Steps for hassle free registration of a property

Property registration is the final agreement between the buyer and seller. In India, registration of a sold property is mandatory by law. The government and the law will not cover any legal issues or otherwise faced by the owner if the property is not registered in his name. The law will not recognize unregistered owners to a property even if they have paid in full. This is specified by law to protect the land owners. A person acquires rights to the property only after the sale deed is registered.

The registration process of a property happens at the respective Sub Registrar office of the locality in which the property in question is located, be it rural or urban area. The following are the procedures associated with the land / property registration in India.

Title Verification:

Though not a mandatory process, it is highly advisable that any prospect owner gets the title of the property duly verified by a person practicing law. The buyer has the right to demand for the photocopy of the documents related to the property for verifying the title by a lawyer or a civil consultant.

In most cases, if opting for a home loan, the bank or the financial institution will check the title and only then issue the loan. If the title is not clear of issues, the loan will not be issued. However, it is the responsibility of the buyer to authenticate his purchase even before making the payment.

Sale Deed:

The sale deed has to mention all the specifics related to the property. If the land has any construction on it, the exact specifics have to be mentioned at length. The preparation and attestation of the Sale Deed is done on proper stamp paper by an authorized attorney. The buyer will have to bear the stamp duty and the amount varies based on the locality.

At the Sub Registrar:

Locate the associated sub registrar office with the help of the seller, developer or the person preparing the sale deed. Get a prior appointment from the authorities and stick to it. These days, the computerization means you are given a token number for your appointment. Do not miss it at all costs!

Document Submission:

A thorough verification of the documents is done by the sub registrar and the registration process is followed to the T as per the Registration Act of 1908. Post registration the documents can be collected in person by the owner after signing a dispatch register at the desk. If the owner is not present, a letter of authority (also attested) can be given to a related person.

Title Mutation:

Once the registration is completed, the title of the property becomes the property of the owner. The owner can then get the title of the property transferred (or in this case termed as mutated) in his name at the local Municipal authority.

Without the legal registration of the property you will not be entitled as the owner so register as soon as the payment is made.

About the Author:

Frank is a retired service man who loves to impart his knowledge on property investment through sites like indiaproperty.com

Does real estate price in Delhi NCR increases?

The real estate market in Delhi have always been very volatile in the recent past due to supply and demand dynamics. If you have bought a flat in Delhi in the last quarter of last year, then you maybe a lucky one as it was the best time to buy a house in Delhi. During last quarter of the year 2014, the secondary market prices of properties in Delhi witnessed a dip of 25-30 per cent due to inventory pile up. This inventory pile up made investors go out of cash and made them to sell properties in Delhi for a comparatively lower price. Though these prices were not too low but were little less when compared with peak prices that prevailed in the first half of the year 2014. Though this statistics shows that this year started off with real estate being favourable for the potential home buyers, buyers were not still happy with the prices as the capital city has the highest of prices even for not so prime areas in Delhi.

The April- June quarter of the year 2015 has seen a rise of just 1% in the real estate prices in Delhi NCR. Even though the inventory pile up and subdued demand were still showing high in Delhi, this rise is just by 1 percent which is very insignificant. The property prices in South Delhi fell by 2% while North by 5% and West Delhi dropped by 8% according to the Delhi real estate market.

Meanwhile the government of Delhi cleared the decks of land pulling it the suburbs of Delhi two months back which have helped in bringing down the property prices by 15 to 20% in the next two years in Delhi. This land acquisition by the government will make abundant of land available for affordable and low-budget housing projects in Delhi. It will also help in expanding the urban limit of Delhi region. It is expected that if the builders offer required inventory on a steady phase. When high prices of properties in Delhi meets less demand then obviously the real estate sector will have a declining trend, which is now currently happens in the Delhi NCR. 

The Delhi Development Authority recently came up with the Delhi Master Plan-2021, according to which it will work along with private sectors to urbanize about 20,000 hectares of land. When this urbanization starts, there will be about 1.4-1.6 million dwelling units in the outskirts of Delhi. This plan aims at bringing a house to meet the growing population of Delhi which may strike a high rate of about 23 million in the year 2021.

The recent survey in Delhi and NCR including Noida and Gurgaon indicates that there are about 1.7 lakhs of unsold flats in these regions. With this inventory pile up going high on numbers, prices of flats in Gurgaon has went down by 25%, flats in Noida by 30% and flats in Delhi by 15%. These ups and downs in Delhi real estate market have resulted in a crucial differences in the prices here.

Investment in Sarjapur Road gaining popularity

Investment in Sarjapur Road gaining popularity Sarjapur road in Bangalore has become one of the leading realty hotspot of the city owing to its close proximity to IT corridor. This rapidly developing location has attracted towards it many investors to launch new projects to cater to demand of the buyers. With major IT companies setting up there campus here, the real estate development in this area has gained immense popularity among all working professionals. It is located very near and well connected to IT corridors in Whitefield (15 km), Electronic City (19 km), Outer Ring Road (16 km), Marathahalli and Koramangala. This proximity has helped boosting real estate in Bangalore Sarjapur road. The affordable prices of plots and flats for sale in Bangalore Sarjapur Road have also contributed to the high demand and absorption rates. 

The real estate in Bangalore Sarjapur Road is stimulated by end users that mostly include IT professionals. Major developers such as Yesvee Estatesm, Asset Builders, Prabhavathi Builders & Developers and Sai Vandana Properties have already launched their projects here due to high demand in this area. 

Close proximity to IT companies

Though we have discussed a lot on this, yet it makes the most compelling reason for rapid real estate growth in Sarjapur Road. The proximity to various IT clusters including Whitefield and Electronic city, this locality also sees development of various micro-markets. With Wipro, HP, Cisco and Accenture and other multinational companies has made the growth of floating population here. People who work in these IT clusters prefer to buy a flat for sale in Bangalore Sarjapur Road due to their affordable prices and easy accessibility. This has made this area a major residential spot for IT professional and other individuals as well. Apart from IT corridors, it also have other required social infrastructure such as educational institution and hospitals that have lured many people to shift base here. 

Affordable prices

The prices for apartments and plots for sale in Bangalore Sarjapur Road are comparatively low when compared to the prices in the city. You can buy a 2 BHK flats n Sarjapur Road with a per square feet rate of just Rs. 4500 to 6000. This locality's real estate is driven by end users mainly because of its affordable prices. Along with good schools and hospitals, and retail outlet, Sarjapur road is a sure realty destinations for many now and in future as well. There are a lot of plots for sale in Bangalore Sarjapur Road are available for affordable prices for builders making luring them to start various new residential projects here. With such affordable capital values, most of the ready to move projects fits precisely inside the budgets of mid-income group buyers.

Affordability and close vicinity to IT clusters have made Sarjapur Road a better place to invest. Not just apartments, it also has row houses, villas and plots for sale. It also has good capital value appreciation, so you can also buy plots for sale in Bangalore Sarjapur Road to gain good return of interest.

Top reasons to buy a property in Delhi now!

Delhi’s property market has woken up from its slumber. Though this was inevitable, many had given up hope on the real estate of Delhi, especially with mounting unsold properties and unfinished projects in and around the city. The government had worked very hard and implemented a lot of projects that would supplement the property growth spurt in localities like Noida, Gurgaon and Faridabad. The efforts have finally paid off and here are a few reasons as to why you must buy a property in Delhi before it is too late!

One of the major hurdles the realty market of Delhi faces is to sell off the already accumulated property. Either the prices had to be slashed or the existing amenities had to be improved to makes prospective property buyers consider shelling out cash for the properties. The second option worked and this is how:

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1.  The Delhi Metro has redefined the term called connectivity in the capital city! You no longer have to find residence in the same locality as you work. Sectors in Dwarka are now completely linked to one another! Noida is well connected to NCR too! The next proposed stage of the metro will connect Noida’s city center with the Greater Noida region making property market boom further! The Violet line will aid to Faridabad by connecting up to YMCA Chowk!
2. Delhi government made all the right moves in conjunction with the Central Government. The Swachch Bharat Movement started off a chain clean Green moments which lead to a lot of green spaces in the city! 
3.  The Supreme Court stepped in at the right time by settling the long standing dispute of Farmer’s Land Acquisition issues. The investors who bought land from the farmers will now breathe in peace and develop stunning projects soon enough!
4.  New sectors are well-planned with perfectly sorted our ergonomics and wide roads. The green belt around sectors helps a lot too in improving the living standards of the locality. Given the extremities faced by the region of Delhi, climate-wise, it has been a smart thing to do.
5. Property prices in NCR are on the higher side but a few areas do have cheap offerings. A smart researcher will be able to find an affordable apartment in some place like Sector 16 of Greater Noida or Ahinsa Khand 1 of Ghaziabad.
6. Arterial roads and highways like the NH 24 greatly has shortened distances and enhanced connectivity. Ahinsa Khand, Crossing Republik, Noida sectors 62, 63, 57, 58 and 59 all have seen price hikes because of this one highway! NH8 in the same way does the same to Gurgaon! undli-Manesar-Palwal (KMP) Expressway is the sole reason for Neharpur to come in the map of property buyers from Delhi and Gurgaon
7. Civic infrastructure is improving beyond comparison in most of the localities that are experiencing growth in property in Delhi. Complementing the same is that the cost of living is comparatively lesser in localities like Faridabad when compared to NCR regions.

The growth of property market in Virar-Mumbai

Any locality whose property prices see over a 100% growth in less than a decade can be termed as a stellar place for returns on investment! The shrinking availability of space in the mainland of Mumbai in the last 6 years or so, builders and developers have been forced to look elsewhere and Virar has been their go to destination!

Geography:

While on the lookout for new realty destinations for developing apartments in Mumbai, Virar has caught the fancy of many top property builders. It is termed as the town of the future by property experts in the city. Situated close to Vasai and surrounded by other suburbs like Dahisar, Tokare, Arnala and Nalasopara East, the town falls under the district of Palghar. The area available is huge; over 100 square kms of land!

Future prospects:

With Mumbai turning out to be empty handed, there is a desperate requirement for fresher, cheaper rural towns which can take up the population of the region. This is how a place like Virar has profited. It has a well-planned connectivity with the other parts of the city, making it a real prospect for the future.

Inside of this arranging is the Virar-Alibaug Corridor Project. The undertaking has a twofold objective – firstly to unite the two towns by road, and furthermore by the metro. While the time period for this is year 2031, it is bound to happen slow, yet steady! The other arrangement is to have the monorail running in the middle of Virar and Chikhaldongri. The Rs 600-crore plan will cover the Virar-Chikhaldongri line in a couple of years or so!

Social infrastructure:

Though underrated, the area is not too bad for what is primarily going to be a residential destination for many investors. Though the area might not boast of many Malls and other hi-tech facilities, it more than makes up for all that with the coastal feel to the region! The beaches are an added advantage and the number of resorts dotting the coastline makes for a great way to unwind on a holiday than jostling through the hustle and bustle of a mall.

There are a few amusement parks too which break the monotony of activities. A few heritage spots like the famous forts of Arnala and Vasai make it interesting for those who like a mini trek. The locality is also known for a number of lakes that are present - Achole Lake, Nirmal Lake, Bhuigoan Hill Lake, Nandakhal Lake, Gassa Lake, Gorlai Lake and Varmala Lake all make for a good vacation spot for families.

Financial Gain:

Let’s face it Virar might not be the primary residential destination for many Mumbaikars. But, the possibility of buying a house here and renting it out for income is a smart move! Localities like Dahisar in Virar offer good deals on rent with 2 bhk apartments in Virar fetching as much as 20,000 INR a month on rent alone! So, go ahead and pick out an apartment in the hottest upcoming locality of Mumbai and be pleased!

Author Bio:

Shailja is an Indian housewife who loves to write on Real Estate. She is a regular contributor to the columns of many property magazines and also IndiaProperty.com

 

 

Best places to buy affordable apartments in Ahmedabad

Ahmedabad has always been a favourable residential destination for people for various compelling reasons. Housing a number of IT/ITES companies, textile mills, manufacturing companies, pharmaceutical companies, and more, it contributes a commendable part of the state's economy. It is also known for housing various popular educational institution such as CEPT, IIM and NID. With all required amenities, developed infrastructure, numerous job opportunities and more, what else can one ask for more than this to invest on any properties in Ahmedabad? 

With that said, the real estate in Ahmedabad is always on a high peak with a perfect equilibrium of demand and supply. Ahmedabad is one of the few cities in India where you can buy affordable flats without compromising on any basic amenities. While Ahmedabad on the whole is a realty hot spot, there are few locations in and around it that offer apartments at affordable prices. If you are looking out to buy 3BHK flats in Ahmedabad for a reasonable price, then you will have various choices of locations left before you. 

Satellite

Situated on the west of Ahmedabad, Satellite is the developed locality that offers affordable houses and properties in Ahmedabad. The inventory of both residential and commercial property in Satellite is very high to meet the demand from midlevel income group people. With a number of popular educational institutions, hospitals, entertainment centres, shopping malls, cinemas, and more, Satellite makes a best place for families to invest and live in. With a fast developing physical and social infrastructure, well-laid roads, connectivity, and transport, it remains as a desirable realty destination for many in the recent years. Even the capital values of properties in Ahmedabad Satellite is also reasonable and are escalated by 22% this year for which it attracts a number of potential buyers. This high appreciation rate have drawn investors towards it.

Bopal

Bopal which was once a satellite town & Gram Panchayat is now a municipality in the Ahmedabad district. Bopal and its neighbouring village Ghuma have been merged and granted a 'municipality' status in February 2015. It also forms the western part of Ahmedabad. With a comparatively lower cost of living, it is considered as the best place for middle income group people. It is because of this reason, Bopal offers affordable 2 and 3 BHK apartments in Ahmedabad. Availability of huge land parcels in this locality make it possible for investors to buy properties in Ahmedabad Bopal for affordable prices. So they are able to offer well-built apartments with all civic amenities at reasonable prices.

Gota

Gota a popular suburb of Ahmedabad is well known to offer affordable apartments. Located on the SG highway, it has attracted so many construction projects in recent past. The availability of land parcels at lower prices is the main reason that attract investors here. Investing comparatively lower prices on land, the builders are able to offers best living spaces at affordable cost, which lures middle class people to invest here.

Some of the other localities where you can find affordable properties in Ahmedabad includes Surat, Kodakdev, SG Highway and Motera.

Steady growth of real estate in Ghaziabad

Called as the “Gateway of Uttar Pradesh”, Ghaziabad is the fastest growing city of the country. It is a planned industrial city, which is complete with well-connected roads and railways. With a developed infrastructure, educational institutions and health centres, Ghaziabad is a perfect place to live in. With so many housing clusters such as Indirapuram, Vaishali, Vasundhara and Kaushambi, Ghaziabad provides affordable housing for its people. There are several new projects coming up in these areas that cater to both middle income group of people and high income group of people.

The major realty growth in Ghaziabad is mainly contributed by the NH-24 and NH 58, which are gaining popularity for residential properties in Ghaziabad. As the locations around these highways are located near to Delhi and also has various infrastructural developments, they boost the real estate of Ghaziabad. Also the availability of flats in Ghaziabad at affordable prices have attracted potential buyers to it. Both residential and commercial development happens mainly near these two highways. In short you can say only NH24 and NH-58 helps in keeping the Ghaziabad real estate in peak.

The Metro line that runs in Vaishali at Arthala has made a positive impact in its real estate... Also the multilateral flyover at Ghazipur Chowk, a flyover at Mohan Nagar Chowk connecting NH-58 and a link road connecting NH-58 to the residential zone at Raj Nagar Extension all offer easy and convenient connectivity between different localities of the city making people to invest in any of these areas without the fear of accessibility. With a launch of several new projects in NH-24 and NH-58, these area came into prominence in real estate in Ghaziabad.

Located in close proximity to Delhi, Ghaziabad has a mixture of people from different culture and classes that help in increasing demand for both affordable and premium flats in Ghaziabad. So people who work in the other costly cities around Ghaziabad such as Noida and Greater Noida prefer to stay here due to its connectivity and affordability.

Investors in Ghaziabad also follow a particular trend to keep moving with the growth of real estate in the city. They prefer to buy newly launched properties in Ghaziabad and sell them within a short span of time. In this way they try to increase the appreciation rate of properties. For instance if an investor buys a property today for Rs. 30 lakhs, try to sell in in a period of three to four months to a Rs.40 to 45 lakhs. This helps them in constant cash flow and in increasing the rate of appreciation of properties.

Not just investor played a main role in improving the real estate sector of Ghaziabad, but also the government. The government helped in improving and promoting the industrialization in and around the highways. Apart from residential areas, industries, logistics, production units, environmental protection facilities, public utilities, social infrastructure and administrative services help the real estate thrive in these areas. Hence the demand for residential apartments in Ghaziabad increased with time. These areas witnessed a lot of residential projects launching at a rapid speed.