Kumbh Mela- An opportunity for City builders to showcase their projects

Kumbh Mela, the most happening event for the millions of devotees across the globe, is currently being held in the recently announced smart city, Nashik.

Now, this is not only an opportunity for the entrepreneurs  and businessmen to boos their business, but also for the builders and developers in Nashik to showcase their finely crafted projects, both, residential and commercial.

With the slowdown in the real estaet sector in the recent years, Kumbh Mela emerges as an exciting opportuinity for the Builders and Developers to bring their projects in notice of visitors. The pilgrims and visitors include NRIs and people from different parts of the nation and the world which gives the real estate professionals a more potential bracket of buyers and investors for their projects.

This year, about 80 million people would be showing up for the mega event. The builders and developers have started exploring various dimensions of advertising to make the most of this opportunity by placing hoardings and posters of their projects across the city and nearby the Kumbh location. Since, the supply of residential projects in the market has been up to the mark but, the demand for these has declined rigorously over past 4-5 years in the city, that has led to many unsold flats and other properties in the city.

Also, this has become a much debated topic in the industry recently.  Do you think the builders should reduce the prices of unsold ready possession properties to boost the real estate industry? Each one of us will have a different reason while answering this question for or against the topic.

However, if we analyze and observe, the present scenario serves the purpose of all. A win-win situationf for the buyers who want to buy property at lesser prices and also, the investor and the builder who want to generate more income and great return on investments through their projects.

So, do we really feel that reducing prices of the unsold inventories of the builders will help real estate cope up with the existing passive situation?

Let us know what you feel.  Feedbacks are welcome!

What is the Real Estate Regulation & Development Bill?

Real estate industry in the late 1980s was a nascent industry. A market that was open for all but was explored by few. But, with the liberalization of the Indian economy, the industry flourished progressively marking the evolution of new age homes and residences that added more value and comfort to the lives of the people. With this the people had easy and quick access to various amenities within their compounds and in close proximity due to the township projects and residential complexes that were constructed by the builders & developers in different parts of the nation.

In today’s scenario, the real Estate industry has grown in multiple dimensions exponentially and is now one of the major contributors of the Indian economy. Real estate is the second largest employer after agriculture and is expected to grow at 30% over the next decade.

In order to make the industry more functional and productive, the Real Estate regulation & Development Bill was made. Some of the salient features of the Bill include:

Applicability of the Bill: The Bill was, initially, applicable to the residential real estate. It was then amended and is now applicable for both, residential and commercial real estate.

Establishing the Authority for Real Estate: This catered to the establishment of one or more Real Estate Regulatory Authorities in each Union Territory/State by the appropriate government for monitoring real estate transactions and to appoint one or more adjudicating officers to settle disputes and impose compensation and interest.

Registration of Real estate projects and registration of real estate Agents: A mandatory registration of the real estate projects and real estate agents who intend to sell any plot, apartment or building with the Real Estate Regulatory Authority.

Compulsory public disclosure of all project details: It stated mandatory disclosure norms of all registered projects such as details or promoters, layout plan, plan of development works, land status, contractors, architects, structural engineer, etc.

So, if you are new to the property market, here were a few points that you must know. These were some of the features of the Real Estate Regulation & Devlopment Bill. Come back to know more about this Bill that transformed the Real Estate industry and brought in more transparency in the property buying process. 

The 40-60 Manors?

Confused?

Wondering what 40-60 could mean? What do you think it is related to? Read on to know more…

Nashik is a city that has mushroomed into a potential real estate market for the investors who have been long waiting for exclusive properties for investment over the past few years. The reasons for this  being proliferating infrastructure, better educational institutions, more career opportunities and better living standards.

With the city being listed in the smart cities of India, the developments in the city have progressively appreciated the property value of Nashik. The place has now become an investment hub where the builders & developers have established some of the most lavish and appealing residential projects that are surely a customer’s delight.

Some of these projects fall in the budget range of Rs. 40-60 Lacs. These include:

Siddhesh Residency by Patil properties: A 2,3 BHK apartment located on Gangapur Road in Nashik

Samraat Tropicano by Samraat Group: This project too, is a 2,3 BHK apartment that is located on Gangapur Road in Nashik that adds to the options you can explore in this location under this budget.

Belleza by Empire Realty: You could also explore this residential complex that has 2,3 BHK flats with amenities of international standards to add to your lavish lifestyle on the Gangapur Road of the smart city.

Bhaskar Bhagirathi Apartment: This project is located in the Tidke Colony in Nashik which provides 2,3 BHK flats with impressive interiors and exteriors.

Waterways by Sanklecha: A project in Dwarka in the Wine Capital of India that provides immaculately designed 2, 3 BHK in the budget range of Rs. 40-60 Lacs.

So, if you too want to own a 40-60 Manor then some of the above mentioned residential projects by top players of Nashik could get you your dream home that not only compliments your lifestyle but, also gives you the warmth and comfort you have always desired to have in your home.