E-Registration: The Way Forward in Realty Market

    Property is an important commodity for all. Many a times it can come under dispute due to disagreements in families and other factors. To overcome this confusion, the government has decided on starting e-registration to bring in more transparency in the process. It also aims to streamline the registration process of properties that are immovable. Many countries have adopted it and India is keen on doing the same.

So what exactly is the E-registration process, you may ask. In simple terms, it is a process by which the owner provides evidence of his/her title to carry out the transaction to provide lawful disposal of land. Many of the top real estate experts believe that this new method of online registration will negate unlawful activities. Also, the loopholes in the current Land Registration Act of 1925 will be taken care of. This new system will make use of electronic signatures for registering and transferring properties online.
Another benefit that it provides is that if a person is inheriting received a property from earlier generations, then there will be no need to provide hierarchy of land. All this will be available online; so the potential buyer or tenant can come to know the exact value of the property in question according to prevalent market conditions. But, accomplishing this task is no mean feat as there are innumerable flats in Mumbai. And collecting information like number of rooms, carpet area etc. could be a little tedious. It also requires the government to have complete control over document verification. In the future, e-registrations are expected to bring in a high level of transparency, thus benefiting buyers and investors.
The benefits of this new registration method are aplenty. First of all, the details of the property will be available online and thus can be accessed any time. Secondly, it will bring in transparency. The stamp duty will be calculated online and online payment facility will be provided.
Since the properties in a city come under the Tehsil’s jurisdiction, the process for e-registration will be the same for both the commercial as well as residential properties. The government has ensured that the process is kept as simple as possible. The form is available both online and offline in the concerned state’s authority office. Once the documents stored online are verified, the person will be able to register the property in his own name in a few days.

Mumbai’s Growth Through The Eyes Of A Resident

    When real-estate mogul and billionaire Donald Trump decided to invest in Mumbai, the media was abuzz with excitement. Trump is a success story in a line that has rich rewards but notorious difficulties throughout. Why did he choose to invest in Mumbai? What made it appealing for him?

Mumbai has grown over the decades to become the hub for development and real estate along with various sectors related to business like marketing, finance, etc. Even India’s film industry calls it home for a reason. The abundance of the human resource is evident in the city and this high availability has led to a spike in the services sector while also aiding in the growth of the industrial sector in the outer reaches of the city.

This is the reason apartments in Mumbai are selling at an incredible rate. Purchasing properties in Mumbai has become a difficult task over the last few years, owing largely to the influx of immigrant labor from neighboring cities and states and even other countries such as Nepal and Bangladesh. Mumbai has a host of benefits it provides to its residents. As far as Indian cities go, it is well planned with public amenities rarely falling short of the requirements at any point in time. The water and piped gas supplies in most parts of the city ensure that people’s fundamental needs are met, inviting more and more people to come in search of work in the city.

The city has a variety of international level facilities like a suburban rail transit system, suburban bus system, sporting arenas and huge shopping malls. The shopping malls in the city usually cater to large numbers and are well equipped to handle large volumes of people. With the best international brands catering to the average Mumbaikar, the style quotient in the city is definitely on the up.

The recent addition of the air-conditioned metro line in the city means that commutes from the central suburbs to the western ones have been reduced by an hour. The service has proven to be a blessing and with similar services being planned across the city, should increase connectivity making the lives of the average resident easier.

The city is growing; more properties in Mumbai need to be developed. This is the reality. The price of apartments in Mumbai will also have to reduce drastically or salaries of the workforce increase dramatically to ensure that housing facilities do not go to waste. India is witnessing a change of epic proportions, with Mumbai at the heart of most of those changes. The future looks bright for potential homeowners in and around the city, the benefits of development and progress is there for all to see.

Why Real Estate Developers Should Target Senior Citizens’ Market

Real estate is a precious commodity in a city like Mumbai. Given the lucrative nature of land in Mumbai, builders often have to face tough competition amongst themselves to get people to buy a flat in their project. Plenty of ideas are thought of and executed in order to get new investment. But while most of the focus falls on the younger and middle-aged population which earns, there is a section that they often tend to overlook; an untapped segment which, if focused on, could open up new avenues of investment. Well, I’m talking about the senior citizens. Thankfully, the real estate sector has realized this fact and is coming forward with schemes that best suit this category.

You may ask why they should be singled out. The simple answer to it is if this consumer segment is tapped into correctly, it could turn into the differentiating factor in major residential projects. Many real estate gurus are also of the opinion that it could emerge as a new real estate market altogether. Several non-profit organizations are also collaborating with reputed builders to focus on the design of homes of senior citizens. The numbers also back up the need for housing for senior citizens. As compared to 2012, India has seen a tremendous rise in the number of senior citizens. There were more than 100 million senior citizens that year, and the population is going to increase further in the years to come. Many experts are also of the opinion that there’s a huge gap in demand and supply in this segment.

The reason these homes could be lucrative is because more and more senior citizens are willing to invest their hard-earned income in property. As property is a sure-shot way of securing one’s future. It could also mean a steady source of income, in case they plan to rent it out. And what better way to do that than by investing in a residential property in Mumbai.

Another reason why people over the age of 58 are looking forward to properties is because they are willing to stay independently. A senior home provides all the amenities and peace that people of their age require. The design is such that they tend to have bigger doors and wider bathrooms. The switch points are at a lower height and other details are taken into consideration. Other than that, the senior homes also have other fabulous amenities like 24/7 security with CCTV cameras, parks, etc.

It is safe to say that people in the real estate industry will sooner or later realize the benefit of targeting this segment. With most of the people in the 40s thinking long term, the scene looks brighter going forward.