Retail sector in Delhi has moved ahead, shedding off its traditional image and evolving into a more shopper-centric destination, especially in West and North Delhi. Brix Research surveys the scene
Retail sector has made a paradigm shift from being a row of shops located on the roadside to moving into showrooms in a four-walled structure. The "Mall culture" has given an extra edge to retail market. It took some time in the beginning for people to accept and adapt to the emerging culture, but gradually, shopping is now all bout a mall experience.
With change in shopping pattern, most consumers look for a more efficient and serviced shopping experience. Trends are changing, and now, nobody wants to roam around under a scorching sun and hop shops to purchase assorted items like groceries, toiletries and clothes, each from a different shop. Today, people want one-stop shopping where they find everything under one roof.
There are a few areas in Delhi whose profile has changed drastically after the advent of shopping malls and shopping complexes, like Rajouri Garden, Pitampura, Wazirpur, Rohini and Shalimar Bagh.
Malls spree — Rajouri Garden
Rajouri Garden in West Delhi is one of the busiest mall hubs. With five functional malls - Lifestyle, TDI, City Square, West Gate and Paragon Mall - the place is jam-packed on weekends and one can have a torrid time hunting for parking space near these complexes.
Santosh Kumar, a property dealer in West Delhi, says: "Earlier, in 2006-07, these malls were lying vacant and there were hardly any footfalls. But now, they have become very popular and receive a large number of footfalls."
Nisha Kapoor, a resident of Rajouri Garden, says: "I used to shop from Rajouri Garden's local market till 2006, but now I shop in only malls. It is actually very convenient to do shopping inside a mall and I also get a chance to meet friends as we can spend time together in food court."
Malls have changed lifestyle, thinking and shopping pattern of consumers. This has also increased commercial and residential values in Rajouri Garden. Another factor going in favour of these malls is connectivity - Rajouri Garden is on the Metro line, enabling people from other parts of Delhi to travel here easily.
Emerging shopping hub — Shalimar Bagh
Shalimar Bagh is the other area in North Delhi that saw a similar transition in retail sector. Commercial market of Shalimar Bagh was inactive and there was no popular shopping hub before the launch of malls. Then, two new shopping malls, DT City Center of DLF and Shop in Park of BPTP, came up and gave the area a feel-good factor.
According to Brix Research Vacancy Report, vacancy in the malls has been constantly decreasing from the time of opening with current occupancy at 70-75%. The number of footfalls has also increased and the malls have attracted residents of Shalimar Bagh and nearby areas like Ashok Vihar, Lawrence Road, Model Town and Wazirpur.
Pradeep Kumar, a local property dealer, says: "The DLF DT City Centre mall has started doing good business and is witnessing a decent amount of footfalls. Earlier, the mall was lying vacant owing to a slowdown in property market, but for the past 6-8 months, its occupancy is rising and is doing average business. This has also increased commercial and residential property values of the area."
Chain of developing malls — Rohini & Pitampura
A similar trend was seen in Rohini, where there are approximately eight malls in pipeline. Out of them, four are operational and rest are under construction. The malls which have opened are Metro Walk, North-Ex Mall, PVR Prashant Vihar Mall and Vikas Surya Mall.
According to the Brix report, vacancy in shopping malls, have continued to decrease from 2007 to 2009 in Rohini. Sajeev Kumar, a local realtor, says that malls in Rohini have developed and the number of footfalls has also increased. The commercial and residential values of Rohini experienced 15-20% increase over the last two years with these malls up and running.
Usha Kapoor, a resident of Rohini, said the coming of malls has given a new identity to the place and residents feel they are living in a high-end locality.
Wazirpur and Pitampura are the others areas where malls have played a major role in changing the areas' profile and in diverting population. Pitampura's malls like M2K Pitampura, North Square Mall, Aggarwal City Mall and Movie Time have attracted people from neighbourhood areas for shopping and dinning. A few malls are still developing and are not yet fully occupied; but it is expected by market agents that once market recovers from slowdown impact, all these malls will to do good business.
While malls have changed shopping style and demand of consumers, this has also given way to international brands to set up their showrooms in India. They have increased popularity as well as real estate values of the area as found by Brix Research analytics team.
Courtesy:- Times Property dtd:- 06-02-2009
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Saturday, February 13, 2010
Of malls, amusement parks and the Delhi Metro
Brix Research
narrates how enhanced connectivity has helped entertainment destinations across NCR
Transport corridors like expressways and the Metro line are bringing an increasing number of people closer to entertainment hubs. To that extent, they trigger growth of formal means of entertainment. One major development witnessed in National Capital Region (NCR) over the last 4-5 years has been the expansion of Delhi Metro line. This process started in Central and Western parts of the city and is now on course to link South Delhi and Gurgaon. This has provided common man with a mode of transport that is both economical and convenient. While daily journeys like the ones to college or workplace have been simplified - the occasional weekend outing too has been made much simpler as a result of enhanced connectivity to popular entertainment destinations.
One of the first entertainment destinations, which is strategically located near Rohini Metro Station, was launched by Unitech. This project was launched prior to the completion of the Metro line and has been fully operational since December 2007. It comprises Adventure Island - an amusement park and the Metro Walk Mall. According to Rajan Narula, MD of Unitech Amusement Park, "The expansion of Delhi Metro gives us reason to be very optimistic about future of our projects in Rohini, especially Adventure Island. While the city is dotted with malls and retail spaces - this is one of the few amusement parks and hence we expect a significant increase in footfalls upon extension of Metro line to South Delhi and Gurgaon, as distance will no longer be a prime consideration." He further adds, "Currently, 18-20% of our customers use Metro and they mainly comprise residents of North and West Delhi. While Adventure Island does draw some South Delhi residents - this figure is expected to go up in the near future."
Entertainment destinations in Noida are well known and attract residents from all regions of NCR. Prominent among these are Unitech projects - The Great India Place Mall and Worlds of Wonder amusement park - Great India is touted to be the largest mall in North India. These have been operational since September 2007.
November 2009 saw extension of Metro line to Noida, and its impact is there for everyone to see. According to Narula, "Earlier, while our consumer base comprised residents of East Delhi, Noida and Greater Noida, the expansion of Metro line has brought students from North Campus, as well as families from other parts of the city. Hence, we are very optimistic about future prospects after the extension of Metro to South Delhi."
The extension of Metro line to Gurgaon will further enhance connectivity within NCR. Residents of Gurgaon will be able to access entertainment destinations in the rest of NCR and vice versa. However, according to Narula, "Entertainment destinations in Gurgaon comprise mainly malls and multiplexes, which are now aplenty in other parts of the city. These days, a major portion of the footfalls comes from within a 5-6km radius around the mall." Hence, while Metro is expected to increase footfalls, percentage of population coming from regions outside Gurgaon will be small.
Entertainment options may also include theatre and art, which have been growing in popularity among Delhi's population over the last decade. According to S P Mishra, manager of Kamani Auditorium, "Delhi is witnessing a cultural shift and interest in theatre and other cultural shows is growing. The audience at Kamani Auditorium has grown over the past eight years and improvement in city infrastructure like extension of Metro line can only benefit people. Moreover, problems of parking faced on Copernicus Marg could be eliminated by using Metro rail." He further adds that their audience comprises both students, as well as the elderly, who may not possess their own vehicles and thus would benefit greatly from extension of Metro line.
Expansion of metro line is expected to increase connectivity and greatly reduce travel time within National Capital Region. Problems like traffic congestion and lack of parking space may be eliminated through usage of Metro rail services. Moreover, as population becomes more mobile, an increase in the number of entertainment spots like parks, theatres and malls is expected. While malls and multiplexes draw crowds from neighbouring localities, theatres and amusement parks, being rare, attract people from all over.
Courtesy:- Times Property dtd:- 06-02-2009
More information: about Real Estate,Real Estate india, property,
http://www.zameen-zaidad.com/
http://www.propertycafeteria.com/
narrates how enhanced connectivity has helped entertainment destinations across NCR
Transport corridors like expressways and the Metro line are bringing an increasing number of people closer to entertainment hubs. To that extent, they trigger growth of formal means of entertainment. One major development witnessed in National Capital Region (NCR) over the last 4-5 years has been the expansion of Delhi Metro line. This process started in Central and Western parts of the city and is now on course to link South Delhi and Gurgaon. This has provided common man with a mode of transport that is both economical and convenient. While daily journeys like the ones to college or workplace have been simplified - the occasional weekend outing too has been made much simpler as a result of enhanced connectivity to popular entertainment destinations.
One of the first entertainment destinations, which is strategically located near Rohini Metro Station, was launched by Unitech. This project was launched prior to the completion of the Metro line and has been fully operational since December 2007. It comprises Adventure Island - an amusement park and the Metro Walk Mall. According to Rajan Narula, MD of Unitech Amusement Park, "The expansion of Delhi Metro gives us reason to be very optimistic about future of our projects in Rohini, especially Adventure Island. While the city is dotted with malls and retail spaces - this is one of the few amusement parks and hence we expect a significant increase in footfalls upon extension of Metro line to South Delhi and Gurgaon, as distance will no longer be a prime consideration." He further adds, "Currently, 18-20% of our customers use Metro and they mainly comprise residents of North and West Delhi. While Adventure Island does draw some South Delhi residents - this figure is expected to go up in the near future."
Entertainment destinations in Noida are well known and attract residents from all regions of NCR. Prominent among these are Unitech projects - The Great India Place Mall and Worlds of Wonder amusement park - Great India is touted to be the largest mall in North India. These have been operational since September 2007.
November 2009 saw extension of Metro line to Noida, and its impact is there for everyone to see. According to Narula, "Earlier, while our consumer base comprised residents of East Delhi, Noida and Greater Noida, the expansion of Metro line has brought students from North Campus, as well as families from other parts of the city. Hence, we are very optimistic about future prospects after the extension of Metro to South Delhi."
The extension of Metro line to Gurgaon will further enhance connectivity within NCR. Residents of Gurgaon will be able to access entertainment destinations in the rest of NCR and vice versa. However, according to Narula, "Entertainment destinations in Gurgaon comprise mainly malls and multiplexes, which are now aplenty in other parts of the city. These days, a major portion of the footfalls comes from within a 5-6km radius around the mall." Hence, while Metro is expected to increase footfalls, percentage of population coming from regions outside Gurgaon will be small.
Entertainment options may also include theatre and art, which have been growing in popularity among Delhi's population over the last decade. According to S P Mishra, manager of Kamani Auditorium, "Delhi is witnessing a cultural shift and interest in theatre and other cultural shows is growing. The audience at Kamani Auditorium has grown over the past eight years and improvement in city infrastructure like extension of Metro line can only benefit people. Moreover, problems of parking faced on Copernicus Marg could be eliminated by using Metro rail." He further adds that their audience comprises both students, as well as the elderly, who may not possess their own vehicles and thus would benefit greatly from extension of Metro line.
Expansion of metro line is expected to increase connectivity and greatly reduce travel time within National Capital Region. Problems like traffic congestion and lack of parking space may be eliminated through usage of Metro rail services. Moreover, as population becomes more mobile, an increase in the number of entertainment spots like parks, theatres and malls is expected. While malls and multiplexes draw crowds from neighbouring localities, theatres and amusement parks, being rare, attract people from all over.
Courtesy:- Times Property dtd:- 06-02-2009
More information: about Real Estate,Real Estate india, property,
http://www.zameen-zaidad.com/
http://www.propertycafeteria.com/
Wednesday, February 3, 2010
3 Bedroom multistory apartments for sale Rs. 3660000 in sec – 106 Gurgaon
Type- Group Housing
Sector 106, Gurgaon,
Price – Rs. 3660000 *
Description - Spire Central, 3 Bedroom multistory apartments for sale @ Rs. 3660000 in sec – 106 Gurgaon, 15 minutes from Delhi International Airport, A short drive from MG Road, the high-street of Gurgaon, Adjacent to a thriving neighbourhood with world class schools, universities, hospitals and malls in the vicinity, Very close to upcoming Dwarka-Gurgaon Expressway connecting West Delhi to Gurgaon
Location Advantages:-
• Strategically located on the upcoming Dwarka-Gurgaon Expressway connecting West Delhi to Gurgaon
• On the Metro corridor
• 15 minutes from Delhi International Airport
• A short drive from MG Road, the high-street of Gurgaon
• Adjacent to a thriving neighbourhood with world class schools, universities, hospitals and malls in the vicinity
Marble Counter With Single Bowl Stainless Steel Sink, Drain Board With CP Fittings and Ceramic Tiles Above Working platform; Rest Oil bound distemper.
Copper Wiring Concealed Conduits And Modular Switches 24x7 Power Backup TV & Telephone Points in Living Room
And Master Bedroom only
Security System, Premium Electrical Package, I-Home Package any Special requirements as specified by you
You can get any info about real estate, real estate india, property in india, property agents in india, reai estate investors in delhi, real estate company in delhi/ncr Apartments for sale in delhi/NCR, 4 bedrooms for sale in gurgaon, residential flats for sale in gurgaon, 4 BHK Apartments for sale in gurgaon, property in gurgaon, 2 bhk in gurgaon, 3 bhk in gurgaon log on to
http://www.zameen-zaidad.com/spire-central-gurgaon.aspx and
http://www.propertycafeteria.com/main.aspx
Sector 106, Gurgaon,
Price – Rs. 3660000 *
Description - Spire Central, 3 Bedroom multistory apartments for sale @ Rs. 3660000 in sec – 106 Gurgaon, 15 minutes from Delhi International Airport, A short drive from MG Road, the high-street of Gurgaon, Adjacent to a thriving neighbourhood with world class schools, universities, hospitals and malls in the vicinity, Very close to upcoming Dwarka-Gurgaon Expressway connecting West Delhi to Gurgaon
Location Advantages:-
• Strategically located on the upcoming Dwarka-Gurgaon Expressway connecting West Delhi to Gurgaon
• On the Metro corridor
• 15 minutes from Delhi International Airport
• A short drive from MG Road, the high-street of Gurgaon
• Adjacent to a thriving neighbourhood with world class schools, universities, hospitals and malls in the vicinity
Marble Counter With Single Bowl Stainless Steel Sink, Drain Board With CP Fittings and Ceramic Tiles Above Working platform; Rest Oil bound distemper.
Copper Wiring Concealed Conduits And Modular Switches 24x7 Power Backup TV & Telephone Points in Living Room
And Master Bedroom only
Security System, Premium Electrical Package, I-Home Package any Special requirements as specified by you
You can get any info about real estate, real estate india, property in india, property agents in india, reai estate investors in delhi, real estate company in delhi/ncr Apartments for sale in delhi/NCR, 4 bedrooms for sale in gurgaon, residential flats for sale in gurgaon, 4 BHK Apartments for sale in gurgaon, property in gurgaon, 2 bhk in gurgaon, 3 bhk in gurgaon log on to
http://www.zameen-zaidad.com/spire-central-gurgaon.aspx and
http://www.propertycafeteria.com/main.aspx
Tuesday, December 22, 2009
Sun Builders Pvt. Ltd launches 3 BR High End Apartments Sun Divine I Ahmedabad
SUN DIVINE is Situated in prime locationin Ahmedabad, Sun Divine has great advantage of excellent road connectivity and calm-peaceful interiors. The surrounding neighbourhood has low density bungalow development in Ahmedabad, 'Sun Divine' being the only apartment building in 1 km in Ahmedabad. radius has a distinct advantage. Well known 'Prasang Party Plot' is located right opposite the site and the new High court is less than 3 minutes away.
Several office buildings situated on S.G. Highway Ahmedabad are easily accessible. The prestigious proposed projects such as DLF City by DLF and Shantigram Township by ATRECO, are located few minutes away from the site in Ahmedabad. The excellent location will benefit all who wish to stay connected within Ahmedabad city as well to those who have workplaces in Kalol and Gandhinagar. Located amidst peaceful surroundings, Sun Divine offers high quality living with a wide range of lifestyle amenities. Experience a quiet tranquil of nature with your family and spend those quality moments to live life to the fullest.
For more info log on to http://www.zameen-zaidad.com/sun-divineI-ahmedabad.aspx
Several office buildings situated on S.G. Highway Ahmedabad are easily accessible. The prestigious proposed projects such as DLF City by DLF and Shantigram Township by ATRECO, are located few minutes away from the site in Ahmedabad. The excellent location will benefit all who wish to stay connected within Ahmedabad city as well to those who have workplaces in Kalol and Gandhinagar. Located amidst peaceful surroundings, Sun Divine offers high quality living with a wide range of lifestyle amenities. Experience a quiet tranquil of nature with your family and spend those quality moments to live life to the fullest.
For more info log on to http://www.zameen-zaidad.com/sun-divineI-ahmedabad.aspx
Saumya Constructions made Farm houses and Individual bungalows in Ahmedabad
Saumya, being the pioneer in introducing farm houses and individual bungalows, through the concept of elite neighbourhood community development, has successfully completed more than 500 individual bungalows in 10 residential schemes, spread over more than 240 acres of fully developed land area in Ahmedabad.
AantarKshitij, as the name suggests, is a retreat, envisioned and planned by Saumya, beyond the horizon of densely urbanized city of Ahmedabad. Beyond the horizon of dreams. Located at a crow-flying distance of 10 kilometers west from the commercial hub of S.G. Road. A unique residential community in the midst of green farm lands in the neighbourhood of this mega city. Self sustained, secured and yet serene.
AantarKshitij, is a community of alternative residential plots (ranging from 1000 sq. yards upwards) with a well developed infrastructure of common amenities and community services, which are designed to make the entire community one of the most coveted addresses of future Ahmedabad.
Common Amenities for the Plot Owners
The whole community will be private property and will have no public roads passing through. This will make it one of the largest private, guarded residential community in Ahmedabad with a single entrance gate, monitored and secured privately.
Different common plots, with a main community plot of 18,000 Sq. Yards.
An artificial lake with a large designer fountain island.
A huge garden with a landscape of articulated greenery.
Large Swimming Pool and Spa facilities.
A separate children’s park as a fun escapade for the children.
A well designed large club house of 20,000 Sq. Feet having colonial architecture with a large verandah for dining on the side of the green landscape in the midst of nature.
Indoor facilities like card room, table tennis and billiards.
An exclusive state-of-the-art health club and gym for fitness.
A restaurant for the guests with all 7 days operations serving breakfast, lunch, dinner and snacks.
All weather synthetic-turf tennis court and volley ball court.
Mini Golf & Cricket ground.
20 ultra-luxurious airconditioned residential rooms available round the year for your guests.
A private and secured jogging track of more than 4 kilometers.
An airconditioned Private Party Cottage for 50 persons for exclusive dining (inside/outside), executive conferences or for any occasion that you want to celebrate with state-of-the-art digital music system and a movie home theatre with its own exclusive lounge, kitchen/pantry and service areas.
For more info log on to http://www.zameen-zaidad.com/saumyaconstructions-aantarKshitij-ahmedabad.aspx
AantarKshitij, as the name suggests, is a retreat, envisioned and planned by Saumya, beyond the horizon of densely urbanized city of Ahmedabad. Beyond the horizon of dreams. Located at a crow-flying distance of 10 kilometers west from the commercial hub of S.G. Road. A unique residential community in the midst of green farm lands in the neighbourhood of this mega city. Self sustained, secured and yet serene.
AantarKshitij, is a community of alternative residential plots (ranging from 1000 sq. yards upwards) with a well developed infrastructure of common amenities and community services, which are designed to make the entire community one of the most coveted addresses of future Ahmedabad.
Common Amenities for the Plot Owners
The whole community will be private property and will have no public roads passing through. This will make it one of the largest private, guarded residential community in Ahmedabad with a single entrance gate, monitored and secured privately.
Different common plots, with a main community plot of 18,000 Sq. Yards.
An artificial lake with a large designer fountain island.
A huge garden with a landscape of articulated greenery.
Large Swimming Pool and Spa facilities.
A separate children’s park as a fun escapade for the children.
A well designed large club house of 20,000 Sq. Feet having colonial architecture with a large verandah for dining on the side of the green landscape in the midst of nature.
Indoor facilities like card room, table tennis and billiards.
An exclusive state-of-the-art health club and gym for fitness.
A restaurant for the guests with all 7 days operations serving breakfast, lunch, dinner and snacks.
All weather synthetic-turf tennis court and volley ball court.
Mini Golf & Cricket ground.
20 ultra-luxurious airconditioned residential rooms available round the year for your guests.
A private and secured jogging track of more than 4 kilometers.
An airconditioned Private Party Cottage for 50 persons for exclusive dining (inside/outside), executive conferences or for any occasion that you want to celebrate with state-of-the-art digital music system and a movie home theatre with its own exclusive lounge, kitchen/pantry and service areas.
For more info log on to http://www.zameen-zaidad.com/saumyaconstructions-aantarKshitij-ahmedabad.aspx
Monday, September 14, 2009
PUT IT ALL ON PAPER
If you are planning to sell off your house, you will do well to commit every detail of the transaction in the sale deed, says Vivek Shukla
South Delhi-based businessman Kukoo Tiwari has stopped going to areas like New Rajinder Nagar and Patel Nagar as these places evoke childhood memories. He spent some great years in New Rajinder Nagar and also spent his evenings with his school friends in Patel Nagar. New Rajinder Nagar - that was the place where he was born in his ancestral home. It is a different matter that even after selling off his family house and building his own one in Lajpat Nagar, Kukoo visits the old Rajinder Nagar house - in his dreams!
It is no easy matter to sell your own house, and when it is a place with quite a bit of family history and built by your parents or grandparents, it is all the more difficult to dispose it. Sunder Khatri, an eminent lawyer and somebody who deals with property matters, says if we go deep into the matter in the broader perspective of fast changing socio-economic environs, the issue can be very complicated. In the good old days of joint family system, the ancestral house always came to one’s rescue to give shelter - and shelter was that entire people mainly wanted.
The position changed substantially when the younger generations branched out. According to realty experts, there are several factors responsible when a family has no choice but to sell the house. “Increase in cost of plot, leading to securing a handsome price in case of sale of the old house, which can be invested in buying another property in a less costly and less congested locality in the same place or in another town, by using a portion of the sale proceeds, the balance being kept for other exigencies are some of the reasons people sell their homes,” says Sunil Jindal, CEO of SVP group.
Why do people sell their houses? Given the fact that Indians are very attached to their homes emotionally, it is not at all easy to sell the property. Some also says many families sell their homes as they find the possibility of building a multistory apartment/business complex, which fetch them monetary gains.
Khatri cautions that before anyone sells a house, it is important to understand some key points. “You must have full knowledge of the market conditions such as whether the market is generally on an upswing, other deals going on in the area, price at which recent deals have been struck, good and reliable real estate agents in the locality, developers and promoters of good standing and reputation around, regulations governing sale-related matters applicable to the house in question, stamp duty and registration charges, tax implications, etc.”
Another realty expert, and marketing director of realty advisory Century 21 India, Sanjay Singh, says in case the house is a little old, then it is really advisable for the seller to complete some repair work. “You have to finish this job before you spread the word about your intention to sell it. The repair should include essentially the b at h room, closet and kitchen. A touch-up of painted surfaces would go a long way in improving the looks of your house. Moreover, clean the house and open spaces to give a good impression to the prospective buyer.” href=”http://www.zameenzaidad.com/latest_news.aspx/”>Delhibasedincometaxconsultant, Surinder Gambhir, says the sale formalities of a house are many and vary. Some very important legal and taxation issues are documents to be executed and exchanged, absolving the seller from future tax payments, capital gains-related investments and deposits, accounting of full value received, payment of stamp duty and registration charges as per current laws, etc.
“If you are selling your house to a builder for raising apartments, the agreement involving cost of your site, total cost of the project, the number of apartments you will be given, and the cash you will get, need critical study and drafting so that you receive a satisfactory deal and the wording of the agreement protects your interests,” he Gambhir.
Courtesy:- TOI dt:- 12-09-09
South Delhi-based businessman Kukoo Tiwari has stopped going to areas like New Rajinder Nagar and Patel Nagar as these places evoke childhood memories. He spent some great years in New Rajinder Nagar and also spent his evenings with his school friends in Patel Nagar. New Rajinder Nagar - that was the place where he was born in his ancestral home. It is a different matter that even after selling off his family house and building his own one in Lajpat Nagar, Kukoo visits the old Rajinder Nagar house - in his dreams!
It is no easy matter to sell your own house, and when it is a place with quite a bit of family history and built by your parents or grandparents, it is all the more difficult to dispose it. Sunder Khatri, an eminent lawyer and somebody who deals with property matters, says if we go deep into the matter in the broader perspective of fast changing socio-economic environs, the issue can be very complicated. In the good old days of joint family system, the ancestral house always came to one’s rescue to give shelter - and shelter was that entire people mainly wanted.
The position changed substantially when the younger generations branched out. According to realty experts, there are several factors responsible when a family has no choice but to sell the house. “Increase in cost of plot, leading to securing a handsome price in case of sale of the old house, which can be invested in buying another property in a less costly and less congested locality in the same place or in another town, by using a portion of the sale proceeds, the balance being kept for other exigencies are some of the reasons people sell their homes,” says Sunil Jindal, CEO of SVP group.
Why do people sell their houses? Given the fact that Indians are very attached to their homes emotionally, it is not at all easy to sell the property. Some also says many families sell their homes as they find the possibility of building a multistory apartment/business complex, which fetch them monetary gains.
Khatri cautions that before anyone sells a house, it is important to understand some key points. “You must have full knowledge of the market conditions such as whether the market is generally on an upswing, other deals going on in the area, price at which recent deals have been struck, good and reliable real estate agents in the locality, developers and promoters of good standing and reputation around, regulations governing sale-related matters applicable to the house in question, stamp duty and registration charges, tax implications, etc.”
Another realty expert, and marketing director of realty advisory Century 21 India, Sanjay Singh, says in case the house is a little old, then it is really advisable for the seller to complete some repair work. “You have to finish this job before you spread the word about your intention to sell it. The repair should include essentially the b at h room, closet and kitchen. A touch-up of painted surfaces would go a long way in improving the looks of your house. Moreover, clean the house and open spaces to give a good impression to the prospective buyer.” href=”http://www.zameenzaidad.com/latest_news.aspx/”>Delhibasedincometaxconsultant, Surinder Gambhir, says the sale formalities of a house are many and vary. Some very important legal and taxation issues are documents to be executed and exchanged, absolving the seller from future tax payments, capital gains-related investments and deposits, accounting of full value received, payment of stamp duty and registration charges as per current laws, etc.
“If you are selling your house to a builder for raising apartments, the agreement involving cost of your site, total cost of the project, the number of apartments you will be given, and the cash you will get, need critical study and drafting so that you receive a satisfactory deal and the wording of the agreement protects your interests,” he Gambhir.
Courtesy:- TOI dt:- 12-09-09
Friday, September 11, 2009
BELIEF IN REAL ESTATE
The inability of people to find a house for themselves in the locality or society of their choice is a universal affliction and is faced by people cutting across communities, castes, and social and economic factors, says Namrata Kohli
Bollywood actor Emraan Hashmi recently alleged he was refused a No Objection Certificate (NOC) by a housing society in the posh Bandra area to buy a flat, only because of his religion! The episode has spurred a debate whether religion has any connection to real estate and if housing is a problem for people of one religion, region, belief or sect trying for accommodation in places dominated by people of other religions, regions, sects, and communities.
We checked with a cross-section of society to gauge whether this is a trend prevalent in the National Capital Region as well. According to a Chittaranjan Park-based real estate consultant Harmeet Singh Chawla of Ace Consultants Pvt Ltd, “In my experience, people are denied an accommodation for various reasons - they may be on account of eating habits, language, over marital status (married vs bachelor/ spinster), or even due to their profession. Therefore, to view this purely and only from the point of religion is not correct.” He adds that the Emraan Hashmi issue has captured limelight only because of the celebrity quotient in the story.
Another broker, Sanjay Tyagi of Continental Estates, says in upmarket areas where he transacts like Vasant Vihar, there is absolutely no such concern. In fact, coincidentally, most of the recent transactions he has done are those of Hindu landlords leasing out premises to embassy people who are Muslims with landlords only concerned about timely payment of rent and not religion. However, Tyagi adds, the situation changes in middle class and lower middle class areas, but as one goes up the pyramid towards higher classes, where the community is more literate and educated, biases tend to decrease.
“Very few Hindus will actually lease out a property to a Muslim or Kashmiris in middle class areas.”
It is of course a fact that there are areas in every city where people from one community, region, and linguistic stock prefer to aggregate. “Birds of a feather flock together,” says sociologist Purnima Malhotra. She adds that humans like to have their “comfort” factor and at times people like to live with “their” own ilk - defined on language, community, eating habits. Echoing this Sumit Mishra, a landlord, says, “ It would be a white lie if I said that between a person of my community and someone else, I will not prefer the former.” So, these doings are not so much because of a strong prejudice, but often, more for that comfort factor.
As for Muslims, in every city they aggregate in certain places and avoid certain others. For instance, in Delhi, Muslims largely prefer residing in Old Delhi, Okhla, Tehmur Nagar, Zakir Nagar, Sadar Bazaar, etc. “There is no specific boundary or place demarcated for the Muslim/Christian areas as such and by statute it is not even permissible,” says Kolkata-based real estate consultant Sandip Sen who does hi-end transaction in residential and commercial segment. “However, there are specific places that have had traditional settlements of Muslims and Christian and they prefer staying with their friends and relatives.” He cites the example of Kolkata where Muslims prefer places like Park Circus, Topsia, Rajabazar, Khidirpore. As for Christians, they are concentrated in the places in and around Park Circus, Rippon Street, Theatre Road, and Moulali.
People from these communities have divergent views. A Muslim banker (name withheld) at a leading private bank staying in Delhi says he or his relatives have never faced any problem. “If at all I have not been able to secure a house, it has been because of economic reasons where my pocket has not allowed it, but not because of religion. If I am earning a lakh per month, I can stay at New Friends Colony, just like anyone else.”
Another view was that of Harpreet Kaur who says after the 1984 Sikh riots, Hindus did not give preference to a Sikh tenant. “With time, the matter cooled off and there was hardly any reservation against a Sikh tenant. In times of peace, all is well but the minute there is a crisis situation, these biases resurface and people raise their guard again.” Safroon, working at the front office of a <"http://www.zameen-zaidad.com/">British company at Gurgaon says she never faced any such problem. “In fact, I have never encountered religious bias in housing and I was taken aback by the Hashmi affair.”
Sanjay Kar, a journalist, says there are prejudices in our society and it’s not just minorities, but everybody who face varying hues of prejudice away from their home or community - ranging from a North Indian in Maharashtra to a South Indian in UP/Haryana/Punjab, to the Northeastern girls and boys in Delhi. But so do journalists, lawyers, and single women who are often singled out and denied a tenement by landlords in Delhi. He adds that certain groups also try to keep Bengalis, Christians and other non-vegetarians out. But this problem is not specific to India and we live in a world that is unequal - and there is no level playing field.
Courtesy:- TOI dt:- 05-09-2009
Bollywood actor Emraan Hashmi recently alleged he was refused a No Objection Certificate (NOC) by a housing society in the posh Bandra area to buy a flat, only because of his religion! The episode has spurred a debate whether religion has any connection to real estate and if housing is a problem for people of one religion, region, belief or sect trying for accommodation in places dominated by people of other religions, regions, sects, and communities.
We checked with a cross-section of society to gauge whether this is a trend prevalent in the National Capital Region as well. According to a Chittaranjan Park-based real estate consultant Harmeet Singh Chawla of Ace Consultants Pvt Ltd, “In my experience, people are denied an accommodation for various reasons - they may be on account of eating habits, language, over marital status (married vs bachelor/ spinster), or even due to their profession. Therefore, to view this purely and only from the point of religion is not correct.” He adds that the Emraan Hashmi issue has captured limelight only because of the celebrity quotient in the story.
Another broker, Sanjay Tyagi of Continental Estates, says in upmarket areas where he transacts like Vasant Vihar, there is absolutely no such concern. In fact, coincidentally, most of the recent transactions he has done are those of Hindu landlords leasing out premises to embassy people who are Muslims with landlords only concerned about timely payment of rent and not religion. However, Tyagi adds, the situation changes in middle class and lower middle class areas, but as one goes up the pyramid towards higher classes, where the community is more literate and educated, biases tend to decrease.
“Very few Hindus will actually lease out a property to a Muslim or Kashmiris in middle class areas.”
It is of course a fact that there are areas in every city where people from one community, region, and linguistic stock prefer to aggregate. “Birds of a feather flock together,” says sociologist Purnima Malhotra. She adds that humans like to have their “comfort” factor and at times people like to live with “their” own ilk - defined on language, community, eating habits. Echoing this Sumit Mishra, a landlord, says, “ It would be a white lie if I said that between a person of my community and someone else, I will not prefer the former.” So, these doings are not so much because of a strong prejudice, but often, more for that comfort factor.
As for Muslims, in every city they aggregate in certain places and avoid certain others. For instance, in Delhi, Muslims largely prefer residing in Old Delhi, Okhla, Tehmur Nagar, Zakir Nagar, Sadar Bazaar, etc. “There is no specific boundary or place demarcated for the Muslim/Christian areas as such and by statute it is not even permissible,” says Kolkata-based real estate consultant Sandip Sen who does hi-end transaction in residential and commercial segment. “However, there are specific places that have had traditional settlements of Muslims and Christian and they prefer staying with their friends and relatives.” He cites the example of Kolkata where Muslims prefer places like Park Circus, Topsia, Rajabazar, Khidirpore. As for Christians, they are concentrated in the places in and around Park Circus, Rippon Street, Theatre Road, and Moulali.
People from these communities have divergent views. A Muslim banker (name withheld) at a leading private bank staying in Delhi says he or his relatives have never faced any problem. “If at all I have not been able to secure a house, it has been because of economic reasons where my pocket has not allowed it, but not because of religion. If I am earning a lakh per month, I can stay at New Friends Colony, just like anyone else.”
Another view was that of Harpreet Kaur who says after the 1984 Sikh riots, Hindus did not give preference to a Sikh tenant. “With time, the matter cooled off and there was hardly any reservation against a Sikh tenant. In times of peace, all is well but the minute there is a crisis situation, these biases resurface and people raise their guard again.” Safroon, working at the front office of a <"http://www.zameen-zaidad.com/">British company at Gurgaon says she never faced any such problem. “In fact, I have never encountered religious bias in housing and I was taken aback by the Hashmi affair.”
Sanjay Kar, a journalist, says there are prejudices in our society and it’s not just minorities, but everybody who face varying hues of prejudice away from their home or community - ranging from a North Indian in Maharashtra to a South Indian in UP/Haryana/Punjab, to the Northeastern girls and boys in Delhi. But so do journalists, lawyers, and single women who are often singled out and denied a tenement by landlords in Delhi. He adds that certain groups also try to keep Bengalis, Christians and other non-vegetarians out. But this problem is not specific to India and we live in a world that is unequal - and there is no level playing field.
Courtesy:- TOI dt:- 05-09-2009
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