, Aandhi, SIlsila, Chandni, Sagar, Rudali and Dilwale Dulhania Le Jayenge.
Among Lata Mangeshkar’s most iconic songs is the patriotic composition Aye Mere Watan Ke Logo; the song, commemorating Indian soldiers who died in the 1962 war with China, was performed on Republic Day in 1963 at the National Stadium in New Delhi. Lata Mangeshkar sang it live in the presence of President S Radhakrishnan and Prime Minister Jawaharlal Nehru.
Lata Mangeshkar composed music for a handful of Marathi films, winning the Maharashtra State Government’s award for Best Music Director in 1965 for the film Sadhi Manase. She also produced some films, among them 1990’s Lekin, for which she also sang.
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