Chennai Properties - Aparments, Plots, Lands

Fortune Bricks has lot of properties in Chennai around the city also.

For getting all list of chennai properties, visit the below link.

Chennai Properties List

Property Value - Chennai - Mylapore

Mylapore is a hot place in Chennai City. Mylapore is one of the coastal regions in Chennai city and is situated close to the shores of Bay of Bengal. The region is considered as an important cultural and religious centre in the city of Chennai. The Chennai city, constituting the capital of Tamil Nadu state, houses many attractions which include some ancient monuments and worshipping places. Mylapore suburb,a small locality in the southern premises of the famous city is one such place. The locality features some popular worshipping places and a commercial hub of the city.

Mylapore also houses the Santhome Basilica Cathedral. Built on the shores of Bay of Bengal, the cathedral presents the Portuguese building and the legend associated with the place. The place where the cathedral stands is believed to be the burial place of St. Thomas, one of the twelve disciples of Jesus Christ.

Accessibility

* The Santhome High Road that proceeds to the north of Mylapore connects it with the city center. Mylapore is about 6 kms from the city centre. Buses and taxis ply between the mentioned regions.
* Thirumalai Railway Station termintes in the region itself. One can as such access the place by travelling in the train.
* The nearest airport to the place is Chennai Airport. The airport is about 11 kms from the place.

Areas Under Mylapore

* Mandaveli
* Santhome
* Foreshore Estate

To see information about Property Guidence value for Chennai, Mylapore Street wise Click here.

Commercial Space for Sale at Amristar

Property Type : Other Commercial Space for Sell Location : chowk bijli,near r.s.tower,amritsar, , Amristsar Price : 5500000.00 INR Area : 416 Sq-ft No of Detailed Views : 2

Property Description : commercial three storyied building having 416 sq.ft.land area in the heart of city.only one km.from golden temple. Additional Informations : Semi-Furnished, Age of Construction : 6 to 10 years, Ownership : Freehold For getting Sellers information Click here Amenities Features : Water Storage Distance from Key Facilities : Hospital : 1 kms, School : 1 kms, Railway Station : 1 kms, Airport : 15 kms, City Center : 1 kms

Residential Plot Land Space for Sell

Location : Just 14km from Central busstand and Railway Statio, , Chennai Price : 70.00 INR Area : 1200 Sq-ft with 0 Bedrooms No of Detailed Views : 3

For more details click here SRISAI NAGAR Just 14km from Central busstand and Railway Station. 750mtrs from NH45B highway. Just very nearby Cethar vessels industries and Patric School. Saranathan Eng. college, Christuraj college and Sophia dental college are avail on the way to our layout. Just 2kms MM Forgings Company. Red soil is important factor in our layout. Plots available in 1200sqft. Rate Rs70/-

Residential Apartment Space for Sell Visakapatnam

Location : Allipuram, , Visakhapatnam Price : 2400000.00 INR Area : 900 Sq-ft with 2 Bedrooms No of Detailed Views : 2

Property Description : House is as per vaastu. For more details : Click here to see seller information at fortunebricks.net Additional Informations : Furnished, Floor Number 2, Total 4 Floors in the building, Age of Construction : 0 to 5 years, Ownership : Freehold Amenities Features : Lift Distance from Key Facilities : Hospital : 1 kms, School : 1 kms, Railway Station : 2 kms, Airport : 10 kms, City Center : 2 kms

Trading Forum

Buy - Sell Trade forum available on www.fortunebricks.net. It has several products services. Users can easily find out buyers or sellers.

Visit www.fortunebrciks.net - Trading

Residential Space for Sell in Hydrabad

Location : 8-1-284/OU/521/7/9, O.U. Colony, Shaikpet., , Hyderabad

Area : 857.75 Sq-ft with 2 Bedrooms

Property Description :
Building Having G+1 M.C.H. Clear Permission, West 33 Wide Road, North 62 Wide Road. Ground Floor - Half Parking, Half Portion, 1st Floor - 2 Seperate Portions with 2 BHK. With Seperate Water and Electricity Facility. Total Builtup on 180 sq. Yrds.

Additional Informations :
Unfurnished, Floor Number 1, Total 1 Floors in the building,
Age of Construction : New Construction, Ownership : Freehold

Amenities Features :


Distance from Key Facilities :
Hospital : 1 kms, School : 1 kms, Railway Station : 12 kms, Airport : 28 kms, City Center : 13 kms

To see sellers information and photos : http://fortunebricks.net/view_property.php?id=1525

Residential Apartment Space for Sell in Trivandrum

Location : Near Poojappura, Trivandrum, , Thruvananthapuram

Area : 1400 Sq-ft with 3 Bedrooms
Property Description :
ADITHYA MAJESTY A great home Our aim is to provide architect designed luxury and economic apartments at reasonable cost with assured quality and quantity at the capital city- Trivandrum, Kerala. A royal Location Location of our choice that readily caters to the day to day conveniences of modern living. A location that gives you the sense of privacy and pride with natural beauty and greenery. The project site is near Poojappura which is about 2.5 Kms from Thampanoor, having proximity to city centre and important places like, Vazhuthacaud, Vellayambalam, Sasthamangalam, Karamana, Pangode, Pappanamcode, Thirumala, DPI Jn, Palayam etc. The area is under Trivandrum corporation a good and healthiest residential locality and has all amenities for a modern living such as Residential Schools, Central Schools, Colleges, Hospitals, Parks, Markets, Banks, Hotels and other institutions. The site has approach roads from Kunjalummoodu-Thammalam road, Kesavan Nair road, Kesavadev road, Mudavanmugal- Thrivikrama Mangalam – Melamcode temple road. As such an investment in this residential area is a good investment opportunity. This area imparts peaceful and healthy living. An ideal design Architect designed three storied building with luxury & economic flats to suit your taste and choice that incorporate new ideas to explore the most cost effective and efficient construction. Designer building with only six apartments to suit the place and for extra convenience. Assured quality & quantity We assure that only quality components go into the making of your home with expert masons, supervisors, structural/civil engineers and architects so as to ensure high quality and to your satisfaction. Amenities & Specifications  Structures- RCC frame structure with floorings, columns, beams, slabs etc.  Foundations- Raft footing on hand strata  Walls- 8”/6” Block Masonry for external wall and 4” Block masonry for internal wall  Doors- Mail door is of teak wood. All other doors are flush door with fero wood/county wood in country wood frame  Windows- Internal windows with country wood frame, outer windows with iron grills and glass shutters in ms frame  Flooring – Vitrified tiles – 60 cmsX60cms  Bath room- Matt finish ceramic tiles, glazed ceramic tiles dado up to 6ft premium quality closets, wash basins, health forcets, , provision for hot & cold water supply  Kitchen – Granite top counter and stainless steel sink with single drain board, dado up to 45 cms. Kitchen wooden cabinets below the kitchen granite slab.  Bed room – Concrete slab will be provided for over head storage cabinets.]  Wardrobes- Provision will be provide on request  Electricity – Three phase wiring, fan and light points for all rooms, ELCB, MCB, meter box etc will be provided. Modular switches in living & dinning rooms.  Common toilet – One toilet will be provided for servants/drivers etc.

Additional Informations :
Unfurnished, Floor Number 1, Total 3 Floors in the building,
Age of Construction : Under Construction, Ownership : Freehold

Amenities Features :
Power Back Up, Gym, Park, Water Storage, Reserved Parking, Club House, Security, Vaastu Compliant

Distance from Key Facilities :
Hospital : 1 kms, School : 1 kms, Railway Station : 3 kms, Airport : 8 kms, City Center : 3 kms

To see sellers information : http://fortunebricks.net/view_property.php?id=1528

Residential Builder Floor Space for Sell - Kerala

Location : idealrealestate, Kakkanad, Ernakulam
Area : 1275 Sq-ft with 2 Bedrooms
A ready to occupy flat having 1275 sqft is available for sale at edapally. This is a 2 BHK one standing in Abad Olympus with all modern amenities, close proximity to Amrita Medical Institute of Science, 4th floor . ERNAKULAM EDAPPALLY in ABADBUILDING Your dream Flat waiting for you.... 1275 sq.ft attached 2 bed Rooms 4th Floor Calm, peaceful, well connected and not too far from the city... EXCLUSIVE AMENITIES Health club,Steam, Sauna, Mini market Swimming pool Coffee Shop Half Basketball Court Business Center.

Additional Informations :
Floor Number 4, Total 0 Floors in the building,
Age of Construction : New Construction,

Amenities Features :
Power Back Up, Gym, Lift, Park, Water Storage, Reserved Parking, Club House, Security, Swimming Pool, Vaastu Compliant

For Sellers contact : http://fortunebricks.net/view_property.php?id=1530

Fortune Bricks - NRI Services

Fortune Bricks - a Global real estate online website offer services to the NRI's. For more details, visit www.fortunebricks.net
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fortunebricks.net : property maintenance

PROPERTY MAINTANANCE

We take care of your valuable properties in proper procedures. It saves your precious time and makes you tension free from securing and maintaining your properties.

WE CARE FOR,

Pay all types of Taxes
Collect the Rents and Lease Amount
Building Renovation Works like painting, fencing, gardening and all
Manage the Agricultural Lands and do the agri works
Monthly wise you can get details about services given by us
Forward rentals, income to your account
We update all details in our site. Where ever you live, you can view all details at your computer.


We formulated some procedures to do the above activities. For getting this services from our company contact us through email : info@fortunebricks.net. You may register as a individual client and send a separate email with your id and your property details and your expected service details. Then we have to contact us through phone or email to further.

Approved Property Services

Fortune Bricks.net is a global real estate website. It has many features like approved properties, Property maintenance, property valuation, NRI Services, Trading and showroom. Just now i have explain how to offer fortunebricks to the buyers.

Fortune Bricks make your buying experience great. We make sure that your buying of the property is riskless and safe thru us. In all cases, we ensure by verifying. You can view property photos, video, locations of property, map of the property through your computer. If you would like to purchase this property, you can simply send a message to us. That’s all. All details will come to your doorstep. Once you are satisfied, we can arrange registration and other works as per our norms. We verify the below details of any properties

Whether all documents are original Whether all details are perfect Whether taxes were paid Encumbrance certificate Whether land/plot is approved Available facilities like Power,Water etc., Taxes paid details Hierarchy for the property owners Persons who are having rights for the particular property Legal opinion from Lawyers Property values in future report

After verifying all the above, We will get the proper approval from the Seller, to represent them, for price negotiation and for receiving payment from the Buyer. Finally we upload the particular property in Fortuebricks.net. The buyers have to register with us ( with their profile) to purchase the APPROVED PROPERTIES. We also work for the Buyers. for their particular requirements ( other than which were taken part in APPROVED PROPERTIES) in the same way. To avail this service, Property owners may contact us through email : info@fortunebricks.net To purchase Approved properties , buyers may contact us through email with property id. Email : info@fortunebricks.net

Advantages of this Service

Seller : 1. Your property submit all over world 2. You can get good price. 3. You property sell in time 4. Your details hidden and buyer’s only known if they meet your target price

Construction tips

* Ferro Cement walls are fire resistant.
* It can also resist termites.
* Ferro Cement walls are weather proof, but a coating of quality paint can make it durable.
* Cracks in cement walls can be sealed with a coating of watery cement solution after wetting the surface.
* Reinforcement should be designed for the load and moment required.

Thanks to Hindu

Construction industry picks up pace

It looks that sunny days are here again for the construction industry as trade has started slowly picking up pace in Tirupur knitwear cluster and cash gradually flowing into the hands of entrepreneurs in apparel and ancillary sectors after a brief period of lull in industrial activities owing to recession.
Individual houses
According to K. Shanmugaraj, General Council member, Builders Association of India, demands for individual residences have started showing an upward trend from the beginning of this financial year.
“Cut in lending rates by recognised financial institutions has also acted as a catalyst to make people come out yet again to invest in properties unlike about four months ago when there was severe shortage of cash reserves among population,” he added.
The lowering of interest rates on bank loans, according to him, has even changed the consumer spending habits and prompted even the industry people to go for infrastructure expansion in their respective units.
With the cascading effect of economic recession yet to completely move away from the cluster, experts feel that negotiation of rates will play a great role in fetching good prices from sellers and buyers points of view while trading properties in and around Tirupur city.
“The better you are at bargaining, the more money you are going to make or save,” Mr. Shanmugaraj pointed out.
Industry sources cautions that while negotiating for better prices, one should be realistic with what he/she has been asking for. “This will avoid losing opportunities to get attractive selling or buying prices,” sources added.
M. Nataraj, promoter, Sree Balaji Constructions, tells that the time is now ripe for investment as the property development rates which nosedived about six months ago are yet to go high.
“Presently, construction rate of individual houses hovers still at an attractive Rs. 1,750 per sq ft as against Rs. 2,500 sq ft a few months ago,” he said.
Thanks to : Hindu

Buyers Pressurize Govt for Price Cut

The economic slowdown has compelled people to pressurize government to bring down the real estate prices. Around 225 Mumbaikars who have booked 2-BHK flats in a residential scheme named ‘Celebration’ by the City and Industrial Development Corporation (CIDCO) threatens to withdraw from the project in case of non-fulfillment of their demand. These people demand to reduce the rates by 35-45% and it is viewed as the first such mass move in the entire Mumbai region that put pressure on the government to bring down the real estate prices. As a result if CIDCO administration slashes the rates, many other private developers in the region would also revise down their rate. This will thereby benefit the consumers who are looking forward to buy a house.

Under the Celebration scheme, there are a total 532 2-BHK flats and 465 1-BHK flats for which the construction work is under process. People have booked the flats at Rs 3,450 per sq ft but they want these rates to come down to Rs 2,245 per sq ft. An association of 220 buyers who appealed to the CIDCO officials said, “Due to the global economic downturn, the real estate market prices have come down by 35-40% as GDP has fallen from 9% to 5.3%. Similarly, the cost of construction material like cement and steel has come down with city developers slashing property rates by 35-40%.” Meanwhile N C Upase, who has booked a 2-BHK flat, said: “Recently in our meeting at Dhruv hall in Dadar, we decided to withdraw our bookings as the last resort if the CIDCO pays no heed to our demands.”

The buyers association also said that CIDCO had finalized the rates when the market rates were high. “Though we are categorised as higher income group, we would like to express that the economy has hit us hard and are now feeling the cost of the house as an enormous burden,” said the buyers-under the banner of Celebration Action Committee. Further Upase said that even the finance ministry had appealed to the developers to cut the real estate prices in order to boost up the economy. So CIDCO is expected to follow the same, he said. However joint MD of CIDCO, Dilip Jadhav said that the reduction was not possible at the moment. “With the help of financial consultants and economists, we will have to scientifically evaluate the pricing policy for the scheme and only then can the CIDCO board decide on the matter,” he added. If the buyers withdraw from the project then the first installment of Rs 4.5 lakh paid would be forfeited.

News Courtesy : Indianrealitynews

NRIs - Ray of Hope For Realtors

Realtors in Mohali district have seen a ray of hope among NRIs to keep their business going during the global slowdown. While the local buyers are hesitating from buying houses coming up in large number in the district, it is the interest of NRIs from Canada, US, England and middle-east countries that has given a new lease of life to real estate sector. With thousands of NRIs inquiring about the availability of houses, flats and villas, real estate sector has all of a sudden got fresh lease of life that otherwise was witnessing a low business for the last four-five months. A visit to Zirakpur and surrounding areas revealed that number of inquiries from NRIs for housing properties in Mohali have gone beyond 3,000 during last few months.

Such is the response that one of the real estate development Royal Estate has already decided to come up with a NRI tower in Zirakpur due to rising demand for houses from NRIs. Krishan Goyal, managing director, Royal Estate Zirakpur, said during last two months he had received over 500 inquiries from NRIs and had already sold 4-5 flats to them. ??We have now decided to come up with NRI tower at Royal Estate as demand is great,?? he added. Satish Jindal, managing director, Maya Garden Zirakpur, too is smiling with the expectation of good business ahead as after receiving over 600 inquiries for houses during last two months, he has sold 6-7 flats to them. Response from NRIs is amazing and it shows that good days for real estate sector are lying ahead, he added.

Many of the builders attribute the sudden interest among NRIs for houses in Zirakpur and surrounding areas to the fact that from June onwards international flights are scheduled to take off from upcoming international airport. Interestingly, while Indians residing abroad are showing great interest in buying property in Mohali district, domestic buyers are not coming forward to buy while inquiries in hundreds are being received. Realtors are expecting market to improve on local front also. Subash Chand, partner, Swastic Vihar Zirakpur, said that while there was good response from the NRIs, local buyers are waiting for the property prices to be slashed further. They expect good business from April 1 onwards, as service tax would be completely withdrawn and interest rates are expected to be lowered further. Vijay Arora, president, Peermuchalla Builders Association, said that around 100 inquiries are coming on a single day while sales are not picking up. All expectations are resting on new financial year. With NRIs buying property it seems that market would improve further he added.

Courtesy : nrirealtynews

DUTY & FEES

TABLE OF FEES PREPARED UNDER SECTION 78 OF THE REGISTRATION ACT 1908.

1(a) Registration of documents in Books 1 and 4 Rs.P.

1. When the value does not exceed Rs. 200 .. 2.00
2. When the value exceed Rs.200; but not exceed Rs.300 .. 3.00
3. When the value exceed Rs.300; but not exceed Rs.400 .. 4.00
4. When the value exceed Rs.400; but not exceed Rs.500 .. 5.00
5. When the value exceed Rs.500; but not exceed Rs.600 .. 6.00
6. When the value exceed Rs.600; but not exceed Rs.700 .. 7.00
7. When the value exceed Rs.700; but not exceed Rs.800 .. 8.00
8. When the value exceed Rs.900; but not exceed Rs.900 .. 9.00
9. When the value exceed Rs.900; but not exceed Rs.1000..10.00
10. When the value exceed Rs.1000; for the first Rs.1000..10.00
as under sub clause (9) and for every Rs. 500 or part thereof in excess of Rs.1000 .. 5.00
11. (i) For registration of Powers of Attorney given for consideration authorising Attorney to sell the immovable property the Registration fee shall be levied on the consideration mentioned therein.

(ii) For registration of other Powers of Attorney ... ..50.00

Note:- In the Kanyakumari district and the Shencottah taluk ofTirunelveli district, no fee shall be charged for the registration of sale certificates in the case of lands bought in by Government or Sripanderaveka or Kandukrish or Sreepadam Department under the provisions of the Revenue Recovery Act.

(b) Unless it is specifically provided in various articles mentioned below, the consideration expressed in a document shall generally be taken to be its value for determining the registration fees. Where no consideration is expressed, value of the property dealt with shall be taken. In the case of conveyance, exchange, gift or release, the registration fee shall levied on the value or amount on which stamp duty under the Indian Stamp Act, 1899 (Central Act II of 1899) is payable:

Provided that in the case of deeds of conveyance, exchange or gift exempted from payment of stamp duty, the registration fee shall be levied on the value or consideration mentioned in such documents:

Provided further that in the case of document, the value for the purpose of levying registration fee shall be on the reduced value for which stamp duty is payable by virtue of the notification issued u/s 9 of the Indian Stamp Act 1899,(Central Act II of 1899)

(c) The provisions of sections 5,6,20,21,23 and 25 of the Indian Stamp Act II of 1899 shall Mutadis Mutandis, apply to calculation of value for the purpose of determining the registration fee.

(d) In the case of agreements to render service for hire or to let movable property for hire, the value of the document shall not be taken at a higher amount than the hire for one year.

(e) In the case of leases, the value shall be taken-

(1) at the total rent for the whole term when the lease is for one year or less;

(2) at the average annual rent when the lease is for periods exceeding one year;

(3) at one-fifth of the whole amount of rents payable for the first fifty years when the lease is perpetual. When a fine or premium is paid or is made payable or money is advanced, that amount also should be added to the value. When lessee undertakes to pay assessment, quit-rent, etc., in addition to the rent the said payment should also be added to the rental value. If the rent is payable in kind and its
money value is not specified in the lease,. its value shall be taken to be the highest amount which the stamp borne by the document shall suffice to cover. If the document is exempt from stamp duty, the money value of the produce rent shall be calculated at the current market rates; and

(4) In the case of Kanom deed, fee shall be levied on the total consideration viz., the aggregate of the amount consisting of the advance the premium or the present called "Manusham" in North Malabar and "Avakasam" in South Malabar, the annual rent reserved and the ascertained amount of
compensation, if any, for improvements.

(f) In the case of deeds of partition, the value of the separated share or shares on which the stamp duty is payable shall be taken as the value for consideration.

(g) In the case of a document in which the transaction is not susceptible of money valuation, the fee leviable shall be Rs.100/-

Note:- In the case of documents evidencing petty transactions, incapable of valuation, the Inspector General may, if he considers that the levy of fee of Rs.100/- would be productive of hardship, authorize registering officers, to levy a lower fee, which however shall not be less than Rs.10/-.

(h) The registration fee leviable upon a document purporting to give a collateral or auxiliary or additional or substituted security or security by way of further assurance, where the principal or primary mortgage is proved to the satisfaction of the registering officer to have been duly registered shall be the same as for the principal or primary mortgage if the same does not exceed Rs.10/-; otherwise it
shall be Rs.10/-.

(i) The registration fee leviable upon document acknowledging receipt of payment of consideration on account of any previously registered document and upon any receipt acknowledging payment of a debt or rent due under the previously registered document shall be ad valorem as prescribed in Article 1(a) subject to a maximum of Rs.20/-

(j) When a duplicate or counterpart of a document is presented for registration on the same day as the original documents registration fee for such duplicate or counterpart shall, if the original document be also registered, be-

* for each duplicate a fixed fee of rupees Rs.20/-
* for the counterpart, the rate prescribed for certified copies;

Provided that if the rate of Rs.20/- or the copying fee is higher than the ordinary fee for registration, the latter shall be charged.

l) The registration fee leviable on an agreement to sell or resell shall be on the advance or earnest money. If no advance or earnest money is mentioned, the fee leviable shall be on the intended sale or the resale amount, as the case may be:

Provided that in the case of an agreement to sell where possession is handed over or is to be handed over, the fee leviable shall be on the intended sale consideration.

(m) The Registration fee on a document purporting to rectify an error which by itself creates, transfers, limits, extends, extinguishes or records right, shall be leviable on the value or amount on which stamp duty under the Indian Stamp Act, 1899, (Central Act II of 1899) is chargeable on the instrument of rectification. Provided that in the case of documents which do not fall within the definition of sub-section (14) of section 2 of the Indian Stamp Act 1899 (Central Act II of 1899), the fee shall
be leviable on the value of amount o f the original document at advalorem rates prescribed in Article 1(a), subject to a maximum of Rs.10/-

(n) The Registration fee leviable for a supplemental or ratification deed falling under Section 4 of the Indian Stamp Act 1899 (Central Act II of 1899) shall be the same as the fee leviable on the value of the original document at advalorem rates prescribed in Article (1)(a) subject to a maximum of Rs.10/-

(o) The Registration fee for a deed of cancellation or revocation shall be that leviable on the original document, subject to a maximum of Rs.50/-

Provided that in the case of cancellation or revocation of deeds of agreement to sell which involves handing over of the possession of the property, the fee shall be leviable on the consideration (intended sale amount) as expressed in the original deed of agreement to sell.

(p) Transfer of leases or surrender of leases shall be assessed to registration fee on the amount of consideration including the value of improvement, if any, set forth in such documents when no consideration or value of improvements, expressed, the fee chargeable on the original lease shall be
realised.

(q) In the case of dissolution of a partnership, the value of the net assets of the partnership on the date of dissolution shall be taken as the value for registration purpose.

Note: "Value" means the value set forth in the document.

(r) In an agreement regarding their use of wall or well or pathway as the case may be the registration fee shall be levied on the value of the ;property set forth in the document.

(s) The full fee shall be levied for the registration of a document which is effected under section 24 of the Registration Act.

When it is directed on appeal that a document which has been registered as regards some of the executants and refused registration as regards others shall be registered also as regards the latter, a second registration fee shall be levied when the document is presented again for registration but
copying fee at the rate prescribed in clause (1) of Article 14 of the table of fees for the portion to be copied by the Department shall be levied.

Note: If the copying fee calculated or arrived at falls fraction of a rupee, it shall be rounded off to the nearest rupee.

2. Filing a translation (Section 19)-

An extra fee of .... Rs. 10.00

3. (1) Registration by a District Registrar under section 30(1) unless the document is registered in consequence of the Sub-Registrar being a party interested in the transaction to which such document relates -

Extra Fee of .... Rs. 50.00

(2) Registration by the Registrar of Chennai under Section 30(2)-Extra fee of Rs.100.00

Note:- no additional extra fee shall be levied under Clauses (1) and (2) for the registration of a counterpart or a duplicate of a document in respect of which the extra fee has been paid if such counterpart or duplicate is presented for Registration on the same day as the original document, when
the original document is also registered.

4. Copies and memoranda under Section 64 to 67-

1) for each memorandum required .. .. Rs.10.00

2) for forwarding each copy of a document under Section 65,66 and 67 .. .. Rs.10.00

5. Registration of Will and authorities to adopt (Book 3)-

1) Opening a sealed cover and entering the contents in the Register .. Rs.50.00

2) Will or authority to adopt presented open Rs.500.00

Provided that in the case of Wills in which the value of the property dealt with is mentioned and that value does not exceed Rs.50,000/- the registration fee shall be as per ad valorem scale in Article 1(a).

Provided further that in the case of duplicates of Will or authority to adopt presented open along with the original document, registration fee for each duplicate is Rs.10 or the ordinary fee for registration for such original documents whichever is less.

6. Sealed cover (Book V) -

1) Deposit of a sealed cover purporting to contain a will... Rs.200.00

2) Withdrawal of any such sealed cover .. Rs.50.00

7. Attesting Powers-of-Attorney--

1) Special power .. .. .. Rs.20.00

2) General power .. .. .. Rs.20.00

Note:- 1) A single fee shall be levied for the attestation of a Power-of-Attorney whatever may be the number of signatories to it, provided that all of them appear simultaneously for examination. Where they do not so appear a separate fee shall be levied for each set of persons appearing at the same time.

2) The duplicate or the triplicate of a Power-of-Attorney presented for authentication shall be treated as a separate power and a separate attestation fee levied thereon.

8. Issue of commission or attendance at a private residence or jail-

1) For every attendance at a private residence-

a) for registration of one or more documents executed by one and the same individual, or

b) for the acceptance for registration of one or more documents executed in favour of one
and the same individual, or for the acceptance for deposit of a Will executed by an
individual, or

c) for the attestation of one or more Power-of-Attorney executed by one and the same
individual, or

d) for the examination of one and the same individual under Section 33 or 38, there shall
be paid, besides travelling allowance, an extra fee of Rs.200/-

2) For attendance at a jail -

a) for registration of one or more documents executed by a person confined in a jail, or

b) for acceptance of one or more documents executed in his favour or for acceptance for
deposit of a Will executed by him, or

c) for attestation of one or more Powers-of-Attorney executed by such person, or

d) for examination of such person under Section 33 or 38, the fee to be paid, besides
travelling allowance, shall be Rs.25/-.

3) For the service of a female, if required, a further fee of Rs.10/- shall be paid;

Provided that where two or more persons who are parties to the same document and who are entitled to exemption from attending the registration office reside together, or when two or more persons who are parties to the same document are confined in a jail, only one attendance or commission fee
shall be charged so far as those persons are concerned. In the event each such person shall be entitled to present for registration or attestation at such attendance any number of documents are Power-of-Attorney or to admit execution of any number of documents presented for registration, or to deposit a Will without payment of any further attendance fee.

Note:- A Registrar may, in his discretion, remit the fees under (1) (2) and (3) when it appears to him that their exaction would be productive of hardship or if he is satisfied on enquiry, that any particular case is one of poverty combined with real purdanashin gosha.

9. No fee shall be levied for the safe custody of any document or a Power-of-Attorney which remains unclaimed for ten days after registration of the document is effected or refused or after the Power-of-Attorney is attested and for every subsequent ten days or part thereof after such first
period calculated from the date on which the document or Power-of-Attorney, as the case may be, is ready for delivery a fee of Rs.1 (Rupee one only) shall be levied provided that the maximum fee leviable under this article shall not exceed Rs.10 (Rupees ten only)

Note:- A Registrar is empowered in his discretion to remit, in whole or in part, fees leviable under this article by himself or by Registering Officers subordinate to him in cases in which it appears to him that their exaction would be productive of injustice or hardship.

10. The fees for serving summons issued and for the remuneration of executants and witnesses summoned under Section 36 of the Indian Registration Act, 1908, shall be regulated according to the scale prescribed for Small Causes Suits, in Chapter I of the Part II and in sub-rule (3) of Rule
50 in Chapter II of Part I, respectively in the Civil Rules of Practice and Circular Orders, Volume I. The fees for processes issued by Registrars under Section 75 shall be levied according to the scale in force in the Principal Court of Original Civil Jurisdiction.

11. (1) For proceeding to and returning from a private residence or a jail, a Registering Officer may levy
actual travelling expenses, for himself, as well as a peon when the latter accompanies him.

(2) For journeys by railway, such actual travelling expenses shall not exceed the fare of
the class to which the Registering Officer is entitled under the Madras Travelling
Allowance Rules and in the case of a peon the fare of the lower class.

(3) For journeys by road, actual travelling expenses shall be subject to the
undermentioned minimum and maximum:-

OFFICER Minimum Maximum rate Payable per kilometre

Rs.P. Rs.P.

District Registrar 3.00 1.00

Sub-Registrar 2.00 0.60

(4) Besides the actual travelling expenses levied under clause (1) (2) or (3) above, a fixed
fee of Rs25 (Rupees twenty five only) in the case of District Registrar, Rs.15/-
(Rupees fifteen only) in the case of Sub-Registrar and Rs.5 (Rupees five only) for the
peon accompanying them shall also be levied for every attendance at a private
residence or jail.

(5) No travelling allowance shall be levied when the Registering Officer performs the
journey in respect of the whole distance in a conveyance provided by the party.

(6) When a Registering Officer attends at the same time at two or more residences in
the same village, the amount of travelling allowance to be levied from all the
applicants shall be as for a single journey as shall be recovered in equal shares from
the several applicants.

12. Any person deputed by a Registrar or Sub-Registrar to make an examination at a private residence shall be allowed travelling allowance at the rate of 20 Paise a Kilometre.

13. (1) Search for or inspection of a single entry or document -

a) For the first year in the books of which search is made, for each entry or document
Rs.10.00

b)For every other year in the books of which search is continued, for each entry or document Rs.5.00

(2) General search for or inspection of any number of entries or documents relating to one and the same property, or executed by or in favour of one and the same individual-For the first year in the books of which search is made Rs.15.00.

For every other year in the books of which search is continued Rs. 5.00.

Provided (1) that a fixed fee of Rs.2 only shall be charged without reference to the number if years in the books of which search is made, when a general search is made on the application of a public officer with the view to granting an encumbrance certificate (a) in respect of property offered as
security by a public servant for the due performance of his duties, and (b) to test the property qualification required of an extra-departmental Postmaster, whether at the time of his appointment or subsequently, and (c) that when a general search is made on the application of a person for the grant of a certificate in connection with the grant of an agricultural loan under the provisions of the Takkavi Manual in respect of lands situated within the jurisdiction of a village panchayat, the rate of fees to be charged shall be as follows:

General Search for or inspection of any number of entries or documents relating to one and the same property or executed by or in favour of one and the same individual: For the first year in the books
of which search is made Rs.15.00.

For every other year in the books of which search is continued Rs. 5.00.

Note:- Fees at the confessional rates in this Sub-clause shall be leviable only if the application is forwarded by the Public Officer concerned to the Registering Officer with an endorsement stating that the application is made for obtaining an agricultural loan under the provisions of the Takkavi
Manual.

(2) (a) That when a general search is made on the application of a public officer no fee shall be charged in respect of encumbrance certificate granted in connection with the grant of loans under the Agricultural Loans Act, 1884 (XII of 1884) as amended by the Madras Act XVI of 1935 for the
relief of indebtedness, under the Madras Cottage Industries Loans and Subsidy Rules, 1948.

(b) That in the Kanyakumari District and the Shencottah Taluk of Tirnulveli District, no fee shall be
charged when a search is made with a view to grant encumbrance certificate for purposes connected with loan under the Land Improvements Loans Act or for purpose connected with investment under the Workmen's Compensation Act or on the application on behalf of the Sripadam.

Note:- (1) For the purposes of Clause 2 of Article 13, the determination of one and the same property, shall be with reference to the ownership at the time of the application for the certificate of encumbrance but the following may, in each case, be treated as one and the same property.

(i) A single survey field or a house owned by more than one person;

(ii) Lands used for wet and dry cultivation situated in the same village and owned by one person or jointly by two or more persons; whether the parcels are contiguous to one another or not;

(iii) a field or a garden and the house situated in it ; and

(iv) buildings or houses described as being situated within the same four boundaries and forming together one property.

(2) Every application for the continuance of a search made after one week from the date of completion of that search will be treated as a fresh application and the higher fees of Rs.5 and 7 respectively, will be charged for the first year in the books of which the search is desired to be continued.

(3) Every application for the grant of a certified copy, unless made at the time of registration of a document, shall be considered as an application for search and charged accordingly, provided however, that a second search fee shall not be levied for granting copies of entries found in the
course of a single or general search for which proper search fees had been levied, if the applicant mentions in the application the number and year of the entry, the names of parties, and the nature of the document.

(3-A) Notwithstanding anything contained in sub-clause (ii) of clause (1) of the note, in the case of applications for encumbrance certificates made by Primary Co-operative Land Mortgage Banks or sponsored by the Extension Officers (Co-operation)on behalf of such banks in connection with the grant of loans for the sinking of wells and installation of pumpsets, lands owned by one person or jointly by two or more persons whether the parcels be contiguous to one another or not, lying in more than one village shall be treated as 'one and the same property', if such villages are within the same
registration sub-district.

(4) The Inspector-General of Registration may, in his discretion, remit in part the fee leviable under this article when it appears to him that the exaction of full fee would be productive of hardship.

14. Making or granting copies of reasons, entries or documents for the benefit of any person-

(a) When such copies are made by copying machine -

(i) for a copy of a page containing words 300 .. Rs.2.00 per page subject to minimum of Rs.5/-

(ii) for a copy of a page containing words 500 .. Re.0.40 per page subject to minimum of Rs.5/-

(b) In other cases for every 100 words or part thereof Rs.1.00

Note:- In reckoning the number of words, every figure, initial or abbreviation shall count as a word.

(c) For granting of a copy of the map forming part of a registered document without the
help of a Draughtsman or Surveyor by the Registering Officer Rs. 3.00.

(d) For granting a copy of the map forming part of a registered document with the help of
a private Draughtsman or Surveyor.

(i) if the measurement of the map does not exceed 60 cm x 50 cm ..
Rs.5.00/-

(ii) If the measurement of the map exceeds 60 cm x 50 cm ... Rs.10.00

(iii) For certifying the copy of the map prepared either by the Registering
Officer or by a private Draughtsman or Surveyor. Rs. 2.00.

Note:- Government Officers who may require to search the registers and to take copies of entries for bona fide public purposes shall be permitted to do so without payment of any fee.

(3) in the case of copies of maps or plans, a reasonable fee to be specially fixed by the registering officer:

(a) Provided that when there is present in the registration office a clerk conversant with a
vernacular language referred to in clause (2) of this rule, the charge for copies of
documents in such vernacular language shall be the same as that prescribed by
clause I;

(b) Provided also that in calculating the charge to be made for copies of entries of
documents at the rates prescribed, it shall not be necessary unless, the applicant
challenges the accuracy of the charge made, actually to count the number of words
in such entries or document but the charge may be made on reasonable estimate
framed by the registering officer of the number of words which the entries or
documents are considered to contain.

Note: Government officers who may require to search the register to take copies of entries for bonafide public purpose shall be permitted to do so without payment of any fee. In the Kanyakumari district and Shencottah taluk of Tirunelveli district, Sreepadam officers who may also require to search the registers or to take copies for bonafide Sreepadam purposes shall be permitted to so without payment of any fee.

(4) Where an applicant presents a printed or typed copy of a document already registered and applies for a certified copy of the same, only the portion added in manuscript in the certified copy shall be charged for at the ordinary rates for copying, and, in addition, a fixed fee of 50 paise shall be levied for comparing and certifying each copy.

(5) That no such copying fees shall be charged in respect of an application applied for by the investigating officers of the Directorate of Vigilance and Anti Corruption, Kerala.

15. In addition to the fees payable under Articles 13 and

14 a fixed fee of Rupee one shall be charged in respect of every application made to Registering Officer for an inspection, a search or a copy or extract of any document on record in a Registration Office.

16. A fixed fee of Rs.100 shall be levied-

(a) for the presentation of each Appeal under Sec. 72 on application under Sec. 73
against the orders of a Sub-Registrar refusing to register a document;

(b) for an enquiry under Sec.74;

(c) for an enquiry by a Sub-Registrar invested with the powers of a Registrar under the
second provision to Sub-section (3) of Sec. 35 in respect of documents, the
execution of which is denied;

(d) for an enquiry under Rules 58 of the rules made under [Athe Indian Registration Act,
1908; and

(e) for an enquiry under Rule 69 of the rules made under the said Act.

17.(1) A fixed fee of Rupees Ten shall be levied in respect of the following: -

(a) for each application made to a Sub-Registrar under Section 25(2) and 34(4);

(b) for each application made to a Registering Officer under Section 36 for enforcing the appearance of executants and witnesses;

(c) for filing a translation of Power-of-Attorney produced by an agent with or in connection with a document presented for registration when a Power-of-Attorney is written in a language not commonly used in the District-Rule 15(ii);

(d) for filing special Power-of-Attorney produced with or in connection with a document presented for registration-Rules 46(i) and (iii);

(e) for each notice of revocation of a Power-of-Attorney given to a Registering Officer and for each intimation of the same sent to such other Officers as may be specified by the person revoking the power-Rule 52(ii)(b);

(f) for each application for the return of a Will registered or refused to be registered and transmitted to the Registrar's Office for safe custody-Rule 75(ii);

(g) for each petition presented to a Registering Officer objecting to the return of a document to a person in whose favour the receipt has been drawn up-Rule 106;

(h) for each application claiming remission or refund of -

(i) the fine levied under Sections 25(1) and 34(1); or

(ii) fees levied in connection with the registration of a document, the search for grant of copies or Encumbrance Certificate or attendance at the private residence or Jail;

Provided that the fee shall be levied in the cases referred to above only when the amount to be refunded or remitted exceeds Rs.5.00.

Note:- In the case referred to in items (c) and (d) above, the levy of fee should be restricted to cases in which the Power-of-Attorney has not been registered or attested by a Registering Officer.

(2) A fixed fee of Rupees Twenty shall be levied -

(a) for each petition presented to a Registering Officer protesting against the registration of a document.

Note:- No fees shall be levied on petitions from Secretaries of District Sailors'. Soldiers, and Airmen's Boards contesting alleged illegal sales of Soldiers' lands.

Provided that in cases falling under clause

(a) if protest is made against the registration of more than one document the fee payable for the petition shall be calculated at the rate of Rs.2/- for each of such docts specified in the petition if the number of documents specified in the petition and if the number of documents is not specified in the petition a fee of Rs.10. shall be levied for the petition

(b) for each petition presented to a Registering Officer -

(i) for withdrawing a document from registration;

(ii) for complete or partial refusal to register a document; and

(iii) for keeping a document pending either for appearance or parties executing it or for
compliance by the parties to document any of the requirements of the law for the
time being in force.

(3) (a) A fixed fee of Rs.200 shall be levied for each application presented to a Registering Officer to accept a document for registration at his office on a Holiday on the ground of special urgency-Rule 4.

(b) A fixed fee of Rs.200 shall be levied for each application presented to a Registering Officer to accept a sealed cover purporting to contain a Will for deposit under Section 42 on an authorised Holiday on the ground of special emergency-Rule 4.

(c) A fixed fee of Rs.200 shall be levied for each application presented to a Registering Officer to accept a Power-of-Attorney for attestation only or for attestation and registration at his office on a holiday on the ground of special emergency-Rule 4.

Courtesy : tnreginet.in

Foreign Investors Eyeing Badly Hit Small and Mid Size Indian Developers

Foreign private equity investors are eyeing the Indian real estate market to buy properties from small and mid size developers badly hit by the economic downturn. A clutch of big investors from the EU and Middle East are expected to invest $400-500 million in distressed land deals. These include Spain’s Nova Capital; Germany’s SachsenFonds, Qatar based Barwa International and Al Aqueela, UK’s Matrix Partners and Aberdean International. “In the next six months, we will see lot of distressed real estate deals in India. Small and medium developers with turnovers in the range of Rs 50 crore-Rs 250 crore will be forced to go for distress sales to sustain themselves in the economic downturn,” said YEN Management Consultants managing director, Sunil Shirole, who has been approached by such developers.

Small and medium size developers across the nation are said to be stuck with 5-6 projects on average as demand has been sluggish. They plan to sell 40 per cent of the existing projects at a discount of 25-40 per cent of the original price to fund rest of their projects. Shirole said, “We could see 50 per cent of total real estate market coming under distressed deals. As foreign PE players have the liquidity and staying power, after buying such properties, they can wait 4-5 years or till such time the property market rebounds to sell them at higher price.” However, the outcome of general election can play spoilsport. “A stable government is a prerequisite to these foreign investors. If there are frequent changes at the Centre, they might turn their back for another five years,” cautioned Arun Goel, CEO, DHFL Venture Capital India.

Courtesy : nrirealtynews.com

Safety in Architecture & Interiors

Safety is a prime concern for any home or office. A lot of accidents occur everyday in lack of safety. Proper safety measures should have been taken to avoid these fatal accidents. Here are some home safety tips that you can use to make your home safe.

Safety Tips for Kitchen
• Keep papers, plastic bags, curtains and dishtowels at least three feet away from range top.
• Put matchbox and lighters in locked cabinet
• Clean chimneys, fireplaces and central ovens periodically.
• Store harmful cleaning products in locked cabinets and keep them away from children’s reach.
• Install smoke alarms in kitchen but never install it near windows and doors as it will create problem during functioning.
• Never pour poisonous material in drinking glasses and in food containers.
• Never place any hot objects on towels, napkins or tablecloths.
• Never leave knives or any sharp objects in a sink as they create injury while washing utensils. Put knife in knife guards or a butcher block.
• Always put cooking utensil in the center of stove while cooking.
• Take care while working in the kitchen that no oily or other material is dropped on stove or oven as sometimes cooking material flows out which sticks to the oven or stove and catches fire.
• Clean stove, oven or any cooking objects before starting cooking. Keep kitchen utensils clean as well.
• Make sure that the cords of appliances are not hung over kitchen counters and the cords are wrapped or coiled so that it doesn’t harm any one.
• Always keep fire extinguisher in kitchen.
Safety Tips for Bathroom
• Never leave child in bathtub alone.
• Keep shampoos, lotions and soap dish away from the Children’s reach.
• Keep electrical appliances wrapped.
• Put non-slip strips in the bath tub or shower place.
• Make use of lights in the night in bathroom.
• Place non-skid bathroom mats to avoid injury.
• Install grib bars or rails in bathroom as they help in standing from bath tub.
• Keep heaters, electrical products away from bathtubs, shower place and sinks.
• Set up water heaters at a degree of 120.
• Install sink with cabinet in bathroom as it is used to store floor cleaner, drain openers under the sink.
Safety Tips for Bedroom
• Never smoke in bedroom.
• Keep clothes, curtains, bed sheets at least three feet away from room heater. Especially fire occurs in winter season because of much use of heating appliances and lighting.
• Use safe light bulb wattage for each fixture.
• Use mattress with open flame resistant protection in bedroom for the safety because these mattresses have 30 minutes ignition power to control fire.
• Never put extension cords under carpet or rugs as it causes short- circuit.
• Never place sharp edges furniture in bedroom. Always place round edges furniture.
• Place smoke alarms in your bedroom.
Safety Tips for Living Room
• Use Safety-proof plugs to cover electrical outlet in your home. Keep living room clutter free to avoid falls.
• Place furniture of round edges instead of sharp edges.
• Cover fireplace with metal fire frame.
• Never place lighting fixtures near curtains, clothes etc.
• Switch off light when not in use.
• Make proper arrangement for ventilation.
• Don’t place furniture near window in kid’s room.
• Keep heavy, small and breakable things away from children’s reach.
• Never use halogen lamps in kid’s room for study as it creates danger of fire.
• Keep curtains, clothes, paper stuff three feet away from light to avoid fire
• Never place sharp edges furniture as it can be harmful to kids. Always place round edges furniture.
safety Tips for Stairs
• Keep stairs clean and should not be wet.
• Make proper arrangement of lights on or around stairs to avoid fall.
• Use hand rails to move up and down the stairs. It is better to have railing on both the sides of stairs.
Install gate at the top or bottom of the stairs.

Ravipugaliya - Author is an Interior designer and Contractor
Thanks to Author
Courtesy : Realestatetimes.in

Chinese Real Estate Agencies hit by Slowdown

Recently property transactions were down in Beijing, but the worst may have not come yet. Property agencies and brokers in China are the worst hit during this housing downturn as most of real estate developers sell apartments through agents. Hundreds of property agencies were closed in Beijing in last few months as real estate developers in China are also facing a liquidity crisis amid the housing slump and have to suspend some projects and cut jobs. Real Estate Agents are cautious about changing their jobs amid the impending global recession including in real estate industry.

This downturn comes as the growth of China's exports has slowed and stock markets have plunged. These events has resulted in what economists describe as a deceleration in growth, although at nearly 10% China remains strong, and unlike US sub-prime meltdown and credit crisis, weaknesses in Chinese realty market does not appear to pose a threat to the vitality or stability of the financial system. Nevertheless, it may take a couple of years for the housing market in China to stabilize and develop again. Meanwhile, consolidation and rethinking of business strategies should fill-in management thought processes in order to grow in this new world economy.

Courtesy : Realestatetimes.in

Guidelines on buying a plot

What is a Plot?

A Plot, also called site, is a small piece of land with certain dimensions.

What is a Layout?

A layout is division of a large piece of land into a number of Plots. There shall be Open Site Reservation (OSR) at a minimum of 10 per cent of total area of layout.

Is just Panchayat Approval not enough ?

No. Approval without LPA or DTCP permission is NOT valid. This is true for both Town and Village Panchayat

How do I know if proper approval is given?

The approved Plan of the layout or site is affixed with seal of LPA or DTCP along with a reference number, date and signature by hand. In addition, local body also affixes its seal along with a reference number, date and signature by hand. If both these are present, approval is proper. Make an effort to check on these reference numbers with the respective authorities.

Is a separate Building Approval needed on already approved site?

Yes. Separate Building Approval is needed. Pre-requisite to this is plot approval.

I have purchased one site in a layout from a builder and got him build my house on it. He has given building approval plan only by Panchayat. Is this sufficient? I do not find OSR in the layout.

No. The layout should have been approved by LPA or DTCP first. It is not correct for Panchayat to issue building license without plot/layout approval. Had it gone for approval by LPA, OSR would have been provided. The house itself is now an unauthorised construction.

What is the requirement for approval of a housing plot?

First, it should gain access from a Public Road. Minimum plot size should be 52 feet by 20 feet.

In a layout, what is the status of roads?

In approved layout, all roads are public owned. Promoters are required to surrender road and OSR to local body by gift deed, before getting issued with a licence.

For what purpose can I use a layout site?

Usage of site is decided by approved ‘land use’ given to the entire layout. It can be residential, commercial, mixed, industrial or other as given in the approved layout plan. A Layout with house sites cannot be used for industrial purpose.

What details should be checked for buying a site in a layout?

a) Look for LPA or DTCP approval number and seal, and Local Body Licence number and seal. Do not accept mere ‘Panchayat Approval’ or ‘near DTP approval’, and not even just approval from LPA or DTCP. Final approval by Local Body is a must.

b) Check if usage of site is for residential or other purpose that you are interested in.

c) Check if area of OSR, marked as Play Area, Garden, Park or other, is at least 10 per cent of total layout area

d) Read all conditions attached to the approvals.

e) Get to know the status and purpose of land marked ‘Owners Site’.

f) Confirm, no development charge or other need to be paid while you apply for a building licence. Approach your local body office for verification.

g) Get Encumbrance Certificate and establish owner of your site. If it is not the layout promoter mentioned in the approval papers, ensure your sale deed is made by the current bonafide owner. The sale deed should have an attachment of a copy of approved layout plan clearly indicating dimensions of your site.

h) Clearly understand liability of the seller in case of any irregularities with the property and sale. You may consider including a compensation clause.

i) Get a legal opinion, before commitment.

S. KANAGASUNDARAM
PRESIDENT OF ASSOCIATION OF LICENSED BUILDING SURVEYORS, COIMBATORE.

Courtesy : The Hindu , Thanks to Mr. Kanagasundaram

Real estate investments picking up in metros

Real estate investments picking up in metros: ASSOCHAM

Courtesy : India Infoline News Service / Mumbai Apr 16, 2009 15:33

ASSOCHAM President Sajjan Jindal said that the Indian metro cities continue to be the favorite destination for real estate development

Even though real estate has been the worst victim of high cost economy, especially after the meltdown set in, yet it’s share in total private sector infrastructure investments in the metros in last six months works out to be 12%, followed by 10.26% in hospitality, says an assessment of the Associated Chambers of Commerce and Industry of India (ASSOCHAM).

However, metro rail projects accounted for maximum of 27% share in total money injected in metro cities for infrastructure development under central, state, local government including corporates. Sewerage and solid waste management investment in the Tier I cities constitute the major chunk of investments, specifically via government mode. Mumbai (Rs166.94bn), Chennai (Rs15.88bn) and Bangalore (Rs13.54bn) are the major recipients of sewerage related investment. In percentage terms, it works out to be 16.90% of total infrastructure investment.

In a statement, ASSOCHAM President Sajjan Jindal said that the Indian metro cities continue to be the favorite destination for real estate development. The real estate projects constituting residential as well as commercial projects, have pocketed investment worth Rs157.10bn. The southern twin cities of Bangalore and Hyderabad have enjoyed maximum attention of the real estate developers.

The Karnataka capital, Bangalore is the frontrunner in terms of real estate projects planned for the metros with the investment estimated to be Rs79.90bn. Hyderabad at second place among all the cities, has bagged projects worth Rs4050 in realty space. With India being placed as versatile tourist destination across the world and steep rise in tourists arrival in India in past few years, hospitality has been considered as a crucial part of a well-developed infrastructure for the metro cities.

Chennai has come into front run in terms of funds directed towards construction and renovation of hotels. Investment of Rs40bn is being planned to infuse in constructing a five star hotel by ITC Industries in Chennai. Jindal said that as the Tier I cities in India are working out hard to offset the huge pressure on their existing infrastructure, it is the metro rail projects which have been the key driver of the infrastructure investment in these cities with metro projects costing Rs340bn.

The Study is based on the ongoing projects of central and state governments and those announced by private sector in last Six months. Six metro cities taken in the study included Delhi, Mumbai, Kolkata, Chennai, Hyderabad and Bangalore. The key challenges faced in the metros include transportation and water supply.

In transportation sector, other than metro rail, Rs62.83bn are being pooled in, accounting for 5% share. Roadway projects in the Tier I cities which include bridges, ROBs, highways and expressways, have been allocated Rs58.19bn. Water Supply projects, primarily being undertaken by the central government under Jawaharlal Nehru National Urban Renewal Mission, have absorbed Rs57.57bn investment with 4.54% share.

Kolkata residential projects back in demand

The real estate sector is finally showing signs of revival, on the back of an increasing investment in the residential segment.

Property developers are of the view that there has been a significant improvement in demand in the last couple of months, and at lease one has increased prices in the last one month.

Pradeep Chopra of PS Group, said he had increased prices for one of its projects by Rs 200 per square feet to Rs 1,899 per square feet in the last one month.

Several real estate developers are also planning to launch new projects, which they have been holding for the last six months, which could be seen as a manifestation of demand revival.

"The demand for residential projects has started picking up, and the worst is probably over for the real estate sector. Property prices should look up in the coming months," said Chopra.

P S Group is planning to launch two new residential projects in Narendrapur and Rajarhat by May this year.

Harshvardhan Neotia, chairman, Ambuja Realty, also agreed that demand for housing projects had started picking up since last month.

Property prices in Kolkata and its fringes has seen a correction of almost 25 per cent in the last six months.

Santosh Rungta, president, Confederation Of Real Estate Developers Association Of India (Credai), said, "The real estate scenario is now taking a turn for the better, not only in the eastern part, but across the country. For instance, in Mumbai, there are reports that one developer could sell 700 flats in just two days."

However, the demand for commercial and retail projects are yet to see a pick-up, and the segments are still reeling under the pressure of economic meltdown. Also, rising cost of cement has been a cause of concern for the developers, though the rise has been partly set-off by falling metal prices.

Pradeep Sureka of Sureka Group said, "In the last two months, demand has significantly picked up in the property market. There is no scope for further price correction, as certain raw material prices are still on the higher side. "

Cement prices have gone up by 20 per cent in the last one year, Sureka added.

In the months of October-November last year, several property developers had started advertising freebies to attract customers. However, they are no longer pursuing the strategy.

Eden Realty, which is developing one of the largest housing project in south Kolkata, tried to woo customers by offering free car parking space with flats few months back.

However, the response to the offer was lukewarm, and the realty company was no longer in a position to offer the scheme, admitted Sachchidanand Rai, managing director, Eden Realty.

"We expected selling about 100 flats through the scheme, but could sell about only 32. Now things have started improving and customers' interest has gone up significantly, which is also translating into sales," said Rai.

Sensing the need for easier finance, rather than freebies, developers are now focusing on pragmatic tie-ups with banks.

Thus, while earlier, many developers were paying pre-equated monthly installments (EMI) to banks for the customers, under interest subvention scheme, they were now refraining from paying the entire pre-EMI.

Recently, Eden has tied-up with four banks-- State Bank of India (SBI), IDBI, Bank of Baroda and HDFC-- under its "Empowerment " scheme.

"The scheme is a refined version of the interest subvention scheme, in keeping with the concerns of the banks as well as customers," said Rai.

The scheme, though not much different from the interest subvention scheme, involves a15 per cent down payment of advance by the customer, against which Eden would receive the sanctioned home loans in tranches, based on actual completion of the project. This would reduce the burden of the pre-EMI on developers, as payments would be based on the project completion, Rai said.

Chopra of P S Group also said, "Pre-EMI was not a profitable option for developers, as pre-EMI sometimes constituted even up to 70 per cent of the EMI, which was payable only when the project is up for possession."

Courtesy : Business Standard

Residential Sector likely to witness oversupply

The residential sector, which has already seen a 15-20% price correction in markets across the country this year, is going to witness a significant residential supply over the next 12 to 18 months in two key markets Mumbai and Gurgaon (NCR).

The direct implication of the over supply will be that the rentals will come down drastically which could lead to a further price correction over a prolonged period of time (one to two years).

Says Niranjan Hiranandani, MD, Hiranandani Developers:”There is no over supply in the Mumbai market. In last one month there has been a good sale of apartment as far as Mumbai market goes. There was a short phase and thing are changing. There has been softening of prices, but things will look up from May onwards. This is all a temporary slowdown and the market will pick up.”

Morgan Stanley Research Asia Pacific reveals that in the next few months mid Mumbai micro market will get six to seven lakh million sq ft of residential space as compared to negligible delivery over the last couple of years. In fact the Mumbai market has seen a 50% rental correction in prime areas from Rs 2 lakh for a three BHK in 3Q 2008 to Rs 1.1 lakh now.

Rohtas Goel CMD, Omaxe Group & president Naredco said: “The low sentiments majority of buyers are in wait and watch policy. After the recent price cut by the developers by squeezing their margins to the minimum level and interest rate cut by banks, we don’t foresee any further price correction in the real estate.”

In fact, in many markets, the level of transactions have gone down drastically, which has resulted in this dip. This is also because residential capital values in some micro markets in the metros have shown a negative growth in the last one quarter.

Says Santhosh Kumar, deputy CEO of Jones Lang LaSalle Meghraj (JLLM): “In the current real estate scenario, what is being observed is a stabilization of select markets. A consistent upswing is not possible in any market. When a large level of supply is in the offering. Real estate markets have observed high growth levels in the recent past. However, in certain areas, market stabilization has been observed. This indicates that there are not many buyers for the prices quoted for various real estate typologies at this point of time.”

In various markets, despite a slowdown in demand, essentially from the end-user and speculative investors, developers have refrained from reducing rates. But both in Mumbai and Gurgoan now developers are offering 25% to 30% discount on the market rate. Sales in secondary markets have also taken a beating with very few transactions taking place at relatively lower price points than market expectations.

courtesy : IndianRealityNews

Commercial Real Estate Sector shows positive signs

There are signs that the commercial real estate sector is looking up. Enquiries, which had totally dried up in the October-December quarter, are now restarting in the leasing area. Kaustuv Roy, executive director at Cushman & Wakefield says there has been a 50-70% increase in enquiries over the previous quarter. Property advisory companies have started to see this new interest since the beginning of January. Across the country, office space rentals are down 20-40% from the peak in late 2007 and early 2008, and this is one of the main triggers for the movement in the market.

“Certain sectors which are doing well even in the downturn are now starting to execute their expansion plans. They were sitting on the sides waiting for a correction,” says Anuj Puri, chairman and country head at JLL-M. Sectors like pharma, healthcare, education, telecom, FMCG and infrastructure have been comparatively less affected because of the downturn.

Because of the perceived correction, people who have growth plans are sniffing around. “These were the people who smartly held back their decisions earlier. Now that the market has started to correct, they are beginning to look around,” says Vivek Dahiya, CEO of GenReal, a property consultancy firm.

Some leasing deals have already happened in the past few months. According to sources, United Power has picked up 20,000-25,000 sq ft of space in 3C Group’s Green Boulevard; Mid Land Credit has picked up 80,000 sq ft in sector 44, Gurgaon; a management institute has picked up 44,000 sq ft in Gurgaon; Avenue Capital has taken 2,000 sq ft at Global Business Park in Gurgaon; Asia Pacific Diagnostics has taken 1,500 sq ft at Global Orchid and Future Generali has picked up 6,000 sq ft at sector 29, Gurgaon. Mr Dahiya feels this is a good time to do a thorough site search and selection to get the best product at the best rate and then take a decision in the next few months.

The requirement for space though is smaller at the moment. “People are not taking big positions right now. Office space pickup is happening but the size of transactions is small,” says Anshuman Magazine, managing director of CB Richard Ellis. The firm is getting some large deals as well but in a fragmented manner, unlike earlier, when there was a steady stream of large-ticket deals where companies were looking at space in the 2,00,000-3,00,000 sq ft range. “But in this market, even to get these larger deals in a fragmented manner is a very good sign,” he says.

Rentals have rationalised in the last few months and this, along with an option to move to better quality office space is starting to move the market. “In terms of rentals, there will be a further dip of at least 10-20%, excluding in Mumbai. In this market, the expectation is that there will be a dip of further 30%. In terms of demand, it has started to pick up but is being led by strictly value for money buyers,” says real estate expert Anckur Srivasttava. According to Cushman & Wakefield, compared to six months ago, rentals of commercial office space in Gurgaon has fallen by 26%, in Noida by 17%, in Worli and Lower Parel by 38-39%, in Nariman Point by 30% and in Andheri by 33%.

Also, a positive has been the reduction in the time taken for deals to close. “We are working on several transactions which are closing in 1-2 months compared to 4-5 months last year. The negotiation cycles have reduced,” says Mr Roy of Cushman & Wakefield.

Courtesy : Indian RealityNews

Construction tips

* Ferro cement walls are fire resistant.
* It can resist termites.
* Ferro cement walls are weather proof but a coating of quality paint can make it durable.
* Cracks in cement can be sealed with a coating of waterycement solution after wetting the surface.

Thanks to : The Hindu

Cement Price hike

This month, Cement price reached nearly Rs 245 to 248 per bag due to demand and transport problem.

Prices were hiked by Rs 3-5 a bag in the first of March and again by Rs 5 a bag between March 16 and 20th, said a city-based cement dealer. Together with the hike in March, cement prices in the last 6-8 weeks have gone up by Rs 12-15 a bag.

Last Month ( February) Price was Rs. 239 per Bag and now increase based on demand in building industries demand.

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