Real Estate , Realtors and Reality Bites in India

Concept of Real Estate

Property and Chennai real estate promoters are synonymous to Indias growth and its desire to reach the top. With interest rates climbing higher and savings shrinking its time to turn to the old fashioned thinking about investments in gold, land and whatever signifies stability. Who's afraid of investing in the real estate in India? Actually no one! Urban India is booming and there is no telling the length people go to invest in property considered to be safe. Some who have little to invest will do it at a time when land prices are low others couldnt care less and will invest anyway where the property is considered hot. Well property all over India is booming only the degree varies. In the South places like Chennai and Hyderabad are certainly on the upswing Mumbai is a natural favorite with the multi national companies (an obvious choice because it is the financial capital). How can Delhi be far off It is poised to be a mega city by the year 2010 when the Asian Games are to be held. The vibrant feeling is there with development projects taking off ground. Delhi needs to showcase itself to the world as a modern and planned metropolis.

Who are Realtors

Realtors are those sell a dream. A great property being developed needs to be sold through a professionally managed company. Earlier the property used to be sold through small property dealers who would set their own value for the said property. But now some great real estate companies have show interest and are developing great properties. MNCs like Richard Ellis are dealing in real estate in Delhi and Chennai real estate promoters there are many more looking forward to bring in FDI.

Realty and Finance

Indian real estate may compete with New York but it is only a passing phase. Real estate fund managers Santa Fey a Carlyle sponsor and Stargate Capital are poised to enter India with a $500-million investment pledge. A dozen realty fund managers are joining the group to boost the nascent real estate market to a professionally managed industry. Clearly real estate is the core focus of realtors and Indian and foreign realtors, developers fund managers/financers are all joining a list of private equity players raising funds and looking for investment opportunities in Chennai real estate promoters.

The major home grown players are Kotak Realty Fund ( raised $100-million), HDFC India Real Estate, ICICI Ventures, Sequoia Capital, Trikona Capital, IL&FS, IDFC, Warburg Pincus,and international players such as Morgan Stanley ( raised $68-million), Bessemer Venture Partners, UTI Venture Fund, Ascendas IT Park Fund, CalPERS, Lehman Brothers and Goldman Sachs, have made a niche for themselves.

Awareness Campaigns:

What cant be achieved if its decided that the city needs boost. Of course, Lutyens envisaged a really green Delhi, fit for its residents at that point in time. Cities since have totally changed in their character just like the pace of life. Now a citys character does not depend much on its beauty as on its planning, infrastructure and open spaces, spacious shopping malls and parking lots, world class health facilities, educational establishments, not to forget basic amenities such as drinking water and electricity and transport system. Real estate can be prime only if all these factors are accounted for.

The Positive Response in Real Estate Investments

Financial institutions and banks have been tremendously helpful in fuelling the growth of the

Chennai real estate promoters in India. Earlier to get a housing loan one had to avail it at an extremely high interest rate of sometimes 18 percent -24 percent. With promise to make loans cheaper at the unbelievable rate of 7.45 per cent / 8.25 per cent. Since the Indian economy has opened up Indians have been seizing the opportunity to buy property. The response has been overwhelming. The consumer is finally the king demanding more and more. Developers and builders have the opportunity to showcase their projects with insatiable customers buying houses apartments at a brisk pace. In some areas our infrastructure development moves at a greater pace as compared to real estate. Where land use is not defined the progress is faster for example Telecom. Town planning is old and seldom upgraded as a result it is out of sync with modern requirements.

Some of the laws governing real estate in India are as follows:

* Indian Contract Act, 1872

* Transfer of Property Act, 1882

* Registration Act, 1908

* Special Relief Act, 1963

* Urban Land (Ceiling and Regulation) Act (ULCRA), 1976

* Land Acquisition Act, 1894

* The Indian Evidence Act, 1872

* Rent Control Act (state law)

Taxes and Stamp Duty Rates

* Stamp Duty

* Property Tax

* Entertainment Tax

De-regularization of real estate is needed to encourage more planned and orderly growth of the modern Indian cities. The best example of a planned growth can be seen in Greater Noida a suburb of Delhi. Infrastructure is top priority and so are floriculture and greenery, and cleanliness. No haphazardly growth and everything taken into consideration.

The Chennai real estate promoters boom continues, and sure is not withering away with the fluctuating sensex ! More and more people are discovering that it is better to invest in property and watch the money grow than to invest in stocks and shares and take a bad fall. For investors or end users, real estate and property are the reality bites of the future! Of course investment needs to be done wisely. For more information: