indian real estate market report

1.  HomeBlogsImpact of real estate developments onNRIs Impact Of Real Estate Developments OnNRIs InNews Create PDF in your applications with the Pdfcrowd HTML to PDFAPI PDFCROWD

2. The Indian economy is looking towards the upward trend and is poised to become better investment destinations going forward. The realty sector is the biggest contributors to the growing economy but it has lately been experiencing some downs and ups. The non-resident Indiansegment,thebiggestcustomerbasefortheIndianrealtysector,hasbeentroubledwith the concerns like lack of transparency, execution and delivery delays, disappointing after- salesservices,propertyquality,complexlegalroutes,misleadingcampaigns,etc. But, over last 6 months or so, the scenario seems to actually have changed, all thanks to the introduction of the Real Estate Regulatory Act. The non-resident Indians have numerous reasonstoinvestintherealestatesectorandtheexpertsanddevelopersdobelievethatthe future certainly lookspromising. RealEstateRegulatoryAct-boostingtheconfidenceofNRI Real Estate Regulations Act came into effect with 59 of 92 sections which are notified from May 1st, 2016 while other sections and provisions came into effect from May 1st, 2017. The non-residentIndiansforlonghavebeenprimeinvestorsinrealestateuntilthethingsgottoo complexandmadeitprettydifficultforthemtobuyandmaintaintheproperties.Here,itisthat theRealEstateRegulationsActcomesinasthesaviorgivingmuch-neededreliefforthenon- resident Indian investing inproperties. There are reported 16 million non-resident Indians and as per certain surveys, more than 40 percent of the non-resident Indians said that buying properties was their preferred investment. This goes only to show the intent, as well as the enthusiasm of the non-resident Indians,providedthereisthepromiseofsupportandtheadvantageandthisiswheretheReal Estate Regulations Act comes intoplay. Actually, the act covers as well as addressing numerous non-resident Indians concerns and the experts believe that it will boost the confidence of the non-resident Indians for further investment into the real estate sector. Also, RERA provides clarity as well as the purpose of hugelyunregulatedrealtysectorwherethedevelopershavehadtheupperhand.Theacthas been put in place to make sure of the protection to the property buyers at large and that, of course, includes the non-residentIndians. Advantages throughRERA- Transparency The biggest benefit of the act is that the developer or builder will have to register the project with the regulatory body and will require providing all details of the project on the website. Thiswouldallowthenon-residentIndiatohave aclearideaofwhattheyareactuallyinvesting into. Avoids deliverydelay The act makes sure that the developers are serious about delivery and they don’t overshoot thedeadline.Inthepast,non-residentIndianshavebeensubjectedtotheprojectdelaysasof which they had experienced substantial losses. Real Estate Regulations Act makes sure that theprojectisdeliveredonthetieasitcertainlypenalizesthedevelopersonthedelay. Arrests misleadingcampaigns The developers who have at times flaunted with the rules and mislead the buyers about propertydetailscannolongerdosoaseachdetailconcerningtheprojectissubmittedtothe Create PDF in your applications with the Pdfcrowd HTML to PDFAPI PDFCROWD

3. regulatorybodyaswellasmadeavailableonthewebsite. Status andprogress Thedevelopersareneededtoconstantlygivethestatusoftheprojectanditsprogress.The non-residentIndianswhohavethedifficultyoftravelingtothesitegetthejobdonethrough Real Estate Regulatory Act which mandates the developers to post the information on the progress of theproject. Accountability The rules mandate that the developers place aside 70% of complete project cost in the escrowaccounts.Thismakessurethatthemoneythatiscollectedfromthenon-resident Indianisusedfordevelopmentofprojectadnotdivertedtowardsanyotherpurpose. Previously,someofthedeveloperstotaketheadvantageofthebuyerinvestmentsaswellas channeledsimilarintootherareasbutwithRERA,theirhandsareactuallytiedup. Villas on theradar Due to higher earning and saving capacities, many of the non-resident Indians have shown somekeeninterestintheluxurypropertiesaswellasvillas.Infact,thereportsdosuggestthat non-resident Indians are among top buyers of villas and luxury homes in India. Numerous top developersacrossthecountryhavemadeaforayintothevillas. As the income level grows, the non-resident Indians’ focus on the villas as well as luxury apartments is set to increase and with the Real Estate Regulatory Act in the play, it is being believed by the experts that scope and demand for villas are slated to grow in coming years. Non-resident Indians for years have been playing the prime role as the investors in realty sector but at the same tie, they are subjected to numerous concerns which lead to the decrease of faith and confidence in the sector. The recent developments, RERA in particular, havemadesurethatnon-residentIndiansasbuyershavemanyconcernsaddressed.Thereal estate sector is set to see some higher level of non-resident Indians’ investments thanks hugely to a clear, accountable, transparent and more professionally dealt realty purchase process post the Real Estate Regulatory Act. It is now safe to say that developments have actuallybeguntohaveapositiveeffectonthenon-residentIndiansegment.      PREVARTICLE Thereis0commenton"ImpactofrealestatedevelopmentsonNRIs". Create PDF in your applications with the Pdfcrowd HTML to PDFAPI PDFCROWD

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5. ForNRIs On Jan9,2018 AttractiveRealty Market? On Mar3,2018 To Create Affordable Housing On Mar20,2018  Create PDF in your applications with the Pdfcrowd HTML to PDFAPI PDFCROWD

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