Friday, April 3, 2020

COVID-19 Impact: Extends the full timeframe of MahaRERA projects by 3 months


Mumbai: Maharashtra Real Estate Regulatory Authority (MahaRERA) has extended the validity of registration of projects for which completion date, revised completion date and extended completion date is expiring on or after March 15, 2020.

With this, realty developers will get a three-month extension to complete their projects. Developers are asking for time to complete the project and the exemption from penalty fees can be extended for up to one year.

The authority has extended the date after considering the government declared Covid-19 pandemic, lockdown, its impact on material procurement and construction stagnation.

It has also extended the deadline for all statutory compliance as per the Real Estate (Regulation and Development) Act, 2016 which were in force from March, April and May to June 30, 2020.

Since mid-March, the Maharashtra government has announced a controlled lockdown as a precaution in a way that a partial workforce has been able to participate in work and construction sites in the state.

From 24 March, a complete lockdown was declared for 21 days across the country, allowing only the operation of essential services. In view of these partial lockdowns and recently completed lockdowns, construction work has been affected in MahaRERA registered projects.

“Due to the aforesaid lockdown, the supply chain to obtain construction material was disrupted and the labor force moved back to their home states. Due to these circumstances, real estate projects across Maharashtra will take some time to resume work,” the authority said in a statement.

SuGanta Realty Services llp


Thursday, April 2, 2020

India 2020 Statutory Liquidity Ratio (SLR)


What is the Statutory Liquidity Ratio (SLR)?

The SLR stipulates that the ratio of appropriate securities should be maintained in relation to their demand and time liabilities (DTL) as directed by the central bank

Current SLR rate


The current Statutory Liquidity Ratio (SLR) is 19.00%. It was last revised on April 13, 2019, when it was reduced by 0.25% from its previous level of 19.25%. To date, i.e. on February 11, 2020, the policy rates will also include the reverse repo rate of 5.15%. Repo rate is 5.40%, Bank rate 5.65% and Marginal Standing Facility (MSF) rate has come down to 5.65%. According to data on key monetary policy rates and reserve requirements set by the Reserve Bank of India, the Reserve Ratio, which also includes the Cash Reserve Ratio (CRR), reached 4.00% and the Statutory Liquidity Ratio (SLR) at 19.00%.

The main objectives of SLR are:-

  •     SLR (Statutory Liquidity Ratio) is one such medium that acts to the RBI to ensure the security of a commercial bank.
  •    SLR helps in regulating the development of bank credit. By modifying SLR rates, the RBI can reduce or increase bank loan growth.
  •     Through SLR, the Central Bank implements commercial banks to fund government securities.
  •    SLR (like CRR) is a means of monetary policy to regulate and control the money supply in an economy. Low SLR rates provide liquidity in the system, as banks want to bear many government bonds and vice versa.


Statutory Liquidity Ratio (SLR) in India

The statutory liquidity ratio is directed under section 24 of the Banking Regulation Act, 1949.

Current level  

The Reserve Bank has defined that each SCB will continue to manage special assets in India, the profit of which will be less than 19 per cent of the total NDTL (not more than 40 per cent of its total DTL) if it is close to business on any given day.

Property for Special SLR


  • Cash or
  • Gold valuation not to exceed current market value,
  • Investments in the following instruments related to "Statutory Liquidity Ratio (SLR) securities"
  • Securities announced as of May 06, 2011.
  • Treasury Bills of the Government of India.
  • Government of India dated securities issued under the Market Stabilization Scheme and Market Financing Program.
  • State Development Loans (SDLs) of the State Governments announced from time to time after the market lending program.


Procedure for calculation of SLR

The procedure for calculating the total NDTL for consideration of SLR under Section 24 (2A) of the Banking Regulation Act, 1949 is broadly very similar to the method of CRR apart from any exception on special liabilities directed to maintain CRR is not.

NDTL and SLR assets are treated according to the process of valuation defined by the Reserve Bank of India from time to time.


Maintenance of SLR on a daily basis

Unlike CRR, RBI does not approve or allow any adaptability in the maintenance of SLR, that is, if the SLR must be maintained at 100% or higher on a daily basis.

A punishment

If a banking company disappoints to maintain the required amount of SLR, it will be responsible to pay RBI in respect of the failure, at the reduction of bank interest rate at the rate of 3% pa ​​for that day If the failure persists on the following successful working day, punitive interest may be increased at the rate of five percent per annum above the bank interest rate for the required failure on the reduction.

Return to Form VIII (SLR)


Banks must submit before the 20th day of every month to the Reserve Bank, a return in Form VIII determining the quantum of SLR with the specifications of their DTL in India continued on alternate Fridays through the following month To support the Negotiable Instruments Act, 1881 at the end of business on the following working day on such Friday or if any Friday LA will be a public holiday.

Banks should also submit a statement as an attachment to the eighth set providing daily status of adjusted assets for consideration of agreement with SLR and the additional cash balance should be managed with RBI in the format managed by them.

30,000 housing stock to be built in Maharashtra in two years: Maharashtra government


Maharashtra cabinet minister Jitendra Awhad had said in the assembly on Tuesday that the Maharashtra government would stock 30,000 housing units in the next two years. He also said that the affordable housing scheme in Maharashtra will start from May 1 and is expected to be completed in the next two years and 10% of the houses constructed by the Maharashtra Housing and Area Development Authority are reserved for each police personnel and class IV government employee will go (MHADA).


"Unused land in 25,000 acres of land acquired by SEZ developers will be taken back by the Maharashtra government and after payment to these firms, the land will be used to construct affordable homes" The minister announced. He also said that the government is seriously paying attention to bring a bill on this issue because if it is done then more than 5 lakh affordable houses can be constructed in the next five years and this will change the state of poverty in the state.

The work of submitting the proposal for final approval will be done through a single-window system in an interval of 90 days.


With sufficient space in a unit, one does not have to worry about size issues. This is even true for the convenience of big families living under one roof. If you are looking to buy or rent a place in a city it will be an ideal choice as it is cost effective and accessible to all places of business as well as your office. Login with SuGanta Realty Services llp which is India's newest real estate website.

Wednesday, March 11, 2020

Impact of Corona virus Outbreak on Indian Real Estate


Corona virus outbreaks in Wuhan, China and the recent discovery in Delhi NCR have severely affected business sentiment.

The World Health Organization(WHO) declaring it a global health emergency, business sentiment has been severely affected. The outbreak has created uncertainty about trade and imports not only in China but worldwide. The real estate industry was not spared either. Traders are wary of going to mainland China and production is expected to decline in the coming months. This will have a direct impact on the prices of steel and other articles used in the construction industry in India.

Let us discuss in detail the potential impact of corona virus on Indian real estate and allied industries.

Why will the Indian real estate sector be affected?

India imports heavily from China the articles used in construction activities. Some of these are –
  •     Iron and Steel Products
  •     Technical construction equipment
  •     Electrical equipment
  •     Plastic and fiber elements
  •     Solar panels


Although India is the second largest producer, it is severely lagged in terms of production capacity, which stands at 106 million tonnes. This heavy reliance on China for steel and steel products is a cause for concern for the industry. With production down in China, prices in allied industries are bound to rise, leading to increased costs and lowering the profit margins of real estate developers in India. The slowdown in the construction industry in China will result in downward pressure on global metal prices.

According to a recent CBRE report, in 2019 there were more than 300 Fortune 500 companies operating in Wuhan, China. Its outbreak will force companies to offer more flexible work practices such as 'work from home' and not co-working spaces. Businesses can delay real estate decisions and restrict new launches. However, the report suggests that mainland China will be more affected by the outbreak, and neighboring countries may only see an inter-dip in business activities.

An Opportunity?


From the Indian business point of view, the outbreak of corona virus may be an opportunity for Indian businesses to increase production capacity and speed up the "Make in India" campaign. The Government of India is encouraging steel companies to increase production capacity and gain larger market share. In the present scenario, the Ministry of Steel, Government of India is preparing a strategy paper for 10 million tonnes of special steel production at a cost of Rs 50,000 crore with 50,000 employment prospects.

In addition, solar panel manufacturing companies can also benefit from reduced supply and bring down long-term costs by increasing production.

In the same spirit, Pankaj Kumar Jain, Managing Director, KW Group, says, "The impact of the corona virus outbreak on the Indian real estate industry will be indirect. Although China is directly affected, supply-side constraints provide an opportunity to explore other avenues for raw material procurement.The industry is already facing global economic slowdown and sluggish demand. Although its outbreak is still not a threat in the Indian scenario, the government should take stringent steps to prevent the spread of infection, so that business sentiment is not further affected. "

In particular, with the recent report of Corona virus reaching Delhi NCR and Noida, the real estate industry needs to curse itself for even worse effects than before. However, the world has faced similar outbreaks like SARS virus, bird flu etc. in the past and has successfully recovered.

Every disaster is an opportunity to scale new heights. Indian real estate and allied manufacturing industries should explore positivity in the landscape and benefit by increasing production and indigenous innovation. The government will do well to prevent further spread of the virus and handle the industry in times of crisis.

Tuesday, February 25, 2020

Market analysis of Patna Real Estate

Real estate has traditionally been a great investment opportunity. These days, high net worth individuals, financial institutions as well as locals are looking for viable options to invest in Patna real estate.

The money invested in property for sale in Patna for its income and capital growth provides stable and predictable income returns. This is similar to bonds offering regular returns on investment if the property is rented as well as the possibility of capital appreciation.

However, like any other investment option, real estate investing also has some risks associated with it, and of course, these are quite different from other investments.

Investment options available in Patna Real Estate 


Current investment possibilities can be broadly classified as:
  • Residence
  • Commercial office space and
  • Retail sector


Real estate investment scenario is:-

  • This investment option demands a higher entry price.
  • It suffers from lack of fluidity and indefinite gestation period.
  • Being illiterate one cannot sell some units of their property.
  • The investor will have to check explicit property title specifically for investment in India.
  • Property should be invested by individuals who have deep pockets and a long term view of their investment.

From a long term financial return point of view, it is suitable to invest in highly valued commercial assets. Any financier looking to reconcile their portfolio can see the real estate sector as a safe means to venture with a certain degree of enterprise.


Benefits of investing in real estate at Patna


Steady investment

Increasing wealth by investing capital in real estate indicates a more stable and healthy investment as it is not subject to market problems. In addition, real estate is considered a great investment in a weak economy. Because more and more people will be unable to take a loan on a house.

Price increases over time

Where property exists, real estate will increase in value according to market value. So as the value of your real estate overtime makes your potential income.

Considering the benefits of leverage

Consider the benefits of availing, citing your ability to purchase a rental property using money borrowed from another financial institution. Leverage allows you to invest in additional rental properties as well as maintenance of existing properties.

Significant tax deduction

Yet another advantage of buying property for sale in Patna is that you can deduct tax which allows you to deduct the cost of maintenance and repairs, improvements, taxes, insurance, mortgage interest and more. The amount and type of tax deduction you will take will depend on local laws and where the rental property is located.

Payback like Your Own Business

A person can enter this business and start living small to small, in which real estate is a profitable hobby. As an alternative, an investor can start small and over time, with some good moves, develop their business into a high-paying full-time job.

Can start small

Very few cash up front houses can be purchased from real estate properties in Patna. Some owners' payments are subsidized by subtracting earned income.


How to get better deals in Patna real estate?

There are many property dealers from whom you can buy property as a better future investment. Do you want to get qualified real estate service without fault?


Consider the following properties:

  •     All embracing knowledge of selected domains.
  •     Highly trained team who work tirelessly to offer end-to-end solutions.
  •     Sail through the pool of huge databases User friendly structure of this portal.
  •     Easy and fast navigation.
  •     It offers a wide range of cost-effective solutions, specifically to meet the needs of diversion.

Monday, February 10, 2020

Adverse Possession in Real Estate Market of India


Adverse possession is also described as a "right to squatter", a constitutional law under which a person who does not have a valid title to a small property, regularly owns land (real estate property) legal ownership or obtains legal residency power on the basis of ownership of land with the support of its legitimate owner.

Generally, a property owner has the right to recover property of his property through a legal action such as a legal action such as eviction. However, in English common law, courts have governed when a person occupies a portion of property without authorization and the owner of the property exerts its power to recover its property for a notable period of time. If not executed, not only is the new owner prohibited practicing their power to prohibit, but in the opposing property "Springs Up" is a specific latest title for the property.

Property ownership is absolutely prestigious for all of us, but this iconic status is much more complex. While it is often believed that the law is tilted in favor of the haves, many laws prevailing in our country prove otherwise. One such law is the Limitation Act.

Law


While not accepting possession in a traditional course, the occupier can claim title to the property in case of adverse possession. It is presumed that the property was permissible and legally commenced unless proved otherwise.

The essential demand of possession under adverse possession is that possession should not be obtained through force or unauthorized means.

Limit act


The Limitation Act, 1963 is an important part of the law, which elaborates on adverse possession.

The Act prescribes an amount twelve years for personal assets and thirty years for government owned ones which you must claim on your property.

Any delays may result in future disputes


The principle that the Limitation Act relies on is that the ex limits the measure, but not the rights. This means that in case of adverse possession, the original owner may have title to the property, however, he loses the right to say so during a court of law.

Period of time

To practice this law, the time period is determined by the time the applicant is in possession of the property of the owner.

Possession must be continuous, unbroken and unobstructed for the entire duration. The claimant must have personal possession of the property. However, the reservation phase does not cover the whole in which litigation between the owner and the claimant is ongoing. However, this rule also has several exemptions. If the owner of the property is a minor, or unhealthy mind, or serving within the military, the property resident cannot claim adverse possession.

Below are some basic specifications to be set up to show off adverse possession:



Hostile Possession: The object of the owner of the property will be to gain possession through adverse possession. These rights are derived on the account of the rights of the original owner. There must be a definite or implied rejection of the inscription by the owner. Creating a boundary wall across the entire property can be a means to further this ownership
.

Public knowledge: In general the public should be aware of the claimant's possession. This requirement is set so that the actual owner has enough centers to know that a person owned their property and gets a fair opportunity to do the work. However, one is not obliged to inform the principal owner about it.

Actual possession: Actual possession must occur during the period of interruptions. Material tasks such as collecting crops, repairing buildings, planting trees, building sheds, etc. can be intermediaries by which actual possession can be restricted. The owner could not declare possession on the property without being physically occupied.

Continuity: The owner of the property must have clean, unbroken, continuous and continuous possession. Any dispute in rights will violate his rights.

Specification: The owner of the property must have ownership. Possession cannot be obtained by individual entities or individuals for the claimed time period.

Some Problems are:


A milestone has been reported on adverse possession.

In 2004 the case of Karnataka Board of Wakf vs. Government of India and others explained the characteristics of adverse possession. It confirms that the onus is on the applicant to substantiate the facts and testimony necessary to declare the title to the property.

The person alleging adverse possession has to confirm the following before the court:
1. Date of occupation
2. Quality of possession
3. Public occupation was identified
4. Continuation of possession

We need change


This archaic law needs to be renewed as it goes on versus equity. It executes the owners of the property and compensates for trespasses rather than vice versa. However, until the development is done with the SuGanta Realty Services llp owners property should be knowledgeable and monitor them.

www.SuGanta.com



Monday, February 3, 2020

To promote infrastructure development, GMDA has set up 6 sub-cities in Gurugram

The Gurugram Metropolitan Development Authority (GMDA) has divided the city into 6 sub cities to pursue better infrastructure. According to officials, development projects will be implemented here after detailed study of all sub-cities.

Another reason behind the partition is that there are many physical barriers in Gurugram. So infrastructure development without properly dividing the area can cause issues and delays. However, it will take some time to study each area thoroughly. This is why development and infrastructure plans are delayed.

As planned, Sub-city 1 consists of areas to the left of the Delhi-Gurugram Expressway while traveling towards Jaipur, covering the areas of SPR and most of the new Gurugram. The area of ​​Old Gurugram, located between the National Highway and the railway line, comes under sub-city 2. The area between Naurangpur and Sohanpur will constitute sub-city along with Sector 68 3. Sub-city 4 includes IMT Manesar, while sectors 81 to 96 are covered by sub-cities 5 and 6.

Sub cities will be divided into sectors, so that infrastructure problems can be resolved at the cluster level. For example, if a particular sub city is facing a lack of proper educational infrastructure more schools will be developed there. Although large infrastructure projects can only be built at the city level, community centers, water supply, etc. can be developed at the cluster level.

An environmental and transport plan will also be developed based on sub-cities. For example, if a certain sub-city is running low on ground water, then the emphasis will be on recharge of ground water. Afforestation projects will also be started in the same way. By this division of Gurugram, GMDA aims to solve problems at the most local level.

The first Residential Advisory Council (RAC) was held in Gurugram on Thursday, and the division of the city into these sub-cities was also discussed. The RAC consists of people from different social classes and its main role is to monitor the pace of projects undertaken by GMDA.

You have complete over your advertising spend with SuGanta Realty Services llp. Select the zip code of your choice and in order to run your business smoothly you have to get leads as per your requirement.