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		<title>41 Basic Real Estate Terms To Boost Your Vocabulary</title>
		<link>https://utkalproperty.com/basic-real-estate-terms/</link>
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		<dc:creator><![CDATA[Truptikanta Swain]]></dc:creator>
		<pubDate>Thu, 08 Oct 2020 18:44:23 +0000</pubDate>
				<category><![CDATA[Real Estate Marketing]]></category>
		<guid isPermaLink="false">https://utkalproperty.com/?p=29450</guid>

					<description><![CDATA[The world of real estate can be exciting, but especially for those who are new to the process of buying, selling, or investing in real estate Basic Real Estate Terms are Necessary. Whether you are a first-time home buyer, an experienced investor, or someone interested in real estate, it is important to understand Basic Real Estate Terms to help you make an informed decision. ...]]></description>
										<content:encoded><![CDATA[<p>The world of real estate can be exciting, but especially for those who are new to the process of buying, selling, or investing in real estate Basic Real Estate Terms are Necessary. Whether you are a first-time home buyer, an experienced investor, or someone interested in real estate, it is important to understand Basic Real Estate Terms to help you make an informed decision.</p>
<p>From financial terms like mortgages and escrow to property classifications like residential and commercial, real estate is full of jargon that can seem confusing at first. This guide will introduce you to the most<strong> Basic Real Estate Terms</strong> and help you build a solid foundation of knowledge as you explore the real estate market. Whether you are dealing with contracts, financing, or different types of ownership, learning these rules will give you more confidence and clarity on your real estate journey.</p>
<h3>41 Basic Real Estate Terms To Boost Your Vocabulary</h3>
<p>Here are some Basic Real Estate Terms that every buyer, seller, or investor should know:</p>
<ol>
<li><strong>Carpet Area- </strong>Carpet area is the total area enclosed within the walls. Basically, the area that is going to be used to lay the carpet. This area does not include the thickness of the inner walls. It refers to the area that is going to be used in making the building.</li>
<li><strong> Net sheet </strong>– Sellers want to know what is going to be their check amount to be after all the fees and closing costs are done-what is the amount you are taking home to the bank. The net sheet does just that by outlining each item and estimating those costs for you and how they affect your bottom line; and a net sheet should be one of the first things you review when discussing selling price.</li>
<li><strong>Acre-</strong>A unit of area equivalent to 43,560 square feet or 4,047 square meters approximately. It is a commonly used term for larger land parcels in India.</li>
<li><strong>Appreciation</strong>-An increase in the value of a property due to changes in market conditions or supply and demand, etc.</li>
<li><strong>Addendum-</strong> An addendum to a real estate contract or purchase agreement is a document attached to and made a part of the original at the time it is prepared. It can explanatory, informational, or indicate other requirements that aren’t clearly spelled out in the contract. That why you should know Basic Real Estate Terms</li>
<li><strong>Amortization- </strong>a method of equalizing the monthly mortgage payment over the life of the loan by adjusting the proportion of the principle to interest over time.</li>
<li><strong>Appraisal-</strong> A written report of the estimated value of a property prepared by a certified Real Estate appraiser or a valuer.</li>
<li><strong>Deed- </strong>A legal document conveying title to a property.</li>
<li><strong>Default- </strong>Failure to make payments on time or comply with other requirements of the agreement.</li>
<li><strong>Depreciation- </strong>A decline in the value of property brought about by age, physical deterioration, functional or economic obsolescence, etc.</li>
<li><strong>Disbursement- </strong>disbursements are costs and expenses paid by a lawyer on behalf of a client to close a Real Estate deal.</li>
<li><strong>Down payment- </strong>The part of the purchase price of a property that the buyer pays in cash and does not finance with a loan.</li>
<li><strong>Due-on-sale clause- </strong>An entrepreneur or a company that initiates and looks through the development of a property. The main activities carried out by a developer include land acquisition, procurement of relevant approvals, fund raising, design, construction, and marketing of the project.</li>
<li><strong>Floor Plan-</strong> a scale diagram of a room or suite of rooms viewed from above and used especially for planning effective use and arrangement of furnishings.</li>
<li><strong>Gated Community- A</strong> gated community is a set-up that offers a cohesive social life coupled with quality residential experience.</li>
<li><strong>Gross Building Area- </strong>The total floor area in an office building is measured in square feet. The area extends to the outer surface of exterior walls and windows, and includes all interior areas but excludes parking and roof space.</li>
<li><strong>The guarantor-The</strong> guarantor guarantees a loan by pledging his or her assets as collateral.</li>
<li><strong>High Rise-</strong>A high-rise or high-rise apartment building is any building 5-stories or more.</li>
<li><strong>Home Improvement Loan-</strong> A loan used to remodel or repair a private residence. Home improvement loans are usually short-term. They may or may not be secured by the homes whose work they finance, but those that are secured generally carry lower interest rates.</li>
<li><strong>Institutional Investor</strong>-An institutional investor is a company or organization that invests money to buy securities or assets such as real estate.</li>
<li><strong>Inventory</strong>-An inventory in the real estate parlance means the unsold housing units in a given stock.</li>
<li><strong>Joint Ownership-</strong>Co-owners means all the owners of a property. If the property is owned by more than one person, it is called joint ownership.</li>
<li><strong>Land Tax-</strong>Property tax is the annual amount paid by a landowner to the local government or the municipal corporation of his area. Property tax comprises taxes like lighting tax, water tax, and drainage tax.</li>
<li><strong>Load Bearing-</strong>Any exterior wall, and any interior wall that supports its weight and the weight of other parts of the building above it.</li>
<li><strong>Market Value-</strong>Market value is an opinion of what a property would sell for in a competitive market based on the features and benefits of that property (the value), the overall real estate market, supply and demand, and what other similar properties have sold for in the same condition.</li>
<li><strong>Mutation-</strong>Mutation is the change of title ownership from one person to another when the property is sold or transferred. By mutating a property, the new owner gets the property recorded on his name in the land revenue department and the government can charge property tax from the rightful owner.</li>
<li><strong>No objection certificate-</strong>NOC is a popular acronym for a No Objection Certificate. It is a statement of permission given to a person or a company to go ahead with the construction or purchase of a property. NOC is must have a document without which the concerned property is bound by legal hardships.</li>
<li><strong>Open space-</strong>Open space is any open piece of land that is undeveloped (has no buildings or other built structures) and is accessible to the public.</li>
<li><strong>Possession linked plan-</strong>The Possession-linked Payment Plan (PLP) is directly linked to the possession of the property and is one of the most beneficial payment plans offered by developers to homebuyers.</li>
<li><strong>Pre EMI-</strong>Pre-EMI is the applicable interest payment to the amount that is disbursed over the entire tenure of a home loan. It begins when the house is under construction.</li>
<li><strong>Undervaluation- </strong>  a property is valued at lower than the estimated market rates, it means the property is undervalued.</li>
<li><strong>Under construction Property- </strong>Home buyers have options of investing in an under-construction property or a ready to move in flat. Under construction refers to a building, structure, or project that is not complete and is actively being worked on and ready to move is one which is built and ready for possession.</li>
<li><strong>Urban land ceiling and regulation act- </strong>An Act to provide for the imposition of a ceiling on vacant land in urban agglomerations, for the acquisition of such land over the ceiling limit, to regulate the construction of buildings on such land and for matters connected therewith, to prevent the concentration of urban land in the hands of a few persons and speculation and profiteering therein and to bring about an equitable distribution of land in urban agglomerations to subserve the common good.</li>
<li><strong>Utilities- </strong>Functional utility is a prescribed element included in a professional real estate appraisal. Appraisals analyze the features of the home and determine its functional utility, or its ability to adequately provide for its intended purpose. A home should generally provide adequate living conditions.</li>
<li><strong>Vastu Shastra- </strong>Vastu is a Sanskrit word which means Vaas: Live Tu: you, a place where you live or dwell. Shastra means a text which contains knowledge or instructions. Simply put Vastu Shastra means instructions laid down for building a structure.</li>
<li><strong>Built-up Area-</strong>Includes the carpet area, the wall thickness, balcony area until the inside walls.</li>
</ol>
<ol start="37">
<li><strong>Super built-up Area-</strong>Super built-up area is the built-up area plus proportionate area of common areas such  as the lobby, lifts shaft, stairs, etc. The built-up area along with a share of all common areas proportionately divided amongst all unit owners makes up the super built-up area.</li>
<li><strong>Contingencies-</strong>A contingency is a condition of the sale that allows a party of the sale to walk away if not met. Typical contingencies include loan contingency (obtaining a satisfactory loan for the home), appraisal contingency (home is worth what I am paying), inspection contingency (home inspection satisfies buyer), and a host of others.</li>
<li><strong>Escrow-</strong> escrow is the third party who holds onto all monies and facilitates the terms of the contract. When someone says they have ‘a 30-day escrow’, that means escrow is holding onto the funds until both parties have completed their obligations as outlined in the contract, and only one those obligations have been completed will the home officially change hands and escrow closes.</li>
<li><strong>Earnest Money Deposit –</strong>This is the initial deposit you give to the escrow company to show you are a serious buyer. This amount can be anything agreeable to both parties, but a larger deposit is still considered to signify a serious buyer. Earnest money deposits are given back to the buyer if they walk away from the sale within their contingency timeframe.</li>
<li><strong>Pre-Approved –</strong> pre-approval is obtained when you allow a lender to issue you a letter stating based on the information you have given to them that their bank will conditionally pre-approve you for a certain loan amount. This is not to be confused with a pre-qualification which is much more in-depth (and therefore considered stronger) as the lender typically runs your credit and requests documentation to prove assets, income, debts, etc.</li>
</ol>
<p>Understanding these Basic Real Estate Terms  &amp; <a href="https://utkalproperty.com/16-real-estate-legal-documents-property-fraud/">Real estate Legal Terms</a> will help you navigate the complexities of buying, selling, or investing in property with greater ease and confidence as a <a href="https://vendibazar.com/real-estate-agents-in-bhubaneswar/" target="_blank" rel="noopener">Real estate agent</a> or Investor.</p>
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		<title>Real Estate Market In India</title>
		<link>https://utkalproperty.com/real-estate-market-in-india/</link>
					<comments>https://utkalproperty.com/real-estate-market-in-india/#respond</comments>
		
		<dc:creator><![CDATA[Truptikanta Swain]]></dc:creator>
		<pubDate>Thu, 08 Oct 2020 17:59:21 +0000</pubDate>
				<category><![CDATA[Real Estate Marketing]]></category>
		<guid isPermaLink="false">https://utkalproperty.com/?p=29442</guid>

					<description><![CDATA[The real estate market in India has been deemed to be a very good ground for investors for years now. Not only real estate investors in India love this sweet spot but also NRIs from around the world and other business persons always keep looking for some chance to own a good piece of property in India and this has been possible because of ...]]></description>
										<content:encoded><![CDATA[<p>The real estate market in India has been deemed to be a very good ground for investors for years now. Not only real estate investors in India love this sweet spot but also NRIs from around the world and other business persons always keep looking for some chance to own a good piece of property in India and this has been possible because of the investment-friendly policies of the government. The second-largest employment generation sector after agriculture, real estate contributes about 6.3 percent to India&#8217;s gross domestic product (GDP). The foreign direct investment (FDI) in the sector is expected to touch US$ 25 billion in the next 10 years from its current US$ 4 billion.</p>
<p>The sector&#8217;s progress is driven by factors such as rapid urbanization, a growing trend towards nuclear families, positive demographics, rural-urban migration, ever-developing infrastructure, higher income levels, and housing demand. The real estate sector, with its growing investment opportunities, was expected to go past the annual revenues of US$ 180 billion by 2020 if things had remained unchanged since 2014. However, we all know things have changed quite a lot since the past few years and have impacted the entire economy and hence the real estate sector is no exclusive. </p>
<p>Let us now take a look at how the times were and how they are; to get an idea about they are going to be in the future:</p>
<p><strong><em><u>1</u></em></strong><strong><em>.MARKET DYNAMICS OF 2014</em></strong></p>
<p>The market dynamics for the real estate sector in India had seen a gradual rising by the year 2014 and this progress was not only confined to only the highly urban metro cities but also in the smaller towns and rural cities. These areas not only saw a rapid growth in housing and residential complexes but also commercial and industrial segments.</p>
<p>The real estate sector of India was projected to post annual revenues of US$ 180 billion by 2020 against US$ 66.8 billion in 2010-11, a compound annual growth rate (CAGR) of 11.6 percent. The demand was expected to grow at a CAGR of 19 percent in the period 2010-2014, with Tier I metropolitan cities expected to account for about 40 percent of this growth. Mumbai, Delhi-National Capital Region (NCR), and Bengaluru cater for 46 percent of total office space demand in India. This demand is expected to be rise sharply in Tier-II cities such as Kolkata and Chennai in the period 2010-14.</p>
<p><strong><em>1.1 Investments in the sector in 2014</em></strong></p>
<p>The Indian retail real estate sector was projected to grow at around 15 percent year-on-year over the next 3-5 years from 2014 as against the 12-13 percent nominal growth of India&#8217;s GDP estimated by the International Monetary Fund (IMF). If the sector had managed to grow at the same rate as it was growing in the 2014 phase of its life, it was estimated to touch 34 trillion rupees (US$ 544.73 billion) by 2016.</p>
<p>The construction development sector, including townships, housing, and built-up infrastructure garnered total FDI worth US$ 22,671.95 million in the period April 2000-August 2013. Construction (infrastructure) activities during the period received FDI worth US$ 2,280.95 million, according to the Department of Industrial Policy and Promotion (DIPP).</p>
<p>Some of the major investments and developments in this sector are as follows:</p>
<ol>
<li>The first REIT raised Rs 4,750 crore (US$ 679.64 million) and was launched earlier in 2019 by the global investment firm Blackstone and realty firm Embassy group.</li>
<li>In January 2019, Ascendas acquired Chennai&#8217;s Pallavaram IT Park for US$ 35.70 million.</li>
<li>Iconic RK Studios property which is located in suburban Chembur, acquired by Godrej Properties.</li>
<li>New housing launches across the top seven cities in India are expected to increase 32 percent year-on-year by 2018 end to 193,600 units.</li>
<li>In September 2018, Embassy Office Parks announced that it would raise around Rs 52 billion (US$ 775.66 million) through India’s first Real Estate Investment Trust (REIT) listing.</li>
</ol>
<p>The following are some Government initiatives that have given a boost to this sector:</p>
<ol>
<li>The Government of India along with the governments of the respective states has taken several initiatives to encourage the development in the sector. The Smart City Project, where there is a plan to build 100 smart cities, is a prime opportunity for real estate companies. Below are some of the other major Government Initiatives:</li>
<li>To revive around 1,600 stalled housing projects across the top cities in the country, the Union Cabinet has approved the setting up of Rs 25,000 crore (US$ 3.58 billion) alternative investment fund (AIF).</li>
<li>Blackstone crosses the US$ 12 billion investment milestone in India.</li>
<li>Puravankara Ltd, a realty firm plans to invest around Rs 850 crore (US$ 121.6 million) over the next four years to develop three ultra-luxury residential projects in Bengaluru, Chennai, and Mumbai.</li>
<li>Under Pradhan Mantri Awas Yojana (Urban) [PMAY (U)], 1.12 crore houses have been sanctioned in urban areas creating 1.20 crore jobs.</li>
<li>The government has created an Affordable Housing Fund (AHF) in the National Housing Bank (NHB) with an initial corpus of Rs 10,000 crore (US$ 1.43 billion) using priority sector lending shortfall of banks/financial institutions for micro-financing of the HFCs.</li>
<li>As of September 16, 2019, India had formally approved 419 SEZs, of which 234 were in operation.</li>
<li>In February 2018, the creation of the National Urban Housing Fund has approved with an outlay of Rs 60,000 crore (US$ 9.27 billion).
<li><u> </u><strong><em>MARKET DYNAMICS AFTER THE GLORIOUS 2013-2014 PHASE</em></strong></li>
</ol>
<p>The market finds itself plummeting. Demand starts to decrease as well as sales. Even in the tier-1 metro cities, Delhi and Mumbai, which usually see an ever-growing demand for properties, see a decreased demand and return.</p>
<p><strong>New Delhi</strong>: Housing sales in 2017-2018 declined by a major 40 percent compared to its previous years of 2015-2016. In 2017 there were only 2,02,800 units sold in the major seven cities from even the average sales of 2013. This is said to be because mainly due to the sharp fall in the property in the NCR sector of Delhi according to the property consultant ANAROCK.</p>
<p>While studying and researching on the real estate market of the seven major cities in the country, namely National Capital Region (NCR), Mumbai Metropolitan Region (MMR), Pune, Kolkata, Chennai, Bangalore, and Hyderabad, said: &#8220;From observing residential market trends over the past five years, it clearly emerges that 2013 and 2014 were the last years where things still looked vibrant for the sector. Housing sales began plummeting after that, and there is no clear revival in sight as yet,&#8221; ANAROCK Property Consultants Chairman AnujPuri.</p>
<p>ANAROCK said that an average of 3.3 lakh units was sold annually during 2013 and 2014. However, sales dropped significantly during the 2015-2016 period and only an average of 2.7 lakh units was sold annually, a drop of 17 percent from the average sales of 2013-14. In the 2017 calendar year, housing sales stood at 2,02,800 units. &#8220;Residential unit sales have dropped by around 40 percent from the average of 2013-2014 to 2017,&#8221; ANAROCK said.</p>
<p>The major problem that these developments faced is that during the under-construction period, the highly metropolitan cities like the NCR and the MMR faced an investment drop of about a major 68 percent. This hampered them more are these cities are majorly run by investment and investor’s activities.</p>
<p>This trend was sad, not confined to these two megacities only but the cities like Chennai and Bengaluru which also are on the radar for investors and speculators saw a plummeting market of about 17 percent and 48 percent respectively.</p>
<p>Pune which also saw a growing interest among the NRIs and investors who only invest for financial gains and profits also saw a decreasing market of about 29 percent from the mark of the average in the year 2013-2014. Hyderabad was the only city that saw an increased market of about 32 percent higher than the average of the glorious financial year of 2013-2014.</p>
<p>&#8220;A recurring element in the above findings is investor activity or, to call a spade a spade, speculator activity. While both investors and speculators buy property for profit &#8211; as opposed to end-users, who buy homes to live in &#8211; the two terms are not interchangeable,&#8221; Puri said. </p>
<p>Puri said that speculators primarily target short-term profits, and usually lack any real knowledge about real estate as an asset class and the performance of different markets. On the other hand, he said real estate investors tend to have a much better understanding of the property market and put in the right amount of analysis of different markets and the trends that drive them.&#8221;Speculation has played havoc with the Indian real estate market, and the fallout of speculative activity in previous years is still being felt today,&#8221; Puri added.</p>
<p><strong><em><u>3</u></em></strong><strong><em>. HOW WAS THE MARKET IN 2018-2019 AND HOW DID IT ACTUALLY TURN OUT.<u></u></em></strong></p>
<p>India’s real estate market remains weak and residential construction and sale keep on going down. As we saw above except the city Hyderabad which recorded an impressive rise in double digits in its real estate market. In addition to this, India’s lowering GDP and performance in the world economy has not been able to stand on the expectations of the growth added to the problem at hand.</p>
<p>In 2018, the National Housing Bank’s released a composite house price index for 50 cities, which shows, 3.9%, following y-o-y rises of 3% in 2017, 6.4% in 2016, 5.6% in 2015, and 1.1% in 2014. However, when adjusted for inflation, house prices actually fell 1.2% in 2018 from a year earlier.</p>
<p>Even residential construction and sales are falling. In the second quarter of 2019, only 37,852 housing units were launched in India’s 9 major markets (including Ahmedabad, Bengaluru, Chennai, Gurugram, Hyderabad, Kolkata, Mumbai, Noida, and Pune) this launching number is a 47.4 percent lower than the year earlier, except in the Gurugram sector of Delhi, all other cities show a fall in new launches in 2019.</p>
<p>Demands also remain down and depressed. The second quarter of 2019, as we were talking about, recorded a market fall by 10.8 percent to 71,957 units as compared to the same period from the year earlier, according to PropTiger.</p>
<p>“Home sales may see some improvement in the times to come with the Reserve Bank of India lowering repo rate to record low&#8221;. Banks have also been lowering interest rates to pass on the benefits of policy transmission among homebuyers.” said PropTiger.</p>
<p>“A foreign national resident in India does not require the approval of RBI to purchase immovable property in India. This is because once he is a resident in India, he gets rights like any other resident. This freedom is however not available to citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, or Bhutan. However, a foreign national of non-Indian origin resident outside India cannot buy any immovable property in India. It is illegal for foreign nationals to own property in India unless they satisfy the residency requirement of 183 days in a financial year (a tourist visa lasts for 180 days). It is also illegal to buy property on a tourist visa.</p>
<p>Moreover, the property cannot be purchased jointly in the name of one eligible person with one non-eligible person. That means a non-resident Indian (NRI) or foreign national of Indian origin (PIO) cannot buy a property jointly with a foreigner.” (Information is taken from the globalpropertyguide.com (GBG) webpage)</p>
<p><strong><em><u>4</u></em></strong><em><b>. REAL ESTATE MARKET POST-CORONAVIRUS CRISIS</b></em></p>
<p>While the adverse impact of the Covid-19 virus has already been felt in the world in the entire world, different sectors have been impacted in varying degrees and different ways but everyone, every country, and every sector are certainly being under its impact for sure.</p>
<p>Owing to the global health emergency the whole world is under lockdown and the businesses have also come to a forced halt. The researching agencies have already predicted an all-time low in the global growth and development of economies. In India, the growth was already expected to slow down to an 11 year low, in March 2020. But the situation is expected to get even worse if the virus is not contained soon.</p>
<p>Although different researchers and knowledgeable people have come up with varying quantifications for how the virus is going to impact the real estate market in India, we should be careful before acting and check the credibility of the source and act accordingly but also carefully and knowing what suits us and what is right for us. Your right could differ from my right, so keeping all that in mind; let us look at what is expected out of this situation. </p>
<p><strong>Mumbai</strong>: Deepak Parekh the chairperson of the Housing Development Finance Corporation (HDFC) said that said the real estate prices in the country would correct by up to 20 percent in the wake of the coronavirus pandemic and the resultant nationwide lockdown.</p>
<p>“Prices of real estate have to come down, and will come down,” Parekh said in an address to real estate developers at a webinar organized by the National Real Estate Development Council (Naredco). “I believe Naredco’s estimate is around 10-15 percent. One must be prepared for even 20 percent,” he added. </p>
<p>For potential home buyers, who have job security or cash flows, it will be an excellent buying opportunity, he said. &#8220;Real estate is an immensely important asset class, and the value of global real estate was more than the value of all the stocks and bonds combined,&#8221; he said.</p>
<p>Parekh reminded that the Indian real estate market was continuously seeing a plummet and was going through a prolonged pain of various kinds for various reasons such as economic stress in certain segments, high leverage, and tight liquidity, and rising non-performing assets (NPAs) in construction finance.</p>
<p>&#8220;The irony is that while the government announced incentives for affordable housing by various means, they coincided with the world’s deepest crisis,&#8221; Parekh said.</p>
<p>Although the real estate market has seen its ups and downs and is currently going through a hard time, that does not means that it does not hold the ability to bounce back and is expected to bounce back within some couple of coming year. Meanwhile, it is a good time to invest in the sector and help it bounce back, and more than anything India has a very hopeful future as a competitor for other developed countries shortly. When the light will be bright again the markets and values or the real estate in India are most likely to rise exponentially. Not only will that benefit the investors and builder and all the other operators in the Indian real estate market but that will also help the entire Indian market as a whole. So, it is the best time to put your coins in, as the iron is hot and this is when it should be hammered.</p>
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		<title>Online Property Portal: From Discovery To Beyond</title>
		<link>https://utkalproperty.com/online-property-portal-from-discovery-to-beyond/</link>
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		<dc:creator><![CDATA[Truptikanta Swain]]></dc:creator>
		<pubDate>Thu, 08 Oct 2020 17:48:24 +0000</pubDate>
				<category><![CDATA[Real Estate Marketing]]></category>
		<guid isPermaLink="false">https://utkalproperty.com/?p=29439</guid>

					<description><![CDATA[Talking about the generation, almost everyone is online. So real estate is no different because taking the current and the future demography into account, you can assume anyone online has a sizable disposable income. Today, 65 percent of the real estate buyers come online at some point in the process, so we can see a change happening already and if you want to know ...]]></description>
										<content:encoded><![CDATA[<p><span data-preserver-spaces="true">Talking about the generation, almost everyone is online. So real estate is no different because taking the current and the future demography into account, you can assume anyone online has a sizable disposable income. Today, 65 percent of the real estate buyers come online at some point in the process, so we can see a change happening already and if you want to know how you can come along, you have come to the right place.</span></p>
<p><span data-preserver-spaces="true">Let us look at how the World Wide Web is changing the age-old favorite, </span></p>
<p><span data-preserver-spaces="true">Real Estate:-</span></p>
<ol>
<li><strong><span data-preserver-spaces="true">DEMOGRAPHY- </span></strong><span data-preserver-spaces="true">Talking simply of the current trend, 65 percent of the home buyers, comes online at some point in the process and this percentage is expected to shoot up as the younger population comes to earn and the older population learns to use the internet more efficiently. This population does not consist of people that you can get away with hoarding some money, they are well informed and know exactly what they are looking for. They are young with a good amount of disposable income and are quite tech-savvy. The penetration of the internet with the mobiles has seen a boom in the number of eyeballs these portals could reach. Research done by Google in 2014 revealed that more than half of the home buyers came from online searches and this was not specifically a trend limiting to the metros but in the suburbs and other areas too.
<p><span data-preserver-spaces="true">Apart from looking for properties for sale, a lot of other research is done online. What something is a piece of land worth and what a ready to move in property worth is. What determines the price of a property and what would be paying too much for something. Believe me, they are well researched.</span></p>
<li><strong><span data-preserver-spaces="true">TIME-</span></strong><span data-preserver-spaces="true"> The attention span of people, in general, is decreasing dramatically and when you are online it becomes even shorter. In such a situation UI or User Experience really comes into play because when the market is new and there are already a good set of players, the player with the right experience wins the battle.</span></li>
</ol>
<p><strong><span data-preserver-spaces="true">Some key factors the website developers should keep in mind would be:</span></strong><span data-preserver-spaces="true"> How easy it is to navigate when visiting the website for the first time, how fast do things load, how accurate are the locations and image quality along with mobile-friendliness are some of the major determinants that would define the likability of the website.</span></p>
<p><span data-preserver-spaces="true"> </span></p>
<p><span data-preserver-spaces="true">Along with that, another thing to consider would be how people who needed to sell a property and people who wanted buy had to contact brokers and then list down all the properties available for sale and then stop whatever they are doing for a day or two and then go get a look at all the properties listed and then decide. Today people do not have that much time and if they happen to have that time they prefer to spend it with their family and near and dear ones and not moving around, getting stuck in the traffic just to look at some properties that they aren’t even sure about buying. So these Real Estate portals make the work easier as many of these websites offer a 360-degree view and high-resolution picture of the listed properties which saves a lot of time. Furthermore, the UI of the websites and the filters inside the websites like; “sky view”, “pool”, “bar” clubbed with a price-determining tab with map-based searching and targeted audience catering. Makes it easier for sellers to cater to targeted audiences and actually turn them form lead to a customer and for the buyers is so pleasant to chill with their loved ones in the safe family space and look for their desired properties within their budget.</span></p>
<li><strong><span data-preserver-spaces="true">ACCESSIBILITY:  </span></strong><span data-preserver-spaces="true">Just like apparel, food, and even dating, these portals have brought property owners and buyers together to connect at fingertips. The capacity of reaching people is beyond measurable terms, just about anybody who happens to have an internet connection will have access to the properties on these websites. Their reach and scope are huge and varied. These sites not only make people more aware of the real estate market and bringing sellers and buyers together, but they are also creating a </span><strong><span data-preserver-spaces="true">stimulus</span></strong><span data-preserver-spaces="true"> in all those who would be turning into buyers pretty soon and by that, I meant the younger generation who may be students currently or have newly entered the workforce and are looking to buy or are generally interested in real estate. </span></li>
<li><strong><span data-preserver-spaces="true">PROFITS: </span></strong><span data-preserver-spaces="true">Online property portals are attracting equity investors, venture capitalists, and other builders, and almost all kinds of people functioning in the real estate business. If we look at some examples; Dealcurry.com, Housing.com sold a 30% stake for $70 million, IndiaHomes.com raised $50 million (310 crores) from its existing investors, Commonfloor.com secured $7.5 million from existing investors, and Grabhouse.com raised $2 million. So it is clear that not only the buyers get to be more informed and have better knowledge about how much they should be paying and what actually appreciates or depreciates the value of a property etc, the companies taking in the labor and putting the hard work and doing making this tough job happen are also gain a really delicious profit.</span></li>
<li><strong><span data-preserver-spaces="true">SPECIAL SERVICES: </span></strong><span data-preserver-spaces="true">These special services at not necessarily what the site is for but if you opt to let them these websites offer extra help with leasing houses and the paperwork that this might require. Some websites also offer rent agreement help at just some clicks of the computer. You will be asked to fill out the basic details and then you will be asked to fill the clauses you would want to add such as parking, apartment security system, security deposit, and pet policy, etc. and as soon as you finish that you will be delivered a copy of that at your doorstep and Tadaa! Your rental agreement is ready! This service is available by the “Housing.com” firm and is currently available in Bangalore only. Many firms are now also helping with the approval for a home loan.</span></li>
</ol>
<p><span data-preserver-spaces="true">So there you are! These are the 5 ways in which the online property portals are changing the game in the real estate industry.</span></p>
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		<title>Under Construction  VS Ready to Move Property ,Which Is Better Option</title>
		<link>https://utkalproperty.com/29412-2/</link>
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		<dc:creator><![CDATA[Truptikanta Swain]]></dc:creator>
		<pubDate>Thu, 08 Oct 2020 09:04:51 +0000</pubDate>
				<category><![CDATA[Real Estate Marketing]]></category>
		<guid isPermaLink="false">https://utkalproperty.com/?p=29412</guid>

					<description><![CDATA[You might do it for the house you want to build or maybe the restaurant you want to make but no matter what you wish might be for putting your money into real estate, it does require a pretty penny. All our casinos use random number generators on all games of chance which makes it https://starlitenewsng.com/what-time-does-river-city-casino-open/ very difficult to cheat players. When you are ...]]></description>
										<content:encoded><![CDATA[<p>You might do it for the house you want to build or maybe the restaurant you want to make but no matter what you wish might be for putting your money into real estate, it does require a pretty penny. All our casinos use random number generators on all games of chance which makes it https://starlitenewsng.com/what-time-does-river-city-casino-open/ very difficult to cheat players. When you are entering a market having to put a lot you become more cautious which is a necessity but comes the diversity of the kinds of properties available and this very factor can be paralyzing.</p>
<p>There is an array of options to choose from and when it is such a big of an investment, the decision of which one suits you and which one suits me might differ according to our requirement, age, pay scale, and purpose. First, you initiate a withdrawal https://www.fontdload.com/hollywood-casino-bay-st-louis-players-club/ request. So let us discuss the two very popular varieties of properties available.</p>
<p>For starters, ready to move in property makes more sense when the buyer is looking for accommodation and under construction, the property makes more sense when the buyer is looking at it from an investment point of view, and despite what the buyer might be looking for, the property should somehow yield the buyer some margin of profit in the long run because they are investing a big amount on the property.</p>
<p><strong>WHO SHOULD PICK A READY TO MOVE IN PROPERTY? </strong></p>
<p><strong>WHO DOES IT SUIT?</strong></p>
<p>When people move from city to city pursuing different occupations, dreams, and aspirations it can be hard to move into a house that is not is living conditions. This not only holds the capacity to put a dent in your pocket but also holds the capacity to get you kicked off if the property you are living in does not have occupancy and a completion certificate. When you are new to a city and you do not know whether you are going live here for the rest of your investing (if you are in the position to do so) can be pretty risky because you are in a hurry and want a quick fix.</p>
<p>In such a situation a ready to move in property is ideal for you! You can look around the house and see how the finishing is, how the backyard is, and how the balcony is. The building material is also very evident and can be inspected easily. And on top of all this, you can really look around and find who your neighbors will be and find how the surrounding area is, is it crowded and noisy or is it just too far away from the city because <strong>y</strong>ou will be really getting what you are seeing.</p>
<p>There is a higher chance of such homes being registered with RERA which in turn saves you a lot of running around government offices for not getting kicked out and being on a safer side. Its share of the overall Pennsylvania online sports betting market stood at DraftKings remained https://www.samacharnirdesh.com/?p=who-owns-the-treasure-island-casino/ second, with Pennsylvania had 10 iCasino sites available for play in April after Caesars and DraftKings each added casino play to their online sportsbooks in the latter part of the month.</p>
<p>However, there is a disadvantage to such properties, and that is as they are already made and prepared to host people in, they are generally a higher price than their contemporary, the under-construction houses. They also will not be able to provide you with the choice to change the décor, finishing, and flooring, etc<strong>.</strong> Hence, if you are considering to buy a ready to move in property, please ensure that the property comes with an Occupancy and a Completion certificate. That will make the investment somewhat worth it because it will come with all the benefits like tax benefits.</p>
<p><strong>THINGS TO LOOK FOR BEFORE CONSIDERING TO BUY ANY “UNDER CONSTRUCTION PROPERTY”</strong></p>
<p>Under-construction properties are generally situated on the “not so well established” parts of the city, which generally means that they are not completely done with the finishing and the house is situated in some part of the city that has not received much development. This gives the buyer to amass on the future developmental aspects of the property. As the development of the surroundings of the property escalates, the price of your property rises. But it doesn’t have to be this way every time. One has to look at the location and plans around that area. Moreover, in an under-construction project, a buyer also has flexibility in payments, with options like construction-linked plans, subvention schemes, flexible payment plans, etc.</p>
<p>However, such properties usually do not come with any certification and run low on authenticity. This does not just raise the chances of being kicked out of the property for not able to provide proper papers, but it also raises the chances of fraudulent and losing all the money. Such properties are often used as a hook to engulf in all that is possible. Vegas Slots Enjoy https://www.fontdload.com/is-party-poker-legal-in-the-us/ the thrill of the Vegas reels on your screen.</p>
<p>But the establishment of the Real Estate (Regulation and Development) Act (RERA) and other buyer-friendly policies, aimed at bringing about greater transparency and compliance from developers, could boost home buyers’ confidence in investing in under-construction projects. However, in places where the RERA is not yet implemented, it is a must for a home buyer to check the credentials of the developer and choose a reputed builder for any business at all.</p>
<p>Apart from the risk of being caught in a fraudulent, under construction properties can be more expensive owing to how much work is left on the buyer to complete, all of this and there is GST to consider too. The proper calculation of these renovating processes can cause severe shortcomings in the overall deal and profit.</p>
<p><strong>THINGS TO KEEP IN MIND BEFORE INVESTING IN ANY OF THE ABOVE MENTIONED PROPERTIES:</strong></p>
<ol>
<li>Know exactly what you want and what your budget it.</li>
<li>Compare your budget to the entire deal of renovating/finishing the last touches, the fuel, and transport expenses that would escalate if you were to live here, etc.</li>
<li>Make sure the property has all the required licensing and documents.</li>
<li>Make sure you involve all the parties involving in this affair actively.</li>
<li>In the age of internet and accessibility, the buyer should definitely check the social media, articles, and reviews, and pretty much anything they could find about the builder and the project that may concern them. Random Number Generator software controls the outcomes of online pokies, so neither the player nor the casino has any influence http://vozhispananews.com/captain-jack-casino-no-deposit-bonus-codes/ on what the final results are.</li>
</ol>
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