Property Bussiness in India: Real Estate Acknowledgment Essay Example

belonging to legal persons, even if the legal person is not a natural person. In most countries, corporations, for example, have legal rights similar to those of citizens. Therefore, the corporation is a juristic person or artificial legal entity, under a concept that some refer to as "corporate personhood". * Not every person or entity with an interest in a given piece of property may be able to exercise all possible property rights.

For example, as a lessee of a particular piece of property, you may not sell the property, because a tenant is only in possession and does not have title to transfer. Similarly, while you are a lessee, the owner cannot use their right to exclude to keep you from the property, or, if they do, you may be entitled to stop paying rent or sue for access.

Further, property may be held in a number of forms, such as through joint ownership, community property, sole ownership or lease. These different types of ownership may complicate an owner's ability to exercise property rights unilaterally.

For example, if two people own a single piece of land as joint tenants then, depending on the law in the jurisdiction, each may have limited recourse for the actions of the other. For example, one of the owners might sell their interest in the property to a stranger whom the other owner does not particularly like. Legal systems have evolved to cover transactions and disputes that arise over the possession, use, transfer, and disposal of property, most particularly involving contracts.

DEFINITION ; MEANING OF REAL ESTATE

Land, buildings, and things permanently attached to land and buildings. Also called ‘realty’ or ‘real estate’

all land, structures, firmly attached and integrated equipment (such as light fixtures or a well pump), anything growing on the land, and all "interests" in the property which may be the right to future ownership (remainder), right to occupy for a period of time (tenancy or life estate) the right to drill for oil, the right to get the property back (a reversion) if it is no longer used for its current purpose (such as use for a hospital, school or city hall), use of airspace (condominium) or an easement across another's property.

Real property should be thought of as a group of rights like a bundle of sticks which can be divided. It is distinguished from the other type of property, personal property, which is made up of movable items one of the principal areas of law like contracts, negligence, probate, family law and criminal law Real estate is the modern term for land and anything that is permanently affixed to it. Fixtures include buildings, fences, and things attached to buildings, such as plumbing, heating, and light fixtures. Property that is not affixed is regarded as Personal Property.

There are Agricultural lands in almost all the States of India.

Barren Land

Within the land mass of India, mainly the land areas of Rajasthan, parts of Jammu, Leh, and parts where snowfall prevent any cultivation are barren. Real Estate lands are growing at a tremendous rate in India. All Metro Cities have huge boom of Real Estate Properties, due to the growth of - Economy, New Industries, Information Technology and Business outsourcing. With the people becoming mobile due to transferable jobs, the growth of houses and Apartments have increased

manifold all over India.

In addition, the NRI and the mercantile groups have found Real Estate Lands as Good Investment Sectors. Commercial Land is becoming pricier day in and day out. All the Indian Cities are suddenly experiencing a boom in Marts, Market Plazas, Malls, Shopping Complexes as all International brands are making their presence felt in India in a big way with along many new local Retailers. Farm Lands are becoming the exclusive property of the rich and famous as of late they have realized the unique qualities of Farm Lands. There is a stiff competition in acquiring the best of farmlands, as they can be in the lap of icturesque valleys replete with streams, Private Piece of Beach in Goa, Pondicherry etc or private Havelis in Rajasthan.

The Trend of love for Nature and due to less available space in City Apartments, Farm Land is fast becoming the best option for investment. Residential Land is fast becoming scarce in the mad rush to stay near work places and near to City centre. Thus, Posh places or places with less of space have developed Apartments to cater to more people.

Business Definition for: Residential PropertyBuildings and land which are used for residential purposes i. e. living. These include single-family homes, multi-families, apartment buildings, etc. It derives all or nearly all of its income from dwelling units. Residential property in India is a luring market. Residential real estate market in India has seen mounting prices. A survey of the Residential Real Estate News is sufficient to give a gist of the situation of residential property prices. India has seen mass developments in residential plots, housing complexes and luxury

housing units. The residential real estate developments in India are not restricted to just the metro cities like Delhi, Mumbai, Bangalore, Pune, Kolkata, Chennai and Hyderabad but also the upcoming surrounding areas specially the SEZ's .

Residential Property Market

The Residential Real Estate Developers In India have ventured out full time into construction and development of large-scale housing projects in order to cater to the demand of residential property for sale. India residential property is a magnet for not just the local real estate developers but also the foreign investors especially the NRI Investments in India have a major chunk into the residential property market. Even the number of Residential Real Estate Agents and Brokers have increased manifold in the past few years.

One can find complete real estate property listings in residential real estate for sale, residential real estate for rent and leasing of residential properties in India. The real estate agents and brokers also guide you about the various Residential Real Estate Loan Schemes available in the market and also the residential real estate investing opportunities that would yield the maximum returns. Residential Properties in India Residential properties in Delhi, Mumbai, Pune, Bangalore, Gurgaon and other major cities record the maximum prices as well as sale.

The residential property news is a clear indication of the current trend in Indian residential real estate market. One can find the names of major conglomerates venturing into residential real estate developments. The residential real estate companies provide Residential Real Estate Valuation and Property Management Services that can help determine the residential real estate value of the existing property you intend to sell or the values of the residential properties to

buy.

Residential Properties for Sale in India

The Indian government provides development plans that will list the residential property for sale in the various cities of India like Delhi, Mumbai, Bangalore, Pune, Hyderabad, Chennai, and Gurgaon etc. They also list the real estate agents and brokers dealing in residential real estate in India. All the Leading Residential Real Estate Developers are also registered with the governmental body. The Development Authority conducts residential real estate auctions for the sale of residential plots and properties.

They also determine the Residential Property Taxes to be paid to the government. Regularization of construction works on an allotted piece of land is also the work of the development authority of that area. Residential property act lays down the guidelines for sale and renting of residential property in India.

BUSINESS DEFINATION

It can include a single/more offices, buildings, factories, hotels and business houses. It derives its income from non-residential sources. Commercial property is real estate intended for use by for-profit businesses, such as office complexes, shopping malls, service stations and restaurants. Commercial property may be purchased outright by a developer for future projects or leased through a real estate broker. Commercial property falls somewhere between residential and industrial property. Practically every incorporated city uses a zoning system to regulate the use of property within its jurisdiction. In order to grant permission to build a new office complex or other profit-making business, the city government must determine that the chosen area is indeed commercial property.

The zones which separate industrial, residential and commercial property are clearly marked on city maps. If the proposed business is clearly in an area zoned for commercial use, then the city will

allow the sale to proceed for the stated use. If any part of the commercial property extends into a residential or industrial zone, however, then the buyer must seek a 'variance', special permission to cross over a zone boundary. Commercial property can be held by real estate agents who treat it the same as residential property.

Signs advertising the availability and size of the commercial property can be erected, and arrangements can be made to buy or lease smaller lots. Sellers of commercial property may also agree to make improvements to the land, such as grading off uneven spots or clearing out unwanted trees. A professional developer may purchase huge swatches of commercial property simply to guarantee its availability for later projects. Cities often use zoning laws to prevent conflicts between residential homeowners and businesses. Land designated as commercial property is rarely located in the middle of residential zones.

City planners encourage commercial businesses to congregate along busier streets and central downtown areas. This helps to keep traffic to these sites manageable. Some areas of the city may be designated for 'mixed usage', which means some commercial property may be used for residential purposes. A quaint downtown shopping area with apartments would be an example of mixed usage. Commercial property definitions may include industrial usage as well, although zoning laws still regulate the level of industry permitted. Heavier industries often purchase property on the fringes of cities or in unincorporated areas.

Commercial real estate developers engage in mass developments of commercial properties for sale, for rent and for lease. Commercial properties are on an upswing because of the expansion of the Indian consumer market. The commercial property news

shows leading real estate developers engaged in construction of shopping malls, commercial complexes, and office spaces etc.

Commercial Real Estate Agents and Brokers give you commercial property information regarding the commercial property prices, rates of commercial property to rent, to let, to buy or to lease. They also provide info on Commercial Property Loan and interest rates on real estate loans, commercial property developments in your area and many more. Find Commercial Property in India Commercial property sales have touched new heights demanding larger spectrum of commercial property developments and keeping the commercial property developers busy.

Certain commercial real estate companies also provide property valuation and Property Management Services to help you estimate the value of your commercial property for sale, for rent or for lease purposes. The Property Valuation Methods are followed as per the guidelines laid down by the Development Authorities in India . Along with these the development authority also undertakes commercial properties auctions and regulates the Commercial Property Tax and property law.

Commercial properties auctions include auction of commercial plots, constructed office complexes, shopping malls and retail stores all over India.

Many Banks and Financial Institutions provide commercial property finance. The commercial real estate in India also attracts mass foreign investments, the major share being that of NRI Real Estate Investments . Among the highest value commercial properties are commercial real estate in Delhi, Mumbai, Gurgaon, Bangalore, Pune and other major cities.

Even the commercial property auctioneers target the commercial properties and plots in Delhi, Mumbai, Bangalore, Pune, Gurgaon, Chennai, and other metro cities to the Leading Real Estate Developers and Builders in India . The rental and leasing of commercial properties is also fast gaining

popularity among the commercial property investors. Commercial Real Estate News provides the ongoing trends in the commercial properties market and also the latest commercial properties developers and their real estate developments. Also get info on the commercial property rates of the commercial realty through commercial real estate news and transportation needs. Benefits of investment in Commercial and Residential property

At the personal level, you have to decide which suits you better: residential or commercial? Mostly, people think of investing in residential property while commercial property has its rewards too.

• The benefits of investing in commercial property

This acts as a bigger source of income. The lease provided by banks tends to be much longer ranging between three to 20 years - and they are quite good which makes them a secure investment. Commercial tenants maintain the property better as its condition is much mportant to their business and their staff. Lease contract also adds protection for the owner in the form of good clauses, maintenance clauses and management clauses made. The return on invested capital on commercial properties ranges between seven per cent and 10 per cent net after deducting all costs.

• The benefits of investing in residential property

We need smaller investments in residential properties as compared to the investment made in commercial properties, which can be important in particular if this is your first investment property.

Knowing the fact that residential leases are shorter than commercial ones, residential properties are generally easier to rent because it is comparatively easier to find a residential tenant. The more you research residential or commercial property, the better you are able to know your market, the safer your investment will be.

SEZ India Website, SEZ India Projects SEZ or Special Economic Zones are specially demarcated geographical regions that have more liberal economic laws as compared to the centralized laws of the country. SEZ concept itself gives the SEZ definition.

The very purpose of a SEZ is to develop the area covered under the special economic zone by following special economic policies. SEZ In India The basic motive behind developing a special economic zone like SEZ in India or SEZ in China, primarily in the developing countries is to attract mass foreign investments in the country. India Real Estate Investments have attracted huge foreign funds and thus the special economic zones in India have increased by and large. The SEZ norms and rules vary from country to country and region to region.

SEZ land involved also decides the SEZ policy for the SEZ approvals. The SEZ act 2005 announced the SEZ policy in India for setting up of any special economic zone in India. This special economic zone act 2005 set the guidelines and procedures for acquisition of SEZ land and SEZ development following the proper SEZ laws. Further amendments were made through SEZ Act 2006 and SEZ policy 2007. The SEZ history dates back to 1965 when first export processing zone was set up in Kandla, Maharashtra.

That was the instigation of SEZ's in India. | The SEZ Act in 2005 established India Special Economic Zones formally. SEZ notification as mentioned in the SEZ Act includes: To augment additional economic activity by attracting foreign direct investments. To Promote of exports of goods and services. To promote of investment from domestic and foreign sources. To create more employment opportunities. To

develop infrastructure facilities of global standardsSEZ India Benefits The SEZ India Website lists both the SEZ advantages and SEZ disadvantages.

The SEZ Benefits are:  SEZ's offer economic progress to the area, the local inhabitants and the country as a whole. Exemption from payment of stamp duty and registration fees on the lease/license of plots to the SEZ developer.  External commercial borrowings of upto 500 million USD a year without any restriction of maturity to the SEZ developers. SEZ Disadvantages Special economic zones and the SEZ projects have instigated certain SEZ controversy and a SEZ debate regarding the SEZ Disadvantages:  Revenue losses due to various tax exemptions and tax benefits awarded to the India special economic zones. Most Real Estate Developers In India are interested in setting up a SEZ to cash in the india real estate bubble by acquiring SEZ land at cheap rates and creating a land bank for themselves India Real Estate holds a special section for SEZ where details regarding the SEZ news and notification, upcoming SEZ projects, listing of SEZ developers, SEZ consultants and consultant agencies, SEZ companies group engaged in development of special economic zones in India and others deserve special mention. SEZ Projects in India

Presently around fourteen major special economic zones functional in India: Santa Cruz, Mumbai, Maharashtra, Cochin, Kerala,  Kandla And Surat in Gujarat , Chennai, Tamil Nadu,  Vishakhapatnam, Andhra Pradesh, Falta And Salt Lake in West Bengal,  Noida, Greater Noida in Uttar Pradesh,  Indore, Madhya Pradesh,  Jaipur, RajasthanOwing to the mass attraction of SEZ's in terms of the SEZ benefits or advantages, major Indian conglomerates are jumping into the SEZ development bandwagon.

Some of the names that deserve mention

here are Mahindra & Mahindra with Mahindra World City in Chennai and Reliance Industries along with Haryana Government and coming up Special Economic Zones by Leading Real Estate Builders And Developers in India like Unitech India Ltd. and DLF . The newer areas attracting SEZ development are Navi Mumbai, Manesar,Gurgaon,Noida, Indore, Dehradun, Kanpur, Kochi, Nadigram, Surat, Nagpur, surrounding areas of Pune, Goa, Bangalore, Hyderabad, Jaipur, and Karnataka.

WHO IS REAL ESTATE BROKER?

An individual or firm employed by others to plan and organize sales or negotiate contracts for a commission. A broker's function is to arrange contracts for property in which he or she has no personal interest, possession, or concern. The broker is an intermediary or negotiator in the contracting of any type of bargain, acting as an agent for parties who wish to buy or sell stocks, bonds, real or Personal Property, commodities, or services. Rules applicable to agency are generally relevant to most transactions involving brokers. The client is considered the principal and the broker acts as the client's agent.

An agent's powers generally extend beyond those of a broker. A distinguishing feature between an agent and a broker is that a broker acts as a middleperson. When a broker arranges a sale, he or she is an agent of both parties. In order to determine whether or not an individual is acting as a broker in a transaction, the type of services that are performed must be examined. The sale of residential property is heavily regulated. All states require real estate agents and brokers, who earn a commission from the owner of real estate for selling the property, to be licensed.

To get a license,

a person must have a high school diploma, be at least eighteen years old, and pass a written test on real estate principles and law. Real estate brokers or agents are hired to transact the buying and selling, lease, or rental of real property on a commission basis. They can also be involved with the purchase and sale of lands, and the acquisition of mortgages for others. They may also counsel and advise people who wish to buy or sell real estate Regulation and Conduct of Business

The business or occupation of a broker may be regulated by the state under its Police Power. A Municipal Corporation has the power to regulate brokers who function within its boundaries if authority to do so is granted by the state. In order for a broker to engage in business, he or she is generally required to acquire a license and pay a fee. Brokers who conduct business without a license can be fined by state licensing authorities. In some states it is illegal for any person other than a licensed broker to be paid for services concerning real estate transactions.

Laws exist that impose a license tax on brokers. Within the meaning of such laws, any individual who regularly works as a middleperson or negotiates business transactions for the benefit of others is ordinarily considered a broker. It has been held by a federal court that a statute requiring brokers to obtain a license was only applicable to those people regularly employed as brokers. An individual only casually involved in brokerage through the arrangement of only a few sales would not be considered to be engaged in the business

of brokerage.

Revocation of License

The state's concerns regarding brokers extend beyond initial licensing to the establishment of conditions for the maintenance of a license. The state may provide for the revocation or suspension of brokers' licenses for reasonable grounds. The power to revoke a license may be vested in a specially designated commission that exists primarily to hear complaints about the fraudulent practices of brokers. Such proceedings are ordinarily informal, and technical court rules generally are not observed.

During a hearing, the commission is presented with evidence relating to the broker's conduct and must consider whether such conduct warrants denial of the privilege to engage freely in business. Grounds for revocation of a license are generally based upon Fraud, dishonesty, incompetence, or bad faith in dealing with the public. A real estate broker's license may be revoked or suspended because of Misrepresentation used to effect a purchase or sale.

Generally, the conduct of a broker in negotiating a real estate transaction on behalf of his or her principal is subject to strict fraud and deceit standards, equal o those imposed on his or her principal. It has been held by some courts that the failure of a broker to disclose material facts within his or her knowledge will create liability. Within the meaning of fraud is the pretense of knowledge on the part of the broker while executing a real estate transaction where no knowledge actually exists—for example, while selling a house a broker states that there are no concealed defects in the house, although he or she does not actually know if such defects exist. A real estate broker's license may be suspended or revoked if duties

are performed unlawfully.

In addition, a broker's license can be revoked or suspended if a broker is guilty of racial discrimination in the selling and leasing of property.

Commissions: A broker is ordinarily compensated for services by the payment of a commission, based upon a portion of the value of the property in a particular transaction. Generally, a commission is earned when negotiations between a buyer and seller are completed, and an agreement is reached. It is customary for a broker to deduct and reserve the amount of commission from funds obtained by him or her for a client.

The ordinary basis for the calculation of a percentage commission is the total sale price of whatever is sold. In order for a broker to be entitled to a commission, a sale must be completed for which the broker has been employed. The broker's right to a commission is not dependent upon the finalization of the transaction unless otherwise agreed upon by the broker and by his or her client. The compensation of a broker is based upon procurement of a client who is willing and able to purchase. The specific terms of the transaction must be satisfactory to the broker's client.

Of paramount importance is the prospective buyer's ability to provide the required funds at the suitable time. A broker who has properly performed his or her duties should not be denied a commission due to a failure by the parties to consummate the deal. In the absence of any agreement to be employed by a client, a broker is not to be compensated for voluntary services. Similarly, compensation is not due a broker when a sale is made

by an owner after the broker-client relationship has been terminated. A common type of termination is the expiration of a real estate listing.

This rule against the payment of a commission is absolute—regardless of whether or not the sale is made to an individual whom the broker initially produced—provided the broker was given ample opportunity to complete the transaction and failed to do so. Once a broker has earned his or her commission, a client may not terminate the relationship and complete the transaction himself or herself in order to avoid paying the broker. Any fraudulent misrepresentations or evidence of bad faith on the part of the broker will defeat his or her right to a commission.

Mere Negligence in the execution of duties, in the absence of bad faith, does not automatically defeat a broker's right to compensation. Future Roles of Brokers Technology affected the roles of practically all types of brokers. Probably the most significant developments have been related to communications, as new technologies have allowed brokers to communicate with their clients in a variety of means, thus enhancing the ability of the brokers to serve their clients' interests. Some changes were different methods in day-to-day communications, such as the common use of E-Mail and fax machines.

The rise in Internet usage in the 1990s also caused a number of changes, as registered brokers began to serve as online customer service representatives for prospective buyers. Economic problems in the early 2000s slowed the development of the role of the broker, but as new technologies continue to develop, the role of the broker was expected to continue to evolve.

PROPERTY MANAGEMENT

Property management is the operation of commercial, industrial

and/or residential real estate. This is much akin to the role of management in any business.

Property Management is also the management of personal property, equipment, tooling and physical capital assets that are acquired and used to build, repair and maintain end item deliverables. Property Management involves the processes, systems and manpower required to manage the life cycle of all acquired property as defined above including Acquisition, Control, Accountability, Maintenance, Utilization, and disposition.  Property management is defined as the responsibility of managing the multiple aspects which accompany the ownership of real estate. This is analogous to the role of managing events in any industry.

One important role is the liaison between the landlord and the tenant. Duty of property management companies incorporate accepting rent, responding to and addressing maintenance issues, advertising vacancies for landlords, and doing credit and background checks on tenants. The many facets to this profession include participating in and/or initiating litigation with tenants, contractors and insurance agencies. Litigation alone is at times considered an entirely separate function, set aside for trained attorneys. A property manager should be informed with new laws and practices in their given localities, cities and states.

Selling property - the process You know how great your home is, but when you sell your property, you have to convince someone else. The selling process can seem complex, but one should consult experienced real estate agents/ agencies to make sure it runs smoothly. The following are the main steps:

• Step 1: Appoint an estate agent
• Step 2: Spruce up your home
• Step 3: Get your Home Information Pack
• Step 4: Agree the sale
• Step 5: Up to exchange of contracts
• Step 6: Complete
  

the sale

There are two ways you can appoint an estate agent. Sole agency is where you give the job of selling your property to a single estate agent for a fixed period of time. The commission rate for a sole agency sale will be lower than that for a multiple agency sale, because that agent has a greater chance of being the one to find your buyer. Accept an offer via another agent and you might have to pay more than one fee. Multiple agency is where you instruct several estate agents at the same time, who will all try to sell your property. The commission rate for a multiple agency sale will be higher than for sole agency.

When you first meet your estate agent, they’ll give you an estimated value for your home, and a commission rate for both sole agency and multiple agency. Spruce up your home We get so used to the places we live in that it’s sometimes hard to see them through others’ eyes. But if you want a successful, quick sale, that’s exactly what you have to do and first impressions count for a lot. A few hours spent making your property look its best or even spending a bit of money to clear up some niggling problems could add to the price you get from a buyer.

Here’s a few tips to get you started Making your home more saleable:

• Think like a buyer – don’t overlook flaws just because you don’t mind them or you’re used to them
• Reduce clutter – get rid of everything but the bare essentials
• Decorate neutrally – buyers need to be able to
  

see it as their own home

Get your Home Information Pack A Home Information Pack (or HIP) collects together many of the documents a buyer needs.

The main elements of the pack are:

• Energy Performance Certificate – assesses the energy efficiency of the property from A (best) to G (worst), and gives information on how to improve it
• Sale statement – gives the name of the of the seller or sellers, the address of the property being sold and whether it’s freehold or leasehold
• Registered title documents – details from the Land Registry of the owners, any specific covenants and a map showing the property and its exact boundaries
• Unregistered title documents – some properties that haven’t been sold for many years aren’t registered with the Land Registry, though this is quite rare these days.

Up to exchange of contracts The buyer will then provide the agent with their solicitor’s details, which will then be passed on to the solicitor, so they can get on with drawing up the contracts. The next stage is where the buyer and their mortgage lender carry out any valuations and surveys on the building and check that everything is as it should be with the paperwork. It’s quite normal for a few queries to be raised, so this stage can take a little while. When this stage is complete, you’re ready to exchange contracts

and set a completion date, when the money gets transferred, and the property legally changes hands, the conveyancing process will be complete.

Completion is normally two weeks later, but can be earlier. It might even be possible to exchange and complete on the same day if you need to. Leaving a gap gives you time to make arrangements for moving out and tie up any loose ends. After you’ve formally exchanged contracts, you’re legally obliged to sell the property to your chosen buyer and they’re obliged to buy it from you. You should plan to move out before your completion date. As soon as you have completed the sale the property belongs to your buyer and they can move in immediately. Step 6: Complete the sale Completing the sale is usually as simple as getting a phone call from your solicitor telling you that everything has gone smoothly.

This means both parties’ mortgages have been paid off and new arrangements put in place, the conveyancers have successfully arranged the legal transfer, and the property officially belongs to your buyer. Selling your property is now complete – congratulations! What Is a Real Estate Developer? A real estate developer is a real estate professional who specializes in creating new developments or renovating existing ones, marketing them successfully, and selling them. Real estate developers often work with partners to share the risk and the workload, and they may work for big companies which conduct real estate development on a large scale or use real estate development as one investment tool in a diverse portfolio.

People can approach a career as a real estate developer from a number of perspectives; developers may

hold degrees in real estate development, or come from a background as a real estate agent, contractor, or architect. Working as a real estate developer is very challenging. Developers need to be able to assess a wide variety of future sites and determine whether or not they will be workable and acceptable. A real estate developer can look at an empty lot and find potential in it, or tour a decaying building and create a vision for remodeling and successfully selling it. Real estate developers tend to work on a big scale, constructing multiple units which may extend into the thousands or renovating a building to create a number of saleable units in the form of offices, retail spaces, apartments, and so forth.

Experience in the real estate industry is critical, as a developer must know the market well to know whether or not a project will be successful. Developers also need connections with local governments which will help them accomplish projects, ranging from friendly people in the planning office who may provide recommendations to help push a project through to allies on planning commissions and city councils who will promote their projects. A good real estate developer is also part of a much larger team. He or she needs to work with architects, contractors, landscapers, politicians, real estate agents, and numerous other professionals to see a project through from start to finish.

Developers have to select good teams, organize them well, and manage them effectively, meeting the needs of the project and the team members while staying in control of the overall development. Many real estate developers pick a particular area of specialty, such as high-end

residential properties, commercial real estate, middle-class subdivisions, low-income housing, and so forth. Real estate developers may also travel across a wide region to work on development projects, applying their skills to settings and cities which may be very different.

A development which appeals to the high-end residential market in New York City, for example, will not necessarily be as successful in Minneapolis, and a real estate developer must be able to be flexible and read communities well to meet their needs. Builders in India Real estate market in India is on upswing and builders in India are investing in all most all the parts of the country. Luxurious Apartments, Premium quality Flats, Independent homes, farm houses, Penthouses are some of the projects which are getting a lot of importance in residential sector. New constructions in this field are experiencing phenomenal growth. Builders in India or property developers are buying plots in large number for construction of townships and residential complexes. Apart from this construction in commercial sector is also on the rise. Shopping malls, shops, big Corporate Offices, Movie Halls, Amusement and Recreational parks etc are attracting investment from builders in India.

Within the past decade, the prices of both commercial and residential plots in India have registered more than 200% increase making the property investors fairly rich. A new industry of Real Estate Agents (more popularly known as the property dealers) and property investors has developed who keep a constant track of the available plots for sale in India.

With the relaxation in the property tax laws and Real Estate in India opening its gates to 100% FDI in real estate sector and inflow of Real estate

mutual funds, the market for Plots in India is bound to develop further. One cannot ignore the NRI Real estate investments flowing largely into the undeveloped Land in India that has fetched such high capital growth luring all the more investors.  Real estate in India is a bubble that seems to be blown in to maximum each time we hear of a price rise in the Indian realty sector. But then the myth is broken and a fact is established stating there's room for more. The real estate news shows a never ceasing expansion in the real estate developments everywhere. More real estate companies and group have been established in the recent few years.

The real estate discussion forum and Blog discussions have become a trend amongst enthusiastic property and realty investors. The Indian real estate market has developed from the local 'thekedaars' to real estate agents and realtors. Real estate sector has proven to be the best returns opportunity for investment of the long saved funds. The for sale real estate listings include everything from residential houses, apartments, townships, buildings to commercial and retail shops, complexes, mega malls, entertainment centres, office spaces and industrial set ups. Real estate construction companies have ventured into mass development projects that sometimes include development of integrated townships that are small self-sufficient cities among themselves.

Indian Real estates are a good fund-attracting site for the NRI's and other foreign investment seekers. The real estate trends that were more orthodox have undergone a paradigm shift to a more contemporary and modern outlook with a bloom in the realty situated in far away and more serene surroundings. This shift has given the Indian

real estate industry a newer opportunity of developing land that was otherwise considered useless and provide the tranquility of the mountainside holiday destinations right in your home. | | A most recent real estate report of the year 2007 shows Bangalore and Chennai as the cities most affected by the bloom in the real estate market in India. The realty prices have risen sky high.

The realtors and real estate agents in these cities are the happiest of the lot getting plum commissions because of the excess demand of the property in these areas. The real estate laws have also changed with emphasis on the customer demands rather than the builder choices. Real estate development jobs are not mere acquiring land and constructing on it. The whole realty development procedure involves careful planning about the location of the project and the desired customer base targeted then comes the land acquisition and then accordingly a topmost architect is consulted, the layout designed, raw materials customized, state-of-the-art infrastructure and techniques employed and perfect finishes are provided to give the made-to-order finish to each unit.

A strategic following of this trend can ensure the best real estate product and hands down sale opportunity for the realtors as well. Many sites provide an online real estate directory that provides all Indian real estate listings and Real Estate Builders, Agents and developers. Many websites also function as real estate portals and deal in property buy, sell, rent or lease. You can also research on the real estate business in India, the trends of the Indian realty market and get the latest report and news on the Indian real estate property. On this

website find all you would like to enquire about the real estate market in India, the real estate listings, a comprehensive listing of the Top Builders and finance schemes providing institutions as well.

LEGAL STRUCTURE

Since the 1970s, home buyers have been given additional protection under the law. Many states and municipalities require a seller of real estate to file a truth-in-housing statement. A seller must disclose any problems with the home, such as a wet basement or the presence of termites, on the form. Failure to disclose this information can result in the revocation of the purchase agreement or a lawsuit by the buyers against the seller for Fraud. In addition, some laws require an inspector to visit the property to determine if there are any problems. Most purchases of residential real estate require the buyer to obtain a mortgage from a bank or other lending institution.

The lending institution receives a security interest on the real estate, which means that if the borrower defaults in paying back the mortgage, the institution can obtain title to the property and resell it to pay off the mortgage debt. The federal government enacted the Real Estate Settlement Procedure Act of 1974 (RESPA) (12 U. S. C. A. § 2601 et seq. ) to ensure that the buyer of residential real estate is made aware of the many costs associated with the sale. RESPA mandates that a federally insured lending institution give the buyer advance notice of all the costs to be paid on the date of closing the transactions. These costs typically include the cost of property surveys, appraisals, title searches, brokers' fees, and administrative and processing charges.

Registration

; Attorneys

Property Registration in India ensures the ownership rights to the person in whose name the property is registered. The entire process of land registry or house registry can be quite a nuisance if you do not have a real estate attorney briefing you about the legal formalities and documentation procedures to be followed. You will find many private service lawyers or government attorneys who can advice you on the legal matters. All kinds of property registration and firm registration in India are done at the Sub Registrars office that also holds all records of any previously registered property in India .

House Registration Process in India

The exact process includes 6 steps:

• Step 1: Search the Property Registration

The property location, legal ownership document, date of purchase of the title, property transfer and inheritance issues, if transferred the legal authority of the transferee, clearance certificate from urban land ceilings authorities, payment of all dues like property taxes, electricity and water bills and any previous alterations in the property registration are the points that require careful scanning. This entire process can cost up to Rs. 10,000 and take 5-7 days to complete.

• House Registration Agreement

This process takes place at the Local Stamp Duty Office and takes around 7 days to complete. The fee involved is Rs. 100. Preparation of Property Sale Deed This is done by an authorized house registration attorney on behalf of the purchaser.

The final deed is printed out on a green paper with stamp duty stamp affixed on it. This involves a fee of 1% of the property value and might take 7 days again.

• Final Registration

The house registry or land registry is then stamped,

executed, and finally registered in the presence of seller, buyer and two witnesses at the office of the SUB Registrar of Assurances at 5% market value of the property as Stamp Duty. This process takes just 2 days to complete.

• Submission of Documents

The completed home registry is then submitted to the Reader of the Sub Registrar of Assurances for scrutiny. Then at the payment of 1% of the transaction value or Rs. 0,000 whichever is less, the documents are presented before the Sub Registrar. The seller then hands over possession of the property to the buyer. The documents are handed over to the buyer within 30 minutes of submission of the payments receipt.

• Mutation of The Title of The Property

The purchaser now has to apply to the local Municipal Authority to get the title of the concerned property mutated in his favor with all the relevant documents that your Real estate attorney would guide you about. The Municipal Authority then assigns the property value for levying property tax and then issue a letter of mutation in favor of the purchaser. Here is a list of sites to help you finalize all the necessary documents.

The ites are listed to assist you in all matters relating house registration and documentation. Housing Rental Options Houses on rent in India are providing accommodations to thousands of families who cannot afford to buy homes of their own. There are several other occasions when we thoughtfully look for houses on rent. Students temporarily shifting to another city in pursuit of higher eduction, employees of a company transferred to some other location on a short term assignment and businessmen who often require

to visit a particular city for commercial purposes are the categories of people that find rental houses the most suitable for their requirements.

Houses for rent are also hunted by professionals seeking jobs in bigger cities and visitors who want to stay in a tourist destination for a longer period. As the housing needs for different categories of people vary, so do the options available for renting a house. Hence, we find the most extensive range of rental homes in India from the modest and affordable ones to the most luxurious and highly expensive ones. House rents also vary from one city to another and even from one location to another within the same city. Moreover, it would either be a short term rental accommodation or a long term rental accommodation based on the rental agreement papers signed by the tenants and the landlords.

• Home Rentals in India

Although builders and housing boards in India are leaving no stone upturned, the gap between demand and supply of residential accommodations, particularly in bigger cities is widening. This puts a pressure on the segment of house rentals and we find house rents soaring, quite frequently, to newer levels in every category. The growing population of the country and demographic shift towards urban areas are also playing their parts in aggravating the scenario of housing rental in most of the cities. The houses available on rent in most of the cities are in the forms of single room flats or double room flats. It is also possible to get rental apartments with two or three bedrooms options.

For premium category of home seekers, such as corporate professionals and businessmen, we have

well furnished apartments, bungalows, villas, penthouses, duplexes etc. with good interiors and cozy environments. While renting a home anywhere in the country, it is a good practice to involve a property dealer. This is because the various real estate services provided by property dealers in India let you live in a rental house as long as you wish without any hindrance. To search availability of houses on rent in a city, you can take the help of real estate websites, such as indiahousing. com. There are other property sites also that offer you similar kinds of services and are being mentioned on this page.

When you have decided on the budget, next thing you want to know how big a house you want. This depends on your family size and your needs. In major cities or metropolitan cities, flats are generally sold on the basis of built up area or super built up area. Area is generally measured in terms of Square Foot or Square Feet.

Real Estate Agents,Property Dealers in India When our house hunt or search for Property In India begins, many people and institutions start getting associated with us. Among them, those who are going to be there right from the start to the end are the property dealers and real estate agents. They are those without whom hunting for a house for Property in India can become an arduous effort. Indeed, brokers and property dealers have made buying property in India simpler. Thus, whether we need to buy a residential house or a commercial one, we take assistance from real estate agents in India. Property dealers do not assist us in buying a

real estate property alone.

When we require to sell our properties for any reason, then also we seek the help of real estate agents. This is because they are the professional people who keep in constant touch with different types of clients, some of which may want to buy and the other to sell real estate properties, plots of land or residential houses. In this sense, the property dealers work as middlemen and help a property owner meet prospective buyers easily and surely, and of course by charging a reasonable amount of fee on both the parties of a transaction. It is not only the selling and buying of a real estate property that are being dealt by a real estate agency in India.

Even if, you do not want to own a house by purchasing since you do not intend to live in that particular place for long and are looking for a house on rent, so that you can stay as long as you wish and leave the moment your purpose of stay in the city ends. Similarly, if you are a property owner yet do not want to sell it altogether. Rather you like to rent out a portion or the whole of it to some tenants so as to ensure a regular income out of it. In this case, too, the professional help of property dealers will bring you the right client.

Property Dealers in India: Multiple Services There is a number of other real estate related jobs in which the helpful support of property dealers will see you through them quite easily and almost certainly. Getting home loans and getting your newly acquired

house registered at the local authority may become smoother and hassle free.

Similarly, you many need their advice and help in hiring the services of building contractors, home architects and interior decorators. The real estate agent of a particular locality has full knowledge about the availability of residential properties, their current capital values and the rate of appreciation. Hence, you can get a true picture of the real estate market of that particular area. This can help you in taking accurate decision regarding real estate investment. Buying home, selling home, Renting home, leasing home, real estate agents have knowledge in all fields. Property dealers deal in flats, apartments and have contacts with some of the top builders and property developers.

So, on this page, we have listed a number of property dealers and real estate agents operating across India who have vast knowledge of India Property and the real estate rates in India. Established in 1980, Lodha Group is a premier real estate developer headquartered in Mumbai. The Group is currently developing in excess of 29 million sq. ft. of prime real estate over 38 projects in Mumbai, Pune, Lonavala and Hyderabad making it one of the largest developer in the country. The group is now expanding into Western and Southern India and recently kicked off their geographic expansion by launching Lodha Bellezza, an unparalleled super luxury residential project in Hyderabad and is soon expected to launch its first project in Pune. In 2007, the group received one of the largest ever FDI in the real estate sector in India.

In addition, it works with leading financial Institutions, designers and product manufacturers to bring together the most premium

offerings for its customers. The Group focuses on development of residences and office spaces in various formats including standalone projects, IT campuses, weekend retreats and townships. From luxury garden residences in South Mumbai to large integrated townships in the suburbs, the group caters to diverse consumer needs across all segments. The Group currently employs over 1250 professionals. With a vision to build better lives, Lodha exceeds the expectations of customers through innovative, world-class solutions, thereby creating value and at the most opportune moment.

The group continuously strives to exceed the expectations of customers through innovative, world-class solutions leading to several innovative firsts to its credit - be it Lodha Bellissimo - Mumbai's first "By invitation only" project which is the only Indian residential project amongst the top 1000 landscapes in the world, Lodha Luxuria - Mumbai's first 'Fully Automated Township' or Lodha Aqua - Mumbai's first water inspired township. Lodha Group has created an entirely new residential category - mid-income luxury. A new sub-brand CASA by Lodha was created for this category, with essential quality and luxury endorsement, providing 'right sized' and 'right priced' products in Mumbai's suburban locations.

Lodha Group has extended this philosophy to office spaces as well, where it was one of the first in India to introduce the concept of branded office spaces through its unique offerings: Lodha Excelus - Signature offices catering to front office requirements of large corporate, iThink by Lodha - the ultimate IT destination for large back office needs and the recently launched, Lodha Supremus - Signature boutique offices, targeted specifically at mid-sized businesses. With a focus on building a world class organization, Lodha Group has attracted top talent

from premier institutions and B-school campuses, hired professionals from benchmark industries and built a proficient management team. According to the JP Morgan Property Report 2008, Lodha Group was ranked second in the list of "most sought after for PE investment in the realty sector.

Also selected as one of India's top 10 builders by Construction World, the group has consistently delivered luxury lifestyles through innovative solutions, not just by building structures but by building better lives.