PROPERTY BUSSINESS IN INDIA : REAL ESTATE

ACKNOWLEDGMENT
It gives us immense pleasure in acknowledging the valuable and cooperative assistance extended to us by the various individuals who have helped us successfully in completing our project. First of all we would like to thank Mumbai University for giving us this opportunity to study the subject of “BUSSINESS ENVIRONMENT”. We would like to show our gratitude to Prof. Jenny for her valuable assistance, encouragement and support on the topic “PROPERTY BUSSINESS IN INDIA:REAL ESTATE”. Lastly, we would like to thank our parents, friends & colleagues who have supported us during the making of this project. It is the encouragement of these people that has made us proceed towards achieving our goals.

CONTENT
 DEFINITION AND MEANING OF PROPERTY  GENERAL CHARACTERISTICS  DEFN & MEANING OF REAL ESTATETYPES OF REAL – RESIDENTIAL & COMMERCIAL.  SEZ  BROKERS  PROPERTY MANAGEMENT  PROCESS OF SALE OF PROPERTY  REAL ESTATE DEVELOPERS  BUILDERS IN INDIA  PLOTS IN INDIA  REAL ESTATE IN INDIA  LEGAL STRUCTURE  HOUSE RENT OPTIONS  FINANCE – FDI, NRI INVESTMENTS

DEFINITION & MEANING OF PROPERTY
Property is any physical or intangible entity that is owned by a person or jointly by a group of persons. Depending on the nature of the property, an owner of property has the right to consume, sell, rent, mortgage, transfer, exchange or destroy their property, and/or to exclude others from doing these things. Property is divided into two types: "real property" which is any interest in land, real estate, growing plants or the improvements on it, and "personal property" (sometimes called "personalty") which is everything else. (physical possessions belonging to a person), Important widely-recognized types of property include: private property (any property that is not public property property, owned by legal persons or business entities. It may be under the control of a single person or by a group of persons jointly), public property (state owned or publicly owned i.e any property that is controlled by a state or by a whole community) In other words "Public property," refers to ownership by a governmental body such as the federal, state, county or city governments or their agencies (e.g. school or redevelopment districts) and intellectual property (exclusive rights over artistic creations, inventions, etc.), although the latter is not always as widely recognized or enforced. A title, or a right of ownership, is associated with property that establishes the relation between the goods/services and other persons, assuring the owner the right to dispose of the property as they see fit. Property is not a relationship between people and things, but a relationship between people with regard to things.

have legal rights similar to those of citizens. For example. . because a tenant is only in possession and does not have title to transfer. Similarly. Therefore.  Further. Legal systems have evolved to cover transactions and disputes that arise over the possession. the owner cannot use their right to exclude to keep you from the property. and disposal of property. such as through joint ownership. even if the legal person is not a natural person. transfer. as a lessee of a particular piece of property. or. while you are a lessee. corporations. For example. For example. for example. property may be held in a number of forms. use. sole ownership or lease. the corporation is a juristic person or artificial legal entity. community property. if two people own a single piece of land as joint tenants then. under a concept that some refer to as "corporate personhood". In most countries. you may not sell the property. most particularly involving contracts. These different types of ownership may complicate an owner's ability to exercise property rights unilaterally.General characteristics  Modern property rights are based on conceptions of ownership and possession as belonging to legal persons. you may be entitled to stop paying rent or sue for access. each may have limited recourse for the actions of the other. if they do. one of the owners might sell their interest in the property to a stranger whom the other owner does not particularly like.  Not every person or entity with an interest in a given piece of property may be able to exercise all possible property rights. depending on the law in the jurisdiction.

For example. and light fixtures. Real property should be thought of as a group of rights like a bundle of sticks which can be divided. and things permanently attached to land and buildings. It is distinguished from the other type of property. Fixtures include buildings. Also called ‘realty’ or ‘real estate’. furniture and draperies are items of personal property. firmly attached and integrated equipment (such as light fixtures or a well pump). negligence. which is made up of movable items.DEFINITION &MEANING OF REAL ESTATE Land. use of airspace (condominium) or an easement across another's property. probate. heating. . buildings. and things attached to buildings. anything growing on the land. the right to get the property back (a reversion) if it is no longer used for its current purpose (such as use for a hospital. Property that is not affixed is regarded as Personal Property. family law and criminal law Real estate is the modern term for land and anything that is permanently affixed to it. school or city hall). 1) all land. fences. such as plumbing. 2) one of the principal areas of law like contracts. right to occupy for a period of time (tenancy or life estate) the right to drill for oil. structures. personal property. and all "interests" in the property which may be the right to future ownership (remainder).

7% of the total Land Mass. Farm Lands are becoming the exclusive property of the rich and famous as of late they have realized the unique qualities of Farm Lands. as they can be in the lap of picturesque valleys replete with streams. Private Piece of Beach in Goa. due to the growth of .287. Market Plazas. the NRI and the mercantile groups have found Real Estate Lands as Good Investment Sectors. In addition. There are different types of land in India about 54. and parts where snowfall prevent any cultivation are barren. mainly the land areas of Rajasthan. With the people becoming mobile due to transferable jobs. Barren Land . Shopping Complexes as all International brands are making their presence felt in India in a big way with along many new local Retailers. All the Indian Cities are suddenly experiencing a boom in Marts.Indian people are mainly employed in Agricultural activities thus agricultural land is almost 54. the growth of houses and Apartments have increased manifold all over India. parts of Jammu. Malls. Information Technology and Business outsourcing.Within the land mass of India. . All Metro Cities have huge boom of Real Estate Properties. New Industries.Economy.263 sq km. Leh. Real Estate lands are growing at a tremendous rate in India. There is a stiff competition in acquiring the best of farmlands. Pondicherry etc or private Havelis in Rajasthan. Commercial Land is becoming pricier day in and day out.7% of it is cultivated land.Types of Land India covers a land area of 3. Usually the agricultural land shares space with the Industrial areas outside the city. The agricultural lands are located on the outskirts of the Metro Cites. There are Agricultural lands in almost all the States of India. The several types of land available in India are: Agricultural Land .

These include single-family homes. living. multi-families. Posh places or places with less of space have developed Apartments to cater to more people. Farm Land is fast becoming the best option for investment. It derives all or nearly all of its income . apartment buildings.e. Thus. Residential real estate involves the sale and rental of land and houses to individuals and families for daily living. etc. RESIDENTIAL REAL PROPERTY What is Residential Real Property? Business Definition for: Residential Property Buildings and land which are used for residential purposes i. Commercial real estate involves the sale and lease of property for business purposes. Residential Land is fast becoming scarce in the mad rush to stay near work places and near to City centre.The Trend of love for Nature and due to less available space in City Apartments. TYPES OF REAL ESTATE The two major types of real estate are commercial and residential real estate.

housing complexes and luxury housing units. Bangalore. One can find the names of major . One can find complete real estate property listings in residential real estate for sale. Residential Property Market The Residential Real Estate Developers In India have ventured out full time into construction and development of large-scale housing projects in order to cater to the demand of residential property for sale. Even the number of Residential Real Estate Agents and Brokers have increased manifold in the past few years. Bangalore. Pune. Residential Properties in India Residential properties in Delhi. Kolkata. The residential property news is a clear indication of the current trend in Indian residential real estate market. Chennai and Hyderabad but also the upcoming surrounding areas specially the SEZ's . The real estate agents and brokers also guide you about the various Residential Real Estate Loan Schemes available in the market and also the residential real estate investing opportunities that would yield the maximum returns. residential real estate for rent and leasing of residential properties in India. The residential real estate developments in India are not restricted to just the metro cities like Delhi. India residential property is a magnet for not just the local real estate developers but also the foreign investors especially the NRI Investments in India have a major chunk into the residential property market. Residential property in India is a luring market. Mumbai. Residential real estate market in India has seen mounting prices. Pune. Gurgaon and other major cities record the maximum prices as well as sale. India has seen mass developments in residential plots. Mumbai. A survey of the Residential Real Estate News is sufficient to give a gist of the situation of residential property prices.from dwelling units.

conglomerates venturing into residential real estate developments. The Development Authority conducts residential real estate auctions for the sale of residential plots and properties. Hyderabad. hotels and business houses. What is Commercial Property? BUSINESS DEFINATION for: Commercial Property Buildings and land which are used for performing business activities are called Commercial property. The residential real estate companies provide Residential Real Estate Valuation and Property Management Services that can help determine the residential real estate value of the existing property you intend to sell or the values of the residential properties to buy. They also determine the Residential Property Taxes to be paid to the government. factories. It derives its income from non-residential sources. . Mumbai. Regularization of construction works on an allotted piece of land is also the work of the development authority of that area. and Gurgaon etc. They also list the real estate agents and brokers dealing in residential real estate in India. All the Leading Residential Real Estate Developers are also registered with the governmental body. It can include a single/more offices. Bangalore. Residential Properties for Sale in India The Indian government provides development plans that will list the residential property for sale in the various cities of India like Delhi. Residential property act lays down the guidelines for sale and renting of residential property in India. Chennai. buildings. Pune.

If any part of the commercial property extends into a residential or industrial zone. which means some commercial property may be used for residential purposes.Commercial property is real estate intended for use by for-profit businesses. The zones which separate industrial. such as office complexes. Sellers of commercial property may also agree to make improvements to the land. and arrangements can be made to buy or lease smaller lots. residential and commercial property are clearly marked on city maps. such as grading off uneven spots or clearing out unwanted trees. A professional developer may purchase huge swatches of commercial property simply to guarantee its availability for later projects. special permission to cross over a zone boundary. Commercial property definitions may include industrial usage as well. then the city will allow the sale to proceed for the stated use. shopping malls. Cities often use zoning laws to prevent conflicts between residential homeowners and businesses. the city government must determine that the chosen area is indeed commercial property. Commercial property may be purchased outright by a developer for future projects or leased through a real estate broker. Commercial property can be held by real estate agents who treat it the same as residential property. This helps to keep traffic to these sites manageable. Some areas of the city may be designated for 'mixed usage'. Land designated as commercial property is rarely located in the middle of residential zones. Heavier industries often purchase property on the fringes of cities or in . then the buyer must seek a 'variance'. In order to grant permission to build a new office complex or other profit-making business. however. Signs advertising the availability and size of the commercial property can be erected. Commercial property falls somewhere between residential and industrial property. service stations and restaurants. If the proposed business is clearly in an area zoned for commercial use. City planners encourage commercial businesses to congregate along busier streets and central downtown areas. A quaint downtown shopping area with apartments would be an example of mixed usage. although zoning laws still regulate the level of industry permitted. Practically every incorporated city uses a zoning system to regulate the use of property within its jurisdiction.

unincorporated areas. to buy or to lease. rates of commercial property to rent. Some commercial property zones in the city do allow for light industrial usage. Certain commercial real estate companies also provide property valuation and Property Management Services to help you estimate the value of your commercial property for sale. Commercial real estate developers engage in mass developments of commercial properties for sale. Commercial Real Estate Agents and Brokers give you commercial property information regarding the commercial property prices. The Property Valuation Methods are followed as per the guidelines laid down by the Development Authorities in India . for rent and for lease. They also provide info on Commercial Property Loan and interest rates on real estate loans. Along with these the development authority also undertakes commercial properties auctions . to let. for rent or for lease purposes. and office spaces etc. commercial property developments in your area and many more. Find Commercial Property in India Commercial property sales have touched new heights demanding larger spectrum of commercial property developments and keeping the commercial property developers busy. Commercial properties are on an upswing because of the expansion of the Indian consumer market. The commercial property news shows leading real estate developers engaged in construction of shopping malls. usually smaller factories with minimal emissions Commercial Properties In India Commercial properties in India have a huge market. commercial complexes.

Pune and other major cities.and regulates the Commercial Property Tax and property law. and other metro cities to the Leading Real Estate Developers and Builders in India . and transportation needs. Commercial properties auctions include auction of commercial plots. Commercial Real Estate News provides the ongoing trends in the commercial properties market and also the latest commercial properties developers and their real estate developments. Chennai. Many Banks and Financial Institutions provide commercial property finance. Among the highest value commercial properties are commercial real estate in Delhi. constructed office complexes. Bangalore. Even the commercial property auctioneers target the commercial properties and plots in Delhi. the major share being that of NRI Real Estate Investments . The commercial real estate in India also attracts mass foreign investments. Mumbai. The rental and leasing of commercial properties is also fast gaining popularity among the commercial property investors. Benefits of investment in Commercial and Residential property . Mumbai. Gurgaon. Gurgaon. Also get info on the commercial property rates of the commercial realty through commercial real estate news. Bangalore. Pune. shopping malls and retail stores all over India.

which can be important in particular if this is your first investment property. Knowing the fact that residential leases are shorter than commercial ones. you have to decide which suits you better: residential or commercial? Mostly. people think of investing in residential property while commercial property has its rewards too. . residential properties are generally easier to rent because it is comparatively easier to find a residential tenant. Commercial tenants maintain the property better as its condition is much important to their business and their staff. The lease provided by banks tends to be much longer ranging between three to 20 years . The return on invested capital on commercial properties ranges between seven per cent and 10 per cent net after deducting all costs. the safer your investment will be.At the personal level. The benefits of investing in commercial property This acts as a bigger source of income. The benefits of investing in residential property We need smaller investments in residential properties as compared to the investment made in commercial properties.and they are quite good which makes them a secure investment. Lease contract also adds protection for the owner in the form of good clauses. the better you are able to know your market. maintenance clauses and management clauses made. The more you research residential or commercial property.

The SEZ norms and rules vary from country to country and region to region. SEZ land involved also decides the SEZ policy for the SEZ approvals. The SEZ Act in 2005 established India Special Economic Zones formally. SEZ notification as mentioned in the SEZ Act includes: o o o o To augment additional economic activity by attracting foreign direct investments To Promote of exports of goods and services To promote of investment from domestic and foreign sources To create more employment opportunities .SEZ India Website. SEZ India Projects SEZ or Special Economic Zones are specially demarcated geographical regions that have more liberal economic laws as compared to the centralized laws of the country. The very purpose of a SEZ is to develop the area covered under the special economic zone by following special economic policies. This special economic zone act 2005 set the guidelines and procedures for acquisition of SEZ land and SEZ development following the proper SEZ laws. The SEZ act 2005 announced the SEZ policy in India for setting up of any special economic zone in India. The SEZ history dates back to 1965 when first export processing zone was set up in Kandla. Further amendments were made through SEZ Act 2006 and SEZ policy 2007. India Real Estate Investments have attracted huge foreign funds and thus the special economic zones in India have increased by and large. SEZ concept itself gives the SEZ definition. primarily in the developing countries is to attract mass foreign investments in the country. That was the instigation of SEZ's in India. Maharashtra. SEZ In India The basic motive behind developing a special economic zone like SEZ in India or SEZ in China.

External commercial borrowings of upto 500 million USD a year without any restriction of maturity to the SEZ developers. Most Real Estate Developers In India are interested in setting up a SEZ to cash in the india real estate bubble by acquiring SEZ land at cheap rates and creating a land bank for themselves India Real Estate holds a special section for SEZ where details regarding the SEZ news and notification. listing of SEZ developers. SEZ consultants and consultant agencies. the local inhabitants and the country as a whole Exemption from payment of stamp duty and registration fees on the lease/license of plots to the SEZ developer. The SEZ Benefits are: o o o SEZ's offer economic progress to the area. SEZ companies group engaged in development of special economic zones in India and others deserve special mention.o To develop infrastructure facilities of global standards SEZ India Benefits The SEZ India Website lists both the SEZ advantages and SEZ disadvantages. SEZ Disadvantages Special economic zones and the SEZ projects have instigated certain SEZ controversy and a SEZ debate regarding the SEZ Disadvantages: o o Revenue losses due to various tax exemptions and tax benefits awarded to the India special economic zones. upcoming SEZ projects. SEZ Projects in India .

bonds. surrounding areas of Pune. or services. Manesar. Bangalore. Kochi. Kanpur. Rajasthan Owing to the mass attraction of SEZ's in terms of the SEZ benefits or advantages. Hyderabad. Nagpur. and DLF . Nadigram. Some of the names that deserve mention here are Mahindra & Mahindra with Mahindra World City in Chennai and Reliance Industries along with Haryana Government and coming up Special Economic Zones by Leading Real Estate Builders And Developers in India like Unitech India Ltd. major Indian conglomerates are jumping into the SEZ development bandwagon. commodities. Jaipur. Dehradun. Andhra Pradesh Falta And Salt Lake in West Bengal Noida. The broker is an intermediary or negotiator in the contracting of any type of bargain. WHO IS REAL ESTATE BROKER? An individual or firm employed by others to plan and organize sales or negotiate contracts for a commission. acting as an agent for parties who wish to buy or sell stocks. Tamil Nadu Vishakhapatnam. real or Personal Property. A broker's function is to arrange contracts for property in which he or she has no personal interest. Goa.Noida. Maharashtra Cochin.Presently around fourteen major special economic zones functional in India: o o o o o o o o o Santa Cruz. Madhya Pradesh Jaipur. The newer areas attracting SEZ development are Navi Mumbai. and Karnataka. A distinguishing feature between an agent and . Surat. possession.Gurgaon. or concern. Greater Noida in Uttar Pradesh Indore. Indore. Mumbai. Kerala Kandla And Surat in Gujarat Chennai. Rules applicable to agency are generally relevant to most transactions involving brokers. An agent's powers generally extend beyond those of a broker. The client is considered the principal and the broker acts as the client's agent.

REVOCATION OF LICENSE The state's concerns regarding brokers extend beyond initial licensing to the establishment of conditions for the maintenance of a license. and the acquisition of mortgages for others. In some states it is illegal for any person other than a licensed broker to be paid for services concerning real estate transactions. The sale of residential property is heavily regulated. any individual who regularly works as a middleperson or negotiates business transactions for the benefit of others is ordinarily considered a broker. or rental of real property on a commission basis. and pass a written test on real estate principles and law. All states require real estate agents and brokers. to be licensed. . When a broker arranges a sale. he or she is an agent of both parties. and technical court rules generally are not observed. he or she is generally required to acquire a license and pay a fee. Within the meaning of such laws. Such proceedings are ordinarily informal. In order for a broker to engage in business. An individual only casually involved in brokerage through the arrangement of only a few sales would not be considered to be engaged in the business of brokerage. To get a license. The power to revoke a license may be vested in a specially designated commission that exists primarily to hear complaints about the fraudulent practices of brokers. Real estate brokers or agents are hired to transact the buying and selling. In order to determine whether or not an individual is acting as a broker in a transaction. A Municipal Corporation has the power to regulate brokers who function within its boundaries if authority to do so is granted by the state. Laws exist that impose a license tax on brokers. They may also counsel and advise people who wish to buy or sell real estate Regulation and Conduct of Business The business or occupation of a broker may be regulated by the state under its Police Power. The state may provide for the revocation or suspension of brokers' licenses for reasonable grounds.a broker is that a broker acts as a middleperson. lease. Brokers who conduct business without a license can be fined by state licensing authorities. They can also be involved with the purchase and sale of lands. a person must have a high school diploma. who earn a commission from the owner of real estate for selling the property. be at least eighteen years old. It has been held by a federal court that a statute requiring brokers to obtain a license was only applicable to those people regularly employed as brokers. the type of services that are performed must be examined.

The compensation of a broker is based upon procurement of a client who is willing and able to purchase. Of paramount importance is the prospective buyer's ability to provide the required funds at the suitable time. the commission is presented with evidence relating to the broker's conduct and must consider whether such conduct warrants denial of the privilege to engage freely in business. . A broker who has properly performed his or her duties should not be denied a commission due to a failure by the parties to consummate the deal. Commissions: A broker is ordinarily compensated for services by the payment of a commission.During a hearing. It has been held by some courts that the failure of a broker to disclose material facts within his or her knowledge will create liability. while selling a house a broker states that there are no concealed defects in the house. Grounds for revocation of a license are generally based upon Fraud. a broker's license can be revoked or suspended if a broker is guilty of RACIAL DISCRIMINATION in the selling and leasing of property. Generally. and an agreement is reached. based upon a portion of the value of the property in a particular transaction. The specific terms of the transaction must be satisfactory to the broker's client. the conduct of a broker in negotiating a real estate transaction on behalf of his or her principal is subject to strict fraud and deceit standards. Within the meaning of fraud is the pretense of knowledge on the part of the broker while executing a real estate transaction where no knowledge actually exists—for example. The ordinary basis for the calculation of a percentage commission is the total sale price of whatever is sold. or bad faith in dealing with the public. a sale must be completed for which the broker has been employed. dishonesty. A real estate broker's license may be suspended or revoked if duties are performed unlawfully. although he or she does not actually know if such defects exist. A real estate broker's license may be revoked or suspended because of Misrepresentation used to effect a purchase or sale. Generally. It is customary for a broker to deduct and reserve the amount of commission from funds obtained by him or her for a client. incompetence. In order for a broker to be entitled to a commission. The broker's right to a commission is not dependent upon the finalization of the transaction unless otherwise agreed upon by the broker and by his or her client. equal to those imposed on his or her principal. a commission is earned when negotiations between a buyer and seller are completed. In addition.

industrial and/or residential real estate.In the absence of any agreement to be employed by a client. PROPERTY MANAGEMENT Property management is the operation of commercial. Similarly. Mere Negligence in the execution of duties. a broker is not to be compensated for voluntary services. systems and manpower required to manage the life cycle of all acquired . but as new technologies continue to develop. tooling and physical capital assets that are acquired and used to build. thus enhancing the ability of the brokers to serve their clients' interests. Once a broker has earned his or her commission. Probably the most significant developments have been related to communications. Property Management is also the management of personal property. does not automatically defeat a broker's right to compensation. This is much akin to the role of management in any business. Economic problems in the early 2000s slowed the development of the role of the broker. a client may not terminate the relationship and complete the transaction himself or herself in order to avoid paying the broker. The rise in Internet usage in the 1990s also caused a number of changes. Some changes were different methods in day-to-day communications. as new technologies have allowed brokers to communicate with their clients in a variety of means. Future Roles of Brokers Technology affected the roles of practically all types of brokers. repair and maintain end item deliverables. Any fraudulent misrepresentations or evidence of bad faith on the part of the broker will defeat his or her right to a commission. Property Management involves the processes. as registered brokers began to serve as online customer service representatives for prospective buyers. This rule against the payment of a commission is absolute—regardless of whether or not the sale is made to an individual whom the broker initially produced—provided the broker was given ample opportunity to complete the transaction and failed to do so. in the absence of bad faith. the role of the broker was expected to continue to evolve. compensation is not due a broker when a sale is made by an owner after the broker-client relationship has been terminated. A common type of termination is the expiration of a real estate listing. such as the common use of E-Mail and fax machines. equipment.

Duty of property management companies incorporate accepting rent. A property manager should be informed with new laws and practices in their given localities. Accountability. This is analogous to the role of managing events in any industry. and disposition. contractors and insurance agencies. Property Management Property management is defined as the responsibility of managing the multiple aspects which accompany the ownership of real estate. Control. cities and states. Utilization. One important role is the liaison between the landlord and the tenant.property as defined above including Acquisition. but one should consult experienced real estate agents/ agencies to make sure it runs smoothly. set aside for trained attorneys.the process You know how great your home is. Selling property . The selling process can seem complex. Litigation alone is at times considered an entirely separate function. and doing credit and background checks on tenants. but when you sell your property. The many facets to this profession include participating in and/or initiating litigation with tenants. you have to convince someone else. responding to and addressing maintenance issues. The following are the main steps: Step 1: Appoint an estate agent Step 2: Spruce up your home . Maintenance. advertising vacancies for landlords.

. The commission rate for a multiple agency sale will be higher than for sole agency. There are two ways you can appoint an estate agent. who will all try to sell your property. When you first meet your estate agent.Step 3: Get your Home Information Pack Step 4: Agree the sale Step 5: Up to exchange of contracts Step 6: Complete the sale Step 1: Appoint an estate agent The first step in selling your property is to appoint an estate agent. that’s exactly what you have to do and first impressions count for a lot. they’ll give you an estimated value for your home. But if you want a successful. because that agent has a greater chance of being the one to find your buyer. Step 2: Spruce up your home We get so used to the places we live in that it’s sometimes hard to see them through others’ eyes. Sole agency is where you give the job of selling your property to a single estate agent for a fixed period of time. and a commission rate for both sole agency and multiple agency. quick sale. Multiple agency is where you instruct several estate agents at the same time. Accept an offer via another agent and you might have to pay more than one fee. who’ll value your home and show it to potential buyers. The commission rate for a sole agency sale will be lower than that for a multiple agency sale.

the address of the property being sold and whether it’s freehold or leasehold Registered title documents – details from the Land Registry of the owners. The main elements of the pack are    Energy Performance Certificate – assesses the energy efficiency of the property from A (best) to G (worst). Here’s a few tips to get you started Making your home more saleable      Think like a buyer – don’t overlook flaws just because you don’t mind them or you’re used to them Reduce clutter – get rid of everything but the bare essentials Decorate neutrally – buyers need to be able to see it as their own home Keep it light – clean the windows and use light colours Outside and in – buyers will often walk or drive past first.A few hours spent making your property look its best or even spending a bit of money to clear up some niggling problems could add to the price you get from a buyer. and fresh paintwork and well cared for outside spaces make a great first impression You’re ready for your estate agent to start showing buyers round. Step 3: Get your Home Information Pack A Home Information Pack (or HIP) collects together many of the documents a buyer needs. any specific covenants and a map showing the property and its exact boundaries . and gives information on how to improve it Sale statement – gives the name of the of the seller or sellers.

It can be quicker to sell to first time buyers.this is issued by the HIP provider and must be completed by the seller. or people who have already sold their previous place. Your position – are the buyers able to move in time to suit your plans and timescale? . but it may come from a number of different sources Search results – standard searches reveal issues that might affect the property now or in the near future. investors. though this is quite rare these days. If a property has an unregistered title. We will present each offer to you and negotiate on your behalf to get the best result. potential flooding.    Unregistered title documents – some properties that haven’t been sold for many years aren’t registered with the Land Registry. you will be dependent on their successful sale. the pack must include similar information to registered properties. or any planned development Property Information Questionnaire (PIQ) .a copy of the lease Step 4: Agree the sale As your estate agent we will start to generate offers from interested buyers. such as drainage routes. Here's what information we will discuss with you:    Price – how much are the buyers offering to pay? Are they in a chain? If a buyer is still trying to find someone to purchase their home. It provides information relating to the ownership of the property and details about services such as council tax and the utilities Leasehold information .

The next stage is where the buyer and their mortgage lender carry out any valuations and surveys on the building and check that everything is as it should be with the paperwork. so this stage can take a little while. so they can get on with drawing up the contracts. you’re ready to exchange contracts and set a completion date. Step 5: Up to exchange of contracts The buyer will then provide the agent with their solicitor’s details. When this stage is complete. Completion is normally two weeks later. when the money gets transferred. and the property legally changes hands. As soon as you have completed the sale the property belongs to your buyer and they can move in immediately. you’re legally obliged to sell the property to your chosen buyer and they’re obliged to buy it from you. the conveyancing process will be complete. After you’ve formally exchanged contracts. It might even be possible to exchange and complete on the same day if you need to. Should you accept? Ultimately the decision is yours. but we'll provide all the help and advice we can to help you make the right decision. It’s quite normal for a few queries to be raised. which will then be passed on to the solicitor. Leaving a gap gives you time to make arrangements for moving out and tie up any loose ends. . but can be earlier. Once the seller has accepted an offer the good news is passed on to the buyer and then starts the drawing up of paperwork. You should plan to move out before your completion date.

and selling them. the conveyancers have successfully arranged the legal transfer.Step 6: Complete the sale Completing the sale is usually as simple as getting a phone call from your solicitor telling you that everything has gone smoothly. developers may hold degrees in real estate development. or come from a background as a real estate agent. and they may work for big companies which conduct real estate development on a large scale or use real estate development as one investment tool in a diverse portfolio. or architect. . Working as a real estate developer is very challenging. marketing them successfully. Real estate developers often work with partners to share the risk and the workload. Real estate developers tend to work on a big scale. contractor. or tour a decaying building and create a vision for remodeling and successfully selling it. Selling your property is now complete – congratulations! What Is a Real Estate Developer? A real estate developer is a real estate professional who specializes in creating new developments or renovating existing ones. People can approach a career as a real estate developer from a number of perspectives. apartments. This means both parties’ mortgages have been paid off and new arrangements put in place. A real estate developer can look at an empty lot and find potential in it. and the property officially belongs to your buyer. and so forth. Developers need to be able to assess a wide variety of future sites and determine whether or not they will be workable and acceptable. retail spaces. constructing multiple units which may extend into the thousands or renovating a building to create a number of saleable units in the form of offices.

and so forth. and a real estate developer must be able to be flexible and read communities well to meet their needs. and manage them effectively. A good real estate developer is also part of a much larger team. commercial real estate. New constructions in this field are experiencing phenomenal growth. Builders in India Real estate market in India is on upswing and builders in India are investing in all most all the parts of the country. Real estate developers may also travel across a wide region to work on development projects. Penthouses are some of the projects which are getting a lot of importance in residential sector.Experience in the real estate industry is critical. Many real estate developers pick a particular area of specialty. organize them well. contractors. Builders in India or property developers are buying plots in large number for construction of townships and residential complexes. ranging from friendly people in the planning office who may provide recommendations to help push a project through to allies on planning commissions and city councils who will promote their projects. Apart from this construction in commercial sector is also on the rise. Premium quality Flats. middle-class subdivisions. Developers have to select good teams. as a developer must know the market well to know whether or not a project will be successful. applying their skills to settings and cities which may be very different. such as highend residential properties. will not necessarily be as successful in Minneapolis. and numerous other professionals to see a project through from start to finish. Luxurious Apartments. Developers also need connections with local governments which will help them accomplish projects. politicians. meeting the needs of the project and the team members while staying in control of the overall development. for example. landscapers. farm houses. . Independent homes. He or she needs to work with architects. real estate agents. A development which appeals to the high-end residential market in New York City. low-income housing.

Builders in India Achievers Builders Adarsh Developers Ansal Buildwell Appaswamy Real Estates BPTP Real Estate Chaitanya Builders Chennai DLF Group India Ansal Housing Alpine Group Ansal Plaza Ansal API Ansals Ashiana Housing Brigade Group Bangalore D S Kulkarni Emaar MGF Arun Dev Builders Ashiana Builders Developers B Raheja Confident Group Dwarkadhis Builders Future Group Bearys Group CREDAI Eldeco Infrastructure Group Gaursons Eros Group GMR Infrastructure HDIL Issue Jaypee Group Kanakia Group Godrej Properties Goel Ganga Group HDIL Hiranandani Real HUDCO Estate JMD Group K Raheja Universal Jaipuria Group Kalpataru Group . shops. big Corporate Offices. Amusement and Recreational parks etc are attracting investment from builders in India. Cochin. Surat. Property developers in metropolitan cities are expanding their vision and investing in smaller cities also like Pune. Movie Halls. and Vadodara etc.Shopping malls. Coimbatore.

the market for Plots in India is bound to develop further. A new industry of Real Estate Agents (more popularly known as the property dealers) and property investors has developed who keep a constant track of the available plots for sale in India.Kolte Patil Developers Kumar Builders M Tech Developers M2K Developers Builders Mont Vert Builder Developers Panchshil Builders Prestige Homes Mahagun Builders Mahindra GESCO Mapsko Group Developers Navin Housing Oberoi Constructions Pushpanjali Builders Sobha Builders Omaxe Group India Prestige Builders Parsvnath Builders Piyush Group Purvankara Raheja Developers Sahara Infrastructure Shipra Real Estate Shriram Group Sobha Developers Supertech Builders Developers Triveni Infrastructure Group Vipul Group Shapoorji Pallonji Shipra Group Larsen-andToubro Tata Housing TDI Constructions TDI Developers Unitech Group India Vascon Engineers Vatika Group Plots in India Plots in India have created a buzz in the global real estate market. the prices of both commercial and residential plots in India have registered more than 200% increase making the property investors fairly rich. Within the past decade. One cannot ignore the NRI Real estate investments flowing largely into the undeveloped Land in India that has fetched such high capital growth luring all the more . With the relaxation in the property tax laws and Real Estate in India opening its gates to 100% FDI in real estate sector and inflow of Real estate mutual funds.

Indian Real Estate Real estate in India is a bubble that seems to be blown in to maximum each time we hear of a price rise in the Indian realty sector. mega malls. But then the myth is broken and a fact is established stating there's room for more. The real estate discussion forum and Blog discussions have become a trend amongst enthusiastic property and realty investors. townships. complexes. The realty prices have risen sky high. The for sale real estate listings include everything from residential houses. apartments. The real estate trends that were more orthodox have undergone a paradigm shift to a more contemporary and modern outlook with a bloom in the realty situated in far away and more serene surroundings. entertainment centres. Indian Real estates are a good fund-attracting site for the NRI's and other foreign investment seekers. Real estate construction companies have ventured into mass development projects that sometimes include development of integrated townships that are small self-sufficient cities among themselves. office spaces and industrial set ups. A most recent real estate report of the year 2007 shows Bangalore and Chennai as the cities most affected by the bloom in the real estate market in India. Real Estate In India. buildings to commercial and retail shops. This shift has given the Indian real estate industry a newer opportunity of developing land that was otherwise considered useless and provide the tranquility of the mountainside holiday destinations right in your home. The real estate news shows a never ceasing expansion in the real estate developments everywhere. The Indian real estate market has developed from the local 'thekedaars' to real estate agents and realtors. Real estate sector has proven to be the best returns opportunity for investment of the long saved funds.investors. The realtors and real estate agents in these cities are the happiest of the lot . More real estate companies and group have been established in the recent few years.

raw materials customized. The real estate laws have also changed with emphasis on the customer demands rather than the builder choices. Real estate development jobs are not mere acquiring land and constructing on it. rent or lease. Many sites provide an online real estate directory that provides all Indian real estate listings and Real Estate Builders. some laws require an inspector to visit the property to determine if there are any problems. Failure to disclose this information can result in the revocation of the purchase agreement or a lawsuit by the buyers against the seller for Fraud. sell. home buyers have been given additional protection under the law. such as a wet basement or the presence of termites.getting plum commissions because of the excess demand of the property in these areas. LEGAL STRUCTURE Since the 1970s. You can also research on the real estate business in India. Many websites also function as real estate portals and deal in property buy. Agents and developers. A seller must disclose any problems with the home. the trends of the Indian realty market and get the latest report and news on the Indian real estate property. In addition. state-of-the-art infrastructure and techniques employed and perfect finishes are provided to give the made-to-order finish to each unit. Many states and municipalities require a seller of real estate to file a truth-in-housing statement. A strategic following of this trend can ensure the best real estate product and hands down sale opportunity for the realtors as well. a comprehensive listing of the Top Builders and finance schemes providing institutions as well. the layout designed. on the form. On this website find all you would like to enquire about the real estate market in India. . the real estate listings. The whole realty development procedure involves careful planning about the location of the project and the desired customer base targeted then comes the land acquisition and then accordingly a topmost architect is consulted.

property transfer and inheritance issues.C. The entire process of land registry or house registry can be quite a nuisance if you do not have a real estate attorney briefing you about the legal formalities and documentation procedures to be followed. These costs typically include the cost of property surveys. RESPA mandates that a federally insured lending institution give the buyer advance notice of all the costs to be paid on the date of closing the transactions.A. if transferred the legal authority of the transferee.) to ensure that the buyer of residential real estate is made aware of the many costs associated with the sale.Most purchases of residential real estate require the buyer to obtain a mortgage from a bank or other lending institution. All kinds of property registration and firm registration in India are done at the Sub Registrars office that also holds all records of any previously registered property in India . appraisals. § 2601 et seq. which means that if the borrower defaults in paying back the mortgage. legal ownership document. The lending institution receives a security interest on the real estate. title searches. Registration & Attorneys Property Registration in India ensures the ownership rights to the person in whose name the property is registered. clearance certificate from urban land ceilings . and administrative and processing charges. The federal government enacted the Real Estate Settlement Procedure Act of 1974 (RESPA) (12 U. You will find many private service lawyers or government attorneys who can advice you on the legal matters.S. the institution can obtain title to the property and resell it to pay off the mortgage debt. date of purchase of the title. House Registration Process in India The exact process includes 6 steps: Step 1: Search the Property Registration The property location. brokers' fees.

electricity and water bills and any previous alterations in the property registration are the points that require careful scanning. Step 4: Final Registration The house registry or land registry is then stamped. The final deed is printed out on a green paper with stamp duty stamp affixed on it. The documents are handed over to the buyer within 30 minutes of submission of the payments receipt. This involves a fee of 1% of the property value and might take 7 days again. payment of all dues like property taxes. executed. Step 2: House Registration Agreement This process takes place at the Local Stamp Duty Office and takes around 7 days to complete. and finally registered in the presence of seller.authorities. Then at the payment of 1% of the transaction value or Rs.000 and take 5-7 days to complete. 100.000 whichever is less. 10. The fee involved is Rs. Step 5: Submission of Documents The completed home registry is then submitted to the Reader of the Sub Registrar of Assurances for scrutiny. This process takes just 2 days to complete. The seller then hands over possession of the property to the buyer. Step 6: Mutation of The Title of The Property The purchaser now has to apply to the local Municipal Authority to get the title of the concerned property mutated in his favor with all the relevant . 30. This entire process can cost up to Rs. buyer and two witnesses at the office of the SUB Registrar of Assurances at 5% market value of the property as Stamp Duty. the documents are presented before the Sub Registrar. Step 3: Preparation of Property Sale Deed This is done by an authorized house registration attorney on behalf of the purchaser.

particularly in bigger cities is widening. Housing Rental Options Houses on rent in India are providing accommodations to thousands of families who cannot afford to buy homes of their own. Here is a list of sites to help you finalize all the necessary documents. The sites are listed to assist you in all matters relating house registration and documentation. This puts a pressure on the segment of house rentals and we find house rents soaring. employees of a company transferred to some other location on a short term assignment and businessmen who often require to visit a particular city for commercial purposes are the categories of people that find rental houses the most suitable for their requirements. Moreover. As the housing needs for different categories of people vary. The Municipal Authority then assigns the property value for levying property tax and then issue a letter of mutation in favor of the purchaser. Home Rentals in India Although builders and housing boards in India are leaving no stone upturned. quite frequently. The growing population of the country and demographic shift towards urban areas are also playing their parts in aggravating the scenario of housing rental in most of the cities.documents that your Real estate attorney would guide you about. we find the most extensive range of rental homes in India from the modest and affordable ones to the most luxurious and highly expensive ones. The houses available on rent in most of the cities are in the forms of single room . so do the options available for renting a house. it would either be a short term rental accommodation or a long term rental accommodation based on the rental agreement papers signed by the tenants and the landlords. Houses for rent are also hunted by professionals seeking jobs in bigger cities and visitors who want to stay in a tourist destination for a longer period. House rents also vary from one city to another and even from one location to another within the same city. Students temporarily shifting to another city in pursuit of higher eduction. There are several other occasions when we thoughtfully look for houses on rent. Hence. to newer levels in every category. the gap between demand and supply of residential accommodations.

villas.flats or double room flats. next thing you want to know how big a house you want. To assess the area requirement one needs to understand the following concepts of saleable area:    Carpet Area Built up Area Super Built up Area Buying a Property in India While locating a property. we have well furnished apartments. A Home in your Budget When you have decided on the budget. Shopping complex.com. In major cities or metropolitan cities. If the property you are buying is for actual use then you need to consider whether that area has sufficient infrastructure. For premium category of home seekers. duplexes etc. with good interiors and cozy environments. Power back up. such as corporate professionals and businessmen. you can take the help of real estate websites. Hospitals and other health centers or clinics and chemist shops Bus stations Recreational facilities Entertainment outlets . Area is generally measured in terms of Square Foot or Square Feet. There are other property sites also that offer you similar kinds of services and are being mentioned on this page. bungalows. the buyer needs to be clear whether the property is only for investment purposes or for actual use. Water supply. This depends on your family size and your needs. This will include:         Access to roads. To search availability of houses on rent in a city. It is also possible to get rental apartments with two or three bedrooms options. This is because the various real estate services provided by property dealers in India let you live in a rental house as long as you wish without any hindrance. While renting a home anywhere in the country. such as indiahousing. it is a good practice to involve a property dealer. flats are generally sold on the basis of built up area or super built up area. penthouses.

so that you can stay as long as you wish and leave the moment your purpose of stay in the city ends. and of course by charging a reasonable amount of fee on both the parties of a transaction. Thus. too. whether we need to buy a residential house or a commercial one. Indeed. some of which may want to buy and the other to sell real estate properties. They are those without whom hunting for a house for Property in India can become an arduous effort. brokers and property dealers have made buying property in India simpler. the professional help of property dealers will bring you the right client. Real Estate Agents. plots of land or residential houses. Property dealers do not assist us in buying a real estate property alone. Rather you like to rent out a portion or the whole of it to some tenants so as to ensure a regular income out of it. Just set your eyes on a reliable builder and identify the property. if you are a property owner yet do not want to sell it altogether. In this case. In this sense. It is not only the selling and buying of a real estate property that are being dealt by a real estate agency in India. Even if. This is because they are the professional people who keep in constant touch with different types of clients. Similarly. then also we seek the help of real estate agents. which have least risk involved.Property Dealers in India When our house hunt or search for Property In India begins. When we require to sell our properties for any reason. the property dealers work as middlemen and help a property owner meet prospective buyers easily and surely. . The wide range of properties offered for sale and with various attractive facilities lures the buyers and are sometimes misleading also. those who are going to be there right from the start to the end are the property dealers and real estate agents. you do not want to own a house by purchasing since you do not intend to live in that particular place for long and are looking for a house on rent. many people and institutions start getting associated with us. we take assistance from real estate agents in India. Among them.  Educational institutions Fully landscaped (optional) etc.

selling home. The Group is currently developing in excess of 29 million sq.Property Dealers in India: Multiple Services There is a number of other real estate related jobs in which the helpful support of property dealers will see you through them quite easily and almost certainly. The real estate agent of a particular locality has full knowledge about the availability of residential properties. ft. Lodha Group is a premier real estate developer headquartered in Mumbai. their current capital values and the rate of appreciation. of prime real estate over 38 projects in Mumbai. Renting home. Lonavala and Hyderabad making it one of the largest developer in the country. on this page. apartments and have contacts with some of the top builders and property developers. This can help you in taking accurate decision regarding real estate investment. Hence. you many need their advice and help in hiring the services of building contractors. Pune. Property dealers deal in flats. The group is now . So. leasing home. Buying home. Similarly. you can get a true picture of the real estate market of that particular area. we have listed a number of property dealers and real estate agents operating across India who have vast knowledge of India Property and the real estate rates in India. Established in 1980. real estate agents have knowledge in all fields. Getting home loans and getting your newly acquired house registered at the local authority may become smoother and hassle free. home architects and interior decorators.

From luxury garden residences in South Mumbai to large integrated townships in the suburbs. In 2007. world-class solutions leading to several innovative firsts to its credit . it works with leading financial Institutions.Mumbai's first water inspired township. Lodha Group has created an entirely new residential category . an unparalleled super luxury residential project in Hyderabad and is soon expected to launch its first project in Pune. weekend retreats and townships. A new sub-brand CASA by Lodha was created for this category. IT campuses. The Group currently employs over 1250 professionals. world-class solutions. The group continuously strives to exceed the expectations of customers through innovative. the group caters to diverse consumer needs across all segments. providing 'right sized' and 'right priced' products in Mumbai's suburban locations. With a vision to build better lives.expanding into Western and Southern India and recently kicked off their geographic expansion by launching Lodha Bellezza. .Mumbai's first "By invitation only" project which is the only Indian residential project amongst the top 1000 landscapes in the world. thereby creating value and at the most opportune moment. In addition.be it Lodha Bellissimo . Lodha Luxuria . with essential quality and luxury endorsement. designers and product manufacturers to bring together the most premium offerings for its customers.mid-income luxury. Lodha exceeds the expectations of customers through innovative. The Group focuses on development of residences and office spaces in various formats including standalone projects.Mumbai's first 'Fully Automated Township' or Lodha Aqua . the group received one of the largest ever FDI in the real estate sector in India.

where it was one of the first in India to introduce the concept of branded office spaces through its unique offerings: Lodha Excelus . iThink by Lodha . Lodha Group has attracted top talent from premier institutions and Bschool campuses. the group has consistently delivered luxury lifestyles through innovative solutions. hired professionals from benchmark industries and built a proficient management team. Lodha Group was ranked second in the list of "most sought after for PE investment in the realty sector.Signature offices catering to front office requirements of large corporate. targeted specifically at mid-sized businesses.Lodha Group has extended this philosophy to office spaces as well.Signature boutique offices. not just by building structures but by building better lives. Lodha Supremus . According to the JP Morgan Property Report 2008. HIERARCHY . Also selected as one of India's top 10 builders by Construction World.the ultimate IT destination for large back office needs and the recently launched. With a focus on building a world class organization.

Drama. primary and secondary sections. Computer Training. These schools focus on creating well-rounded individuals through a blend of excellent academics and extra-curricular activities such as dance (Indian and Western). . to create a better life for its brethren in the society through proactive social initiatives. EDUCATION Two schools by the name 'Chandresh Lodha Memorial School' are run by the group to provide good quality education to the under-privileged.SOCIAL INITIATIVES The Lodha Group's vision of 'Building a Better Life' extends to its social responsibilities to the society and the community at large. Located in Mumbai's two upcoming suburbs Dombivali and Nalasopora. Yoga & Meditation. each school has more than 4000 students across the pre-primary. Fees are made affordable through subsidies provided by the group. Elocution and various sporting activities.

cooking. henna application and computer related training. .VOCATIONAL TRANING The group sponsors yearly training workshops for people seeking work opportunities in varied fields such as electronic repairs. AFFORDABLE HOUSING In an effort to make good quality housing accessible to the other strata of society. These projects are conceptualized. diamond polishing. Year-round computer training programs are provided at subsidized rates to deserving candidates. The Lodha Group ensures that at least 10% of its annual constructed area is dedicated to projects which cater to the lower middle class. executed and delivered with the same expertise and in compliance with the 5 L's that characterize each Lodha project.

pedestrian areas and parks have been paved and beautified by the Lodha group.BEUTIFICATION Various public places such as roads. through extensive landscaping. DIASASTER RELIEF The Lodha Group is at the forefront providing active and timely assistance to the affected through donations and group member participation. .

Human Resource Development is a major focus area for the organization. are committed to the Lodha Group's singular vision 'To Build a Better Life' One of the Group’s core corporate values is We will work with the best people . Also by means of recruiting fresh talent from top engineering institutions and B . The qualitative growth in employee strength bears testimony that the processes and the corporate atmosphere at Lodha Group are conducive for careers and overall development.treat them well. the core Management Team and over 1200 associates. This unique approach.CAREER WITH LODHA The Board of Directors. probably the only real estate company to do so ensures that we have . Recruitment. making for over 9000 man-years of combined industry experience.Schools (IITs and IIMs). The HR department is divided into four cells Relationship Management. the organization is committed to create a culture of exceptional talent who can put their minds together to deliver the best products in the market place and set new benchmarks in realty. expect a lot and the rest will follow . Administrative Services and Organisation Development.This is well reflected by the quality of people coming on board today to work for the group.

offering ideal opportunities to the talented and result-oriented workforce. With operations panning across India and a current growth rate of 200% per annum. The Lodha Group is poised to emerge as one of the top five real estate developers in the country by the year 2008. fostering a stimulating work culture of innovation and growth. You are offered challenges and responsibilities early on the job. The real estate industry is witnessing an unprecedented upsurge. Lodha group has also been awarded with the "Best Places to work in India" award.satisfied and contented employees who are committed to make a difference. The Lodha Group employs more than 600 professionals. . Working at Lodha ensures comprehensive exposure to all the disciplines pertaining to the real estate industry.