Cp67 New feed – Umang Jindal
This is undoubtedly the biggest and the most noteworthy development for CP 67 by Homeland Heights.
Mr. Umang Jindal, Amity University alumni and an esteemed student of the respected University of Bath, has inherited the vision of his father and combined it with his undying passion for quality real estate. This has led to the young lad receiving a very coveted title from Karan Gilotra, Chairman, Punjab State Chapter.
Yes, Mr. Jindal has been appointed as the new chairman of the Punjab Housing and Urban Development Committee under the Punjab State Chapter of PHD Chamber for this year i.e. 2020!
This development is a result of the constant involvement and rich experience that have been displayed by Jindal in the field of real estate.
The Punjab State Chapter is now looking forward to several positive developments here after including constructive activities in the field of real estate and constant support for the membership drive in the state.
We all know that Umang Jindal has been playing a very pivotal role in the development of some of the most ambitious housing projects initiated by the Homeland Group across Mohali and several neighbouring regions of Northern India.
Mr. Jindal has also been honoured with the north India Entrepreneurs Award in 2014 all because of his extraordinary commitment towards development of real estate and expansion of his empire, all the while making more advanced, traditional and functional real estate products accessible to people of various income groups.
Umang Jindal is known for his relentless contribution towards and activities in the real estate market. With his upcoming project CP 67 he expands to reach investors and home buyers of every income group. This ambitious project boasts of 2,000 car parking slots and 126 apartments in addition to 165 office spaces. The dedication and motivation with which Jindal has worked to expand his inheritance and empower the real estate industry are phenomenal and these characteristics have led him to achieve so much at such a young age.
5 Critical Factors That Will Impact Your Decision To Move From A Home Office To A Commercial Office Space
You have started a business and eventually you will expect it to grow. Whether it is in terms of annual revenue, number of employees, the scale of projects, increase in cash flow, improved profit margins, enhanced goodwill or any other factor, you want your business to excel at it. One of the most crucial aspects of business growth that are quite often overlooked is its location.
If you are thinking about relocating your office from your home to a more functional and resourceful commercial office space, you might be able to realize your expansion and growth goals sooner than you think. Running a business from home can be comfortable but it hampers your growth and ultimately you end up making certain compromises with several professional standards that you could easily uphold if you were functioning from a traditional commercial space.
Following Is A List Of 5 Essential Things To Consider Whenever You Decide To Move From A Home Office To A Commercial Office Space
1. Decide Upon Your Budget
This is one of the biggest factors that you will have to consider when you are looking for a commercial office space. The place has to be affordable and functional. You would also benefit a lot from consulting a financial advisor regarding the potential income that can be generated from that commercial space. The area of the office along with many amenities attached to it is going to directly impact the final cost of your future office.
2. Consider A Co-Working Space
This is another consideration that you should never ignore when you are thinking about moving from your home office to a more productive external place of business. Co-working spaces are gaining popularity because of their very simple concept. Several studios and offices along with commercially owned floors and showrooms have been converted into co-working spaces that cater especially to the millennials around the country. You will have multiple options with regards to the size of your cubicle, the expanse of your desk, attached amenities, Wi-Fi facilities, refreshments and cafeteria, and much more all under a single roof! In return for all these superlative services, you will of course have to pay a monthly rent / lease which is again negotiable based on your workload and the number of hours you need the co-working space for
3. Easy Connectivity Of Office Location
Any commercial office space regardless of where its geographical location is, should always have excellent connectivity to nearby cities and commercial and residential hubs. For example, connectivity to the nearest:
- Bus stand
- Railway station
- Recreational centers
- Cafes and restaurants
- Medical stores, and other important amenities is a very important factor when looking for a completely functional office space
It adds convenience, makes the office space easily accessible to all your employees via different modes of transportation and enhances the efficiency of your office operations. In the long run it also increases the value of your investment.
4. Relevant Services That Enhance Your Business Functionality
This is also a very critical point to consider. For example if you own an online grocery store, working from your home office will not be practical in the long run. You will eventually decide to relocate to a fully fledged and functional commercial space as your operations grow and your business flourishes. It will work out well in your favor if you can locate a local delivery service that caters to the region you are functioning in and is readily willing to partner with you for the same. Similarly, moving your wholesale bakery business to a commercial location that is studded with departmental stores and similar market areas that offer all the raw materials for your business is again going to be a critical factor that will impact your decision.
5. Special Amenities And Facilities That Define Your Corporate Space
There are several factors at play here. Easy connectivity with wide roads and properly lit up highways is one factor that we already mentioned. In addition to this:
- Ample parking spaces
- Secure tagging of all the vehicles coming in and out of your office complex
- 24/7 electricity and water supply
- Clean and functional washrooms and recreational areas for all your teams
- Conference halls properly equipped with the latest technology
- Uninterrupted Wi-Fi services with high bandwidth
- Well maintained air conditioners and overall insulation
- Security measures that include both pass-code verification and biometrics as well and many other facilities would dictate this decision of yours
Remember, you are relocating to a specialized and highly functional commercial office space to make your business more efficient and earn higher profit margins. These amenities should never be compromised on.
Whether you are working from your home or from a dedicated commercial /corporate office space, your business cannot come to a halt. You have to constantly work towards progress and the goals that you have set for yourself as an individual and as an entrepreneur. A little bit of strategic planning and a lot of thought is going to go into this choice. Picking the right commercial / corporate / office space for your business will get you several steps closer to your ambition becoming a reality.
5 Ways To Stay Well Informed When Leasing A Commercial Property In Chandigarh Or Mohali
Mohali and Chandigarh industrial area give you a lot of options in terms of commercially leasable properties. Following is a little glimpse of some of the most popular choices that are much sought after:
Phase 8 Mohali, IT Park
This is one of the most popular commercial locations in Northern India where you can find large properties of up to 2000 sq ft. Go for it if you have a budget of about 1 to 1.2 lakh INR.
Sector 66 & 67, Mohali
IT companies and startups prefer this area a lot and if you have around 60,000 to 70,000 INR in your pocket, you may check this out.
Sector 82, Mohali
This is also very popular among businesses of all verticals having a budget of about 70,000 to 85,000 INR. Similarly, there are a number of other areas such as sector 118, sector 86, sector 74 and many other up-and-coming commercial hubs that promise a lot in terms of facilities, infrastructure, accessibility and potential for growth and expansion among other things.
But things are not always as they seem to be. Investing in any of these avenues or leasable properties might as well remain an unfulfilled dream for you if you don’t keep yourself well informed and up to date.
Follow These Tips Below Religiously If You Want To Secure The Right Commercial Property On Lease In Chandigarh Or Mohali
1. Engaging The Services Of A Commercial Real Estate Agent
You can easily find plenty of experienced and highly skilled commercial real estate agents in Mohali and Chandigarh. They will help you find the most strategic and productive location for your business. If you want legal advice on lease negotiations, they are the ideal resource. You can even ask them for assistance in finding landlords that offer improvement incentives in their leasehold contract.
2. Do Not Hesitate From Negotiations
You will always be advised never to accept the first / initial offer made by any landlord. Always try to negotiate the price or find a possibility for any concessions on the property you are about to lease. Remember, regardless of how much you are in love with a commercial property in Chandigarh or Mohali, be willing to walk away from it if you want to get the right price. This way, the landlord knows that you are negotiating from a strong standpoint.
3. Seeking Legal Help Before Signing On The Dotted Line
f you do not have the right legal advisor / lawyer by your side, you might end up signing on the wrong commercial lease. This might have negative repercussions for your business. Before signing on any legally binding contract, the document should be approved by your lawyer. Give him to perform a thorough scrutiny of the terms listed in it. Your legal advisor is going to work in your best interest and that of your business.
4. Talk About Improvement Costs
Whether you are looking for a commercial office space in Mohali or Chandigarh or any other neighbouring areas, there are always going to be some improvement costs involved. The property is not going to be handed over to you in perfect condition. Speak with your potential landlord about the required minimal structural improvements beforehand. All the expenses and terms of any improvement should be listed in the contract. Ascertaining this cost is critical because it is what makes the property usable for any tenant.
5. Love Thy Neighbours
Yes, it is plural. This is because in many cases you might be sharing the leased commercial space with a few neighbours. It could be a common washroom or a single cafeteria or may be a big yet common parking lot. Depending upon the degree of adjustments you have to make in this regard, you get more negotiating power too. Don’t forget to ask for additional concessions if you know for sure that your neighbour is going to bring in excessive amounts of foot traffic or may result in a bit of extra strain on electricity or water supply due to the nature of their business. Having enough information about the business operations of your neighbours and the way they conduct themselves is very critical in making this decision.
6. Litigation On Property
Finalizing a property is just not possible without taking into account the property litigation related terms. Make sure your office space is RERA approved and to ascertain that, a specialized consultation from a real estate agent / expert is a must. Look for any counselling procedures from real estate owners / developers for the same. Always look for the following crucial points with regards to the legality of your property:
- La nd disputes if any with regards to previous and current ownership
- Adverse possession claims
- Breaches of lease contracts
- Commercial lease renewals (contested and uncontested)
- Assignment and subletting disputes
- Landlord and tenant insolvency
- MEES (Minimum Energy Efficiency Standards)
- CRAR (Commercial Rent Arrears Recovery)
- Dilapidation and repair matters
- Mortgage possession claims
- Injunctions and emergency court actions
- Outstanding rent arrears
- Infringement of property rights
- Notices to terminate lease: landlord and tenant
- Party wall and boundary disputes
Taking these points into consideration while picking a commercial property on lease will let you avoid all potential risks that might adversely affect your business’s reputation and growth.
7 Amazing Facts You Didn’t Know About CP 67
CP 67 is already a very extremely popular and lucrative site for investment. It is owing to its location and the many facilities that it boasts about. Its strategic placement makes it close to the International Airport Road in Mohali and also links it to already existing and upcoming highways leading to many major stops and destinations in the north of the country such as Patiala, Ludhiana and New Delhi and NCR and many more.
The project brags about the most luxurious high street retail and office spaces. It is one of the very few offerings in Mohali that come with completely well-serviced apartments and the most awaited PVR multiplex with third-generation 3D and 4K projection. This project is going to be the first luxury hospitality venture in Mohali.
The Quality Of Steel Used
Did you know that the quantity of steel used in the construction of CP 67 is enough to wrap around the Tricity region twice and you will still have enough left to build a 2 story building? Yes, apparently CP 67 is one of the most ambitious real estate projects that the country has seen in recent times and this is quite evident here. Moreover, the quality of steel used in the construction of CP 67 is such that it can even be used to build a railway track that can easily last for more than 200 years, which is double the average age of a regular railway line.
Did you know that CP 67 is capable of producing 16.05 MW of electric power on its own? Its phenomenal power backup systems are constantly working to ensure the smooth and uninterrupted functioning of the numerous IT offices and retail spaces that it is going to house. This much electricity is more than enough to power the whole of sector 22 and some parts of the sector 17 market, including the ISBT! This is to say that the investors in this area, both residential and commercial will never ever face any shortage of power.
Did you know that the amount of concrete used to build the many structures of CP 67 and its numerous facilities is enough to build the very famous Elante mall 10 times and we would still have enough left to make a boundary wall around those malls? CP 67 is one of the most prestigious projects in Punjab and is highly coveted because of its quality construction and the best in class materials used. Why else do you think the prices of this property are constantly rising?
Did you know that the parking area of this real estate project can make space for more than 1000 cars? Yes, this should not come as a shock to you because the number of offices, luxurious IT spaces and commercial units this sector offers is more than what any other fast developing project in the Tricity region has ever come up with in the past decade. To make life easier for all of them and to manage visitors seamlessly, this was a conscious call the developers made.
Did you know that each and every building constructed in the CP 67 project supports solar power generation? There has been a specific focus on installing kVA inverters that are capable of handling high loads. This means you can even run appliances such as geysers and ACs with solar power.
Made Of Glass
Did you know that the major section of your high rise building apartments and office units is made of high strength and weatherproof glass? This means that they let in all the natural sunlight during the day and that too without letting the harmful UV rays enter your space. You get to save more electricity with this intelligent choice of glasses that do not just protect your home from harmful weather but also prevent your furniture from fading in direct sunlight.
Did you know that the Tricity region is already one of the cleanest areas and Chandigarh the least polluted city in the country? CP 67 is adding another chapter to this leaflet. It is going to be one of the most environmentally friendly places to invest in. Surrounded by lush and well-manicured green patches, this real estate project is going to offer an AQI ranging from 50 to 60 which is way more than that of Chandigarh (70 points on average). According to reports, only the best IT and telecom companies, marketing and advertising companies and consultancies are going to be investing in this region. The best in class retailers, corporate houses and franchisees are going to usher in a new wave of growth here very soon. To know more about the many incredible benefits of investing in this property, click here or visit CP67 right now!
CP 67 – The Rising Commercial And Retail Hub Where You Should Be In 2020
CP 67 is a very lucrative option for both small scale and large scale investors in Mohali. It is an arena where people are going to shop and dine and get entertained. CP 67 is not just a collection of a few shops. It is an ambitious project that offers world-class corporate spaces, entertainment venues, food arenas, office spaces and a highly conducive infrastructure for IT services along with several options for retail spaces as well.
According to the current trends, sector 67 and nearby areas are developing at a rapid speed. The current price rate or the average price range per sqft goes from Rs. 2,209 to Rs. 46,000 per square foot. The average comes out to be Rs. 34,992 per square foot which is a 53% price rise recorded over a period of one year.
Connectivity And Infrastructure - The Undisputed Highlight Of CP 67
CP 67 is arguably one of the most profitable and cleverly thought about projects that we have seen in a long time. It is fast approaching its final stages of development and the biggest highlight of it is its strategic location. The Mohali International Airport is a few minutes away from this growing commercial hub. Other than this, there is a plethora of eateries, retail shops, schools and colleges, information technology hubs and plenty of facilities such as hospitals and rising startups, useful and affordable amenities and an overall world-class infrastructure that await its investors. In addition to this, it is also easily accessible from the International School of Business, Quark City, Mohali Railway Station, PCA cricket ground and even the most visited malls of the Tricity region. This seamless connectivity is what everyone wants right now and this is what CP 67 offers at a very affordable price.
- Highly profitable corporate spaces that comprise six stories offices and smart office infrastructure with common pantry and attached washrooms
- Well designed and superlatively structured retail outlets that will be housing the leading brands from not just all over the country but from across the globe offering world-class lifestyle goods, gadgets, apparel and accessories.
- Upcoming information technology hub which will be functionally perfect and aesthetically appealing to the well-educated millennials of the Tricity region.
- Food arena which is in high demand especially ever since the biggest food brands have entered into the Indian market.
- Entertainment venues for everyone that will offer next-generation 3D and 4K video projection, super comfortable recliner seats and much more.
The current price trends of this region are showing an upward trajectory. These trends are going to help you as an investor to know whether it is the right time to invest in this location or not. You will be surprised to know that projects such as the CP 67 have made it possible for practically everyone to own a thriving commercial property in this highly lucrative sector of Mohali. If you have 1.4 lacs in your pocket, you can buy a reasonably trendy and strategically located commercial space in Mohali sector 67. The range goes up till 54.96 lacs and presents highly profitable options, especially for the middle class and upper middle class income groups. In this time and age, CP 67 presents a very viable, sound, practical and lucrative option for investment. To know more about this property and discover avenues that ensure steady and high returns, click here or visit CP67 right now!
Property V/S Gold: What is the Right Investment for You?
Which one to buy- gold or property? If you are savvy enough, it may seem like comparing apples to oranges. And somewhere, it is.
It is a fact to consider that investment in real estate is a golden saving, even if investing in gold is a long haul. Well, you may be confused here, but investing should always be wise and remain profitable for all times.
To a certain point, there are some features that both gold and real estate hold in common. Both types of investment share at least three features. One is durability, second is a rarity, and the last one is scarcity. It may not be easy to decide while considering these similar characteristics. However, it is nobler to know the differences between the two before you step ahead for gold only.
Size of Investment
Without any doubt, the property has a huge size investment. The land as a limited resource has an increasing demand coming with exponential prices. Investing in the property needs a lump sum amount to pay as a down payment, including debt financing. On the other hand, the size of investment for gold relies on your investment appetite. Buying gold as low as 1 gram is beneficial; it may be subject to additional charges.
Think of the commercial properties where you can set up your office and boost your business! Property is the most elegant way to produce a daily monthly income. Even if a business owner prefers luxury office space, the revenues still enhance. However, it cannot be said for the gold because market prices fluctuate. If the gold price drops, the investment value also goes down.
Buying property remains fruitful as it is ideal for long-term investment. But, gold has short and long-term tenure, out of which, long-term investment is beneficial.
Property is subjected to low volatility as compared to gold. The value of gold varies almost every day, but real estate’s value comes out with occasion and season.
Though the property has less liquidity as compared to gold, selling off your property requires several days or months to sell. Buying and selling gold is simple, but its selling rate is not as remarkable as the property’s price when sold.
The structured tax benefits of the property include mortgage tax deduction, depreciation, and maintenance of services while calculating the tax. Gold attracts a tax of capital gains.
Affluent Transparency in Prices
Due to the unavailability of past data, sometimes, while dealing with property, the prices may not be as transparent as the gold. However, the active trading of gold in the market keeps its prices transparent.
Investing in a thing that generates revenue is always helpful. And for this, real estate has vital results because it is not only a long-term investment to sell later, but also generates the high revenue as the real estate sector has a high-profit scale, especially in India. Thus, be wise to your investment; after all, you need to secure your future.
Treat Yourself to the most stress busting therapy!
There is a certainty. Then there is sense-certainty. Like the one you feel while touching, feeling and seeing perfection.
Rome was not built in a day. Certainly, We took quality time as well to make an equally lasting wonder.
You have the right to excellence. We have the privilege of delivering quality.
Walls, columns, corridors, rooms…your apartment needs a little more…thoughtfulness.
7 Reasons To Be At CP 67 Now
The Homeland CP 67 is probably one of the most ambitious projects that the Tricity region has ever seen. If you talk about the top most visible and tangible projects located just at the airport road, the CP 67 is hands down a winner. The project enjoys 100% visibility and is walkable from sector 68, 67 and sector 80 as well.
Hopping down to the airport is going to be a fun ride for you if you are one of the fortunate residents of CP 67. Where the majority of cities across India make the traveller drive long distances and fight through thick traffic to get to the airport, the CP 67's strategic location and superlative infrastructure do away with any of those difficulties. This however is just one of the many reasons to be here. Following is an outline of more reasons to choose CP 67 as your permanent residence or workplace.
Close Proximity To Important Buildings And Centres
The CP 67 enjoys a very unique location because it is very close to multiple public transportation facilities and other civic amenities as well. You will be delighted to know that all the prominent schools and institutions such as Sebiz Finishing School, International School Of Business, Learning Paths School, Amity Institute Of Law, Amity Global Business School, Kendriya Vidyalaya, and also IISER are very easily approachable from this project. Central government offices such as the Municipal Corporation of SAS Nagar, Sub Post Office, Startup Accelerator Chamber Of Commerce, Assistant Excise and Taxation Commissioner Office, Punjab Forest Department, and Income Tax Office are also very close to this project.
Strategic Location That Lets You Enjoy Fast Commute To The Hottest Hangout Spots
Because the CP 67 project is cleverly located on the airport road, it enjoys easy and fast connectivity with the primary locations and hotspots of the Tricity region. The Chandigarh International Airport is just 15 minutes away from this project by the airport road. The very popular Mohali cricket stadium is just 5 minutes away and the SAS Nagar railway station is just 3.4 kilometres away. If you want fast connectivity to the national capital, you will be happy to know that it is only 267 km from the Kashmiri gate bus terminal. Want more? The Fortis hospital is only 1.5 km away which is a 5 minute drive from here. The Elante Mall which is arguably the most popular hangout spot for everyone in the Tricity region is just a 20 minute drive from CP 67.
Fast Construction And Faster Possession
The CP 67 project is already under construction and the promised date of delivery / possession is in the year 2022 in the month of March. The possession date according to RERA is 11th April 2026. This fast pace of construction has enabled the CP 67 developers to offer the perfect integration of retail, commercial and hospitality real estate, all at once. This is a real fine shopping and dining and entertainment hot spot in the making which is characterized by commercial spaces that have been perfectly designed for maximum visibility and to suit international standards along with multiple public transportation facilities.
The Trust Factor Of CP 67 Developers, Unity Group
The Unity Group has been creating real estate projects for more than two decades now. Since 1996 they have been working on the principles of complete transparency and unmoved commitment. Their vision has been nothing short of exemplary for other budding real estate developers to emulate. Their name is synonymous with more than 10 million square feet of commercial, retail, hospitality and several other spaces till date. The national capital region of Delhi is a thriving proof of more than 100 successful real estate development projects done by this zero litigation company that span across Dwarka, Pitampura, Janakpuri and Rohini to name a few.
Architecture And Structure
Apart from a strategic location and plentiful facilities and amenities, the Homeland CP 67 project also boasts of a High Street retail opportunity that is in the works at the moment and will be easily comparable to that of the very popular sector 17 plaza. This will be a column less banquet capable of holding large parties and gatherings. Leading architects, service organisations, finance and IT companies, consultancies and telecom companies, marketing and advertising agencies and several other corporate undertakings will be given preference when it comes to establishing offices in this project. This incredible project is being overlooked and supervised by Bentel Associates. The Homeland CP 67 is proud to have associated with this leading architects and interior designers company and is proud that the structural design of this project is the brainchild of Gian P. Mathur & Associates which is the leading civil engineering design firm of India. Other than ample underground parking and superior connectivity, CP 67 is also going to enjoy uninterrupted green spaces and breathtaking cityscape architectures as well.
Upcoming And Highly Awaited Commercial Hub
Due to its location and extraordinary potential for commercial and retail activity, the number of High Street retail shops and showrooms, service apartments, office spaces, banquets and multiplexes, this project is going to become home to the most coveted brands from across the globe. The High Street retail project in particular is being compared with that of sector 17 and sector 26 Chandigarh already. Needless to mention, several NRIs have already shown a lot of interest in investing in this unique offering.
The Brand Power Of CP 67
Here we are talking about the powerful and industry leading brands that have already associated with the Homeland CP67 project. Reliance Digital, Vodafone, Idea, Kotak, ICICI Bank, Airtel, Samsung, Sony, Nokia, Birla Sun Life, IFFCO Tokio, HDFC Bank, PVR Cinemas, Nissan, Hyundai, Ford, Nexa, Toyota, Big Bazaar and Mahindra finance along with Bank of Baroda are just a few of the biggest industry names that are proud to be associated with CP 67.
The Homeland CP 67 project is very strategically located in a region that is accessible from every corner of the Tricity. It has a huge catchment area which is going to be the residence of 20 lakh high spending residents of Chandigarh and the neighbouring cities such as Mohali, Kharar, Zirakpur and probably many metro cities as well. Where are you going to be then?
Protecting Yourself From Builder And Real Estate Frauds
Project delays and financial irregularities are a part of the real estate industry in India. Everyone has gotten used to it all. We know that some amount of delay or a bit of lag in punctuality or postponement of possession or lack of funds on the part of the builder or real estate company is common and we have learnt how to deal with that over the years.
But what we will never get used to is that some builders or real estate companies understand it to be their right to run away with the hard earned money of investors. Yes, there are instances where the home buyer is duped by fraud builders. Some homeowners even receive eviction notices while a lot of them complain of their properties or flats being sold off to other people.
Let Us Have A Look At Such A Case That Happened In The City Of Noida
Would you believe that more than 200 families who were residing in a very prominent and popular housing society in Noida had received eviction notices from the bank? They were asked to leave the premises, which was a very shocking news for the residents who had been staying in that society for several years. According to the news, the real estate developer had obtained a loan from the bank for construction purposes by pledging the said property as mortgage. When the real estate developer failed to pay the requisite amount, the bank had to take certain steps and the first was asking that homeowners to evict the premises so that it could take possession of the property and recover its damages.
Other than this, several other cases have popped up in the past as well where the builder was accused of selling already mortgaged property to home buyers. In such a case it is the responsibility of the investor or the home buyer to ascertain the legal status of the property or any outstanding dues relating to it before they hand over their hard earned money to the seller.
Is There A Way To Ensure That Your Builder Has Not Already Mortgaged The Property You Are Going To Buy?
- As a home buyer it is your right and responsibility to know that your builder cannot mortgage any of the units that have already been sold to the dwellers. His right is limited to the unsold units.
- To find the records regarding the legal status of the property a homebuyer can approach the registrar office and find out if the builder has already mortgaged the property.
- You should also know that it is mandatory for the developer to share mortgage details with the Central Registry of Securitisation Asset Reconstruction and Security Interest of India. This puts the homebuyer in a position to access the database and check for himself whether the property has any mortgage or outstanding payments on it or not.
- As a home buyer you can also demand a No Objection Certificate from the builder of the property. You will need a 10 rupees stamp paper for this purpose and make sure that it is notarized on time.
- Also it is in your best interest to know that as per the regulations issued by the (RERA) Real Estate Regulation (and development) Act, 2016 every builder is required to disclose the relevant details of mortgage of the property to the concerned parties before putting it up for sale.
How Can You Protect Yourself From Fraud Builders?
- You can opt for a buyer-builder agreement to protect yourself from any errant acts of builders. This agreement is typically drawn to protect the interest of the real estate developer but it can be rewritten without any delay to serve the interest of the home buyer as well.
- Other than this, you can file a police complaint as well and approach the consumer court in case you suspect that the builder would leave the project midway due to lack of finance.
- It is in your best interest to understand the developer’s financial health and the legal status of the project if the whole thing is being funded by a bank.
- You should also understand that the Indian law now recognises home buyers as financial creditors. This implies that in case of insolvency of the real estate company, home buyers would have an equal right similar to the bank and other institutional lenders. The Supreme Court of India has ruled that the clauses of the agreement will not be binding on the buyer if it is proved that they had no other option but to sign it.
When Buying Property From A Builder or Real Estate Company, Refrain From Making The Following Common Mistakes
Falling For The Claim That Last Few Units Are Available
The sales team of the property builder or real estate developer is going to show you a list of flats in the project. You will notice that 90% or more of the flats in the list have been crossed or marked as sold. This means you only have a few choices left. The objective behind this trick is to lure you into making a quick decision and investing in the property thinking that you may not get a better deal in the coming days. Avoid falling for this trick at all costs.
Believing That The Prices Will Increase In A Few Days
This trick is very effective when you want to create a sense of urgency among the customers. The home buyers are going to think that if they do not buy the property right now they will suffer huge monetary losses and therefore, the psychological pressure builds up on them and they end up buying the property in haste.
Buying The Premium Flats
If you are buying property or flat from a builder or real estate company, it is very important that you choose something that is being offered during the initial stages of development. This means you are going to be investing in flats that are not so close to completion which means you will be getting the same property, location, facilities, infrastructure and other features at a much lesser price. On the other hand, if you hope to buy the same property close to its completion, you will have to pay a premium amount for the same features.
Fake Or Dummy Customers
You must be wondering whether this is a real trick or not. As a matter of fact, this is a very effective technique which is being used by a lot of realtors especially for high value purchases. Real estate developers employ this technique when they feel that the chances of a transaction happening are rather bleak. Some fake or dummy customers are employed in the offices of these real estate developers and builders to show to potential buyers that the property that they are interested in is selling like hotcakes and it is in their best interest to speed up the transaction and invest in it as soon as possible.
Owing to tremendous development and the rising number of real estate projects in several areas of the country, the slump that we were witnessing in the property market up until now has started to recede. As a result, people are coming out of hibernation and are willing to invest money in real estate projects. But this has given rise to a lot of false claims and marketing gimmicks that might border on fraud and misrepresentation to attract more customers. As an investor it is your responsibility to choose wisely and invest your money with complete diligence.
10 Things You Must Check Before Buying Property In Mohali
Known for Chandigarh International Airport, Mohali, with its unmatched blend of modernity and history, hypnotizes everyone, whoever sets his foot in this beautiful part of Tricity. With a rapid growth as an IT hub of the state and having many international sporting venues, Mohali promises a uniquely refreshing experience to all.
In simple terms, Mohali is one of the fastest developing Tier-II cities in India. The primary reasons behind this rapid growth comprise of proximity to the City Beautiful- Chandigarh, distinctive options, and high living quotient of commercial investments. Well, the state government and GMADA (Greater Mohali Area Development Authority) are further putting efforts for the expansion of the city.
So, if you are thinking to invest in a property in Mohali, consider the following 10 things to take the right decision-
If you are looking for a property in Mohali for the first time, then you need to work more on your thinking process. Property can be anything- home, office space, flat, plot, and more. As there are numerous commercial property options available for sale as well as on lease in Mohali, Chandigarh, you will never be short of options.
In this case, don’t step ahead without a detailed background study of the developer you have shortlisted. Check his reviews, ongoing projects, and ratings online. Create a formal comparison of property that your shortlisted developers are providing you. Make a decision that suits best to you in Mohali.
Be wise before finding an address for your office space in Mohali. Prefer to have it in a prime location. Keep in mind the following factors for the convenience of your employees-
- Legal approvals
- Connectivity with key areas
- Convenient modes of travel
- Development prospects in the future
- Food courts with leisure
Do you know that the best-planned commercial and residential properties always provide well-established infrastructure in the vicinity? While you look for your convenience in the property, keep in mind the comfort zone of your employees and families, as well. Besides, make sure the property or business space, whether buying or taking on a lease, is surrounded by cafes, modes of communication, shopping malls, ATMs, and more.
Ample Parking Space
Parking space is one of the significant concerns in big cities. One should check for on-site parking space to avoid any hassles while buying office space in Mohali. Meanwhile, go through the parking arrangements if available in the surroundings.
Your decision to buy a property in the Tricity’s Mohali is right due to the budget-friendly options you can avail of in the city. Although the city shares its border with Chandigarh, the property prices are comparatively reasonable. Such factors make Mohali as one of the preferred options for real estate investments.
Probable Resale Value
Buying a property also targets investment as an agenda. You want good value for your spending by purchasing property in Mohali. Thus, your search will end at a location where there is a high probability of a boost in real estate value in the upcoming years. So, you should assess the probable resale value in the future before executing your buying decision. Take expert advice to determine the correct value.
Important Title Deed
It is one of the essential documents to consider when it comes to outlining the chain of ownership of the respective property. This document gives full right to the owner to claim the absolute ownership over the property. Being a buyer, check if it belongs to the respective seller. Go through the deed vigilantly, and if you have no idea about it, seek the help of a property agent.
Before proceeding with the final decision to buy a property in Mohali, have a thorough check to know if there is any financial liability pending on the property. Make sure all associated debts with the property are cleared before you sign the final agreement.
Look for Opportunities!
There are many upcoming real estate projects in Mohali that one can plan to register his or her property in advance. It is beneficial to locate your property in an address that has high prominence. But, your in-depth research can help you grab the opportunities thriving from new properties in Mohali.
It is significant to have accurate information about the land on which your property is built. If you are buying an independent house, look for the soil quality and land’s topography. For flats, look for the material used to construct it. However, know about the neighborhood in both cases.
Therefore, once you decide to buy a property in Mohali, make sure to have all the facts in place. Keep the things discussed above in mind and do not fixate on any one option until you are not completely convinced with all the factors. Purchase the property that fruitfully decides the future of your professional journey. Happy hunting!