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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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.

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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.

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.