REAL ESTATE AND DEMONETIZATION

This is the word that has been haunting us for a while since the night of November 8th, 2016 when the Prime minister’s office made a flash announcement to re-legitimize Rs 500 and 1000 notes already in the market. People all over India argued on social platforms and in real life about the peril caused by the action. Most of the hunches regarding this were washed out by facts, while some came out to be true. Many confusions still exists in the mind of people whether the demonetization really affected the real estate market in Kerala.

REAL AFFECT ON REAL ESTATE

The major uncertainty of people regarding the adverse effects of demonetization on real estate is because, most of us believe that real estate is solely dependent on black money. This is a misinterpreted information. A better perception of the ways in which demonetization affects Real Estate  business in Kerala  will enlighten us and help to get rid of some misconceptions on the matter.

Real Estate can be categorized into residential, commercial, retail, agricultural land and industrial segments. It is true that black money has an influence on real estate but the major influence is on agricultural sector. Real Estate sector can be again classified into organized, less-organized, non-organized. There are few dealers in non-organized sector who undertake transactions in cash, but the percentage of them are quite low now. This small proportion is however found to leave a blemish on the entire business. Generalizing a whole sector is obviously misleading.

Geographical aspects play a prominent role in Real Estate as well. If we consider the northern part of India, a larger number of prospective customers are self-employed where dealings in liquid cash are common. But in southern part people usually come under organized structure, as a result all the real estate dealings in south are more transparent and involves less fraudulence. Thus, it is quite clear that the real estate in north experiences more adversities by demonetization than the south.

The luxury, premium segments and non-bankable segments are more affected by the move as they are characterized by surpluses where possibilities of cash for partial payments is not remote. When coming to affordable house building or buying, most people transact money legally without  the involvement of black money popping in. Almost all the procedures associated with the purchase of a property, from land acquisition to construction to sales are effected via banking transactions. The very premise of asking prices at fiercive rates in the affordable housing segment is highly hinged on the degree of transparency that has been so established more so over the recent years. Quite obviously, in this case, the demonetization move will have less to almost nil effect on the business. This suggests that the affordable housing segment will see no price cuts as compared to the most premium segments of the business.

Rounding it off, the impact of demonetization on the Real Estate business especially the affordable housing (Apartments) is bound to take fewer hits than previously expected due to the reasons mentioned above. The impact of black money in the market will be curbed by the demonetization move but dealings in the affordable Real Estate segment will continue unabated.

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Real Estate Trends in 2017

Real estate is the second largest employer in India, just beneath agriculture sector and is expected to grow by 30 per cent over the next decade. The real estate sector comprises of housing, retail, hospitality and commercial sectors and it’s growth is mainly caused by the growth of the corporate sector and the demand for land space. This sector is expected to have more NRI (Non-Resident Indian) short-term and long-term investments over the coming years. The most favourite property investment destinations are expected to be Bengaluru, Ahmedabad, Pune, Chennai, Goa, Delhi and Dehradun, exactly in that order. Here is a list of emerging trends in Indian real estate sector in 2017.

Developers reviving their business models

With the deadlines to carry out RERA (Real Estate Regulation and Development Act) closing in the states are having difficulty implementing their versions of RERA. This landmark law will accomplish transparency and accountability specifications for developers into the system while improving consumer confidence. Consumer involvement will increase in concerned growing projects. Along with RERA, the Goods and Services Tax (GST) and the Benami Property Act also have a huge effect on how many developers run their businesses. Most developers have realised that it is time to revive their current business models in order to stay in business.

Affordable Housing

Affordable housing has become a hit in the market. By 2019, over one crore houses will be built in rural India. With National Housing Banks (NHBs) refinancing their housing loans, the affordable housing sector is expected to receive a further boost. Tenure of loans under the Credit LInked Subsidy Scheme (CLSS) of Pradhan Mantri Awas Yojana (PMAY) was extended from 15 to 20 years will also ensure an increase in affordable housing market size across India. With the demonetization of high-value currency notes will cause in a reduced land price in the coming years.

Consolidation

The jam-packed real estate sector is going to get a lot thinner with all the merges happening around. Many real estate businesses have started joint developments between landowners and small developers with bigger and better-organized players, larger players buying smaller developers, and struggling developers selling off their land banks to bigger players. Indian real estate business will be seeing lots of consolidation over the next five years causing smaller players to be eroded and larger players staying in business.

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Property Management Services

Do you have some property you want to market for rent? As a property owner, you have many responsibilities including rent collection, inspection, maintenance etc. it’s how skilled you are as a landlord that makes you get the best out of your property. Here is the complete list of property management services you need to know,

Determine a proper rental rate: This is not something to be taken lightly. Evaluate your property thoroughly before you come up with a fixed rental rate. Perform a detailed documentation of the interior and exterior including pictures. Provide advice on repairs and cosmetic enhancements to maximise monthly rent while providing good Return On Investment (ROI). Gather usual rental rate data from other property owners in the area and decide an optimal rate. Discuss with other owners about the pros and cons of different policies like accepting pets, allowing smoking etc.

Market your property for rent: Ensure cleanliness, interior appeal and manicured landscaping to increase your property’s appeal. Create advertisements customised to the property in advertising mediums such as magazines/publications, free or paid rental listing websites, fliers etc. you can also work with other realtors and leasing agents to find a tenant. Keep your phone with you always so your potential tenants can call directly to receive information about the property. Meet prospective tenants and show the property to them.

Tenant screening and selection: Once you have chosen your list of prospective tenants, do a background check on them to verify their identity, income, rental history etc. Grade them based on your tenant criteria. Choose the one that ranks first on your list and informs others who were turned down.

Tenant move in: Draw up leasing agreement and confirm the move in date with the tenant. Review lease instructions with the tenant with reference to things like rental payment conditions and required property maintenance. Ensure all the agreements have been properly executed and perform a detailed inspection with the tenant and have them sign a report verifying the
condition of the property prior to moving in. collect first month’s rent and security deposit beforehand.

Rent collection: Establish a rent collection date and execute rent collection without fail. Hunting down late payments is a tiring and awkward process, enforce late fees and be sharp about it. Provide receipts for proper payments and fill relevant paperwork to initiate and complete an unlawful detainer action if eviction is needed. In case of eviction, coordinate with the law enforcement to remove the tenant and their possessions from the property.

Periodic inspections: Perform periodic inspections of the interior and exterior on a predefined schedule to look for needs of repair, safety hazards, lease violations, code violations etc. send detailed periodic reports of the inspection conducted on the condition of the property to the tenant.

Maintenance: Establish a preventive maintenance policy to identify and deal with repair needs. Assign repairing/maintenance work to people who are best for the job for the best price. Maintain outdoor areas by landscaping, leaf and snow removal, trash and debris removal etc. Maintain a 24-hour emergency repair hotline.

Tenant move out: If the lease period is over and the tenant is moving out, conduct an inspection of the property (interior & exterior) and fill out a report on the property’s condition when the tenant moves out. Provide a copy of the report and the estimated damages list to the tenant before they move out. Return the balance of the security deposit to the tenant. Clean the property and perform any repairs or upgrades needed. Re-key the locks and put the property back on the market for rent.
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ATEES Property – Real Estate Builder

In this busy world it is tiresome to look for a space to live in with all qualities up to the mark. A property with all facilities and budget to be matched to the expectations of the buyer is not that easy to accomplish. ATEES properties is a real estate builder located in the heart of Kerala’s cultural capital – Thrissur. We allows the customers to choose from a various number of plots, villas and apartment which meets their desire.

Customers are always special one’s from ATEES properties point of view, so would provide them with everything they deserve. Whatever the query may be, is welcomed with a open heart and the existing issues are resolved as fast as possible from our side. Reason why we are always a priority for the purchasers can be defined in simple set of words.

1. Customer are first preference
2. Good choice of living
3. Give value for money
4. High standard for the residents

ATEES property show excellency in every aspect from the scratch till end of the process. A well structured management comprising of professional architects and engineers are employed to showcase their best in the building procedure. All essential construction checklist are well organized by them like general building checks, early stage construction, flooring, plumbing, roofing, exterior and interior etc.

ATEES property aims at construction and development of commercial spaces with help in improving trust and satisfaction in the customers. We not shows path for luxury but care for the residents living in the polluted urban, so our construction has completed every steps to prove that it has an eco friendly environment packed with greenery. Proper waste management system is executed to maintain tidiness.

Passion for perfection can be seen during every phase and believe in building a strong foundation and makes way for more similar projects in the future. Normal construction concepts like planning, designing and development with extra furnish are provided by ATEES property so that they can have a long lasting memorable moments to remember.

Tips For Profitable Real Estate Investment

When a person thinks about a business, the first thing that comes to his mind is investing in real estate. It is suitable for people who love risks and chances, also lot of opportunities for leisure time can also be foreseen. Money making is not a difficult task for those having a real idea about the industry.

There are lot of things to learn before entering into the field otherwise it is not only a waste of time but money too. Investing in real estate is much more complex than that of investing in any other properties due to the inclusion of money involved in the long term process.

A degree or specialization in any of the subject in real estate is not enough to achieve  the goals in  real time. However it is required to have a solid understanding about the concepts before jumping in else every gain you dreamt of will go in vain. Nature of business is like catching a fish from a river, those who have the tactics will succeed.

Discuss with someone who were able to lead in his business and how to achieve what you desire for? They may visualize about the advantages underwent by financing in the field for a long term, but you may not get the overall idea about the strategies involved. Follow the steps provided to decide and  grab the actual benefits by implementing in an appropriate way.

Location is one of the main entity that matters most in real estate investment. A good place is essential for continues building of the business. It should be filled with all the adequate resources which helps add value to the property. Before investing a huge amount on them and leap into debts, ensure that it is a better spot to finance on. Small house in a popular street adds worth to the existing value regardless of the condition of the structure.

Never pay the full amount instead find a wholesale property where you can buy it from the agents at a much lower price. Extensive discount offers will be available while purchasing it and you may have to work on modifying the stuffs and maintain it so that the attraction towards the item persists permanently. Keep in your custody till the lucky day comes and sell with double the cost price.

The government has to answer for the tax payment if private companies don’t look after the service to offer living space for the people. However private investors have to pay tax to the authorities in the centre, there are ways to reduce the funding for it. Depreciation is one of the benefits every business receives in the midst of heavy downpour of income tax. This term allows the taxpayers to retrieve the cost incurred, eventhough there are some formalities.

Check your credit report and its history regularly, at least once in a month. If any flaws or errors are found in the reports, settle it as soon as possible because while trying to invest in a property, you may have to apply for loan for financial support. At this time if the credit bureau who checks the process discovers any inaccuracy in the documents, funding from their side might fail for the aid of business.

Well many of the businessman playing in this field may not have enough time to look after their property. So usually a board saying “To Let” is kept hanging on a wall. To make sure the profit be in the hands for the rest of the months, follow a 1% rule which states that “ a money gaining property must create 1% of the amount spent at the time of buying it. Let us illustrate with the help of an example: If you are purchasing a building for Rs 1 lakh, the monthly rent should not exceed 1% of that amount ie Rs 1000.

All the points listed above are universal rules, well appreciated by the people continuing their career in real estate industry. So always keep it in mind the above tips to successfully avail the remarkable returns on a regular basis. Remember to  think twice before you act.

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HOW TO INCREASE LAND RESALE VALUE IN THRISSUR

Landlords or people of a residence have to handle the land depending on the area they own. Have you thought about increasing the land revenue before selling it? There are genuine ways of increasing the land revenue. It does not depend on whether it contains flats or villas for sale, home or barren land.

ATEES properties have properties for sale in Thrissur where this same is applicable according to land administrators. We offers one of the top properties for sale in Kerala.
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1.Scope for Future Development:

Landowners should have a deep insight to the future before buying or selling a land and lookout for commercial developments like schools, hospitals, transport etc which has a great impact on determining the land value.

2.Improve Accessibility:

If your land have no access to roads or basic commodities required in life, value of the land may descend depending on the criticality. Try constructing a quality tar road and make your land accessible from anywhere outside.

3.Concrete Fence is Necessary:

A standard concrete fence always enhances the price of the land. A fence is mainly used for security purpose so that no intruders can get into it without the prior permission of the owner. However fence also helps to calculate the perimeter of the plot too.

4.Save Water:

Water is precious for increasing land value too. People will only pick a land if it has got adequate water supply in it. So try erecting rain water harvesting methods to fetch water at the time of need and also dig for borewells or tube wells.Ensure that the deep land surface is not rocky which can block the incoming of water into the land.

5.Prevent Pollution:

Hinder contamination of the land or surroundings, keep it clean and tidy, stop throwing wastes to the environment which can lead to tremendous depreciation in the value of your land. It is suggested to plant greenery around the area which can help reduce pollution.

6.Proper Sewage:

Proper sewage system is necessary to drive off unwanted wastes from the area. Not only should it be avoided but also should have a proper disposal in way which does no harm to others.

7.Keep Building:

Adding more and more structures on the land which includes houses or any business buildings will be worthwhile to the owner as it attracts people’s heed to the area.This is especially meant for people who are business minded.

Service Apartments VS Budget Hotels – Which To Choose??

Come vacations and everyone seems to be suddenly bitten by the travel bug. While searching for cheapest, good quality and secure accommodations in your place of travel, one might come across the terms “Service Apartment” and “Budget Hotel”. What is the difference between these two, and which is the best bet? Let’s find out.
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Properties In Pantheerankavu

1. When compared to budget hotels, service apartments are 60% cheaper as a service apartment can accommodate 3-6 adults per room while a budget hotel can accommodate a maximum of only two.

2. When it comes to flexibility service apartments are more flexible than budget hotels in terms of cancellation of tickets, check-ins , check- outs, Free wifi etc.

3. Service apartments are 60-70% more spacious than budget hotels of the same cost.

4. Service apartments usually provide fully equipped kitchen with self catering facilities which is lacking in budget hotels.

5. Service apartment provide wider discount rates of upto 40% for long stays which are found missing in budget hotels. There is a huge difference in savings especially for groups/families.

To conclude, service apartments come with greater flexibility, cheaper rates, self catering facilities and give a homely feel for customers which has resulted in their rising popularity over budget hotels. Make sure to search ahead for service apartment options in your place of travel. A word of caution though – one must be extra careful of fraudsters and take care to avoid pitfalls. So book with care and have a happy stay!

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Palakkad – The Emerging Investment Choice In Kerala

Palakkad is called the gateway to Kerala, for it is here that a wedge in the Western Ghats allows other states to access Kerala. Bestowed with brilliant beauty – the green paddy field, thick forests, palm trees and meandering rivers, Palakkad is a rich source of natural wealth. 
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Villas in Palakkad

It is also a very populous city, known for the perfect blend of urbanization and green spaces. Presently it is luring top real estate players in Kerala to this land of palms. Here are some of the factors that make Palakkad the ideal choice for settling down in Kerala.

 

> Affordability: With rocketing land prices, getting a property in an urban setting without burning a hole in your pocket is a luxury indeed. Palakkad is an ideal place to get the best of both worlds, modernity and natural surroundings, at comparatively very reasonable prices.

 

> Resale value: The real estate boom has just started in Palakkad, and the coming years will see a dramatic rise in property value. Certainly a wise investment choice especially if buying property from a reputed builder.

 

>Proximity to amenities: Palakkad is a centre of development, both in technology and economical progress. All luxury amenities one wishes for are available in within the city limits.

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>Green Environment: A most important consideration of most property seekers is the availability of pure water, fresh air and green environs. Everyone is increasingly aware of the significance of nature in bringing a sense of balance and harmony into our lives.

 

>Employment opportunities: The Kanjikode – Pudussery – Walayar industrial belt, the second largest in Kerala after Kochi,promises immense opportunities, which is now augmented by the proposal to set up a railway coach factory in Kanjikode. The first IIT in Kerala is at Palakkad. Bharat Earth Movers Limited (BEML) is a major economy-driving force here. IT companies are also cropping up in a big way in Palakkad, with considerable impetus derived from state government.

 

>Growth factors: High literacy rate, abundant water availability, adequate power supply, peaceful political climate and highest road density, all make Palakkad a wise choice for economic investments.