RERA Implementation: Why this is the Right Time to Buy a Home?

In the last couple of months, Indian real estate has been buzzing with RERA wind that has entirely changed the industry, giving a cheer for home buyers, but chill to developers. Real Estate Regulation and Development  (RERA) Act was officially implemented on 1st May 2017 making every home buyer curious to know how it will impact in home buying process and is it right time to invest in the property? Though, there will be quite confusing over its implication, but two things are clear with its implementation- Firstly, it will see a great decrease in the number of delayed projects and increase in the quality of projects.

After its implementation, a section of home buyers applauded the decision, though a few are still confused its actual impact.

Change in the Market Dynamics

There is no doubt that the real estate market has changed dramatically, including the demand and supply scenario. The demand must benefit the expectation raised by the act. However, developers will have to wait to see how these new norms will affect the on-going and up-coming projects. Increase in the demand and limited supply position will help in ensuring that every city that faces high-unsold inventory will have equilibrium.

According to the act, every state after the implementation of the act needs to draft its own regulations and establish the act within a year.

Developers were given time till July to get their projects registered under RERA. For many developers this could be a setback because buyers who have invested on their projects will ask for the amendment set by the RERA. Meanwhile, buyers must now consider investing in projects which fall under the act.

Let us now explore why buying a home during RERA regime is the right decision:

  • No More Delays in the Projects:

One of the biggest benefits home buyer will have is no more deferrals in the project. Now the builders will have to deposit 70% of the project funds in dedicated or escrow bank accounts to avoid delayed deliveries. In recent years, there has been a complaint from home buyers of getting late possession which eventually brings loss to the buyer financially. Developers have to provide complete details about the completion date or possession date of the project. Once this information provided in RERA, the developer has to follow the same. In case of delayed deliveries, the customer will now be entitled to a compensation equal to the EMI the buyer is paying to the bank.

  • Getting Access to the Project Details:

Home buyers can now have access to complete details about the RERA registered projects. One can find complete details about the division, district, amenities, possession date and other information. So if you’re planning to invest in upcoming projects, then first check if it has been registered under RERA.

  • Completely Legal Projects:

As per the RERA guidelines, developers will have to submit all the documents required about the project. Government approvals, land title status, project plan, and other official documents. This makes the project completely legal and builds the confidence in investing in the project.

  • More Transparency in the Project:

Transparency is what the real estate sector lacks and RERA will help in bringing down this issue. RERA has made this mandatory for developers to mention complete details about the price per sq.ft including the carpet area and built-up area of the apartment.

  • After Sales Service:

Under RERA, home buyer has complete right over asking for after sales service in the project within one year of possession. It is the duty of the developer to offer complete after sales service to the buyer once the deal gets closed.

  • No More Violation of Rules:

RERA allows home buyers to let their grievances heard. If the authority finds that the developer has violated the order of the tribunal or rule of RERA, then it will result to 3 years of imprisonment along with a hefty fine.

  • No Compromise in the Quality of the Project:

Developers constructing the project need to ensure of high-quality material are involved. Recently, there have been cases of building collapsing resulting to loss of lives. To bring down this mishap, the act has made it mandatory to provide the material information used in the project.

Conclusion:

Overall, for home buyers investing on a new residential project under RERA is a beneficial investment. Though in many states RERA rules still has to be notified, but in near months, rules will be levied on every real estate developer. Complete transparency and seamless procedure of the project will go a long way.

View Gurgaon Projects on – http://www.reiasindia.com/

Emaar India gets Occupancy for IT Park Project Digital Greens

Emaar India, the iconic brand and leading global property developer, has received the Occupancy Certificate for its LEED-certified Integrated IT Park Complex Digital Greens, located in Sector 61, Gurgaon. The project is located on the highly anticipated Southern Peripheral road with easy connectivity to the international airport, Faridabad, Delhi and Manesar regions.

Digital Greens is spread across a sprawling 6.8 acres with a total built-up area of 1.25 million sq ft approximately. The eco-friendly complex has been designed by Singapore-based architect firm HOK with cutting edge technology, state-of-the-art infrastructure and facilities. The executive architect for the IT Park project is US-based Studio U+A Norr

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Digital Greens, Digital Greens Commercial Gurgaon, Emaar Mgf Digital Greens Sector 61 Gurgaon , Digital Green Emaar Mgf, Digital Green Gurgaon, Digital Green Sector 61 Gurgaon, Digital Greens Gurgaon Price, Digital Greens Office Space

According to Mr Sanjay Malhotra, CEO, Emaar India, “We are happy to receive yet another Occupancy Certificate for our Projects and shall offer handover to our patrons shortly. This would be our fourth delivery in as many months. The realty market across the country is undergoing testing times, and achievement of these remarkable objectives is a testimony to our renewed efforts to fast track completion and handover of all ongoing projects to our customers”.

Prior to this, Emaar India has recently delivered The Palm Drive (2nd Phase) and Emerald Hills in Gurugram, as well as The Avenues and Grace at Esplanade in Chennai.

Emaar India has been incorporating green building guidelines in the design and construction of its projects. Digital Greens is a highly energy and resource-efficient LEED-certified green building that would considerably reduce the carbon footprint of the project as well as its users.

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Digital Greens, Digital Greens Commercial Gurgaon, Emaar Mgf Digital Greens Sector 61 Gurgaon , Digital Green Emaar Mgf

The environmental-friendly project has features like contemporary style, use of environmentally sensitive construction material, high-quality finish and technologically advanced infrastructure to offer an ideal work-life experience and healthy environment. Moreover, the project has integrated building management system, high speed elevators with Destination Control system and Automatic Rescue Device (ARD) system, centralised air-conditioning with high-efficiency chillers, double-glazed units for energy efficiency, noise and heat insulation, and efficient glass-to-glass distance for maximum natural light. Other features include power back-up, state-of-the-art life safety and security system, adequate parking spaces at ground and basement levels

About Emaar MGF Land Limited

Emaar MGF is a joint venture between Emaar Properties PJSC, Dubai and MGF Developments Ltd. The Company has been instrumental in bringing one of the largest FDI in the Indian real estate sector. Headquartered in New Delhi, the Company started operations in India in mid-2005 and is engaged in Residential, Commercial, Retail and Hospitality projects across India.  The Company is driven by its mission to develop and deliver unique integrated lifestyle and work place environments and planned developments and to be recognized as a responsible corporate citizen and an employer of choice. Emaar MGF is constructing master planned developments including residential, retail and hospitality properties to provide fully integrated self contained communities.

For BUY/ SELL / LEASE Digital Greens Offices Space Please Call- 09999964462 / INFOREIAS@GMAIL.COM

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M3M URBANA PREMIUM, Book Shops and Offices with Assured Return

M3M URBANA PREMIUM – Book Shops and Offices with Assured Return:

M3M Urbana premium is part of M3M Urbana, 17+ acre commercial complex, one of the three biggest commercial developments of India (retail and mix). This is likely to become the most sought after commercial development in north India in coming years. Consider DLF Galleria in DLF phase-4 as an example.

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M3M Urbana Premium is located at the Junction of the four most premium four sectors i.e. 64, 65, 66, 67 which is off the Golf Course Road Extension. Refer here for viewing the location on wikimap. It is spread over 2.9125 acres with a large frontage of approx. 190 Meters on a 60 meter Wide Sector Road.

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M3m Urbana Premium, M3m Urbana Premium Price, M3m Urbana Premium Booking, M3m Urbana Premium Location

It is an Ideal Project Mix – Retail, Anchor Store, Hypermarket, Multiplex, Restaurant & Food Courts, Office Spaces.Anyone who can visualise into the future and invests in URBANA is likely to reap real good benefits in terms of not only appreciation will have a share of pride of ownership of a part of URBANA .The best part is that URBANA deliveries have started except a small part of URBANA premium, which strategically has been planned for later development due to immense location advantage.

M3M Urbana With 17 acres of commercial development at one of the finest places in Gurgaon, URBANA will be among top three commercial developments in India (not Gurgaon). We have seen a miniscule success of cyberHUB. As per our forecast this shall be a mega success in comparison to all commercial developments in north India.

We request for a glance at the information below and consider getting back to us for more details.  There are only 11 units left in the stock in URBANA premium.

M3M URBANA PREMIUM LOCATION ADVANTAGE:

  • 2-3 minutes’ drive from the Golf Course Extension Road (SPR) has been declared a National Highway as per the NHAI and will be re-christened as NH-236.
  • Just 30 minute drive from Delhi International Airport.
  • Located on the Metro corridor, offering fast, convenient and comfortable connectivity to Delhi.
  • Surrounded by fast evolving most affluent residential neighbourhood like Golf Estate,Merlin, Victory Valley, Marbella, Emerald Hills, Nirvana Country, Ansal Essencia and future university at sector 64.
  • Situated in the heart of India’s most upcoming business hub.

INVESTMENT RATIONALE

Why Hi-Street model is the most promising?

  • Office Spaces give 7-8% of Fixed Returns annually but hardly any capital appreciation
  • Retail Spaces do give high capital appreciation but the rental income is low for initial some time, however in long term the rentals will be 8 – 10%
  • Whereas, Retail Hubs with Food Joints make for a good business opportunity, because the business success is more likely. There are various reasons for same i.e.
  1. High street retail normally has most effective maintenance cost advantage in comparison to all other models of retail activity.
  2. Food & Beverage outlets become an obvious choice for visit after long hours of shopping
  3. Weekends are becoming more special when you go out on a brunch or to dine with family/ friends
  4. Even on working days, these are ideal hangouts for extended corporate activities and an avenue to unwind in the evening
  5. Beside families – even corporates meet ups contribute significantly to the success of such complexes.

M3M Urbana premium Sizes & Prices

 

Configuration

Tentative Sizes

BSP (Rs.

Per sq. ft.)

Retail – Lower Ground Floor 200 – 1000 sq.ft 13,750
Retail – Upper First Floor 500 – 1500 sq.ft 25,000
Retail – First Floor 300 – 2000 sq.ft 13,750
Retail – Food Court (Second Floor) 1000 – 1100 sq.ft 12,500

We have Available Few good options with 11% Assured Return

Summary

So if you have any interest in a Commercial investment with

  1. Excellent location advantage,
  2. Time tested and proven format of High Street retail,
  3. One of the highest appreciation prospects of Gurgaon,
  4. The fastest growing developer of Gurgaon with proven track record & huge list of accolades/ awards,
  5. Significantly safer investment in comparison to most other options which may have risk of Supreme Court ruling.
  6. M3M has successfully delivered multiple projects now and successfully joining the league of trusted developers who can deliver.

Please get in touch with us for further details. We assure considerable value addition in our response to your queries- 09999964462

Or Visit Us at – https://goo.gl/tF45x6

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Book M3M Offices with Assured Return in Gurgaon

M3M Group Launches concept of Ultra Luxury Modern IT Space M3m Urbana Business Park at Urbana with Assured Return till First Lease or 3 Year whichever is Earlier. M3m Urbana Business Park Offers 500 Sqft Multiple Offices with Assured Return. Its Spread over 5.03 Acres in Urbana Commercial Vicinity. Urbana Business Park is Leed Certified-Green Building- Leed Benefit  of Leed Certified Green Building Highly Efficient On Water Usage –Zero Discharge Into City,30% Savings On Energy Costs, Increase Natural Light &Improved Air Quality, Use Of Recycled And Recyclable Materials.

Efficient Design: Large Floor Plates And Open Span Design, It Offers More Than 1350 Car Parking Spaces, 3 Basements.Fully Loaded: Fully Air-Conditioned, 100% Power Back-Up, BMS, Wi-Fi, World Class Security & Life Safety Systems.

FOr More Detail Visit-https://goo.gl/TeFuKD 

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