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The realty sector can more than double its contribution to GDP to 13 per cent by 2025 on rising housing demand, if the government removes bottlenecks in infrastructure, lowers borrowing cost and makes process of approvals shorter, global property consultant CBRE said.
The share of the real estate sector in GDP is likely to be 6.3 per cent in 2013, CBRE said in a report titled ‘Assessing the Economic Impact of India’s Real Estate Sector’.
The size of country’s gross domestic product (GDP) was USD 1.8 trillion in 2012-13 fiscal.
The report projected that the realty sector will generate employment for 17.2 million people and supply 8.2 million sq ft by 2025, more than double the figures for the current year.
“India’s real estate sector is poised for significant growth in the coming decade as it benefits from significant opportunities such as increasing urbanisation, demand for new housing and the expanding urban fabric of tier II and tier III cities in the country,” CBRE said in the report.
That sector, however, faces numerous challenges like high borrowing costs, slow and uneven infrastructure development and lengthy approval processes, the report said.
“Once these bottlenecks are addressed, we can expect the economic contribution of the sector to increase considerably, with its share of the GDP to more than double from 6.3 per cent in 2013 to almost 13 per cent by 2025,” it added.
Commenting on the report, CBRE South Asia Chairman and MD Anshuman Magazine said the sector has the potential for significant growth provided country’s economic growth does not stagnate and these bottlenecks are removed.
The annual real estate supply in India is expected to increase from about 3.6 billion sq ft in 2013 to about 8.2 billion sq ft in 2025. Majority of this space is expected to be concentrated in the residential sector.
Urbanization in India has been increasing at an unprecedented rate, with almost 71 million people being added to the urban population from 2001 to 2011. At this rate, close to 534 million people will live in Indian cities by 2026. This offers tremendous opportunities for real estate development
Source: realtyfact.com/realty-sector-can-double-its-share-in-gdp-to-13-by-2025-cbre/
The realty sector can more than double its contribution to GDP to 13 per cent by 2025 on rising housing demand, if the government remov...
The rupee is down about 7% since a year ago and by around 39% since five years ago, which makes it cheaper for people earning in dollars and spending in rupees. India received the highest amount of remittance at $69 billion in 2012 among all countries, according to the World Bank.
Given the current scenario—a depreciating rupee coupled with stagnant property prices in India—non-resident Indians (NRIs) may want to buy property in India. “There was a huge run-up in property prices in 2011 and 2012. Now they are consolidating,” says Rohit Raj Modi, director, Ashiana Homes Pvt. Ltd, a New Delhi-based real estate firm.
Recently, there has been significant increase in enquiries from NRIs for property in India. “High net worth individuals (HNIs) and people from the middle income group are showing interest as they see this as an opportunity. They either plan to come back at some point in time or have relatives to use the facility,” says Rajesh Saluja, chief executive officer, ASK Wealth Advisors Pvt. Ltd.
However, there are a few things that should be kept in mind before buying a property in India.
Which properties can you buy?
The Reserve Bank of India (RBI) through the Foreign Exchange Management Act (Fema) regulates how NRIs can buy property in India. NRIs can only buy residential and commercial properties and not agricultural land, plantation property and farmland. However, properties falling under these categories can be inherited. “If you already held properties falling under these categories before becoming an NRI, you can continue holding them,” says Saroj Maniar, partner, Contractor, Nayak and Kishnadwala, a Mumbai-based chartered accountant firm. Such properties can only be sold to resident Indian citizen. NRIs can buy multiple residential and commercial properties in India. Also, no prior permission is required for such transactions. NRIs can hold the property in joint names with another NRI but not an Indian resident or a foreign national. The NRI’s foreign address is mentioned in the purchase agreement.
Documentation: “Normally, the documents required for registration of immovable property would include a copy of passport, photographs, copy of permanent account number card and proof of address if it is different from the address mentioned in the passport,” says Maniar.
Customers are also asked for their bank details, says Modi.
Funding: An NRI can either pay through rupee-denominated non-resident ordinary (NRO) or through non-resident external (NRE) and foreign currency non-resident (FCNR) accounts. Loans are also available and can be taken from any Indian bank within India or from a branch of any Indian bank in the NRI’s country of residence.
Exit options
NRIs must have exit options because they face certain restrictions when selling a property. “Before making such investments, NRIs should keep in mind the exit options,” says Chintan Patel, director-transaction advisory services (real estate, industrial and hospitality), EY. NRIs can sell residential and commercial properties to resident Indians, Indian citizens resident outside India or to Persons of Indian Origin resident outside India. Also, under Fema only $1 million can be repatriated each year if the initial investment was made from the rupee-denominated NRO account. However, if the investment was made through NRE or FCNR account, then the amount of initial investment can be repatriated without any cap at one go. “This is also subject to the restriction that an NRI can only repatriate sales proceeds of two residential properties in their lifetime which is over and above the $1 million limit for every fiscal,” says Maniar. However, out of the profits made, only $1 million can be repatriated each fiscal. The rest of the amount needs to be in the NRO account and/or invested in India. Again in the next fiscal, another $1 million can be repatriated.
As far as taxes are concerned, if it is a long-term capital gain, in case the property was held for at least three years, a flat 20% tax is applicable apart from surcharge and cess. However, if it is a short-term gain, then the tax is applicable as per the slab rate plus surcharge and cess.
Real estate investments require a lot of planning and follow up. Falling rupee should not be the only reason to buy a property in India.
Source: http://www.livemint.com/Money/1J8C9YqDn2x7XLGZ0tNKXI/Investing-in-real-estate-is-not-that-simple-for-NRIs.html
The rupee is down about 7% since a year ago and by around 39% since five years ago, which makes it cheaper for people earning in d...
In today’s modern living, lighting of the place we live
in, plays an vital role and becoming the first choice for both domestic and
commercial properties. A Fashionable Lighting Technology can create right
environment for a hale, hearty and happy living.
Experts identify six different ways of lightings such
as:
- Accent Lighting
- Ambient Lighting
- Decorative Lighting
- Informative Lighting
- General Lighting
- Task Lighting
Task Lighting is that which makes a task easier to execute, stress free and pleasing
– example, a light that makes preparation of an item in a kitchen platform or reading.
Accurately designed task lighting makes task performance easier by focusing, eradicating
of shadow, giving a proper type of cool temperature and execution.
Accent Lighting
enriches various specifics of a space or an object
to expose its color, texture, pattern and form; example, an art piece or a
fireplace in the Museum gallery.
Ambient
Lighting lightens up a space. For example, a room
from quite a few sources and sets a least level of lighting which is soothing
to the beholder. Ambient lighting is done typically by the reflection of the
surfaces and hardly by direct occurrence.
Decorative
Lighting does not have any compulsion to anything
else, but itself. The object discharges light that looks like a lighted
chandelier. All these scuffles are to make it a focus and center of attraction.
Informative
Lighting lights up the area that provides some
information to the observer that helps to become attentive of certain things
one should know. Example is an EXIT sign in an auditorium or a cinema hall.
General
Lighting is provided with no specific purpose, but
just to disperse darkness. Example, A Bulb lynching centrally from a overhanging
in a room as was the habit in our houses many years ago.
Home Lighting
Let us start with Living
room. It must have ambient lighting along with any other type as it is the prime
space in the house. TV should not be watched making the surrounding dark and switching
off the lights. Eyes have to amend each time the eye moves from TV to dark area
and back.
Same pertains to the Study room where study table may have a task lamp.
In the dining area or Dining room, light which is an approximation to days light should
be chosen so that original colors of the dishes are seen.
Pendent lights are not apt for Bed rooms. All Fan & Lighting switches must be accessible from
bed. If it is a double bed then from both the sides.
Stairs should have 2 way switches and light should not throw any shadow.
Special lighting display is required for Bath rooms as they contain many tasks
these days. The Jacuzzi and bath tub should be well lighted and switches should
be available from sitting position.
The cooking areas in the Kitchen require task lighting. It is a good practice to have at least
one light point in each room on emergency light.
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In today’s modern living, lighting of the place we live in, plays an vital role and becoming the first choice for both domestic and co...
We see many blogs now a days, few are good, few are great, few are up to the mark and few blogs are just disappointing. Blogs has always been a great source of information either to a reader or to an amidst blogger who would put his best foot ahead for a post. Though blogs have been an old medium to convey important information or any personal experiences, still this medium has not lost its charm in between all this technological advancements.
Social media has definitely taken over and is the future. But Blogs are like oasis in the social media platform.
Dreamz Infra has also strived to keep the blogging spirit alive and has always published good quality content to his readers. Whether the information is from the real estate world or general information for the readers, quality content with important information has always been our Motto.
We have a Great Infographic depicting the importance of Blogging:
Social media has definitely taken over and is the future. But Blogs are like oasis in the social media platform.
Dreamz Infra has also strived to keep the blogging spirit alive and has always published good quality content to his readers. Whether the information is from the real estate world or general information for the readers, quality content with important information has always been our Motto.
We have a Great Infographic depicting the importance of Blogging:
Blogging: An Option to Reach a Wider Audience and Create Brand Awareness infographic
Follow Dreamz Infra Review for regular news.
Follow Dreamz Infra Review for regular news.
We see many blogs now a days, few are good, few are great, few are up to the mark and few blogs are just disappointing. Blogs has always be...
"Read All @Dreamz infra Reviews & Build a Real Estate relationship with @Dreamz Infra"!!!
" Dreamz infra Stands for Innovation "
 |
| Dreamz Builds Life |
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"First and foremost" - Dreamz sell flats @ very cheap price (we will discuss about how it sells at low price at bottom of the page)
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Dreamz has Lot of Projects!!! so no need to keep higher Margin and cheat people !!!
Buyers beware of fake developers!!!! usually the flats rates in Bangalore is very high.
Only Dreamz infra Sells Flats at 40% less than the price of other Builders.!!!!!
Why you pay double of the actual cost????
dreamz sells flats at very reasonable price and provides free site/flat visits all weekends, in one single day we can visit 40-50 flats!!!!
"See it to believe it"
Yes!!!!Come to Dreamz and see it in your eyes to believe it and then you will understand the actual facts.
"Dreamz has a record of selling more number of flats in a year in Bangalore"!!!
 |
| @Dreamz infra @Bangalore |
Now your turn to drive here...Dreamz has everything!!!
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+dreamz infra
#dreamz infra
"Dreamz Dreams of making each and every Bangalorean to own a House in #Bangalore"!!!
Follow Dreamz Infra Review blog regularly."Read All @Dreamz infra Reviews & Build a Real Estate relationship with @Dreamz Infra"!!! " Dreamz infra Stands fo...
