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Bhagwat Singh Gurjar - Freelance Writer with 0 Reviews
Bhagwat Singh Gurjar
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Expertise 17
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Real Estate
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Experience

Jun 2016 – Mar 2017
UNIVERSITY OF BHOPAL
Sep 2010 – Jun 2013
JSW STEEL

Writing languages 2

English Advanced

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2012 – 2016
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2007 – 2010
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  • Real Estate

Impact of Demonetization on Real Estate

The Indian real estate sector has been facing significant challenges in the past few years when it comes to sales and overall growth. With a lot of measures, the sector was clearly pointing towards a slow and gradual, but sure recovery. Market saw a gradual decline in the unsold inventories that had been choking up liquidity for builders. One of the reasons was the residential market being flooded with projects that were expensive, against the demand for more affordable ones - in simple terms, a classic supply-demand mismatch. To liquidate their holdings and ensure financial stability, developers became amenable to negotiating more and offering attractive deals. They also tied up with financial institutions to offer affordable loans, and announced other schemes to help buyers take decisions. This had started paying off. Owing to its uniqueness as an economic event, demonetisation brought a lot of confusion, uncertainty – and, most of all, rumour-mongering - especially when it came to the realty sector. No doubt, everyone was affected by this radical measure, and initially all possible economic activities slowed down to a large extent. However, the dust soon settled and economic activity resumed. Unfortunately, this quick return to relative stability is not something that has been adequately captured by the more disaster-focused media channels. This market definitely got affected, considering the structure of the deals involved often take here. With scarcity of cash, a large corpus of buyers went off the market and sellers can do little but wait. This will also result in the reduction of prices, thereby benefitting buyers. However, the pricing reduction might take time - and the magnitude of reduction cannot be predicted at this stage. This is the area that has been overlooked and bundled with the rest of the real estate sector. The rumoured decline in this segment is very far from reality, because the primary market - consisting of ready-to-move homes and new projects – caters to end-users whose primary sources of funding are banks and other financial institutions. Simply put, it is home loans which finance the purchase of such properties, so this segment is effectively insulated from the currency ban. It was not expected to be affected, and in fact was not – other than in terms of the initial confusion-induced decline in sentiment. The trend emerging now points towards a recovery in buying sentiment, with serious buyers already returning to the primary markets. The fact is, demonetisation has already resulted in a major reduction of home loan rate interest rates, and they are expected to reduce further. Developers offering good deals and discounts are maintaining their position in a market which is now ideal for serious end-users.

Real Estate regulation act in india

The failure of most states to put in place a regulator ahead of the April 30 deadline has put a question mark on the Centre’s effort to protect home buyers by giving them a platform to resolve disputes quickly. Madhya Pradesh is the only state to have set up the real estate regulatory authority (Rera), a year after Parliament passed a law to regulate residential and commercial projects and protect the interests of buyers who often complain of delays and cost overruns. The Real Estate (Regulation and Development) Act, 2016 is an Act of the Parliament of India which seeks to protect home-buyers as well as help boost investments in the real estate industry. The bill was passed by the Rajya Sabha on 10 March 2016 and by the Lok Sabha on 15 March 2016. The Act came into force from 1 May 2016 with 69 of 92 sections, provides for a regulator in states to oversee transactions and settle disputes. It is an act to establish the Real Estate Regulatory Authority for regulation and promotion of the real estate sector and to ensure sale of plot, apartment of building, as the case may be, or sale of real estate project, in an efficient and transparent manner and to protect the interest of consumers in the real estate sector and to establish an adjudicating mechanism for speedy dispute redressal and also to establish the Appellate Tribunal to hear appeals from the decisions, directions or orders of the Real Estate Regulatory Authority and the adjudicating officer and for matters connected therewith or incidental thereto. were given a year to get the regulator in place. Without these regulators, the realty law will be ineffectual. Builders have to register a project coming up on 500sq m or more with the regulator before they launch or even advertise their plan. States can name any officer, preferably from the housing department, as the regulator to hear buyers’ complaints till a Rera is set up. In the absence of the Rera, developers won’t have to register projects if they complete it before the regulator is notified. The law covers new as well as those projects where completion certificate has not been given. A buyer hit by delays won’t get any relief. As of now, the real estate sector is largely unregulated and courts are the only place where a buyer can take a complaint, which can take years in India’s notoriously sluggish judicial system.

Tips for Success in Real Estate

Those who consistently make money in real estate know the market. They know the location and the history. They know what new developments are planned. They know the transportation and the schools. They know everything about the area where they invest. They have to know it all. Staying ahead of the competition in real estate investment means doing your homework. If you are new to the business, it can be daunting, but in this article we'll teach you five tricks that the old pros use to get ahead of the trends instead of chasing them. 1.The first things to study are the current price trends is the area. For example, a potential investor should look to see if the price of homes is accelerating faster in one area than in others. Next, check to see if the average home price is more than in other neighboring towns. This will provide an idea of where the biggest demand is. 2.There is a host of benefits you can enjoy by getting pre-approved for a mortgage. Chief among them are financial benefits. For example, most lenders will lock in an interest rate for you once you are pre-approved for a mortgage. This let's you enjoy the benefits of a lower interest rate if interest rates rise while you're house hunting. 3.When you see new roads and schools being built, it's a sign that the community is set for a growth spurt. Investing in a growing community can be very profitable. In addition, certain types of development, like new shopping centers, may be extremely attractive to homebuyers , and may also help keep the tax base low. 4.If there are two towns side by side - one with high property taxes (or with progressively rising property taxes) and the other with low property taxes - the one with the lower taxes will usually be more in demand 5.If the properties in a major city or town have become overpriced, the areas on the outer fringes most likely will soon be in demand. Areas in close to major bus and rail transportation are even more desirable Nearly any area that is about to install a major train stop or a new major bus route will see its proverbial stock go up in value.

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