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New Hut Infrastructure Pvt.Ltd.! Real Estate Company In Lucknow: June 2016 0

Thursday, 30 June 2016

7th pay commission could work well for real estate

Pawan Jasuja, Director- Finlace Consulting
The impact of the 7th Pay Commission recommendations symbolizes the growing economy and I believe housing sector will be the biggest beneficiaries among all. Sudden rise in income and expenditure capacity of government employees may move towards real estate investment. The recommendations are likely to be involved in stimulating the demand of realty sector not only in metro but also in tier 2 & 3 cities too where property buyers are more demanding.

Suresh Garg, CMD,Nirala World & Secretary- CREDAI Western UP 
The move is expected to give an enormous boost to the real estate sector  as consumption demand in urban areas is likely rise owing to the rising income levels. It will enhance the loan eligibility and repaying capacity the individuals making them to invest or buy homes and also exploring the fact of considering bigger size units.

Vineet Relia, Managing Director, SARE Homes
In the wake of current economic indicators poised towards fiscal rectitude, the finance ministry today announced the seventh pay commission. The revised slabs would help to  flush in more liquidity in the market by broadening the channel of purchasing capacity of nearly one crore employees in India. The raise in hike would definitely have a ripple effect on private sector too. We as developers hail the government’s decision and the intent of the pay commission that would also help us to synergize with the growth of real estate and economic prosperity of the nation, coupled with boosting the investors sentiment to  new heights.
Anshuman Magazine, Chairman & MD, CBRE South Asia Pvt. Ltd.

“The Seventh Pay Commission announced by the Government today will not only benefit the estimated 10 million Central Government employees; but is also likely to provide an impetus to the residential and retail real estate markets in the country. With larger disposable income, we expect to see an increase uptick in consumption patterns. The increased cash flow could also help bring back interest in investing in the residential real estate market, especially in the affordable to mid-end housing segments.”

Monday, 27 June 2016

How to remove bars in buying a property

The dream of running an ATM, parlour or a shop in your home may soon come true with Lucknow Development Authority (LDA) cutting down land use conversion charges.

According to the new rule, a person can apply for change in land use from residential to commercial based on LDA sector rates rather than DM circle rates of the area. The policy would be applicable in all LDA developed localities which applies to more than 45% of the city including Mahanagar, Aliganj, Gomtinagar, Janakipuram, Kanpur Road, Sitapur Road and Vasantkunj Scheme, among others.

This is a big decision for hundreds of residents who couldn't afford paying land use conversion charges based on DM circle rate which keeps increasing every year depending on development of the area. On the contrary, LDA sector rates are cheaper and were last revised in 2014. LDA VC Satyendra Singh Yadav said, "Usually, LDA sector rates are about 1.5 to 2 times cheaper than DM circle rate, so this is going to help many residents who had been long planning to change land use."

LDA officials said they already have 80 applications asking for land use.
"Earlier, it used to cost a whopping amount for changing land use from residential into commercial. Hence, we have only 80 applications. Once we apply LDA sector rates, we are sure to get many more applications," said an official.
Though it applies to independent houses, people living in apartments or group housing projects can also apply but they need to take special permission from LDA. Besides, there are certain conditions to approve the change in land use. A certain road width or parking space is mandatory for running commercial activities.
All applicants need a 'no-objection certificate' from their neighbours before applying for the scheme as they might get disturbed due to the emergence of a commercial set-up in the vicinity.
Commercial activities which may lead to nuisance or cause pollution would strictly be prohibited in residential areas.
Source: The Times of India, Lucknow

Saturday, 25 June 2016

LDA to help allottees avail loans

In a first of its kind initiative, LDA has decided to tie-up with banks and make the loan process of MIG and LIG (middle income and lower income groups) flats easier. LDA is also planning to give possession to those making 25% payment at initial stage so that rest of the amount may be paid in EMIs (equal monthly instalments) through home loans from banks.
 LDA VC Satyendra Singh said, "Those applying for MIG and LIG flats can now get possession easily after making 25% payment and the rest in EMIs through home loan. We will help people avail loan without much paper work."
LDA is planning to make new set of MIG and LIG flats especially for middle, lower middle and lower income groups. Singh said, "So far, people who bought flats from LDA and were living on rent had to pay EMI as well as rent. This will help them live in their house after making 25% payment."
Source: The Times of India, Lucknow

Thursday, 23 June 2016

Railways to ask NBCC to redevelop Gomtinagar and Bhubaneswar stations

The railways is mulling a plan to offer two stations to National Buildings Construction Corporation (NBCC) for conversion into the country’s “most- modern” rail premises as part of a redevelopment plan.
“We are in discussions with NBCC for redevelopment of Gomtinagar station in Lucknow and Bhubaneswar station in Odisha,” said a senior Railway Ministry official.
The plan for modernisation of the two stations is part of a railways’ initiative to redevelop 400 major stations across the country.
Talking about the project, NBCC Chairman and Managing Director Anoop Kumar Mittal said, “The modalities are being worked out. After receiving the work order, we will prepare detailed project reports for the two stations.”
The plan envisages vertical development of rail premises with the construction of shopping malls, eateries, parking lot, office complex and other commercial ventures, he said.
The redevelopment plan is to be implemented on a turnkey basis. NBCC would prepare a business model for leveraging the real estate development of the two stations.
Mittal said the real estate prospects differ from station to station.
“One can leverage the real estate to develop modern facilities at stations. Once we get a concrete offer, we will decide how to go about it,” he said.
Railways wants to showcase a few station modernisation projects to attract private players for such projects.
It is already working on the modernisation of a few stations such as Brijawasan and Anand Vihar in Delhi and Habibganj in Bhopal.
NBCC, a PSU of Urban Development Ministry, is engaged in the business of project management consultancy services for civil construction projects and civil infrastructure for power sector and real estate development.

Monday, 20 June 2016

'Smart City Ltd' to modify Lucknow

Divisional commissioner has instructed the Lucknow Municipal Corporation to form SPV (special purpose vehicle) 'Lucknow Smart City Limited' within three weeks to begin development projects under Smart City mission on priority. He has also made departmental committees to review progress every month in their fields.
These committees are meant to monitor projects of drainage, sewerage, heritage building, solid waste management, roads, transport, smart parking and urban mobility nodes.
Once formed, the SPV will ensure its board of directors meets every third or fourth Saturday of a
month to review the progress of projects regularly. The SPV will have three main directors-divisional commissioner as chairman, municipal commissioner as CEO and one director of local bodies of UP.

The SPV can later add as many directors as needed in the board. LMC has recommended to include district magistrate and an official from tourism department. The commissioner said, 'Formation of SPV is a prerequisite to Smart City funds from the Centre and state government. The SPV's name has to be registered with the Companies Act in 3 weeks to be able to begin work on time." Total Rs 1,000 crore will be given by both Centre and state government for Smart City developments.
The first board meeting will take place in July and set agenda for prioritising projects. "The board will see which projects have to be done on priority and also allocate funds towards them. Smart City goals will be achieved through setting timeline for individual work," said LMC. The commissioner was meeting key departments of UP after Lucknow ranked first in the fast-track round.
Source: The Times of India, Lucknow

Thursday, 16 June 2016

capital value rate/sqft 2015 in lucknow city

The company offers complete assistance right from the start to the completion of deal of any property. We aim at providing ultimate satisfaction to the clients through our services. Thus, if you are looking for any property in Lucknow, feel free to contact us at the earliest instance for the best deals.

Monday, 13 June 2016

Realty check in Lucknow


Real estate in Lucknow is reaching sky high and the same is evident in various inroads it has been making towards development of the city.
Kartik Kaushal, a banker by profession and a prospective homebuyer, says, "I am sure I want to invest in the city because it has the potential and while it is making progress, the positivity around helps me as a homebuyer."
The way ahead is Smart.
The central government announced 13 more smart cities and Lucknow has made it to the top. Urban Development Minister Venkaiah Naidu remarked that these cities had improved the quality of Smart City plans by up to over 25 percent to become eligible for selection.
Lucknow Municipal Corporation has been aspiring towards the agenda of Jeevant (Liveable), Sugam (Mobility), Swachh (Clean) and Samruddh (Prosperous) city, a goal to be realised by 2020.
Source: Times Property, The Times of India, Lucknow

Sunday, 12 June 2016

Get the maximum from renting in lucknow

Before you leap in finding for the tenants and delve into imaginary calculation for stuffing your wallet back, there are certain pre-do things, which will save you from many troubles.
Before you work on the sign boards 'for rent' that is stuck somewhere in the front yard of the property, there are certain things that you need to do in order to avoid future obligations. Leasing out a property is not an easy task for landlords. A lot of preparedness and sensible thinking is required before taking a final call. If you want to avoid instances such as tenants breaking out their lease and leaving before fulfilling their terms, or tenants overstaying without paying rent, or having destructive tenants, you must exercise precaution.
The main purpose which lies in leasing out a property is making an extra income and stuffing the wallet back, but it is not easy. It is better to be on renter side when it comes to increased cash flow, potential tax benefits, appreciation over time and flexibility to sell or lease out later. But, if you wish to have a healthy relationship with your tenant, consider the following titbits.
Research beforehand
Before renting out a house to the tenant, you must find out the current rental rates in the area and know whether listing the property is even worth the effort you put in.
Calculate the monthly mortgage with the current market rates. You may also hire a quality property manager, CE rich in experience and acknowledge with all the services they provide.
Know your tenants
While it can be a pain to screen tenants in detail, but it is definitely a better option than choosing a tenant who doesn't pay rent on time, or doesn't care for your property.
Before shaking hands with the new tenant, scan and screen the credit report of your tenant.
Also run a criminal background check. Also check if your tenant has good references concerning rental payment, housekeeping, and property maintenance from all previous landlords.
Legal side
Assuming you're not an accountant or deeply familiar with rental tax laws, it would be wise to engage an accountant to help you sort through the tax implications of renting your house. Consult a certified public accountant and look up all the relevant tax codes related to investment properties. A real estate lawyer can help ensure that your lease agreement does not contain any illegal provisions, while also protecting you from the financial harm that could result from tenants exploiting loopholes in your agreement.
Keep everything in writing. You will need to create a document that covers points that are specific to your property, in detail.
This paper should cover things like repairs, pets, deposits, late payment charges and utilities among others.
Thus, taking an extra care for your property below before letting the tenants to stay in your house and going through all essential steps mentioned above will keep you away from little less desirable tenants and will help you to fetch all benefits of being a landlord.
Source: Times Property, The Times of India, Lucknow

Saturday, 11 June 2016

How To Increase Sale In Real Estate Company

Your Local Market

1. Local Events in your Area – Good way to stay up to date to this is to find websites in your area (Local Events Sites, Local Newspaper sites etc) and sign up for updates. This way when there’s an event, you can blog about it.

2. Events you’ve attended in the area

3. Community Events- Think Festivals or other events that tend to bring the community together

4. Write about a local business (Restaurant or other). If you’re writing about a business that has a website, let them know so that they can link back to you!

5. Housing Trends: Are home sales up or down? Is now a good time to buy? How are mortgage rates affecting buying?

6. Have any celebrities recently bought or sold in the area?

7. Luxury Properties – Put together a list of some of the most expensive properties currently for sale in your market, and don’t be afraid that you’d be happy to show said properties!

8. Cheap Properties – Put together a list of the cheapest properties in your market.

9. Best Valued Properties – Put together a list of some of the properties you think are valued the best.

10. Property Taxes – What can I expect in certain areas?

11. Schools – How are the schools in your area performing. Any recent news about a particular school? Anything someone considering a home in a particular neighborhood would want to know? How about creating a list or linking to a report or article ranking the best schools in your areas?

12. Job Opportunities – Did a big company just open a factory in your area? What are some good job opportunities?

13. Transportation – Do you service an area with a lot of commuters? If I’m looking for a property with easy access to a bus or railroad, what are my best bets? How long are commute times from these areas?

14. Politics – What are some hotly debated issues in your market? Be careful with this one!

15. HOA’s – What is a HOA? What are the benefits?

16. Crime – What are some of the local crime rates? Have those gone up or down? What are some safer neighborhoods?

Local Market Points of Interest and Activities

1. Restaurants – Where can you get the best bang for your buck? Who has the best burgers? What are some healthy eating options?

2. Parks – Create a list of some of the best parks in your area and include some photos

3. Golf- This could potentially be a huge topic for you if you specialize in Golf Homes. Where are the best courses? What are the best Golf Course communities?

4. Nightlife and Entertainment – Where’s the best place to get a drink after work? Where can I go if I feel the need to salsa?

5. Coffee – Coffee lovers unite! Where can I find the best or most unique cup of joe in the area?

6. Local Getaways & Day Trips – Where can I go if I need to just get away, but not too far away?