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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.
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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According to CEO Thirumal Govindraj of RMZ Corp, the real estate developer, the company intends to invest roughly $2.2 billion (about Rs 18,000 crore) over the next five years in a variety of sectors, including commercial, hospitality, and residential real estate. The investment includes acquisitions of various asset classes as well as greenfield initiatives.
With plans to acquire an additional 10-15 million square feet in the offices segment by the end of 2025, RMZ currently has approximately 17–18 million square feet of office space under construction. The company primarily targets its home city of Bengaluru, as well as Chennai, Hyderabad, Mumbai–MMR, Delhi–NCR, and Pune, the six major real estate markets.
Source: Money Control
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✔The partnership aims to foster the exchange of knowledge, expertise, and technical advancements in fire protection, life safety, and security systems.
✔ Barring a minor dip in the January-March quarter, sales in the luxury housing segment in India have recorded a sustained rise in market share, starting Q3 2022.
✔Mumbai real estate: The transaction for property spread across an area of 77,079 sq ft was registered on September 26, according to the documents.
✔Bengaluru real estate: While the draft e-khatas have been uploaded online citizens must submit additional documents to secure the final e-khata.
✔Key sectors that drove leasing in Bengaluru during the July-September quarter include technology (21%), e-commerce (17%) and flexible space operators (15%).
Source: Hindustan Times
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Home buying Myth!!
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Breaking News!!
Source: Hindustan Times
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Do you know what closing fees is?
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Real Estate Stock Update!!
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Source: Google Finance
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Between July and September, sales of homes in the top eight cities increased by 5%, reaching 87,108 units. Mumbai led the way with 9% growth in sales to 24,222 units, possibly the highest quarterly sales volumes since 2018, according to a new research released on October 3 by real estate consulting firm Knight Frank India.
All markets have seen an increase in house sales, according to the research, with the exception of Delhi-NCR, where sales have decreased by 7% YoY. Bengaluru saw 11% YoY growth in sales with 14,604 units.
Source: Hindustan Times
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On September 28, one of the misled buyers filed a lawsuit against Ozone Infra Developers Pvt Ltd, accusing it of selling the same house to two different buyers in its residential project at Devanahalli. Shashikanta Gupta, a home buyer, filed a complaint against the promoters, alleging criminal breach of trust and defrauding.
Over 45 acres, Ozone Urbana Avenue is home to 1,800 homes and about 300 sites. The Kempegowda International Airport is not far from there. The project's completion date has not been extended this year by the Karnataka Real Estate Regulatory Authority (K-RERA).
Source: The New Indian Express
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Latest Realty Update!!
Source: ET Realty
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September 21, 2024
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September 13, 2024
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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.
