Second Home in Delhi NCR

Second Home in Delhi NCR

1.      What should be the areas of focus in terms of amenities in a project or apartment?

As an investment option, the buyer needs to look at the amenities that are going to be a part of the project once delivered. Since the second home purchase is generally for investment purpose and once delivered it will be reaping rental income for the investor, the buyer needs to ensure that the project has good amenities like swimming pool; separate kids play area, club, gym etc. These amenities are a good tipping point for families who are looking for house on rent.  They add value to your property and help you in quick rental deal.

Also, second home is purchased by joint families who are looking to live nuclear due to long work travels. For these kinds of buyers, it is essential that they invest in a property that gives high security and surveillance, beautiful landscaping and good connectivity.

2.      Which areas in the region are most suitable to buy a second home at?

There are a variety of options in the real estate market, you can have second home in the city and lease it with a steady income filling up your assets. Delhi NCR is a growing market and the real estate sector is picking up momentum in the resale market. Areas like New Gurgaon, Golf Course extension in Gurgaon; Central Noida, Greater Noida Expressway, Noida Extension locations are gaining traction from the buyers for second home investments.

Since the sole motto is investment, buyer prefers the projects by trusted builders who have delivered good quality before and have good expected rate of return in future. The areas that have high infrastructure development plans with good connectivity, metro accessibility, proximity to corporate and retail hubs are always the safe bets to invest for long term.

3.      Other legal issues that the buyer should keep in mind while going for a second home.

As a buyer, you must conduct proper research about the property and avoid any impulsive decisions based on the marketing gimmicks by the builders. While buying a second home, one needs to keep in mind the credibility of the builder and the delivery date promised. Also the buyer needs to do his research and check the project viability and whether the land deed and other title deeds are clear. Also one needs to consider if all the necessary approvals have been taken by the builder for the said property that the buyer is willing to invest in.  

RE/MAX Agent count crosses 110000 gobally!

Big news for everyone in RE/MAX: The worldwide network has topped 110,000 agents!

The global network, in over 100 countries and territories, has grown every quarter for four straight years. That growth means more yard signs, more homes sold, more satisfied clients and more top professionals working together to serve buyers and sellers.

It’s another reminder that RE/MAX is the right choice for agents who strive to be great – and for clients looking to work with the best. This milestone confirms that greatness attracts greatness and the immense talents and achievements of the agents have built a brand others want to join.

Quote by Dave Liniger, Founder, RE/MAX LLC- “The people drawn to RE/MAX are a mix of established producers and newer agents aspiring to get better. And the growing agent count benefits us all – it brings more listings, more yard signs, more advertising, more brand power, more phone calls, more web traffic, more referrals and more satisfied buyers and sellers.

So celebrate the fact we’re 110,000 agents strong. And know you’re in good company – because more and more professionals are choosing to call RE/MAX home”

Quote by Sam Chopra, Founder & Chairman, RE/MAX India- “ The network’s global presence is exciting to me, and it’s a significant addition to my business. The fact that there are so many services available and that RE/MAX promotes the individual agents makes me very excited. In 2009 We decided that we had the experience, dedication and drive needed to bring the RE/MAX brand to the country. Our goal is to be the dominant real estate organization in the country and we took the master franchise of RE/MAX in India. We play pivotal roles in organizing the local real estate market into a cohesive professional marketplace.”

RE/MAX thrives to grow across the globe and cover the world by appointing the likeminded people in all the countries and further spread the RE/MAX business. The International development team at RE/MAX LLC works very proactively to appoint the Master Franchises across the globe. With a presence in over 100 countries and territories, the RE/MAX network’s global footprint is unmatched by any other real estate brand.

As RE/MAX India our focus is also to build a strong network of agents pan India and target a 4 digit agent count in the coming year.

The Real Estate market of India has always been an attractive market for investment purpose, the reason being the increased economic growth. India is a growing economy and has witnessed many big infrastructure and Real Estate companies keen on undertaking projects in both the big as well as small cities in India. I feel that if our sector becomes more structured and introduces some industry standards, the way it happens in developed countries; the major challenges can be taken care of.

RE/MAX has been a successful phenomenon in around 100 plus countries. It has played a pioneering role in organizing the unorganized Real Estate market in various countries. As RE/MAX India our aim was to recruit and train Real Estate people at various levels of the Business Model to create an unprecedented network spanning the entire country which will not only organize the Indian Real Estate Market but also create an unmatched referral system.

The RE/MAX concept combines maximum commissions and the best support services to attract top agents. The agents share office overheads, pay management fee, and in return receive a wide variety of Real Estate services like International as well as National Referrals, high commissions, benefits from National as well as Region centric advertising campaigns, superior training, professionalism and growing market share. It was something that no one in the Indian real estate industry had thought of but was much needed to enable the agents to not only provide quality services to their prosperous clients but also change the way real estate is taken

Impact of Demonetization in Real Estate

Impact of Demonetization in Real Estate

The year 2016 has been very imperative in shaping the Real Estate industry with the government of India initiating some key reforms in this sector. The Major initiative being the implementation of Real Estate Regulatory Bill (RERA) on pan India basis. Other key reforms like REITs, Benami Transactions and FDIs in Real Estate. These reforms have a common agenda to bring in transparency in the Real Estate sector and help the industry become more organised and professional.

The latest “Surgical Strike” against black money is the historic Move taken by the Modi Government. The long-term impact will lead to stabilization of economy which ultimately will be in the favour of the Real Estate sector. Since this sector has significant amount of cash involvement, the impact of this government crackdown will be felt in the short term and eventually help in correcting the market sentiments. There is undeniable truth that there is 20-30% of cash component involved in the real estate transactions due to the disparity between the circle rate and market rate.

The ratio of cash involvement is dependent on the type of property transaction. In Primary market majority of the residential purchases are financed through mortgages. Though the sales will decrease for a certain period but eventually with Banks getting richer and having high liquidity, the Interest rates will decrease in the days to come. The service class population who have been sitting on fence to buy the property will finally purchase their long dreamt homes with easy mortgage plans offered by banks. With the lack funds for a developer to park it in a land for new projects, they are also finding it difficult to monetise their land bank to cut down debt obligations. These developers in the short term will fall prey to the cash crunch. To get some money in their accounts, they will have to offer price cuts to sell out the unsold inventory. This will be the Bonanza time for the buyers to purchase their dream home at never before offered prices.

Secondary market transactions essentially involve higher cash payouts. As discussed this is generally due to the variation in the circle rate and market rate of the property. Now that the government has come down heavily on black money, the cash component in property transactions will go down. This will result in a drop-in land prices and land deals will likely see a considerable dip for few months. 

As RERA becomes effective and home buyers are secured under RERA of their investment, sales will additional pick up, especially in the affordable segment, much to the benefit of the government's Housing for All mission. The government has taken some brilliant moves all in sync with the Master stroke of Demonetizing the higher currency from the market. And, since corruption and approvals' bottlenecks are major factors responsible for price inflation, demonetisation, coupled with the government's next big reform to introduce a single-window clearance system, will make property affordable for the masses. 

All in all it is a positive step taken towards increasing transparency in the Indian real estate industry.