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CONTENT

yDEFINITION AND MEANING OFPROPERTY

yDEFN & MEANING OF REAL ESTATEyTYPES OF REAL RESIDENTIAL &

COMMERCIAL.ySEZyROLE OF REAL ESTATE AGENTSyPROPERTY MANAGEMENTyPROCESS OF SALE OF PROPERTYyREAL ESTATE DEVELOPERSyREAL ESTATE IN INDIAyLEGAL STRUCTUREyREAL ESTATE INVESTMENTyHOUSE REGISTRATION PROCESSyAHOME IN YOUR BUDGETyLODHA GROUPyCONCLUSION


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DEFINITION & MEANING

OF PROPERTYProperty is any physical or intangible entity that is owned by a personor jointly by a group of persons. Depending on the nature of the

property, an owner of property has the right to consume, sell, rent,

mortgage, transfer, exchange or destroy their property, and/or to

exclude others from doing these things. Property is divided into two

types: "real property" which is any interest in land, real estate, growing

plants or the improvements on it, and "personal property" (sometimes

called "personalty") which is everything else. (physical possessions

belonging to a person), Important widely-recognized types of property

include private property (any

property that is not public

property property, owned by

legal persons or business

entities. It may be under the

control of a single person or by a

group of persons jointly), public

property (state owned or

publicly owned i.e any property

that is controlled by a state or by

a whole community) In other words "Public property," refers to

ownership by a governmental body such as the federal, state, county or

city governments or their agencies (e.g. school or redevelopment

districts). and intellectual property (exclusive rights over artistic

creations, inventions, etc.), although the latter is not always as widely

recognized or enforced. A title, or a right of ownership, is associated

with property that establishes the relation

between the goods/services and other persons,

assuring the owner the right to dispose of the

property as they see fit.

Property is not a relationship between people

and things, but a relationship between people

with regard to things.


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DEFINITION &MEANING OF

REAL ESTATE

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

1) 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 easementacross 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.

2) 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, andlight fixtures. Property that is not affixed is regarded as Personal

Property. For example, furniture and draperies are items of personal

property.


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TYPES OF REAL ESTATE

The two major types of real estate are commercial and residential real

estate. Commercial real estate involves the sale and lease of property

for business purposes. Residential real estate involves the sale andrental of land and houses to individuals and families for daily living.

RESIDENTIAL REAL PROPERTY

What is Residential Real Property?

Business Definition for: Residential Property

Buildings 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 Indiahas seen mounting prices. A survey of the Residential

Real Estate News is sufficient to give a gist of the situation of residential

property prices. Indiahas seen mass developments in residential plots,

housing complexes and luxuryhousing units. The residential real estate

developments in India are not restricted to just the metro cities likeDelhi, Mumbai, Bangalore, Pune, Kolkata, Chennai and Hyderabad

but also the upcoming surrounding areas specially the SEZ's .


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Residential Property Market

The Residential Real Estate Developers In India have ventured out full

time into construction and development of large-scale housing projectsin 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 realestate 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.


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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.

Thebenefitsof 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.


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What is Commercial Property?

BUSINESS DEFINATION FOR: Commercial PropertyBuildings and land which are used for performingbusiness activities arecalled Commercial property. It can include a single/more offices,

buildings, factories, hotels and business houses. Itderives its income

from non-residentialsources.

Commercial property is real estate intended for use by for-profit

businesses, such as office complexes, shoppingmalls, service stations

and restaurants. Commercialpropertymaybepurchasedoutrightby a

developer for futureprojects or leased through a real estate broker.

Commercial property falls somewhere between residential andindustrial property.Practically every incorporated city uses a zoning

system toregulatetheuseofpropertywithinits jurisdiction. Inorder to

grantpermissiontobuild anewoffice complex or other profit-making

business, the citygovernment mustdetermine that the chosen area is

indeed commercial property. The zones which separate industrial,

residentialandcommercialpropertyareclearlymarkedoncitymaps.

Iftheproposedbusiness is clearlyinanarea zonedfor commercialuse,

thenthecitywillallowthe saletoproceedfor the stateduse. Ifanypartof the commercial property extends into a residential or industrial

zone, however, then the buyer must seek a 'variance', special

permissiontocross over a zoneboundary.

Commercialpropertycanbeheldby realestate agents whotreatitthe

same as residentialproperty. Signs advertising the availability and size


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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 toguarantee 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. Some commercial property zones in the city do

allow for light industrial usage, usually smaller factories with minimal

emissions and transportation needs.

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 important

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 oncommercial properties ranges between seven per cent and 10 per

cent net after deducting all costs.


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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 SEZdefinition. 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:

y To augment additional economic activity by attracting foreign directinvestments

y To Promote of exports of goods and servicesy To promote of investment from domestic and foreign sourcesy To create more employment opportunitiesy To develop infrastructure facilities of global standards


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SEZ India Benefits

y SEZ's offer economic progress to the area, the local inhabitants andthe country as a whole

y Exemption from payment of stamp duty and registration fees on thelease/license of plots to the SEZ developer.

y External commercial borrowings of upto 500 million USD a yearwithout any restriction of maturity to the SEZ developers.

SEZ Disadvantages

y Revenue losses due to various tax exemptions and tax benefitsawarded to the India special economic zones.

y Most Real Estate Developers In India are interested in setting up aSEZ 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:

y Santa Cruz, Mumbai, Maharashtray Cochin, Keralay Kandla And Surat in Gujaraty Chennai, Tamil Naduy Vishakhapatnam, Andhra Pradeshy Falta And Salt Lake in West Bengaly Noida, Greater Noida in Uttar Pradeshy Indore, Madhya Pradeshy Jaipur, Rajasthan


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WHO IS REAL ESTATE

BROKER?

Anindividualor firm employedbyothers toplanandorganizesales or

negotiatecontracts for a commission.

A broker's functionis to arrange contracts for property inwhichheor

shehas nopersonal interest, possession, or concern. Thebroker is an

intermediary or negotiator in the contracting ofany type ofbargain,

actingas anagentfor parties whowishtobuyor sell stocks, bonds, realor Personal Property, commodities, or services. Rules applicable to

agency aregenerally relevant to most transactions involving brokers.

Theclientis consideredtheprincipalandthebroker acts as theclient's

agent. Anagent's powers generallyextendbeyondthoseofa broker. A

distinguishing feature between an agent and a broker is that a broker

acts as a middleperson. Whena broker arranges a sale, heor sheis an

agentofbothparties.

Inorder todeterminewhether or notanindividualis actingas a broker

in a transaction, the type of services that are performed must be

examined.

The saleofresidentialproperty is heavily regulated. All states require

realestateagents andbrokers, whoearna commissionfrom theowner

ofrealestatefor sellingtheproperty, tobelicensed. Togetalicense, a


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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 ornegotiates 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.


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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 warrantsdenial 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

to those imposed on his or her principal. It has been held by somecourts 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 existsfor 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 areperformed 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.


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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 buyerand 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 thetransaction 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 absoluteregardless of whether or not the sale is made

to an individual whom the broker initially producedprovided the

broker was given ample opportunity to complete the transaction andfailed 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


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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.


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PROPERTY

MANAGEMENTProperty 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 andmaintain 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. Oneimportant 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.


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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

Step 1: Appoint an estate agent

The first step in selling your property is to appoint an estate agent,

wholl value your home and show it to potential buyers. There are two

ways you can appoint an estate agent.Sole agency is where you give thejob 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.


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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, theyll give you an estimated

value for your home, and a commission rate for both sole agency and

multiple agency.

Step 2: Spruce up your home

We get so used to the places we live in that its sometimes hard to see

them through others eyes. But if you want a successful, quick sale,

thats 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. Heres a few tips to get you started

Making your home more saleable

y Think like a buyer dont overlook flaws just because you dontmind them or youre used to them

yReduce clutter get rid of everything but the bare essentials

y Decorate neutrally buyers need to be able to see it as their ownhome

y Keep it light clean the windows and use light coloursy Outside and in buyers will often walk or drive past first, and

fresh paintwork and well cared for outside spaces make a great

first impression

Step 3: Get your Home Information Pack

AHome Information Pack (or HIP) collects together many of thedocuments a buyer needs. The main elements of the pack are

y Energy Performance Certificate assesses the energy efficiency ofthe property from A (best) to G (worst), and gives information on

how to improve it


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passed on to the buyer and then starts the drawing up of

paperwork.

Step 5: Up to exchange of contracts

The buyer will then provide the agent with their solicitors 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. Its quite normal for a few queries

to be raised, so this stage can take a little while.

When this stage is complete, youre ready to exchange contracts and seta 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 youve formally exchanged contracts, youre legally obliged to sellthe property to your chosen buyer and theyre 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!


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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 oruse 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.


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Real Estate In IndiaReal 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

Indian Real estates are a good fund-attracting site for the NRI's and

other foreign investment seekers. The real estate trends that weremore 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 o

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.


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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 projectthrough 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.

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, rawmaterials 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.

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 dealin 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 ge

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.


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LEGAL STRUCTURESince the 1970s, home buyers have

been given additional protectionunder 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 thebuyers 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 toobtain 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.Modern property rights are based on conceptions of ownership

and possession as 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 ofproperty may be able to exercise all possible property rights. Forexample, 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.


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India Property Tax rates

India Property Tax Rates have been rationalized as whole taxation

system has undergone a change. These changes are basically to evolve

the system and raise it to international standards. Like in Bangalore,

state government has introduced Capital Value System (CVS) forcomputing property taxes. Municipal Corporation Delhi has made

the whole process of paying property tax a very speedy one by making

an online website. Their Property Tax Information System (MCD-

PTIS) assist you by providing an online filling of your property tax,

return form, property tax calculator and also assist you in making

payment of the tax. There are many websites dedicated to property

tax in India and one can easily get tax forms that are also available

online these days. The Nagpur Municipal Corporation (NMC) is the

first local government in India to make record of its five-lakhproperties in city and making it online for the purpose of property tax

search and online payment of tax. Property tax division in India is

responsible for making Property tax Laws, regulating the same and

supervising the property tax assessment.

Property by law is basically of two types: real and personal. Propert

tax is levied on both real and personal property. Property tax

assessment for both of these is different. Any property be it a real or

personal is further categorized according to its use.

Moreover for the Property tax purpose in India real property is taxed

in the jurisdiction of its location where as personal property can be

taxed according to the jurisdiction or taxpayer's resident. Although

there are many other forms of taxes in India like Income Tax, Sales

tax etc yet the property tax is the single largest source of revenue for


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government. The tax paid by you is utilized to make roads, sewer

system, maintenance of parks, do developments in infrastructure etc.

The owner of the property pays property tax and local bodies (local

taxing unit) levy tax on property. The local taxing unit is a legal body

of government with elected officers. Property tax rates are determinedand these are based on the value of your property.

Property Tax Rates in India

For the purpose of Propertytax assessment, property tax rate is often

given in percentage, which is amount of tax per hundred-currency unit

of property value or it can also be expressed as permille in which

amount of tax per thousand currency unit of property value iscalculated.Whenever the value of property will change there will be

change in property tax value. Recently property tax assessment model

in Patna city got praise from UN. Patna Municipal Corporation has

initiated area-based, simplified assessment of property tax.

After knowing the worth of property the assessor does Property Tax

Appraisal that is placing a value on property. Most commonly to

calculate value the willingness of buyer to pay for that particular

property is judged. In addition to this value of property can be assessedby market or sales comparison method, cost approach or income

method. Under market or sales comparison method your property is

compared to some other similar property in the market. While in cost

approach method the consideration to current material and labor cost

is given. Whereas to calculate income method it is estimated that how

much income that property can generate and give to you. Assessor can

use other type of methods as well. Further any addition to your

property will increase its value and value of property is also linked to

the economy of that area. It is very important for taxpayer to monitorthe whole assessment process for property tax purposes in India.You

can always make property tax appeal if you find any discrepancy

regarding your tax.

There are many Property tax consultants in India. They help you


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thoroughly in the process calculating your property tax, knowing the

due dates and deduction. They lend all the professional help and

assistance in the field of property tax.

India Property Taxes

They also do the property tax estimates. Property tax payment

deadlines in most of the states in India are subjected to change. But to

make it fast and on time certain percentage ofconcession is given to all

property owners, who pay their taxes before the last date. This has

been done in few cities and states in India like Bangalore, Andhra

Pradesh etc. Sometimes government also provide Property tax relief

commonly in the form of Senior Citizen Real Property tax relief, First-

time Homebuyer Individual Income Tax Credit etc. Tax relief reduces

the burden of tax especially to senior citizen and people having low

income. Some times many people are not able to buy land or property

owing to low income, high property rates and even high property tax.

They can easily go for tax sale properties that can be purchased at

marvelous discount. These properties are sold, as original owner is

unable to pay tax consecutively for few years and the property is called

tax sale.All in all the whole scenario of property taxes in India is

undergoing major transformation.

India Real Estate Investment

India Real Estate Investment has proven to be the highest yielding

investment opportunity in the recent few years. The realty industry in

India is at its zenith and is thereby attracting the maximum investment

not just locally but overseas too. NRI Investments have taken a new

turn and have entered the Indian real estate market.

The various Real Estate Developments in India include construction of

residential units, townships, commercial complexes, office buildings

and retail stores and shopping malls. The newest entrant is

development of IT spaces that includes IT Parks and integrated


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townships for the employees of the IT industry in that IT Park.

Many Banks and Financial Institutions like HDFC Property Fund,

Dewan Housing Finance Limited-DHFL Venture Capital Fund, Kotak

Mahindra Realty Fund, Kshitij Venture Capital Fund (A group venture

of Pantaloon Retail India Ltd) and India Advantage Fund (ICICI),

provide the funds for real estate development to the Builders and

Developers for construction of these structures. These are the major

institutional investors in real estate in India.

The various factors responsible for the upswing in the India real estate

investments are:

The increasing demand in residential, commercial and industrialproperties

Growth in hospitality or hotel industryDevelopment of Special Economic Zones (SEZ)Increased living standards of people with higher disposable

incomes

Development of IT and ITES industry.The Government of India is also liberalizing by providing more

funds for real estate developments all across the country and

relaxing the economic policies. The various acts by the GOI inthis regard are:

Indian Transfer Of Property ActIndian Registration Act, 1908.Indian Urban Land (Ceiling And Regulation) Act, 1976Stamp DutyRent Control ActsProperty TaxForeign Exchange Regulation Act, 1973

Besides the GOI interest in the realty sector other investments

demanding mention are NRI Investments. NRI investment in real

estate segment in India have increased manifold. Special NRI cities are

being constructed by the leading Real Estate Builders in and around,

major cities in India like Noida, Bangalore, Mumbai, Pune, Kolkata


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etc.

A major chunk of the Foreign Direct Investments (FDI's) presently

goes into the Indian realty sector. Steps have been taken to manage and

further promote real estate investment in India.An Indian Real EstateInvestment Trust (REIT) is being formed that will facilitate fast and

easy liquidation of investments in the real estate market in India. The

Indian realty market is flooded with Initial Public Offer (IPO) by

various real estate and infrastructure development groups. This is

opening further avenues for investments in real estate in India.

NRI Real Estate InvestmentNRI Real Estate Investment has been on a sharp rise in the recent few

years. This can duly be accredited to the tremendous growth in the

Indian realty sector with an average of 30% last year. India being the

fifth largest economy in the world and the second largest among

emerging nations, has shown a potential growth in investments

destination for the NRI population.

Special NRI quota is also provided for various land sales byGovernment. Special Grants and services are also provided to the NRI

population to lure more and more foreign investment. All the leading

banks and financial institutions have separate NRI dealing services that

cover NRE, NRO bank accounts, housing loans and other home loan

related products. You can also refer to the various bank websites to

find out further details about the NRI investment procedures and the

help available.


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NRI Real Estate Investment in India

The real estate bubble is blooming with huge investments from all

sides, the Government of India (GOI), individual builders,infrastructure developers, large conglomerates and NRI's or the Global

Indians. The contribution of the Indian Government and other factors

to the attraction for NRI investments in realty sector of India includes:

Sale of land for residential, commercial and industrialdevelopment.

Infrastructure support for the realty development all across thecountry

Promotion of NRI investments and FDIPolicies for transparency and facilitation of real estate transactionsLiberalization of rules by GOI and RBI regarding NRI property

and NRI homes investment.

No restriction on the maximum number of properties that can bebought

Easy finance availabilitySimpler repayment processes like normal inward remittances or

debit in their NRE or NRO bank account.

The various above-mentioned factors have given the Indian real estate

market a potential of touching USD 30 million in the next five years.

An estimate of 5 million homes recorded sales in 2005-2006. Even the

returns from the real estate investments have out performed other

investments. Easy home loan availability by financial institutions in

India, NRI remittances and repatriation procedures and easy

operability of NRE, NRO and NRCS bank accounts has emerged as

the best of all the available prospects for the NRI's looking forward to

returning to India.


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Step 3: 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 theproperty value and might take 7 days again.

Step 4: 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.

Step 5: Submission ofDocuments

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. 30,000 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.

Step 6: 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.


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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.


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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 apressure 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 corporateprofessionals 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 beingmentioned on this page.


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AHome in your Budget

When you have decided on the budget, next thing you want to knowhow 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. To assess the are

requirement one needs to understand the following concepts o

saleable area:

y Carpet Areay Built up Areay Super Built up Area

Buying a Property in India

While locating a property, the buyer needs to be clear whether the

property is only for investment purposes or for actual use. If the

property you are buying is for actual use then you need to consider

whether that area has sufficient infrastructure.

This will include:

y Access to roads,y Power back up,y Water supply,


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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 whomhunting 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 theprofessional people who keep in constant touch with different types o

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 toown 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.


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PropertyDealers 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 truepicture 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 realestate agents operating across India who have vast knowledge of India

Property and the real estate rates in India.


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Established in 1980, Lodha Group is a premier real estate developer

headquartered in Mumbai. The Group is currently developing inexcess of 29 million sq. ft. of prime real estate over 38 projects in

Mumbai, Pune, Lonavala and H yderabad 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 realestate 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


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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 luxuryendorsement, 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 luxurylifestyles through innovative solutions, not just by building structures

but by building better lives


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VISION

The Lodha Group seeks to Build a Better Life for its customers by

leveraging its core strengths - the 5 Ls of Leadership, Luxury, Lifestyle,

Location and Legacy - to create landmarks of exemplary quality and

design, that conform to the highest standards of international living.

Leadership

The Lodha Group believes in Leadership through Innovation and has

time and again set new benchmarks for the real estate industry with a

series of 'firsts' to its credit.

y One of the first 'By Invitation Only' project in Mumbaiy Among the first few to introduce the concept of 'Full Cheque' payment

- in 1985

y One of the first to develop Individual Bungalow Scheme concept inMumbai's suburbs: 'Green Park'

y Among the first Customer Reward Program in Indian Real EstateThe Paradise Pleasure Points Program

y One of the first to offer 'Sky Garden'y Among the first to offer biometric fingerprint access control and

motion detector sensors for security


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CAREER WITH LODHA

The Board ofDirectors, the core Management Team and over 1250

associates, making for over 9000 man-years of combined industry

experience, are committed to the Lodha Group's singular vision - 'ToBuild a Better Life'One of the Groups core corporate values is We

will work with the best people - treat them well, expect a lot and the rest

will follow .This is well reflected by the quality of people coming on

board today to work for the group. Also by means of recruiting fresh

talent from top engineering institutions and B - Schools (IITs and

IIMs), the organization is committed to create a culture of exceptional

talent who can put their minds together to deliver the best products in

the market place and set new benchmarks in realty. The qualitative

growth in employee strength bears testimony that the processes and thecorporate atmosphere at Lodha Group are conducive for careers and

overall development.Human Resource Development is a major focus

area for the organization. The HR department is divided into four cells

- Relationship Management, Recruitment, Administrative Services and

Organisation Development. This unique approach, probably the only

real estate company to do so ensures that we have satisfied and

contented employees who are committed to make a difference. Lodha

group has also been awarded with the "Best Places to work in India"

award.The real estate industry is witnessing an unprecedented upsurge. With

operations panning across India and a current growth rate of 200% per

annum.The Lodha Group employs more than 600 professionals,

offering ideal opportunities to the talented and result-oriented

workforce.


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FINANCEThe internal property purchases have also reached an all time high

since the easily available Home Loans in India . Plots are now

accessible to the common man and adjustable into their future financial

planning as it has become easier to arrange the necessary finance to buy

a plot in India with the help of enthusiastic Banks providing innovative

home loans solutions. Loans are readily available for buying any

approved plots in India, pre-constructed property or any undeveloped

residential, commercial or industrial land in India.

Home Loans in IndiaHome loans in India have made people Buy Property in India inspite of the skyrocketing prices. Today, we find considerable Real

Estate Investment in India, either in the field of Residential Property

in India or Commercial Properties in India. Home Loans in India are

disbursed by many Banks as Loan Banking is on of the mos

important function of the Financial Services in India. Property

Dealers and Real Estate Consultants in India usually recommend that

we undertake appropriate Home Loan or Mortgage Loan Counseling

so that we can Buy Apartment in India at an affordable MortgageRate.Purchasing the home of your dreams is not an easy task.

Especially when you plan to buy a home on loan. Home loan means

that you buy a house on installments. In simpler terms when you wan

to own a home and cant afford to pay the amount in lump sum, you

can pay it in monthly installments with an interest rate.


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IndiaHome Loan Rates

The interest rates of home loans are expected to go down even

further according to analysts who foresee a cut down in the rates b

the RBI in the wake of the decision taken by US Federal Reserve tocut its rates by a significant margin.

There are number of companies offer Cheap home loans at a low

interest rate. You can avail loan against existing house for renovation

or expansion etc. There are many nationalized banks that offer

finance for affordable housing.India Housing has put together a

comprehensive data to provide you with the cheapestHome Loans

available in the market. We have listed all the important housing

finance institutes and some of the top home finance banks providing

lowest interest rates.

y ICICI BankHome Loansy IDBI BankHome Loansy HDFC BankHome Loansy State Bank of India


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SOCIAL INITIATIVES

The Lodha Group's vision of 'Building a Better Life' extends to its

social responsibilities to the society and the community at large, to

create a better life for its brethren in the society through proactive

social initiatives.

EDUCATION

Two schools by the name 'Chandresh Lodha Memorial School' are runby the group to provide good quality education to the under-privileged.

Located in Mumbai's two upcoming suburbs Dombivali and

Nalasopora, each school has more than 4000 students across the pre-

primary, primary and secondary sections.

Fees are made affordable through subsidies provided by the group.

These schools focus on creating well-rounded individuals through a

blend of excellent academics and extra-curricular activities such as

dance (Indian and Western), Yoga & Meditation, Computer Training,

Drama, Elocution and various sporting activities.


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VOCATIONAL TRANING

The group sponsors yearly training workshops for people seeking work

opportunities in varied fields such as electronic repairs, diamond

polishing, cooking, henna application and computer related training. Year-round computer training programs are provided at subsidized

rates to deserving candidates.

AFFORDABLE HOUSING

In an effort to make good quality housing accessible to the other strata

of society, The Lodha Group ensures that at least 10% of its annual

constructed area is dedicated to projects which cater to the lowermiddle class. These projects are conceptualized, executed and

delivered with the same expertise and in compliance with the 5 L's that

characterize each Lodha project.


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BEAUTIFICATION

Various public places such as roads, pedestrian areas and parks have

been paved and beautified by the Lodha group, through extensive

landscaping.

DIASASTER RELIEF

The Lodha Group is at the forefront providing active and timely

assistance to the affected through donations and group memberparticipation.


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QUESTIONAIRE

Can you brief us on the history of the organisation?How has the company grown from the time it has

emerged?

During the time of recession was the firm affectedand how did it manage?

What kind of employment opportunities areprovided?

How does Lodha deliver its role towards socialwelfare?

Does the firm hire real estate agents/brokers toapproach its customers?

What are the basic resources used for construction?Has the firm gone global?How does the business help in regional

development?

How does the firm help the customers in gettingfinance?

How does Lodha market its upcoming projects?What kind of environment exists in the

organisation?


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CONCLUSION

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