Saturday, April 5, 2008
What if someone makes a claim on your property?
The Indian real estate market is expanding as never before and with real estate developers offering unique and competitive features, the buyer in most cases ends up in a win-win situation. However this isn’t the case with all as one of our reader’s had invested in a property on which another party is laying its claim as a grant land. The construction on that land has been stopped as the case has been taken up by the High Court. Now the question that arises is will the builder pay any compensation for the delay? And what steps should he take to save his property? Post your opinions and suggestions to help our
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Real Benefits of Internet Home Selling and Renting Ads
Internet provides a far richer experience for home buyers. They receive virtually unlimited property information, many photos, and maybe even a virtual tour รข€” which is like an open house right from their desktop. Internet provides a blank canvas on which to market the property for the life of the listing at a very affordable price. Internet listings are viewed globally. It is all about exposure, depth of information, and value.
General Info - Real Estate & Constructions In Faridabad
1) Can there be a Sale/ Purchase of real estate through power of attorney?
Yes, real estate can be purchased and sold on behalf of the owner through general, specific Power of Attorney, but there are certain exception:
2) What is Power of Attorney?
The power one person or legal entity grants to another to act on behalf of the person granting authority. The document granting such power normally specifies exactly how much power the attorney-in-fact (recipient of the power of attorney) will have.
3) Can corporate firm/houses open their offices in residential areas ?
No, the practice of opening offices in residential areas is illegal. But in the usual course of business service based industries are allowed to open their offices in such residential properties. But any complaint by the owners will perforce them to vacate it.
4). If the lease does not contain any clause for escalation of rent then can the lease amount on renewal be escalated ?
It is always advisable to include the rent escalation in the lease deed which is more than 1 year, to avoid any dispute in future. However there is a provision in the rent control act that rent will increase 10% after every 3 years.
Yes, real estate can be purchased and sold on behalf of the owner through general, specific Power of Attorney, but there are certain exception:
- Where buildings, Housings and commercial property are constructed and sold by government organization.
2) What is Power of Attorney?
The power one person or legal entity grants to another to act on behalf of the person granting authority. The document granting such power normally specifies exactly how much power the attorney-in-fact (recipient of the power of attorney) will have.
3) Can corporate firm/houses open their offices in residential areas ?
No, the practice of opening offices in residential areas is illegal. But in the usual course of business service based industries are allowed to open their offices in such residential properties. But any complaint by the owners will perforce them to vacate it.
4). If the lease does not contain any clause for escalation of rent then can the lease amount on renewal be escalated ?
It is always advisable to include the rent escalation in the lease deed which is more than 1 year, to avoid any dispute in future. However there is a provision in the rent control act that rent will increase 10% after every 3 years.
The Surrounding areas of NCR, Faridabad
With real estate developing at a rapid pace in the surrounding areas of NCR, Faridabad is too experiencing a considerable growth in this sector. The rise in demand for residential sector has increased and the following chart will give you a fair idea of the current property rates and trends for the month of February. From the following detailed chart you can find out the approximate average unit values and rental values for plots and flats for various localities in Faridabad. This comprehensive Faridabad property rates chart will give you a clear picture of the prevalent property rates for its various localities and will simplify your search for your dream property.
Wednesday, December 5, 2007
Real Estate Investing 101: Purchasing Rentable Properties
"Purchasing real estate with the intent of turning it into an apartment or a house for rent can be an excellent financial decision. When you buy a property with the intent of renting it, however, there are several factors you should take into consideration in order to guarantee the best chance of successfully finding a tenant and making money from your investment.
Assessing Your Goals Before Buying
Before you buy real estate with the intent of renting it out, you need to determine what your goals will be. For example, do you want to create a steady source of income for many years to come or are you looking to sell the real estate for a profit later? If you are looking for a property that you can sell for a profit later, you will want to purchase something that is inexpensive that you can fix up and sell later.
Determining If Your Real Estate Will Be Your Home As Well
When you get into the rental business, you will also need to decide whether or not you will live in the apartment building or housing unit that you purchase. If you do decide to live on that piece of real estate, you will probably be able to get your entire mortgage paid off by your tenants. As such, you will basically be living in your home for free. At the same time, you might prefer to distance yourself from your tenants. In this case, living in the same apartment building or housing unit may not be so desirable.
Choosing the Type of Real Estate You Will Buy
When deciding on the type of real estate you are going to buy, you will need to take some factors into consideration. For example, single-family houses are usually less expensive than apartment complexes since they are so much smaller. At the same time, a house will bring in less income than an apartment complex. Keep in mind that an apartment complex will often require more upkeep than a house as well. Take all of these factors into consideration when deciding on the type of real estate you plan to invest in.
Picking the Right Location for Your Investment
Obviously, when you buy real estate with the intention of renting it out, you want to find property that is desirable. Otherwise, you will have a difficult time finding someone willing to rent it out from you. Therefore, you should select real estate that is in an area where people want to live.
In order to determine if the property is in a good area, consider the available shopping and activities that are near to the property. You should also consider the schools and the crime rate as well as the general attractiveness of the neighborhood.
Unless you are looking for a fixer-upper and you have the time to fix up the home or apartment, you should look for a place that is in good shape. By purchasing a well maintained piece of property in a good location and within your budget, you will be certain to start a solid career as a landlord."
Assessing Your Goals Before Buying
Before you buy real estate with the intent of renting it out, you need to determine what your goals will be. For example, do you want to create a steady source of income for many years to come or are you looking to sell the real estate for a profit later? If you are looking for a property that you can sell for a profit later, you will want to purchase something that is inexpensive that you can fix up and sell later.
Determining If Your Real Estate Will Be Your Home As Well
When you get into the rental business, you will also need to decide whether or not you will live in the apartment building or housing unit that you purchase. If you do decide to live on that piece of real estate, you will probably be able to get your entire mortgage paid off by your tenants. As such, you will basically be living in your home for free. At the same time, you might prefer to distance yourself from your tenants. In this case, living in the same apartment building or housing unit may not be so desirable.
Choosing the Type of Real Estate You Will Buy
When deciding on the type of real estate you are going to buy, you will need to take some factors into consideration. For example, single-family houses are usually less expensive than apartment complexes since they are so much smaller. At the same time, a house will bring in less income than an apartment complex. Keep in mind that an apartment complex will often require more upkeep than a house as well. Take all of these factors into consideration when deciding on the type of real estate you plan to invest in.
Picking the Right Location for Your Investment
Obviously, when you buy real estate with the intention of renting it out, you want to find property that is desirable. Otherwise, you will have a difficult time finding someone willing to rent it out from you. Therefore, you should select real estate that is in an area where people want to live.
In order to determine if the property is in a good area, consider the available shopping and activities that are near to the property. You should also consider the schools and the crime rate as well as the general attractiveness of the neighborhood.
Unless you are looking for a fixer-upper and you have the time to fix up the home or apartment, you should look for a place that is in good shape. By purchasing a well maintained piece of property in a good location and within your budget, you will be certain to start a solid career as a landlord."
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