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Unveil the dynamic world of real estate with bhuminivesh.com, your trusted authority for the latest real estate news, trends, and insights. We empower informed decision-making by delivering current market updates, insightful analyses, and expert-driven perspectives – all designed to transform you into a real estate savvy investor. Our comprehensive platform keeps you ahead of the curve. Explore our news area in-depth to learn about recent events in the industry, alterations in policy, and shifts in the market that may affect your investments. We provide in-depth trend assessments to interpret market movements, spot profitable possibilities, and project future trajectories. We go beyond the headlines.
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A real estate agent is licensed to assist with property transactions, while a Realtor is a licensed agent who is also a member of the National Association of Realtors (NAR), adhering to a strict Code of Ethics and additional professional standards.
To determine the value of a property:
- Compare Similar Properties: Look at recent sales of similar properties in the area.
- Consider Location: Location greatly influences value.
- Assess Property Condition: Evaluate the age, maintenance, and upgrades.
- Review Market Trends: Understand current market conditions and trends.
- Get a Professional Appraisal: Hire a licensed appraiser for an expert valuation.
- Consult Real Estate Agents: Agents can provide comparative market analyses based on their local knowledge.
Property taxes are levied by local governments on real estate properties and are a major source of revenue. They are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by a tax assessor, taking into account factors like property size, location, and improvements. The tax rate, expressed as a percentage, is applied to the assessed value to determine the annual property tax amount.
Example: If your property is assessed at $300,000 and the local tax rate is 1.5%, the annual property tax would be $4,500.
Some common pitfalls to avoid when buying a property include:
- Not getting pre-approved for a mortgage: Knowing your budget upfront helps in focusing your search and making competitive offers.
- Skipping property inspections: Inspections uncover hidden issues that could lead to costly repairs later.
- Neglecting to research the neighborhood: Understanding local amenities, schools, and crime rates ensures the property meets your lifestyle and investment goals.
- Ignoring hidden costs: Beyond the purchase price, consider closing costs, property taxes, and ongoing maintenance expenses.
- Failing to review the contract thoroughly: Ensure you understand all terms and conditions, including contingencies and timelines.
- Not considering resale value: Evaluate the property’s potential for appreciation and marketability in the future.
Avoiding these pitfalls can lead to a more informed and successful property purchase.
Financing options for international buyers or non-residents purchasing property in a foreign country typically include:
- Cash Payment: Many international buyers choose to purchase property outright with cash.
- Local Mortgages: Some countries offer mortgage loans to non-residents, although terms and requirements may vary and can include higher interest rates and larger down payments.
- Developer Financing: In some cases, developers offer financing directly to buyers for new construction properties.
- Private Financing: Non-traditional lenders or private investors may offer financing options, though terms can be less favorable than traditional mortgages.
Each option has its considerations regarding eligibility, currency exchange risks, and legal implications. Buyers should research thoroughly and consult with local financial advisors and real estate professionals for guidance.
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- Breaking News: Keep up of the latest developments in real estate news with our real-time coverage. Learn about changes in the market, policy changes, and industry trends that affect your assets.
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Source: Hindustan Times
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On November 20, Godrej Properties Ltd. declared that it has purchased a 53-acre plot of land in Joka, Kolkata. According to the firm, the proposed project has an estimated 1.3 million square feet of saleable area and is primarily a residential plotted development with a potential revenue of about ₹500 crore.
According to the corporation, the site is ideally situated in Joka's rapidly growing micromarket, which is near the main city and Diamond Harbour, a popular weekend destination by the sea.
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Source: ET Realty
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According to experts who spoke to HT.com, land prices in Amaravati, the greenfield capital of Andhra Pradesh, have stabilized and transactions have increased since the Telugu Desam Party, led by Chandrababu Naidu, returned to power in June 2024 with a resounding majority in the state assembly polls.
According to Noman Ellahi, Country Head of Square Yards "Property transactions in Amaravati, largely land-related, have risen by 6-8% year-on-year in recent times".
Source: Hindustan times
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Source: Money Control
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In real estate, possession refers to the physical control or occupancy of a property. It means having the right to use and enjoy a property, whether you're the owner, a tenant, or someone with permission to occupy the space. Possession can be either actual, where someone physically occupies the property, or constructive, where a person has legal rights to the property without physically being there, like having a property manager or tenant in place.
Possession is important in real estate transactions, as it determines who can use the property and when. In a sale, possession typically transfers from the seller to the buyer at closing, though it might occur at a later date based on the agreement. Legal disputes over possession can arise, especially in cases like adverse possession, where someone may claim ownership after occupying the property for a certain period without the owner's consent. Understanding possession is key to resolving conflicts and ensuring clear property rights.
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On the back of renewed investor confidence, strong homeownership sentiment, large-scale infrastructure development, and rising cost of land and construction, the National Capital Region (NCR) has seen an increase of 137% in housing prices of new residential projects. In Noida, Gurugram, Ghaziabad, and Greater Noida prices have almost doubled between September 2019 and 2024, according to a report by PropEquity.
Source: Hindustan Times
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