Affordable Rental Housing For Migrant, Finance Minister Gives Push to Urban Poor

To relieve the real estate sector of some tension, Finance Minister Nirmala Sitharaman said that the government was extending a one-year extension to the CLSS or Credit Linked Subsidy Scheme which started in 2017 and ended on March 31, 2020. Until March 2021. This will help boost the demand for affordable housing.

The extension of the credit link subsidy scheme for a year will encourage many potential house buyers to buy houses, thereby increasing demand for affordable housing. There is currently a lot of untold inventory in the industry.

The mega-move will also help in maintaining employment as real estate is one of the largest labor intensive industries supporting around 200 allied industries. The proposed affordable rental accommodation under PPP is a welcome step. This will effectively help the issues of majority migrant laborers. Most of these urban poor live in miserable condition

Industry experts believe that the government's move to affordable housing in the last six years has been a great step forward. Its 'Housing for All by 2022' project has resulted in many soaps and incentives. In the last few years there has been a significant increase in buyer activities in the affordable segment.

Allowing new units and players to enter the affordable housing segment to build these rented dwellings, allowing manufacturing units and industries to take concessions and follow the same BOT model as road projects will do.

Karnataka minister announced no landlord should take rent during lockdown

R. Ashok, a revenue minister from Karnataka, said that landlords could not charge rent from tenants during the lockout. He said that action will be taken against the landlords if they force the tenants to vacate the property due to non-payment of rent.

"In this epidemic situation, action should be taken against the house owners in which owner can be imprisoned for up to one year or more under the National Disaster Management Authority," as he said.

However, if the order was not only for tenants belonging to economically weaker sections or people of the society, it did not make it clear.

Although the relationship between a tenant and an owner falls under the Karnataka Rent Control Act, 2001, the government may issue an amendment or an ordinance under the Act to chart instructions regarding collection of rent and eviction.

According to tax experts, Fiat can be challenged in court. Ashish K Singh, partner at law firm Capstone Legal, said, "In my opinion, the exercise of powers under the National Disaster Management Act for rent-related disputes would be challenged before the High Court or the Supreme Court." "It is clear that the NDMA's mandate does not cover the relationship between landlord and tenant."

The state government has taken cues from Singapore passing the COVID-19 Act 2020, which allows a tenant unable to pay rent and other dues under commercial leases from rental payment obligations for six months Seeks temporary relief.

According to property brokers, many prospective house buyers have postponed their plans to buy the property, which has boosted demand for rented houses in Bangalore.

Potential house buyers are expected to moderate prices and home loan rates.

Maharashtra Housing Department advises landlords to postpone rent collection for 3 months

In a month of April 2020 the Housing Department of Maharashtra issued a circular asking landlords and house owners to postpone the collection of rent in view of the lockdown situation for tenants for at least three months. It has also been said that landlords should not evict tenants for not paying rent during this period.

The circular signed by Housing Secretary Sanjay Kumar went viral on social media. Many zamindars are within a fixed range whether the government had the legal power to enforce it.

The lockdown has an adverse effect on people's income and employment. “Many people face difficult financial situations. A large number of people are not able to pay their regular rent. Therefore, recovery of rent should be postponed for at least three months and no tenant should be excluded for non-payment of rent, said in the circular.

The proposal is to be implemented with immediate effect. Issuers have gone well with landlords whose only source of income is rent. However, in the words of Housing Minister Jitendra Awadh, “Many people are experiencing economic difficulties as a result of the epidemic. The government has taken this step keeping in mind that it will be difficult for tenants to pay the rent in future.

Rents in Mumbai are skyrocketing and the move is a sigh of relief for the majority of tenants. Rajesh Prajapati, a member of the managing committee of the Housing Chamber of the Government of Maharashtra, said, "At the moment, the government feels that landlords are in a better position for economic devastation based on rental income." 

Benefits if you sell or list properties for rent online

Today, in this running world, where time is a hurdle and everything is available, just one click away, selling property is becoming quite popular online. Gone are the days when online mediums were only considered for shopping for clothes or accessories. However, the online medium is becoming very well known and engages consumers in buying, renting and selling properties in India and other parts of the world.

Online property portals are attracting everyone's attention, giving you the highest benefit of selling and buying without any hassle. They offer many options for people to buy and rent property. It is therefore advisable to list properties to sell or rent online. No matter where you live or a place to look for a property, property portals help you browse through the results from across the country and make you aware of your decision.

Here are some benefits that suggest you post your property now for free:

 

Sell ​​and acquire

Fast results and immediate cash are expected when selling property online. Listing the property online can result within a week of registration. The reason for this is that online listings on the Internet cater to a wider audience.

No fear of losing money

If you wish to cancel the property and have not taken the PIN or voucher generated online to the builder for further action, you can claim a full refund. Portals also provide the facility to post your property for free. Thus you can sell your property without spending anything.

Online booking

One can post a property addition online and make a booking from house. With various online payment modes and gateways, today you can sell your property online and receive payments very quickly. And if you are worried about your credentials and details online, do not be. Just make sure, online portals are reliable followed by a secure payment gateway. Those who are considered safe to give your information.

Out of options

An online property portal gives you lots of options to view. Yes, most developers and even their agents and brokers list properties to sell or rent online to ease your worries. You can choose the best option for you.

Specific research forbuyers

All information is available on such portals, from cities to locations, especially for the project with its specification and configuration and pricing details. You can also compare two plans or two localities as per the requirement and then arrive at your purchase decision.

Discounts and offers

In the current scenario, some portals are offering many great deals and offers to buyers, as well as convenience to sellers. From the registry, discounts on the original price of the property, and stamp duty-free, car, and parking free, various offers are available online when booking your property.

Some useful tips forselling property online:

• Make sure you are ready to sell, once you have a contract with an agent or lawyer or a list of properties to sell or rent online, you will usually end up with a fixed-term contract are committed. Otherwise, it may prompt you to pay the defaulter fee. 
• Clarify your demands and the characteristics of the property that any buyer is pre-qualified. There is no need to waste time to show property to someone who cannot afford it.
• Get a fair valuation, and then do not acquire the property.
• Make sure it is ready to show, or be seen. If it is empty land then get rid of weeds or litter. 
• If it is a flat, apartment or business location, make sure it is in good repair. 
• When a house or house is involved, make sure it is clean and tidy.
  

  SUGANTA REALTY SERVICES LLP

Corona virus Precautions: How to Protect Your House

Basic hygiene is all that is required to keep your house virus free. Corona virus is not air borne but coming into contact with an infected person can affect you and your family. Make sure you follow these simple tips to prevent the spread of COVID-19 in your houses.

What is Corona virus or COVID-19?

To date, 2418592 people have been affected by corona virus (COVID-19) globally. While these are confirmed cases, many are unconfirmed and fear is lurid. If you are looking to protect your family from this disease, then here are some simple remedies that you should follow.

COVID-19 novel ways to prevent corona virus:

Sanitise your house

Deep cleaning of your property every week will limit the amount of germs in the entire house. This is not a costly affair. The house is easy to disinfecting yourself. For example, lemons, baking soda and vinegar can kill germs in the kitchen. It is also safe to use kitchen based products for kitchen cleaning. Use the mixture to clean all counters.

Baking soda can also be sprinkled on the upholstery. You just need to wait for at least half an hour for this. This may be better than chemical spraying. You can use the Do-It-Yourself (DIY) method to deal with pollution and germs in your home. Make a mixture of equal parts water and vodka with a few drops of essential oil. It will serve as a disinfectant as well as deodorizer.

Likewise, essential oils can be used to clean shower curtains, toilet rims, and damp locations. You can scrub these later. Avoid keeping the areas wet, as this is a good environment for germs to thrive. In the bedroom, make sure all linen is thoroughly rinsed in warm water and liquid disinfectant. It is advised that you change bed sheets regularly every week.

Kids room

Children can bring in dirt and germs. When you can't restrict their movement and play all the time, make sure that their room is clean at all times. If your child is using toys, make sure that you appreciate these toys. You can check the washing instructions, to ensure that the soft toys remain in shape even after washing them at home. Other toys can be washed frequently.

Surface cleaning

Ensure that all surfaces - shelves, tables, chairs, racks, switches, decorative artifacts and showpieces - are cleaned at least once a week. If there are sick people at home, then clean up all the places they may have touched. Corona virus is spread by contact with an infected person and while it is not air borne, it is transmitted through body fluids.

Corona virus infection: things that need attention

• Keep shoes and sandals that you wear outside the house, preferably outside the house, especially if there are small children in the house who can pick them up with their hands. Do not hesitate to ask visitors to take off their shoes when they arrive.
• Make sure your clothes are washed every day. If germs appear on your clothes, it is advisable not to wear them again until they are washed.
• Use separate towels at home.
• Educate your domestic help, driver and other employees about corona virus disease and provide masks and sanitizers to help them. In this way you are ensuring their safety, as well as yours.
• Avoid exposure to animals and slaughterhouses as corona virus can spread from animals to people.

Corona virus Precaution: Quick Tips

• Take a shower as soon as you come back from office / college / school.
• Avoid touching or using cups, tissues, plates, digital devices used by anyone else.
• Keep a hand sanitizer in hand and provide one of your home help.
• Avoid using public washrooms.
• Check with your child's school about those remedies.
• Avoid large gatherings as much as possible.
• Drink plenty of hot liquids.
• Avoid traveling.
• Choose to stay home when you are sick.
• Use masks when going out of the house and into crowded places.

Why real estate should be good to investment in this lockdown

Fight continues in the world due to the outbreak of COVID-19. To further maintain the risk from snowballing, the Indian government has indicated to fully affect the lockdown. As a result, nowadays, most of us are working from home. Outside life has come to a grinding halt. No matter how uncomfortable it sounds, it is probably the only way to prevent perennial corona viruses from spreading further.

Although our daily routines have been affected, this does not mean that people should lock themselves inside their homes, stop all their plans and only watch worrying news on TV about this threat. These are some of the best times when one can spend time with family, do various hobbies and introspection. The current situation is an ideal time to think about investing in sources of passive income. Eventually, some of the best opportunities emerge from a crisis.

Zoning on various options can be seen in various options like term plans, stock market and real estate. While every investment option has its pros and cons, as of now, when the stock market is recessionary and the banking sector is in a tailspin, real estate can be a great asset to place bets on. If anyone wants to do it risk-free yet, makes a commendable return, with many residential and commercial real estate options available.

Full of attractive offers: Recognizing this opportunity, developers are coming up with many attractive offers. Property prices have already corrected in the last few quarters. After COVID, many developers are offering further discounts and attractive offers to maintain their financial books. There are projects where one now needs to pay 5% to book a property. The remaining payments will start after 60 days. By that time, it is expected that the crisis will mostly end.

However, such plans are a fleeting event that developers are launching to boost sentiment. Prices have already come down and once the situation returns to normal, such attractive schemes will also be lost. Therefore, this may be the best time to buy real estate. It should not be surprising if one gets ready-to-use assets for a price equal to a new launch.

Higher yields: Real estate can offer risk-thrilling competitive returns. Although residential real estate has been stable in recent years, commercial real estate has been issuing attractive returns. A commercial property in a prime location can easily give an average annual appreciation of around 7-10%. At a time when share prices and financial markets are volatile, such a comeback can be a game-changer.

Concurrent Rental Income: Real estate can provide continuous income in the form of monthly rent. The rental component always makes real estate a very unique proposition for investing. A quality commercial property can provide returns of around 5-8%. Similarly, residential projects can give returns of around 2-3%. Therefore, this is the right time to capitalize on those possibilities.

Increased liquidity: This is a good time to invest in real estate because home loan is going to be cheaper. RBI has recently cut the repo rate by 75 basis points. The rate drop is a welcome move for the industry. In a short period of time, as a calibrated response to the reduction in repo rates, most banks will also reduce their home loan rates.

Feasible Hard Asset: The biggest advantage of real estate is that it is a tangible asset. At a time when there is too much risk investing in paper money, real estate is a safer and safer asset for betting.

Real estate is a separate asset class that can ensure appreciable ROI, hedge against income and provide recurring income in the form of rental yields. However, it has its drawbacks, as a real estate asset will take at least 2-3 months. Nevertheless, investment in real estate is always made keeping in mind the medium to long term perspective. A short-term perspective can be counter intuitive.

So in these times of social distinction, do not just shut yourself down. Use isolation downtime, do some in-depth research, learn about the various sources of passive income and make the most of this time to make meaningful investments.

STAY HOME, STAY SAFE, STAY ALIVE

SUGANTA REALTY SERVICES LLP

Corona virus outbreak 2020 - affects real estate growth in India?

Today, at the endemic of this severe corona virus, experts are busy calculating abnormal human loss worldwide. People are suffering or out of home due to the outbreak of this virus. In the meantime, the effect of the unexpected opposition to this deadly virus spreading on the global economy has been agreed.

Considering COVID - 19, the estimated loss to GDP in the world so far has been assumed to be 0.2 percent. For the grace of God, the effect is by no means limited in India. But in this scenario, it is clear that the Indian economy, which has already seen a 4.5% lower growth in the July - September quarter, will probably not remain uninhabitable due to the worldwide economic slowdown. And, the realty industry of the Indian residential market is telling a different story altogether.

COVID - 19 affects the property market in India

If the data collected from SuGanta.com is analyzed together, it is clearly visible the fall of 9 important residential markets of India by 30 percent during the time span of October to December last year. It is deteriorating for the fifth consecutive time of Q3 financial year 2019.

The trend is also the same for the launch of new projects. Since the third quarter of the last financial year, the task of starting new projects has been facing a continuous decline in the mega markets. This caused an annual decline of 44% in the October to December time period.

Despite all the government-issued schemes, including the lowest interest rate on home loans and the maximum tax exemption on purchasing any residential property in India for the first time in the history of real estate, all efforts failed to revive property demands among homebuyers are in India. He still chose to remain unaffected by all the tricks played by the stakeholders to force him to go out of his fence. For example, the government took an action to limit GST to 1% for affordable flats, which also went into the vein.

Usually, the craze of buying and selling property in India increases during the festivals of October to December, which did not happen even in 2019. And now in early 2020, there has been an outbreak of the corona virus. And, it has also probably brought the worst times in the residential property market in India. 1705732 Corona positive cases reported globally as of April 10, 2020. And, it is only growing and causing more fear around the world.

The rate of property visits has fallen surprisingly

Well, impressed by the government's plans, given how interested some consumers were in searching for property on the Internet, the Corona virus outbreak just seized them again from doing any such thing. To date, on April 10, 2020, India has reported 7600 corona positive cases. The activation of social media and news channels has succeeded in making people truly aware of COVID - 19 and everyone tries 'Stay Home Stay Safe'. People are really creating social distance by listening to the words of PM Modi. Currently, India is on a 21-day long social lockout to stop the spread of pollution. So, in such a scenario, nobody is dreaming for a site coming to buy a property in India.

Plans for project delays !!

Indian real estate is largely dependent on China, which is the source for COVID - 19 outbreaks. India needs support in matters of sourcing home furnishing essentials, construction materials, plastic to steel to electronic materials and construction equipment from China. Now, India needs to look for alternative sources as China is busy controlling the epidemic of viruses. It will shoot project delays to make sure.

Who are the top 10 builders in Bangalore? Learn more. Top 10 Builders in Bangalore

Planning to invest in your dream house in Bangalore but not sure which builder to choose?

Here is the list of top builders in Bangalore that will help in your property search. These developers are innovators in their field and have core experience in the real estate market, serving for over a decade. His experience has already earned him huge encouragement and customer support to help him reach heights of success over the years.

Each of his projects will feature unique designs inspired by the history, history and contemporary style that attracts their residences to experience the outstanding architects here. Below is the list of top 10 builders in Bangalore.

Sobha Limited: Sobha Developers is one of the leading real estate companies in India. Primarily, the company focuses on residential projects. SOBHA's footprint is spread across ten cities, such as Bengaluru, Chennai, Coimbatore, Gurugram, Gujarat (Gift City), Kozhikode, Kochi, Mysore, Pune and Thrissur. SOBHA's portfolio includes presidential apartments, luxury, and super luxury apartments, plotted developments, aspirational homes, villas and row houses.

Godrej Properties: Godrej Properties is the real estate wing of the Godrej Group. The Godrej Group offers an assortment of services including real estate development, fast moving consumer goods, advanced engineering and so on. It has garnered over 200 awards and recognitions over the years. Godrej Properties won the title of 'Real Estate Company of the Year' at the Construction Week India Awards held in 2015.

Godrej Properties is active in 12 cities in India. This real estate developer strives to create lasting value for its investors. Over the years Godrej Properties has built homes that are comfortable and luxurious.

Prestige Group: Prestige Group has carved out a niche in the real estate domain by influencing its mark in several asset classes. The Prestige Group completed about 210 completed projects, 53 ongoing projects, and they also have several upcoming projects. Prestige Group is now expanding to other South Indian cities like Mysore, Mangalore, Chennai, Hyderabad, Kochi and Goa.

Brigade Group: Brigade Group is one of the leading property developers in South India. They have a uniquely diverse multi-domain portfolio covering property management services, hospitality, property development and education. His projects span several major cities of South India such as Chennai, Hyderabad, Mangalore, Kochi, Chikmagalur and Mysore.

The Brigade Group has a wide range of residential portfolios including luxury and super-luxury apartments, penthouses, villas, independent living spaces for seniors and so on.

Salarpuria Sattva Group: The Salarpuria Sattva Group mainly focuses on developing high quality construction. The group has a portfolio of various world-class IT parks, residential, commercial, retail and hospitality properties.

Artha Group: As of today, Artha Group is the fastest growing real estate company in South India. Earth Group offers exceptional and novel concepts to its investors and homes that are precisely tailored. The group has won various awards and has also been awarded Power Brand status by the esteemed Brand Finance Institute, UK.

Puravankara: Puravankara believes that there is only one mantra for success and that is quality. They mainly focus on rigorous values, strong engineering, customer satisfaction and transparency in business functions. Purvanchal is known as the "most preferred" brand in both the residential and commercial sectors. Currently, the company has 29 million sq ft of projects under development, with an additional 88 million sq ft in projected growth over the next 7-10 years.

L&T Realty: Larsen & Toubro is present in North, South and West India with several residential, commercial and retail projects. The company is creating places of excellence through the development of several buildings, business parks and transit-oriented developments such as Navi Mumbai- Seawoods Grand Central. Being an environmentally friendly real estate developer, L&T always focuses on developing environmentally sustainable locations and campuses.