Is it wise to invest in the Indian real estate market in 2020-2021?

Finance Minister, Nirmala Sitharaman presented the Union Budget 2020-21 on 1 February. Highlights of the budget for the real estate sector are as follows:

Deductions on affordable housing were allowed on housing loans sanctioned on or before March 31, 2020. In order to ensure that more people take advantage of this benefit and to pursue affordable housing, the date of loan approval has been proposed to be extended by 1 year. To boost the supply of affordable homes in the country, a tax holiday is being provided on the profits earned by the developers of the affordable housing project till 31 March 2020.

Currently in real estate transactions, when taxing income from capital gains, business profits, and other sources, if the consideration value is less than the 5% circle rate, the difference is counted as income for both the buyer and seller. To reduce the difficulty in real estate transactions and provide relief to the sector, it has been proposed that the limit be increased from 5% to 10%.

An investment of Rs 100 crore will be made on infrastructure in the next 5 years in various sectors like housing, infrastructure, energy, healthcare, educational institutions, transport, logistics and warehousing, irrigation projects etc.

The year 2019 was a period of many highs and lows for the Indian real estate market. The ongoing crisis resulted in a decrease in liquidity and a slower pace of sales improvement. However, on the positive end, the successful launch of India's first real estate investment trust (REIT) opened up new avenues for investment, while several positive government initiatives provided much needed relief to the sector. 

According to research, the housing sale price of India's top 9 listed players reached in the 2nd and 3rd quarters of 2019, an increase of 5%. 2019 saw a 4–5% annual increase in housing sales with over 2.58 lakh homes sold during the year. The new housing launches in 2019 saw 18-20% annual growth and developers are expecting sustained efforts of the central government such as additional cuts on loan interest, GST rate cuts, alternative investment funds for stalled projects and credit guarantee scheme changes in the sector will be strengthened.

Affordable Interior Decoration Ideas For Your Apartment

Buying your home in a vibrant city is like a dream come true. But as an amateur, turning your empty house into an inviting place can be misleading. You may have a rough idea of ​​what you want in your first apartment, but your wallet may not support your vision. Also, as you get limited space in an apartment, you may not fit into everything you wanted. While decorating your first apartment, you need to focus on meeting your essential needs while maintaining a decent attitude. As you have to stay indoors for the rest of your life, make sure that its decorative accents reflect your taste and personality. In this write-up, we have shared some simple tips for decorating your apartment.

1) Invest in multi-functional furniture units

As apartment spaces are limited, instead of decorating your home with bulky, luxurious furniture units, you should buy multifunctional fixtures. Furniture such as sofas-cum-beds, diwan beds, and coffee table cum bookshelves help you create a clutter-free minimalist interior. The practice of matching pieces of furniture for the living room and bedroom is more; you can also try odd pieces. But whatever furniture you choose should go well with the overall interior plan.

2) Opt for neutral wall colors

Instead of painting your home in dark and bright colors, you should paint the walls in a neutral shade, such as off-white, light pink, sky blue, or light green. The light colors of the wall paint reflect more light in the room and go well with both modern and traditional furniture units. In addition, it produces a more energetic feel.

3) Use vertical space smartly

When it comes to decorating a small apartment, the sky is the limit. But make sure you use the space properly. You should focus on creating a more functional space while maintaining a clutter-free approach. To give your apartment a minimalistic and clutter-free look, you should focus on using more vertical space and less floor area.

4) Use mirrors smartly

Hanging a mirror and using mirrored accessories is a great way to create a feeling of greater spaciousness. In addition, mirrors can be used excellently to diffuse more daylight in the home and create a luxurious aura. They are an excellent accessory for the dining room, living room and bedroom.

5) Option to look green, nature friendly

The main purpose of creating a green interior is to improve indoor air quality. According to Vastu Shastra, the color green is considered to invite balance and harmony in the house. To achieve this, you must use hardwood furniture as they last for years and also feel fresh. Also, avoid plastic and synthetic things at home. Instead of using synthetic carpets, use cotton carpets. Also, try to keep everything from curtains to walls, ceilings, green or blue curtains. Also, instead of placing miniature sculptures for decoration, you should choose indoor plants.

The Impact of RERA On Real Estate Industry and Benefits

Due to various deregulation of business establishment processes and the ease of doing business of many foreign players and multinational companies are now getting attracted towards India. The current tempo of the luxury real estate market in India is expected to continue as demand for luxury houses is increasing. In North India, the growth of real estate market dominates in Delhi NCR, Gurgaon and Noida, especially in high-growth projects. After the implementation of RERA certified properties in India, the industry has experienced improvement in project execution and delivery in the residential segment. The provisions of the Act have compelled real estate companies to focus more on project delivery, resulting in being ready to buy apartments in number of cities as well as being available to home buyers in various parts of the country. The Act is capable of generating positive feedback from both developers and consumers. Talking about the future, RERA promises an organized industry as it is progressive legislation. It has the potential to create a real estate industry that is desired by all as the properties have now become RERA certified

Industry benefits

• Governance and transparency
• Project efficiency and robust project delivery
• Standardization and quality
• Enhance confidence of investors
• Attract higher investments and PE funding
• Regulated Environment

Developer Benefits

• Common and best practices
• Increase efficiency
• Consolidation of sector
• Corporate branding
• Higher investment
• Increase in organized funding

Buyer Benefits

• Significant buyers protection
• Quality products and timely delivery
• Balanced agreements and treatment
• Transparency – sale based on carpet area
• Safety of money and transparency on utilization.

Agent Benefits

• Consolidation of sector
• Increased transparency
• Increased efficiency
• Minimum litigation by adopting best practices

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Circumstances when you can say NO to your landlord

A relationship between a landlord and a tenant is documented in a lease agreement. Therefore in the case of malpractice it is important to pay attention to the length and width of the lease.

Most of us live in a rented house at any time of our lives, with friends or as a family. But how much do we as tenants know about rights?

Therefore in the case of malpractice it is important to pay attention to the length and width of the lease.

We have compiled 10 basic rights that every tenant has and can lawfully state that if not infringed:

1. Verbal or Oral Agreement

If the landlord insists on a verbal agreement for a tenancy rather than a written agreement, say no.

It is important to note that all tenure agreements of ten months or more under tenancy laws must be written and registered for recourse under these laws.

2. Peace of Living

Your landlord cannot walk in the rented premises without prior notice or communication.

Each tenant has the right to enjoy peaceful occupation of property without any disturbance or encroachment from anyone including the owner.

3. Unreasonable expectations

At any point of time under your tenancy your landlord cannot ask you to vacate or leave the premises without giving valid reasons.

4. Improper Information or Notice

The landlord does not have the right to ask you to vacate the premises for any valid reason.

Generally the proper framework of time according to law is the period of one month or the time stated in the terms of the agreement.

5. Illegal Liabilities

Landlords cannot transfer any liability for expenses incurred on the property for structural damage.

Structural changes to the property will only be borne by the owner in accordance with the law.

6. Last Month Settlement

Your landlord has no legal right to ask you to pay rent and not settle against the deposit during the notice period.

7. Deposit Returns

Your landlord must return the amount paid as security for the tenancy while vacating the premises.

8. In case of deceased tenant

The landlord does not have the right to ask the legal heirs of the deceased tenant to vacate without giving valid reasons. The legal heirs of a deceased tenant are legally empowered to continue the tenancy.

9. Increase in rent

Landlords cannot ask for an increase in rent contrary to the terms agreed under the agreement.

And according to state laws, there is a formula to calculate the percentage of increase in rent every year or any other specified period.

The tenant is only liable to pay the rent if the increase in the rent amount complies with the formula.

10. Forced expansion

Your landlord does not have the right to insist on continued tenancy. The tenant has the right to vacate the premises for a valid reason.