Real estate in Chennai

The burgeoning domestic real estate market has started to attract yet another section of the global real estate industry — real estate service providers (RSPs).

The UK-based MoneyWise group, which provides advice on financial planning, mortgage broking and investment property sourcing, has entered India. It will invest £100,000 (approx Rs 80 lakh) here to expand its presence by setting up new offices.

The realty share in India’s GDP has gone up to 7% from 5.2% in ’02-03, but it still compares poorly to 15% share of realty in developed economies. Hence, the potential for growth is enormous, which is luring foreign companies.

MoneyWise has tied up with 20 realty developers like Bangalore’s Prestige and Sterling group, Pune’s Kumar and Gera Developers, Delhi’s Vipul and Unitech and Mumbai’s Keystone group to offer properties to 1,000 odd clients.

For more details follow this link http://economictimes.indiatimes.com/articleshow/1492557.cms

Countless buyers and sellers put in innumerable hours charily probing properties or preparing their homes for sale. Even if you’re not an experienced negotiator, there are steps you can take to improve results whether you’re buying or selling property. Negotiation doesn’t need to be a confrontational process if you set priorities, plan ahead and stay focused on issues, not personalities.

By far the largest expense related to traditional real estate transactions is the agent/brokers’ commission, and independent buyers and sellers should take advantage of this fact. Without the overhead expenses of a 5-6 percent commission, both buyer and seller have a little more flexibility to come to an agreement that’s acceptable to both parties. Here are some negotiation tips for independent buyers and sellers.

Seller negotiating instructions:

1) Set levelheaded priorities before commencing.

When selling, be sure to outline realistic goals before negotiations begin. Expect to have very different negotiations and their results from the price you originally determined for selling your house. If your aim is to sell the property inside 30 days

2) Eventually, the marketplace sets the price.

If you make your house’s price very high then it may sit on the market, becoming less enticing to buyers (some sources estimate a monthly decline of 1.5 percent). Contrarily , if you price it very lowly then you get less room to negotiate and may lose money eventually.

3) Take inventory to take advantage.

Characteristically, property sales include anything that’s installed or built in to the home. If you’ve got appliances, furniture or fixtures you’re willing to part with, you may be able to entice prospective buyers by counting them in the deal.

Buyer negotiating guidelines:

1) Fix your credit

A grand approach to brace up your case as a purchaser is to display superb credit. The time to test out credit is well before talks commence so you can square away problems.

2) Procure pre-sanctioned, not simply pre-qualified

Pre-sanction is another mode to display your buying prowess as it permits you to exhibit a probable trader that your lender is willing to grant you a loan. Numerous sellers will opt for a lower offer from a pre-approved buyer above a higher one from one who hasn’t been pre-approved.

3) Search for vistas in addition to price.

Though self-governing sellers can avoid some or all commission costs, there are still other fees that might pertain: property and termite check, escrow or attorney’s fees, a title search, insurance costs and pertinent taxes.

4) Be Primed to Conciliation.

Negotiating with a provoking “win-at-all-cost” mindset is dubious to confer encouraging consequences. Countless pros who teach negotiating put a more pragmatic aim is to hit upon a reciprocally advantageous resolution in which both parties must “win.”

5) Back up your offer

When offering to buy a property, you don’t have to explain how you arrived at a specific dollar amount. But you may do better in dialogue if you have some objective basis, such as examining comparable sales.

Ever wondered how those traffic congestions could be eased? Well there is no real solution with an estimated 750 new vehicles being registered every day in the city. In such a scenario reaching your workplace on time becomes of paramount importance as stress and congestion make it difficult to access the luxuries of commercial success.

Large spaces for luxurious amenities and leisure zones are difficult to come by in the city center. Integrated townships could be the answer to relieve the intense pressure of traffic congestion and prolonged commuting time in urban areas. In a township, scientific planning makes it possible to bring together a host of developments seamlessly.

This in turn makes it convenient for residents to access a variety of amenities and services, without the difficulties of distance and long commuting time. Townships come in as spaces where convenience beats stress. It is said that Singapore is a role model for building integrated township projects where every service can be accessible in 5–10 minutes walking distance within the area.

The concept of integrated township has now taken center stage due to government's liberalised investment policy allowing foreign companies to invest 100 per cent in real estate development under the automatic route. This could spell success to planned development and change the way of community living across the major cities in the country.