Big relief for home buyers, Real estate bill passed in Rajya Sabha

Rajya Sabha today passed the much awaited Real estate bill , passage of real estate regulation and development bill holds significant value for safeguarding the interests of home buyers and sellers.The bill sought to regulate transactions between home buyers and promoters of real estate projects through state-level regulatory authorities.

Real estate bill

The bill recommends setting up an impartial regulatory body in states. Experts construe it a ‘welcome change’ for realty sector, considering buyers will get a forum to have their grievances addressed against erring builders. As of now, buyers are optionally limited to street protests to voice their displeasure against developers defaulting on scheduled completion of projects.

The regulatory bill has another benefit for buyers; it entitles two-third of buyers’ consent for a developer in case any structural change in a project is to be introduced.

That said, builders can’t arbitrarily enforce structural changes in any project without seeking buyers’ approval first. This has been done to prevent happening of similar incidents like the ones happened recently wherein some builders, who had changed layout plans of their projects without permission of buyers, faced courts’ appearance.

Metro Rail: The undisputed growth driver for real estate

metro impact

Metro rail stands in symbolism of infrastructural development. It epitomizes the might of a city’s infrastructure progress. It symbolizes city’s growth march in future. Moreover, it influences development of real estate of the city, the state and the entire country. A region reinforced by infrastructure development is a financially viable destination for corporate bigwigs. Infrastructure boost is considered a catalyst for continual progress of the region. Metro rail affords immense contributions in this context.

Year 2015 witnessed an era of metro advent. Chennai and Jaipur witnessed inauguration of metro rails. Delhi and Bangalore followed the suit with expansion of metro lines. India owns biggest railway network in the world. At present, the country owns seven metro systems currently operational. Firstly, Kolkata witnessed metro advent in 1984, then Delhi and thence all the major cities. On 2009, expansion of metro lines entered in Noida (Noida City Centre).

Cities with metros along their metro corridors witnessed modern transition from their conventional forms. This, as a result, has proved to be a quantum leap in fcilitating development of the cities witnessing presence of metro expansion. The transition in real estate is quite noticeable upon the advent of metro as surge in the value of nearby land is one of the ripple effects of metro expansion. Aside from resolving traffic woes at satisfaction level, the arrival of transit systems like metros and monorails is deemed to be catalyst behind shooting up real estate values, given how the convenience is perceived to be the most privileged option for consumers who can willingly pay for more to avail easy commuting facility.

The metro rail expansion in any area signals as prescience of its development, given how tactfully it facilitates connectivity woes. It gives people an improved means of approachability. Quite understandably, the commercial and residential areas gradually become the witness of an incentivized surge in their values from the perspective of investment or dwelling. The metro is the creator of various jobs that consequently boost housing demand, apart from limiting on travelling costs and convenience for people, a decisive factor for any prospective homebuyer. Staying close to metro bears advantages that are unmistakably sumptuous.

Impact of metro rail on real estate:

Job creations: an expansion of metro railway or inception of the new metro corridor directly or indirectly signals creation of various job opportunities. Jobs being one of the critical sources of income pose to be a potent factor that can influence real estate market to a significant level. The contribution of metro expansion in the job creations will benefit realty market positively, as surge in income of potential homebuyers invariably accelerate growth of sales in properties. This, as a result, induces demand surge of housing projects, which consequently gives boost to real market in due course of time. This is one of the benefits of metro rail for real estate.

Transit convenience: this one comes off as one of the potent factors for inducing exponential growth of realty, believing transit facilities of an area beget an increased influx of job holders; they usually give proximity preference to the accommodations situated close to bus stands or metro stations. Data collected from various online real estate portals reveals many buyers give preferential treatment to a residential project having presence of comfortable transit facilities.  This is one of the crucial considerations most homebuyers or almost all the home buyers take into account. It said a large fraction of queries from potential buyers emphasized on the location facilitated with the transit facilities. And metro connectivity, in this context, is certainly a catalyst in improving the sales value of a project, as it transpires transit ease.


The significance of metro rail for real estate sector is such that it creates immediate visual impact on the values of properties in commercial segments, increasing the price of these properties to a several fold higher. Moreover, prospective businessmen search for office spaces in the place where connectivity means such as bus, or proximity of a metro station to the location of a commercial project is preferred. It’s been observed many a time that the commercial value of a property decreases followed by its distance from the fundamental necessities, including the metro connectivity.

Land value surge: the proximity of metro station to a commercial or residential real estate is one crucial yardstick for appreciating its values. It also unfolds core competence of the land in terms of investment viability. Any project situated at the walking distance of a metro station has its substantial property value for the prospective consumers/buyers, and they take good consideration over this matter before booking a flat or an office space. From commercial angle, any startup firm prefers office space abound with transit facilities in the vicinity, considering such facilities are the catalyst for rapid expansion or reach of their business, especially if this is to be thought from the point of employee’s convenience, for employee satisfaction is one of the factors behind increasing success of a business entity. Metro rail, in this context, is surely a major player.

Study reveals that the commercial value of an office building shoots up largely if the metro is located within the radius of 500 meters to 1 km. Furthermore, the land value of an area goes up substantially; say by 50% from the existing market price post launch of a new metro falling close to the area, aside from affecting overall potentiality of adjacent micro-market. There is infinite viability of a land situated closeby a proposed metro station. It is also catalyst for population surge of the residential areas sited in the vicinity of metro corridor, aside from surging values of retail and office spaces of adjacent areas.

Such is the magnitude of metro that real estate can’t afford its absence. This is therefore the reason, that proposed metro expansion or new metro linkup plan is always held in high enthusiasm by real estate players, considering the estimated values of nearby lands, commercial and residential values of a project will go up.

Conclusively, metro casts significant impact on prospective growth of real estate in a region. It influences development of real estate of the city, the state and the entire country.

Budget 2016: Key takeaways for real estate

real estate budget 2016

The Finance Minister Arun Jaitley’s third Union Budget for fiscal year 2016-2017 presented in Lok Sabha on 29th of February 2016 is being hailed by industry players as positive roadmaps for incremental growth of real estate sector that is virtually beleaguered owning to prolonged slowdown in the sales of inventories, and of course cash crunch.

There are two very significant features emerging from the current budget, and they are – concentrated focus on affordable housing programs through incentives, and rebate of additional Rs 50,000 on interest against the loans for the first time home buyers. These measures are construed to be quantum leap for transpiring real estate sector’s steady growth that is definitely not on its skyward trajectory over the last few years.

The proposed measures as introduced by FM Jaitley will, in all likelihood, revive the growth-crippled realty.

Tax incentives on affordable housing project:

The focus on materializing government’s ambitious affordable housing program to which proposal of 100% tax exemption from the profit of affordable housing is one key takeaway introduced in the budget. It signals much-needed helps for the builders to develop housing projects in affordable segments without sustaining the brunt of exorbitant construction tax, and they could be able to offer home buyers better accommodation under budget.

How is it helpful?

As a matter of fact – affordable housing program is one of the ambitious programs of NDA government in the context of boosting real estate sector to a rather significantly higher status, which quite unfortunately is plagued with long-hauled downturn. Even from the perspective of business viability, the proposal in the budget for incentive dedicated to affordable housing program means a lot for survival of realty today, considering the implementation of the proposal and subsequent result of greater thrust it will bring in realty.

An industrial expert who terms the union budget 2016 as balanced and growth-focused for realty says developers will feel incentivized owning to the proposed 100% tax-free construction of projects – 60 sqm for non-metro cities and 30 sqm proposed for metro cities. This is significant by the fact that housing stock will be created in much surge which is also the central focus of demand in real estate market.

Furthermore, the hundred percent tax exemption proposed will prove to be quantum leap in facilitating materialization of government’s ambitious ‘Housing for all by 2022’ program. We know that the real estate sector is largely dominated by home buyers from middle and lower income groups, who will be benefited by the proposal in the budget, considering they will not have to compromise on their readymade budget anymore when buying an affordable home. Meanwhile an industry player also voiced his opinion that the budget should have addressed giving realty sector an infrastructure status, a long-standing issue indeed.

Benefits for home buyers:

For any common home buyer the interest paid against home loan is one of the core issues in the course of buying a new home. Giving focus on the anguish of home buyers, the budget 2016 has introduced tax sops for the first time home buyers – a rebate of 50k on interest of loan up to Rs 35 lakh if the cost of home is less than Rs 50 lakh. Moreover, the budget has also rendered big relief to those living in rented accommodation as deduction of Rs 60000 HRA (home rent allowance) has been proposed in the budget under Section 80GG.

An expert says the rebate of Rs 50k will be beneficial for first time buyers in tier-III and tier-II cities. As a result of tax incentives for first time home buyers proposed in the budget, there is positive hope that housing demand and supply will go up, considering larger fraction of housing demand roots in affordable segment. Hence, real estate sector expects increased traction of growth.

On the other side of the coin, the cement industry will witness demand surge in days to come, as the budget has proposed construction of 85% road projects and construction of 50000 kms of state highways to be transitioned into national highways.


The incentives and exemptions announced in the budget 2016 will in all likelihood incentivize growth of real estate creating incremental growth surge in the sector in days to come, along with fulfilling largely the dream of ‘housing for all by 2022’ program launched by Narendra Modi led NDA government in Centre.

From down payment to personal savings, learn what it takes to buy a home

tips to buy home

A risky venture like buying a home requires a great deal of emotional and financial considerations. But most importantly, are you confident if such venture is worth taking the risk?

Read these points and evaluate yourself if you are ready to buy a home –

Down payment:– if you don’t intend to apply for a home loan, then you must seriously consider down payment and personal savings, as they are crucial factors influencing your decision in a big way. Your payable down payment should be of 10% of the value of your property as savings, because lending institutions in India don’t grant finance beyond the reach of 90% (most banks grant 80% of the loan against the home to be purchased).

To this context, your savings or ready-made funds in hands determine your eligibility for payable down payment.

Examine your financial condition:– as self-explanatory as it may seem, healthy financial condition is literally a cog in the wheel for determining a hassle-free EMI payout against home loans. That said, your financial condition is one key criterion on which your bank will measure up your repayment capacity and on the basis of it the lender will finally sanction or turn down your loan request. Moreover, a careful study of your current financial condition will help you learn whether you can afford EMI outgo without defaulting on the same.

Do you know a systematic upkeep of debt-to-income ratio will eventually help you figure out your repayment capacity for a loan taken?

This is a great, workable financial strategy you need to work on. An important reason to consider this tactic is to evaluate your status based on your current financial condition, which is undoubtedly a yardstick for determining your repayment capacity. Remember, you will mess up your credit score if you keep on defaulting on your EMIs .

Therefore, it is wise to predetermine this factor before you opt for buying a home by means of suitable home loan.

Usually, a debt load of 30% is something you can stand but you can’t stand if the same goes up to 50% that is reasonably tougher liability for someone without healthy income backups.

The purpose of buying a home: do make some homeworks and try to introspect the purpose behind buying a house. Well, some people buy for residential purpose while there are those who prefer it for commercial purpose. Either way, it is must to gauge the tenure for which the property is purchased. An extended tenure will consume big chunk of your life’s ages in repaying EMI against your home loans.

Therefore, go for long term home loan (20-years, for example) if you think you can sustain such a prolonged repayment cycle. Otherwise, look for short term loan to buy property for investment purpose. Study closely the associated risks and your capacity to afford short term loan.

Take a serious look on your job:– never go for home loan on the basis of unstable job, especially if you are a salaried individual. If there is no stability in your employment and you end up changing it often due to certain reasons, it is advisable not to opt for home loan. You will end up jeopardizing your credit score by defaulting on repayment of loan.

The condition of your employment directly links to your capacity for repaying the loan. How can you repay if your source of income (job, for example) is volatile. It is vital to prepay overdue EMI before the end of the tenure, and your unstable employment will be a biggest deterrent to fulfill that liability.

Even for businessman, seeking a home loan is not advisable if he/she lacks comfortable flow of income.

Study real estate market:– factually, real estate market is volatile and currently the growth trajectory of this sector is not on upward course. This means investing in realty is risky venture if you are not wise enough to study market nuances beforehand. For example, study the location and adjacent facilities you want to purchase a home in.

One quality recommendation is to seek help from a reputed real estate consultancy firm. It will narrow down your quest to a quality option, thus helping you save time and money.

Apart from the above-mentioned factors, study the followings:

  • As one of the tips to buy home, ensure if your home loan carries some tax exemption benefits. Though such exemption is subjected to change upon the release of Union Budget, however pay attention to details regarding tax benefits available on your home loan. According to prevailing legislation, you can avail tax benefit of nearly Rs 2 lakh on your home-loan-funded property. Even Section 80C grants deduction of nearly Rs 1.5 lakh repaid principal.
  • While buying a home, don’t forget to study extra costs over parking payment, stamp duty etc. These costs will burn a hole in your pocket. Therefore, prioritize your budget accordingly.
  • Your bank can slap processing fees on your home loans for conducting verification of the property you want to purchase. To some extent, such expense is worth the deal, considering bank deploys its field staff to evaluate legal status of the property, and if it is okay, your loan is sanctioned. At the end of the day, upon rejection, you get to know the property was illegal, thus saving you from many agonies you would have felt later in future.

Buying a home is a great deal of financial and emotional decision. Therefore, it requires a lot of careful pre-plannings and various strategies in place. Consideration taken in advance of buying a home will eventually help you sort out many issues you may encounter during the process.

Digi-tech, a catalyst for realty growth


Technology is deeply ingrained in virtually every walk of human’s life. Its presence is quite notable. Technically speaking, we are beleaguered by technologies present among us in diverse versions. We are drawn to its charm and delve deep into its world. Take for example, the cellphone. A sweet swanky big-screen cellphone in your hand and you find yourself drowned into its digilicious world! From texting and phoning to surfing and shopping at fingertips – shouldn’t I just say technology is engulfing us into labyrinth of its own crazy, exciting world?

Indeed, the experience is incredible, unfolding to us the radical advancement of technologies as if on a mission to simplify our needs, seamlessly. And they’ve, quite loudly, done this, revolutionizing our life in wordless wonder.

Digital advent in human life marks revolutionary change synonymous to the one transpired in 1900’s industrial revolution. This digital technology came in companies, such as social media, e-marketing, web communication, advanced IT systems and other state-of-the-art mediums. Many years down the lines, these technologies underwent various experimental phases and modeled into different versions. Now they are prime necessity, streamlining works for online aggregators and core real estate industries. In fact, digital revolution bears impactful synergy of corporate and technological success with their notable transitions.

For real estate, the transition is remarkably brilliant – construction becomes notably sturdy and robust, and success of sales marketing is galloping. Technological innovations brought changes in the mainstream real estate ecosystem, modeling it to a rather sophisticated version. Streamlining information share becomes reliably faster with digital revolutions. The real estate sector, compared to its counterpart sectors all over India except agriculture, boasts of being the second largest employment sector of the nation. Digital evolution profoundly changed the sector, bringing seismic transition in demand and supply spectrums.


real estate

In fact, the digital revolutions fostered efficient flow of information in realty in a way resonating with intrinsic desire of buyers and investors. Property selection from plethora of options in the online listings is now seamless and least time-consuming task. Crucial data about a property like price, location, facilities and nearby areas or landmarks is now seamlessly accessible. Digital revolutions in broking business of real estate transpired phenomenal change, organized and transitioned the sector into profit-yielding, booming aggregators like Myrealestate and others. The alternatives for purchases witnessed surge. Facilities and amenities emerged in various projects launched by developers in order to excel in competitive market scenario of real estate industry. Digital revolutions induced expansion of realty business in cities, and gave push to investment flows. Demand surge prompted builders to construct meticulously-planned projects, which shaped real estate ambit well.

Technological revolution produced various digital marketing avenues, the innovative platforms assisting property owners in streamlining sales and renting of the assets. These avenues, assisted by ancillary channels like Twitter and Facebook, help them take a grip on market through solid sales traction. Various real estate players enjoy widespread presence on the online platforms, helping novice by offering viable investment opportunities with huge profit potentials. Moreover, the technological revolutions brought forth innovative concepts helping builders how to keep abreast with the evolving real estate construction industry without giving up on environmental values. More design software products are being utilized on mass scale so that new buildings remain in friendly terms with regards to environmental needs, or they don’t violate environmental norms. To sate otherwise, green building is the novel concept the realty players pay concentrated focus on, and the technology is playing pivotal role to its fruitful realization.

Technology contributes help for real estate in various ways, and systematically-optimized information processing system is one crucial thing benefiting banks and homebuyers in substantial way. For the banks, they can offer potential borrowers a wide range of financial products accessible seamlessly on their websites coupled with efficient process, thus facilitating home loan sanctions faster. The tedious processing for the same is becoming a time of bygone era.

Technological revolution has also facilitated information flow, qualitative and very streamlined through cloud computing. Data aggregators have reservoir of massive statistical info, thus underscoring significance of digital revolution in realty. Previously, when realty was at the rudimentary stage of adopting digital technology to its full potential, homebuyers helplessly sought help from local brokers for information, legal and otherwise, pertaining to home-buying. Now is the situation dependence of such sort is non-exist, even a bit of data is seamlessly accessible, thus showing time and cost effects brought by technology penetration.

There is no disagreeing as to technological revolution has impacted real estate market tremendously, given the perceptible sign of streamlined activities of the market in terms of seamless accessibility of countless information about projects, property transactions and other real estate data. The realty players ensure their foothold in the market by leveraging on the power of technology and its contribution I the advancements of realty.

Image Source: Google

Union Budget 2016: Key takeaways for real estate


The union budget (scheduled release on February 29, 2016 by Finance Minister Arun Jaitley) is the center of attraction these days as the whole nation is staking high hope on his budget. Among others, real estate industry watchdogs are also pitching hopes on the upcoming budget, anticipating some development-centric announcements for real estate, including incentives, easy service tax, home loan benefits and others.

Cheaper home loans for financial safety

The finance minister is expected to include financial layer of safety measures for the buyers in light of the infinite delays being observed in the construction of a real estate project. This is expected to be a heck of crucial step aiming to trim down the level of decreasing sentiments in realty market. The unpredictable delays causing the failure in punctual delivery of the projects have degenerated once the stable sentiments of realty market into a low level discouraging one, thereby picturing a rather difficult scenario for the survival of real estate industry due to resultant slowdown and poor sales of inventory.

As a curative step to this problem, the government has to grant financial security to the buyers from the project delays, say for instance, tax deduction limit (currently it is Rs 2 lakh) for home loans should be brought down for homebuyers in metropolitan cities. The existential limit doesn’t fit in the ticket sizes of houses costing beyond Rs 1 crore in big cities like Mumbai. There must be concessions on tax for housing insurance premiums so that end users could feel motivated to insure their properties.

“The Union Budget should pay specific heed to this pressing need. On purchase into an under-construction property, buyers can only claim tax benefits of Rs. 2 lakh after possession if construction is completed within three years. The benefits reduce to Rs. 30,000 if the builder delays construction beyond this – and they pay higher interest. First-time home buyers purchasing properties for self-use additionally pay rent,” said Anuj Puri, Chairman & Country Head, JLL India (source: ET Realty)

Tax benefits for homebuyers at the time of paying premiums for housing finance

In contrast to the existential tax concessions for homebuyers that they avail after taking possession of their properties, there should be an inclusion in the union budget allowing homebuyers to avail the tax benefits from the time they start paying interest on their home loans. This step, if taken, will be extremely helpful for the buyers as they would be able to ease off their financial burdens and will simultaneously boost up the volume of home loans repayments. Besides, the market sentiments will undoubtedly witness surge thereof.


Meanwhile, the provision to give tax exemption to the buyers on the purchase of an under construction property from the capital gains is also being recommended. It outlines that the under construction property must be completed within 3 years of its sale if purchased out of capital gains, so that the buyers could avail tax benefits thereof. In case the construction doesn’t meet the deadline as specified down o agreement papers, the timeline is recommended to be extended for five years from the prevailing three years.

Promote green housing

Currently India doesn’t have satisfactory number of green housing projects owning to builders’ reluctance to indulge in such venture, considering the notable sign of low demands as buyers avoid paying additional premiums for these projects. The government of India should bring in a policy to provide a slew of incentives for this segment, thus motivating potential buyers to invest in green projects as well.

green building1

The union budget 2016 should deliver convincing benefits to the buyers so that investment in green realty picks up height and stakeholders in residential real estate sector feel optimistic, thereby increasing the sentiments of the market in this segment.

Boost infrastructure

No development in real estate sector of any country is possible if its pace for infrastructure development is at low level. Therefore, if Indian realty industry is to seek substantial growth, there has to be top of the line infrastructure expansion aiming to streamline civic connectivity broadly in various outlying areas of metro cities. This on the other hand, will promote affordable housing and bloat up the bubble of market segments signifying notable transition in the sector.


yamuna expressway property

Moreover, NDA government’s flagship housing scheme ‘Housing for all by 2022’ will get its wings of development through powerful infrastructure developed across the nation’s realty spectrum.

The real estate sector is the second largest employment sector after agriculture in India. Quite essentially, this sector can’t be given the cold gesture at any cost and development to uplift its condition from the current plight is the most pressing need that the government must put on higher priority. We hope that honorable Finance Minister will take due considerations, and initiatives to stimulate the growth of real estate sector will be taken in the upcoming Union Budget 2016.

Smart City: Cloud nine moments for Ludhiana

smart city ludhiana

It is a gala moment for Ludhiana. This beautiful and the largest city of Punjab rose to a widespread fame after it was placed in the list of first 20 smart cities as declared by Union Minister M Venkaiah Naidu. The city wore the ‘smart city’ tag and literally surpassed relatively populous cities battling for their placement in the smart city competition. Ludhiana is now all set to witness smart city revamp.

Standing majestically in the heart of National Highway 01 connecting New Delhi to Amritsar, Ludhiana falls in the distance of 98 kms west from Chandigarh – another spectacular city of Punjab which is coined as ‘smart city’ because of sheer grandeur and winsome traits the city endows.

What made Ludhiana to be in the smart city slot?

First of all it was not coincidental of Ludhiana to have slotted in the list of smart city. It earned its placement in the slot. In fact, it’s been shortlisted under certain parameters that the city fulfilled during the course of selection.

Let’s study smart city prospect to understand this better.

A smart city is not a typical ordinary city. It’s a dwelling place giving privileged lifestyle. Technically speaking, it consists of urban spaces which are totally eco-friendly, well-planned and integrated technology-wise. The quality of life in the smart cities is notably more comfortable compared to its relatively less modeled and revamped counterparts. Though the standard of living is not comparable to the one found in ultra-luxury villas, yet quality living and the way facilities are offered make smart cities an experience of having dream-living accommodations – at least far better and cozier than any ‘concrete jungle’ city.

A life of such standard in smart cities is facilitated by smart solutions encompassing IT connectivity, e-governance, citizen participation, institutional and financial model, power, water, sanitation and mobility. Therefore, smart city understandably holds substantial values when it comes to evaluating living standard and civic comfort.


Selection in the List of Smart City

So, a city of such mega status requires employing an in-depth consideration of all the believable parameters and criteria determining its placement in the smart city slot.

The two elements – e-governance and city participation – proved helpful for Ludhiana to get selected for smart city. They are also parameters considered for any city to qualify for smart city. Means, Ludhiana is one of the winner cities where show of e-governance and civic participation to vote their respective cities for smart city was bubbling with excitement. To say otherwise, denizens of Ludhiana, like fully aware civilians, orchestrated programs and participated in government’s discussion forums online to speak their mind for their city to be chosen for smart city program.

Moreover, the use of social media was impressively huge as citizens, especially students and youth, signed in on government’s online portal, and shared their viewpoints on desirable features for the city. According to the media reports, responses on the portal and social media were overwhelming for Ludhiana.

When Ludhiana Municipal Corporation sought feedbacks from denizens through social media channels, there was deluge of responses favoring the cause; large number of respondents voiced their takes on various issues like pollution, infrastructure and traffic etc. For example, ‘Ludhiana — Jiven Main Vekhan’ the online campaign was organized to galvanize the response of people on the website of

The campaign proved notably worthwhile for churning in an estimated volume of 2,200 submissions.

Some of the critical issues Ludhiana face include traffic gridlocks, impure drinking water, insufficient public transport and surging level of air pollution. These problems were drawn to attention by media, residents and officials of the state government. It showed the concentrated efforts of authority and civic for making Ludhiana a smart city. To state otherwise, civic participation was on the surge. Reports say there were several rounds of visits made by MC officials of the city Chandigarh and New Delhi to discuss proposals with the officials of state and central government.

The real estate industry in Ludhiana is active and flourishing, which means the city is one of the 30 cities where opportunities are diverse. Ludhiana is one of the tier-3 cities with cost-effective location full of skilled manpower, while surge in consumer power makes city an ideal heaven for retailers. Ludhiana is one among top 10 tier-3 cities in office market and whose growth is driven by affordable realty market and skilled laborers favorable for office set-up in the city for any enterprise.

Ludhiana is home to a chain of organized stock in retail segment. To say the least, the city is den for retail business due to having improved infrastructure, buying capacity of consumers and mature retail with quality finished stock. These factors lay the bedrock for city’s having been selected in Smart City slot. Moreover, the city is the ideal destination for national and global brands coming to the city on large scale.

If analyzed based on the national and international companies moving into Ludhiana, then the city fares well on ‘Smart City’ selection criteria. This is because the penetration of celebrated brands to the city signifies its soaring realty values, both in commercial and residential aspects, and since real estate is the second largest employment sector after agriculture, Ludhiana’s selection in smart city is deserving and appropriate.

Image courtesy: Google

What is off-plan property? What it takes to buy a property off-plan?


An off-plan property refers to the assets foundation of which is still in the process. To put it simply, it is assets that isn’t yet in existence. As self-explanatory as it may sound, such property contains risk factor. So, the risk-cautious buyers may not be willing to venture money in such sort of property investment. But reality of off-plan property is wrongly interpreted or conjured up so due to lack of understanding of people.

As a matter of fact, there is no definite ground laying claims that off-plan property yielded loss to the investors or buyers. There are examples testifying that many buyers and investors experienced lucrative deals from such property options.

What is off-plan property?

As outlined, an off-line property refers to a property or a real estate project whose foundation or structure is not laid. That said, such property doesn’t yet exist in its physical appearance, or the assets that exists but on paper. It is also known as pre-constructed property. Real estate developers employ hard-hitting advertising method to promote these properties for target customers.

Is off-plan property risky?

The risk factors definitely portray sense of apprehension among buyers. Yet, a buying approach incorporating careful planning, research and sizable degree of forethought can otherwise churn out safe and lucrative deal. To venture into top-notch and trusted brand is a recommended advice to opt for; as such approach yield safe and secure deal in addition to healthy returns.

A market as vast and rapidly expanding as residential property, capital appreciation is a normal occurrence. This is practically in relation with market’s typical tendency: increasing demand signifies improved sentiments or vice versa. Factually, the market in residential segments often delivers the semblance of growth, even if it seems to be fallen in nearly abysmal downturn. This in further definition of realty market’s bona-fide status reveals market’s investment viability for buyers or investors. Off-plan properties, to this context, pose to be viable options for buyers and investors for their availability at considerably lower prices and affordability against ready-to-move-in options.

As frequently observed, companies with huge investment verticals are usually at the receiving end of golden opportunity as pre-launched units. They purchase such units on a discounted rate, while individual investors receive the leftover ‘post-launched’ units at a price not comparatively at par with the pre-launched ones. Most agents curate their data reservoir to handpick some serious investors to offer them a myriad of pre-launch units on attractive schemes, in anticipation of convincing the buyers into purchasing the off-plan projects. Such units are pre-designed in conjugation with buyers’ central needs; encase all requisite specifications to help buyers assess quality of the units from the perspective of healthy investment returns.

Off-plan properties: The benefits

Comfortably affordable: off-line properties endow one of the striking features – they are comfortably affordable. Thus, these properties put easily sufferable load on your readymade budget. Therefore, buyers with constrained budget favor off-plan property as a viable option. The slackened price of pre-launched properties is the result of their non-existence.

To say in other words, since these properties are not physically available, they don’t encounter comparative market analysis, as mostly happens with properties with their physical presence in market. Another reason says off-plan properties bear reduced price to ensure they are effectively promoted to widespread targeted buyers. To put simply, off-plan properties are comparatively more affordable than readymade flats.

Saving you on repair cost: a newly launched apartment barely requires maintenance and repair, hence saving you from incurring maintenance and repair cost in the first place.

State-of-the-art creation: luxury off-plan properties are usually outfitted with sophisticated and state of the art equipment and power-efficient appliances compared to readymade units offering old-fashioned facilities. That said, already-built apartments are not likely to have the most futuristic facilities, but off-plan projects will most probably dish out delectable facilities to your heart’s content.

Multi-choices: buying an off-plan property means to enjoy the privilege of multi-choices, say you can purchase an apartment based on your individual preference like quant surrounding, nearest landmarks etc. Also, early purchase brings in various salient features like stamp duty rebate, higher rentals etc.

How to pick up an off-plan property

Do your homework: a thoroughly done homework encompassing analysis of location, adjacent areas, development and demand status of an off-plan project will help you greatly. A thoughtless or impulsively bought property of such nature will eventually put in a financially vulnerable position. Exercise caution.

Status of property: every detail about the property including its specification and dimensions must be studied carefully. Is it good for your commercial purpose (tenancy)? Are there any extra charges like service or maintenance charges with the project? Know these key things beforehand.

Mind location: I know you may have heard of this suggestion so many times, but still it is all about location that matters. It is one of the most intelligent and decisive factors evaluating value of an off-line property. Is location safe? What about transports, malls, shops, schools, hospitals and parks in proximity?

Reputation of builder: no matter how attractive the scheme or freebies, no property can give you best result for your heard earned money if you fail to consider reputation of a builder. Even a branded real estate company holds aura of something you will take instant dislike of. Be familiar with builder’s reputation I market.

Buying an off-plan property is entirely a personal choice. It may sound risky or fruitful for your investment. However, this sort of property option is not bad considering the privilege of affordability and choices you get. On the other hand, you enjoy the benefit of having a property with top of the line creation and state of the art facilities. What you need essentially is to do a thorough homework, study builder’s reputation and figure out location and your budget beforehand. At the end of the day, you will feel at the receiving end of profitable deal. Off-plan property is a good choice if made cautiously.

Sales Executive / Senior Sales Executive


  1. Report on sales activities to top management.
  2. Enquire clients to determine what kinds of properties they are seeking.
  3. Assist clients with property sales which is best suited to them.
  4. Assisting in legal documents including listings and sales contracts.
  5. Provide legal, economic and market advice to prospective clients.
  6. Ensuring terms and conditions of agreements are met.
  7. Maintaining and liaising with clients, building relationships with clients to encourage returning business.
  8. Coordinate property closings and overseeing document signing.
  9. Analyse market trends to determine competitive market prices.
  10. Descent knowledge of local neighbourhoods.
  11. Good communication and negotiation skills.
  12. Demonstrated track record of sales success and meeting weekly sales quotas.
  13. Follow  property closings, ensuring signing of documents and disbursement of funds.
  14. Ensure proper follow up on given leads & provide response on the same day .

Required  Skills:.

  1. Strong intrapersonal skills.
  2. Good written and verbal communication skills.
  3. Familiarity with data analysis and reporting.
  4. Hardworking, persistent, and dependable.
  5. Positive and self motivated.
  6. Meeting Sales Goals, Negotiation, Selling to Customer Needs
  7. Must have good geographical knowledge on the area.

 Experience: 0 to 1 year / Freshers can also apply .

 Qualification: Bachelor’s degree , business and marketing majors preferred , any graduates

 Salary: Best in the industry

 *Note – Own conveyance is mandatory


Home inspection is not useless, here are the top benefits


An investment as crucial and extremely delicate as buying a home requires you to exercise sense of cautions. A home is not merely to shelter your family but also a place where childhood of your kids bloom, special occasions are celebrated, and memories are treasured. A place with importance of such magnitude should be chosen wisely without getting swayed up in the fervor of excitement. From the point of purchase, it is quite rational of you to make an educated decision that whether the property holds all the requisite essentials to serve your needs best. From the standpoint of sale, ensure if property doesn’t encase hidden faults or unnoticed structural damages.

Among a range of measures to be taken to determine the quality of your property, home inspection is a highly recommended one.

What is home inspection?

Just as medical diagnosis is used to determine the nature of the disease in its early stage, home inspection works on similar analysis pattern, though it involves visual inspection of a non-living property. So to say, a home-inspector visually diagnoses the existing condition of a home property. From this perspective, home inspection is considered to be a process conducted to ascertain that the property you want to buy is fittable for living, or whether the property has any damages, leakages or other related issues. Thus, based on your home-inspector’s feedback, you decide the condition of the property and can accordingly make decision for purchase.

Who needs home inspection?

Home inspection service is not required by home-buyers only. It is also required by those wanting to sell their homes in order to spot any hidden faults like structures or mechanical defects to determine exactly the current conditions of the property. More often than not, observant buyers easily discern even the slightest rupture or faults in the property and can turn off further negotiation on that point. Therefore, the importance of home inspection is quite self-explanatory for the sellers in order to avoid chance of getting their property rejected or under-priced by potential buyers.

Home-buyers require home inspection service just to ensure that the property they are willing to purchase hold relevancy for their needs and if it is fittable for living. They can also determine life expectancy of the property based on the report of a home inspector, thus helping reassuringly about the value proportion of the property.

What involves in home inspection?

Home inspection service provider is either a licensed tradesman or real estate player, or even a pest technician (professional who finds if the home is not infested with pests). Regarding the cost for availing such service, it largely depends on type of the inspection you intend to employ. Remember, such service has its costing which is subjected to size and configuration of the property; it may involve outward areas like garage or shed or interior facets of your property. During home inspection, the professional agent takes due diligence and searches your home from top to bottom for any possible sign of fault or damage, or something out of sync.

Is home inspection necessary?

While some may question relevancy of hiring home inspection service by terming it as ‘waste of time and money’, there are still those who appreciate the significance of such service and do not succumb to naysayers’ negative refutation about home inspection. People under this category are probably those who understand that life expectancy of any physical structure or home is limited to certain years, and during the course of time it comes at the receiving end of getting damaged, infested with pest issues, or getting affected with a number of related issues.

Thus, home inspection is necessary to find out issues existing in your property that you may not be aware of. The professional will reveal to you defective walls, foundations, roofs or even non-functioning plumbing systems among various other issues if exist in your property.


A professional look on these areas of home will help you save a lot of time and annoyance, something known as a tactical recourse to avoid many hassles in future. From this analysis, yes – home inspection service is recommended as a quality option to assess relevancy in terms of salability or buyability of your property.

What involves in home inspection services?

The home inspection involves figuring out the real status of your property and recommending solutions to issues requiring repairs and replacements, if needed. The professionals visually check the physical structure and mechanical segments of the property. They inspect residential and commercial properties, condos and rentals for buyers and other clients like brokers, banks, attorneys and sellers. For a buyer, a well inspected home can end up giving you a lot of vital information about the property.

Don’t forget that every home has its own tale to tell.

Home inspection services are quite vast, and depending on your needs, you can hire one of the following services:

  • Home inspection service for checking property’s foundation, framing/structure, plumbing and siding
  • You can opt for wood-boring inspection, or choose to detect basement water problems, or heating & air conditioning to ensure if they function or not.
  • Drainage, roofing, gutters, porches, steps, decks, chimneys and fireplaces etc.
  • Choose inspection for kitchen and appliances, windows & doors, garage, ventilation, and grounds

In addition, home inspection service involves pest inspection, water quality and inspection for lead paint testing.

Benefits of home inspection:

For the seller, it is important to ensure that his property doesn’t bear the impression of faulty structure or foundation for his potential customers. That said, if you, as a seller, are not careful proactively to spot the hidden flaws in your property, chance is that your buyer will hire a home inspector to spot the faults, which would otherwise cast a dim factor on negotiability of the property. Since early caution is the better part of every sale, you should, therefore, resort to home inspection service to nip this fear in the bud. Yes, such service is chargeable and the inspector/s will want you to shell out some money for availing his/their service. However, ensure that you hire someone having relevant experience, someone very qualified in home inspection.

Home inspection can help you not to encounter any situation where negotiation could fall flat and you end up earning no value out of the sale. This is because if your potential buyer finds out certain faults, he will likely negotiate with you on property’s price, may be the buyer would want you to cut down the price to certain degree against your wish.

home prporty

Some notable benefits of home inspection:

  • Sellers can conduct home inspection to prevent any chance of sale and negotiations falling apart by identifying issues and correcting them right before home viewing by the clients.
  • Buyers can have home inspection conducted for a property to ensure if it is worth living. Moreover, they can reap the benefit of cheaper negotiation deal if the property is found to be replete with pests or structural damages.
  • Home inspectors are qualified agents who can single out major defects of a property highlighting its safety concerns and possible threats.
  • For home buyers, home inspectors are helpful in making informed decision. May be the interior feature of a home seems good, but what if drywall contains some lurking dangers? Hence, home inspection is sought to identify issues of such nature.
  • Home inspectors can spot problems like water leakage in basements, safety threats, substandard structures and poor appliances, thus helping you save money on their repairs.
  • The process of home inspection is very systematic, thorough and accurate so as to give you detailed reports of faults or damages that a property or home may have. This is crucial for a buyer on front of safety concerns. For sellers, home inspection is the ultimate guide to ensure if their property is in tiptop condition or damaged condition.
  • Home inspection is crucial service for future planning of your home. As a seller, you can convince buyers about necessity of home inspection to prevent expensive repairs of the property later in future. Whether or not your property requires upgrades are told to you by your home inspector in his final report. The report can also tell you about the life expectancy of your property.
  • After home inspector’s report, buyers feel confident and certain about the status of the property. Hence, there is no hesitation to purchase the same.

Since buying a home is a major financial investment, having a home inspected before you strike the deal, can be of exercising prudence to reap the best deal, both for buyer and seller.

Image courtesy: Google


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