Will The Real Estate Market Grow In 2016?

The year 2014 was a lethargic one in the real estate market sector. The high interest rates and political uncertainty were the two main reasons behind the inactivity of buyers towards property purchase. Home buyers postponed their purchases for the entire year, which is why the number of unsold properties increased over the year, which in turn increased pressure on the developers. This is the reason why developers started putting up alluring offers like gold coins and easy payment plans to attract customers. Mumbai and Delhi saw the highest number of piling inventory.

Real-Estate-Market-2016
Real Estate Market Growth 2016

This year i.e. in 2015, with the rising GDP growth, economic activity is picking up speed. The GDP is expected to rise by 6.5 % in the next financial year. An increase in the number of jobs in the corporate sector has also been observed this year. Thus, with improving business standards, the demand for commercial and office space is definitely going to see a rise. Slowly and gradually, even the demand for residential property will start increasing. This can be said because this year, there has been a positive change in customers’ attitudes towards property purchase and there have also been interest rate cuts. The reduction in interest rates for home loans has been a huge factor for this changing attitude. If the property prices stay stable and the interest rates stay low, it will definitely attract the middle class buyers.

Another major reason that will change the way properties are bought and sold is the implementation of the ‘Real Estate Regulation Bill’, which has been made to govern contracts between real estate buyers and sellers. Until now, buyers were compelled to abide by the one-sided contract terms, sky-high prices, uncertain plan changes and delay in deliverance. But with the implementation of this Bill, the records of projects, promoters, agents and violators will be maintained by the ‘Real Estate Regulatory Authorities’. Before a developer launches a project, he will have to register his plan with every tiny detail with the authority for approval. If these terms are violated, the developer will be highly penalized. The developer will also be required to keep 50% of amount received by customers in an escrow account, which will be used only in the development of the project. Thus, there will be complete transparency and security towards the customers, which will uplift the real estate market activity.

There has been an increasing demand for affordable housing and townships this year, and the demand is expected to rise even next year. The government is also working towards establishing 100 smart cities across India. This idea compelled the ‘Land Acquisition, Rehabilitation and Resettlement Act’ to ease off some of its provisions like those related to rise in compensation to original inhabitants and rehabilitation clauses.

With all these factors and the number of developments taking place in the real estate sector, it seems like the property market in India is expected to significantly improve by the end of March 2016.

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All You Want To Know About A Will

We all are mortal, and this is the harsh fact of life. You achieve so much in life through hard work and struggle. You save every penny of your income and buy a new house for yourself. You buy so many valuables – properties, cars, valuable jewels and more. But, what are you going to take with you when you are gone? Nothing! So, what is going to happen to all your assets after you are gone?

Know-About-A-Will
Know-About-A-Will

You may say that all your wealth and assets will be transferred to your spouse or children. But, how can you be so sure that your property will be equally divided amongst your own people? It will be the state you live in that will decide on who the recipients will be and how the property will be divided amongst them. But, it may be that you wished for something else. So, in order to transfer your properties among the people you want, in the manner you want, you need to prepare a ‘Will’.

What is a Will?

A Will is a legal document that you can write once you are above 21 years of age, representing how you want your assets to be distributed after you are gone. This is a way you can plan who your successors will be and what percentage of property will be transferred to each of them, which will save any kind of disputes at the time of property distribution. This is one of the most important documents you will ever write. Make sure that your Will complies with the State laws so that it is considered valid. It is better if you appoint a lawyer to help you out with this. Your Will may include every property you own – cash, properties, furniture, jewellery, vehicles, bank accounts, shares, etc.

How to write a Will?

In India, it isn’t necessary that you write your Will on a stamp paper; a plain white paper will do. But, it is advisable to write your Will in your own handwriting so that it can be verified after your death in case of any doubts raised by relatives.

In order to write a Will, you will need a Testator if you want someone else to write for you, an Executor who will ensure that all your property is responsibly distributed and two witnesses to justify your document.

First of all, you will need to declare at the very beginning that you are in your full senses while making this Will and are not doing so under any pressure. Mention all details about you to confirm the same.

You need to be very specific while writing which property will be given to which individual. Clearly state the complete names of the receivers and also of your residential and commercial properties, if they are multiple in numbers. If you are giving your assets to a minor, make sure to appoint a trustworthy custodian of your assets until he/she reaches an adult age. In case of any debts or taxes, you will be stating the name of an executor who will be responsible for paying them after you.

At the end of the Will, sign carefully in the presence of two witnesses. Also, mention clearly the date and place of writing the Will. The witnesses will also be signing the Will along with you. Seal the Will properly and bear your signature and date of sealing on the envelope.

Can a Will be changed?

A Will is a fluid document that can be changed as and when you require. There may be chances you want to add or remove the name of a recipient or update your Will after major life changes like marriage or divorce, buying more property or additions to your family. But, make sure that whenever you make any changes, you mention the date and confirm that this is your latest Will and all previous Wills should be nullified.

If you want to add a residential property to your assets and if Bangalore is the place for you, there would be no better place than Adisesh Green City to gift to your loved ones. Located near Hoskote in the midst of Narasapura industrial layout, this lake view residential plot in the non-pollution zone, surrounded by top MNCs is a great place for you to live in now, and will also prove fruitful to those who will receive it after you.

Benefits Of Investing In The Outskirts Of Bangalore

Investing-Outskirts-Bangalore

Investing in real estate is considered to be one of the best and safest step towards better returns. However, the challenge is deciding on the location to invest in, which will guarantee maximum returns. When it comes to investing in a property, it is normal to be in dilemma.

You start having sleepless nights and you start worrying about a variety of questions like – Is it better to invest in the midst of the city? Or is it better to invest in the outskirts? Will investing in the outskirts be too far away? Will you be able to get maximum returns after investing in a particular property? All you do all day long is weigh your options, pros and cons, and potential dangers.

How is investing in the outskirts a better deal?

If you want an advice, a property in the outskirts should be the best choice. Listed below are a few advantages that will have you believing the same.

  • Low budget – The property prices in the outskirts of a city are definitely going to be lower than those in the prime locations within the city. So, you can get more space in lesser budget in the outskirts.
  • Future growth – The outskirts might not be well developed at present. But, they definitely will be in the coming years. The outskirts build up in infrastructure and commercial as well as residential development soon. Moreover, these days Metros are an easy way of connecting to the main city and other areas around.
  • Peaceful life – The outskirts are much quieter than the hustling-bustling city. You can lead a much peaceful life in the outskirts away from the maddening crowd of the city, at least for the next few years to come.
  • Higher investment returns – As stated earlier, the outskirts develop in infrastructure and other developments soon. Once developed, there will be great demand for properties in the area, which will result in higher prices. So, once you have bought at a cheaper rate and you sell off at a higher rate, you are surely going to reap great profits. 

What factors contribute to higher ROI?

The two main factors that are responsible for a higher ROI when investing in the outskirts are –

Development – When you purchase a property in the outskirts of a city, it would be having minimum facilities, limited connectivity and accessibility points. But, it will soon start developing with malls, shopping centres, commercial buildings, schools, colleges and hospitals. Not only this, even metros and other transport facilities that bring easy access will come up. All this will raise the value of your property in a few years’ time.

Demand – The location of your property, that is now in the outskirts, will soon become a prime location of the city with great infrastructure and commercial developments coming up. This will have more and more people wanting to come and settle down in the area, which will increase the demand of properties. Once the demand increases, you can ask for a hefty amount to sell off your property, thus, bringing in great profits.

One of the best locations to invest is Plots in Hoskote near Bangalore, a planned township with established industries and companies, and excellent connectivity. The properties in Hoskote are expected to have great appreciation in the coming years. Greatly connected to Navi Mumbai and Chennai, it attracts IT crowds because it is connected to the ITI factory at KR Puram. It is also in close vicinity to other IT hubs like Whitefield and ITPL. The properties in Hoskote have been appreciated up to 80% in the last one year. For investing in Villas in Hoskote, you must approach Adisesh Projects, a reputed name in the industry since the past 20 years. They even offer great villas in Narasapura, which is another great location to invest in.

How to Purchase a Home within Your Budget

For most people, buying a house is the most expensive purchase of their life. With the high raising property prices and high interest rates, it is becoming difficult for the middle class population to buy a house. You know you have found the right house when you have all your homely requirements within your budget. It seems difficult but, it’s not impossible. But, in order to make it possible, you will definitely have to narrow down your search and make some sacrifices at some point. Consider the following points that could help you.

Villas-in-Narasapura-Hoskote
Adisesh Projects Green City

Prefer an old construction house

New construction houses cost up to 20% more than an equivalent older construction house. Buying an old construction house with lesser features than what the market is providing now can add up to big savings. But, you also need to take care that you do not buy such an old constructed house that you need lots of further expenses to maintain it in the future.

Renovation

Rather than buying a house that has all the luxurious amenities built-in, you can buy a simpler house and do things to add up to its value. This way you can save the high amounts charged for those facilities and add things at lesser price that are as per your preferences. If you do not have as much cash in hand for now, you can even keep fixing up things as and when required and are appropriate to be done, rather than getting everything done at one go.

Opt for a different location

You know what and how much you can afford. You have a budget in hand. But, you also want to live in the best parts of the town. It is not necessary that you get a house at your price in the location you prefer. So, you need to be open to few other options for location when it comes to your budget. You can adapt to a location that you do not prefer as much but, you can’t live in a house that you can’t afford.

Know your priorities

You should make a list of what you really must have and what are the things you can do without. For example, if you are a couple looking to grow a family in the future, a two bedroom house is a must for you since your kids to-be at some point in life will need a separate room; unless you prefer shifting to another house in the next few years. But, if you think that you must have a three bedroom house, keeping in mind that you may have guests coming in for a few days and you can make them stay in the guest room. Then, this is not as necessary, unless it fits your budget comfortably. Otherwise this would just add to the price unnecessarily for a temporary comfort for few days of the year, and this is not worthwhile. Similarly, having a kitchen is a must-have. But, having a modular kitchen that does not fit in your budget, just because every other person has it, is not necessary.

Keep in mind a list of things you can have an alternative for. Prefer going in for cheaper options, but also take care that they will not cause any financial harm or further expenses to you later on. Plan out your budget and keep your priorities in mind. This will help you stay out of extra unnecessary expenses. If you are looking for a property in Bangalore, Adisesh Green City provides you with beautiful affordable flats, villas and plots.

SUMMARY

Balancing your choice of buying a new house with your budget is one of the biggest annoyances that you can have. You need to make some sacrifices in terms of construction, location and priorities in order to suffice both the requirements.