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Weekly News
Mumbai 1BHK with ₹45,000 rent sparks amusement: ‘Sir, that’s a chawl’
‘RERA ‘toothless tiger’ due to lack of enforcement powers'
Office space leasing touches 53.43 million sq ft in Jan-Sep period: JLL
Companies hike work-from-office days in Bengaluru, city records highest ever quarterly leasing: Report
Real Estate Events
bhuminivesh.com is your premier destination for Current Real Estate Happenings
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.
Frequently Asked Questions
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.
What We Offer
- 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.
- In-Depth Trends: Dive deeper with our analysis of the latest real estate trends. We unpack market movements, decode investment opportunities, and forecast future directions to guide your strategies.
Oct 29, 2024 02:55 PM IST
Nisus Finance, BCD Group raises Rs 450 crore for debut fund
Sep 16, 2024 at 08:44 AM IST
Sep 16, 2024 at 08:44 AM IST
BENGALURU: Real estate credit fund Nisus Finance, along with its sponsor and strategic partner BCD Group, has raised Rs 450 crore for its maiden fund.
Read More at:
Nisus Finance, BCD Group raises Rs 450 crore for debut fund, Real Estate News, ET RealEstate (indiatimes.com)Source:ET Reality
Sep 16, 2024 at 08:44 AM IST
Mumbai Coastal Road project: Will its completion impact the South Mumbai real estate market?
Sep 14, 2024 10:25 AM IST
Sep 14, 2024 10:25 AM IST
With the Maharashtra chief minister Eknath Shinde inaugurating one arm of the bow-string arch bridge connecting the Mumbai Coastal Road to the Bandra Worli Sea Link, which he said would enable motorists to travel from Marine Drive to Bandra in just 10 minutes, connectivity between South Mumbai and the suburbs is expected to improve immensely.
Read More at:
https://www.hindustantimes.com/real-estate/mumbai-coastal-road-project-will-its-completion-impact-the-south-mumbai-real-estate-market-101726242525295.htmlSource:Hindustan Times
Bengaluru leads in large office space leasing, transaction volumes touch 4.5 mn sq ft in H1 2024
Sep 13, 2024 12:47 PM IST
Sep 13, 2024 12:47 PM IST
Transactions for office spaces above 100,000 sq ft recorded a substantial YoY growth of 54% in the first half of calendar year 2024 (H1 2024) from 10.18 mn sq ft in H1 2023 to 15.69 mn sq ft in H1 2024. Bengaluru’s large office spaces contributed 53% to the city’s total commercial transaction volumes, amounting to 4.5 million sq ft followed by Hyderabad and Mumbai with 3.08 mn sq ft and 2.66 mn sq ft, respectively.
Read More at:
Source:Hindustan Times
Sep 12, 2024 08:47 PM IST
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A free Lamborghini is allegedly being given to purchasers of each villa in a posh housing development in Noida. In order to attract luxury automobile enthusiasts searching for real estate in the Greater Noida area, the project has developed a special offer.
Gupta pointed out that the ₹26 crore villa price did not include additional fees like power backup (₹7.5 lakh) or allocated parking (₹30 lakh). Customers would have to pay an additional ₹50 lakh to purchase a villa with a view of the golf course, and ₹7.5 lakh to become a member of the club.
Source: Hindustan Times
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The Brihanmumbai Municipal Corporation (BMC) took a firm action to reduce air pollution on Saturday night by issuing stop-work warnings to two building sites for violating air pollution control regulations. The locations, which are in Andheri East's Vile Parle and JB Nagar, were discovered to be in breach of important regulations meant to lower dust and particulate matter emissions during building and demolition operations.
Source: Hindustan Times
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Weekly Realty Updates, Stay updated with Bhuminivesh Insights 🏡
✅Nirav Modi had acquired Rhythm House in 2017 through the company Firestar Diamond from the previous owners, the Curmally family, for ₹32 crore
✅Kalyani Developers’ upcoming project pipeline comprises three housing projects in Bengaluru and one mixed-use development in Hyderabad
✅Urban Vault, which is looking to enter Gurugram in the upcoming quarter, also has Pune and Mumbai on its radar, the company statement said
✅The luxury group housing plot in Gurugram has a revenue potential of more than ₹5,500 crore. This is the 11th new project that GPL has acquired in FY25
✅The Raya Urban Centre is spread over three square kilometres on both sides of the Yamuna Expressway in Mathura district
Source: Hindustan Times
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On October 25, real estate giant DLF revealed that its consolidated net profit for the September quarter had more than doubled to ₹1,381 crore. DLF stated in a regulatory filing on October 25 that the business had reported a net profit of ₹622.78 crore for the previous year.
The company's net profit for the first half of current fiscal year jumped significantly to ₹2,026.69 crore from ₹1,149.78 crore during the same period last year. According to the company, its total revenue increased from ₹2,998.13 crore in the same time of the previous fiscal year to ₹3,910.65 crore during the April–September period of this fiscal year.
Source: Hindustan Times
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Leading Punjabi real estate company Sushma Group plans to deliver more than 500 additional properties in FY-24-25 across its four upscale residential developments, including Sushma Valencia and Sushma Grande NXT.
The first Sushma Joy Nest is MOH 1, and the second is ZRK 1. The group is prepared to celebrate milestones and reaffirm its dedication to delivering high-quality homes in strategic areas of Zirakpur and Mohali, having already delivered more than 300 homes this fiscal year.
Sushma Valencia, which is well situated on the 200-foot-wide PR-7 Airport Ring Road, offers stunning 3BHK villa floors that showcase the classic elegance of Spanish architecture. The project stands out for its expansive design, which includes up to 60-foot-wide internal roads with service lanes, lush lawns, and over 45% open green spaces. It is located within the largest organized mega township in the region. Elevators are installed on villa floors for further comfort. The project is the ideal combination of luxury and convenience because it is close to a famous school, a planned hospital, international restaurant chains, hotels, shops, and an entertainment center.
A happy customer of Sushma Valencia, Mr. Aggarwal, said, *We are really appreciative of Sushma Group; they helped us find our ideal house at Sushma Valencia. We felt confident because of the project’s high-quality construction and first-rate amenities.
Source: Dainik Bhaskar, APN News, Punjab Kesari
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The luxury group housing plot in Gurugram has a revenue potential exceeding ₹5,500 crore. This marks the 11th project that GPL has secured in FY25.
The 7.5-acre site is situated in the Golf Course Road micro-market and has a development potential of over 1.7 million square feet. It will feature luxury residential apartments in various configurations, with an estimated revenue potential surpassing ₹5,500 crore.
Source: Hindustan Times
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🚨 RERA Defaulter List Alert! 🚨
As of January 9, 2024, the following projects by M/s Bajwa Developers Ltd. have penalties imposed under Chapter VIII of the Real Estate (Regulation & Development) Act, 2016, Section 60:
Source: Rera.gov.in
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September 21, 2024
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September 13, 2024
The website is easy to navigate, with well-organized categories and clear search functionality. I can quickly find the information I need without any hassle.
September 13, 2024
I’ve been following RERA updates on this website, and they break down the complex legal jargon into easy-to-understand terms. It’s a great resource for understanding my rights as a buyer.
