In the last couple of days, i received loads of queries on "What will be the impact of demonetisation on the property market?". The reason for this panic is news reports on "collapse" or "Free Fall" of the property market. Many of my clients who are in a process of buying a property asked me whether to cancel the deal and should they wait for prices to fall. Quite interestingly, they are "Happily" willing to bear the loss of up to Rs 5L. On the other hand, rumor mongering is at its peak in the property market. In city A there are rumors that builders have slashed property prices by 40% in a ... Read More
5 Types of Advance Payment In A Property Deal A Buyer Should Avoid
Advance Payment in a property deal is very common. Just to clarify that here i am not referring to advance payment or token money to initiate a property deal. It is must pay a token money or advance else there is no financial commitment from buyer's end to close the property deal. The quantum of token money, i discussed in my post on the same topic and may vary from case to case basis. In the idealistic scenario, after the payment of token money, the buyer should make balance payment only at the time of property registration. Unfortunately, we don't live in the idealistic world. Besides the ... Read More
Buyers Beware of 5 False Promises By The Property Developer
For a property buyer, the Property Developer or Builder is the most important person in the life till the sale deed is signed. In most of the cases, the property developer occupies almost 100% mind share during the buying process. He may throw a lot of surprises and unexpected events in your life. Based on my experience with property buyers, i can conclude that hardly 5% property buyers are HAPPY with their interaction with the property developer. In this post, i am using the term property developer instead of the builder. The reason being, anyone, and everyone claims to be a builder. The ... Read More
How To Sell Property Quickly – 7 Marketing Tips For Sellers
How to sell property quickly is one of the key concerns for most of the sellers. I keep receiving this query from my clients. It's a known fact that property is a high-value illiquid asset. On an average, it takes around 3-6 months to sell property in high demand pockets. In low demand pockets, it may take up to 12 months. Some of the recent queries on my blog forced me to write this post. The readers mentioned that their real estate investment is dead and they are not able to sell property from last 2-3 years. Secondly, readers complain that i don't share too many posts for sellers :). It's ... Read More
Bank Auction Property – Check Out The Recent Changes in SARFAESI Act
Bank Auction Property is a good news for people who would like to buy a property at a cheaper rate. Govt and RBI have put a huge amount of pressure on banks to clean their books. Therefore, you must have observed mega auction of properties conducted by almost all the banks. At the same time, let me be honest that bank auction property is high risk investment. You have to be extra cautious and vigilant while participating in such auctions. You may check my post, Complete Guide to Bank Auction Process for more details. Recently, the Govt of India passed The Enforcement of Security Interest and ... Read More
Benami Property Holders – Beware You May Lose Your Property
Benami Property is one of the first real estate jargon i learned in my childhood. Unfortunately, even after 25 years, the benami property still exists. In my childhood, i used to wonder what is meant by benami property. I concluded, a property that is not in anyone's name is benami property :). One fine day, i asked my father and he shared real life example to explain the concept in easy to understand language. Let's check out with the same example What is Benami Property? In my hometown, there was a very big single screen theater. My father knew it's owner i.e. Person A. One fine day, ... Read More
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