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Tuesday, 28 April 2015

Bounce Back of a #realestate #industry in #Lucknow

LUCKNOW:Waking up from a long spell of dullness, the real estate market in Lucknow city showed clear signs of recovery with the Stamps and Registrations department recording a growth rate of 72 per cent in revenue till Jan this year against the 41 per cent growth rate for the corresponding period during last financial year (CPLY). The office of the district registrar realised Rs 223 crore in terms of registration fee and various taxes  against the target of Rs 298 crore as on Jan 31 for the current fiscal.

The real estate market in Lucknow hit rock bottom during the past couple of years due to agitations against state bifurcation, followed by elections and other uncertainties in the state, leaving investors hesitant to purchase plots and flats in Lucknow and other parts of the state. However, the improvement of the political atmosphere and a stable administration now, coupled with the hype over the development of the Heritage City into a smart city helped in the revival of the market.

“The inquiries are translating into real transactions and registrations, after the focus shifted from Delhi/NCR to Lucknow after bifurcation. Thus, we have witnessed growth in the registrations at all the Five sub-registrar offices that comprise Lucknow registration district covering the city and the neighboring
areas in 2014-15,” said the officials at the District Registrar Office.
The annual target for the five registration offices constituting Lucknow registration district is Rs 335.1 crore and the revenue collection till January 31 is Rs 298 crore. Of this, the officials could realise the revenue of Rs 247 crore recording a growth rate of 72 per cent as against 41 per cent CPLY. Even when compared to the annual revenue target, the revenue realised so far forms 45 per cent of the annual target.
Realtors point out that areas like Faizabad Rd, Sultanpur Rd, Sitapur Rd and Raibareily Rd continue to attract the maximum attention of the investors. “The market is really picking up and serious buyers are purchasing properties. We are expecting a steep growth in the city and peripheral areas during the next six to eight months,” said Mayur Raj Kapoor, chairman & Director Money Bricks..

Monday, 20 April 2015

How to get Real Estate Broker License in India !!!

NOIDA: The UP government has planned to draft a new law to tighten the noose around fraudulent real estate agents so that interests of homebuyers are protected. A senior official in Lucknow said that under the law dealers are required to register themselves with a local government body and obtain a license for practicing.

The UP urban housing department is drafting the bill to regulate property brokers. "Once the draft bill is ready, it will be approved first by the cabinet and then passed by the legislative assembly to make it a law," said an official.

With the boom in real estate, especially in areas like Noida, Greater Noida and Yamuna Expressway, a large number of cases of property fraud and cheating have cropped up. "Usually police do not entertain such cases or have no means to bring the fraudsters to book. The bill will ensure that interests of the common man are protected stringent action is taken against unethical dealers," the official said, adding that while brokers enjoy handsome commissions, with a few big players making crores of Rupees overnight, they hardly take any responsibility of buyers in cheating cases.
The draft states, "The district magistrate or any other top official in each district will be appointed as the nodal officer, who will issue licences and address grievance of buyers against erring agents, who, in the absence of any regulatory authority go scot-free in case of cheating or poor services."

Realty experts said this decision will bring in more accountability, reliability and transparency for homebuyers. "This decision should have been taken much earlier. Strict implementation of the bill is required in order to make this effort a success," said RK Arora, vice president CREDAI (west UP) and CMD Supertech group.

Other developers said brokers play a major role in the real estate sector. "Due to a few unethical brokers, the entire industry suffers. We hope this bill will boost the credibility of the realty sector," said Mayur Raj Kapoor, Founder-Director, Money Bricks

Saturday, 11 April 2015


Cementing Every Brick with Trust & Loyalty!!!

Money Bricks is India first and fastest growing Real Estate Company providing world class B2B services to all the segments of the industry. Whether you are a buyer or a seller of property, a local resident or a newcomer to our magic world of Real Estate, we are here to listen.Our agency service is rich in integrity and commonsense, high in results and customer satisfaction and low in stress and hassle for our clients.We are professionals of the highest standard.
We do talk straight and don’t beat around the bush but we are nice people. We don’t shout about being the best, but quietly we suspect we probably might be!
Why Money Bricks
It is hard work choosing the right agent to sell your property. There are plenty of agents and agencies that will say just about anything to get your listing and then do nothing – until of course they come back to you arguing for a price reduction on your property so it sells itself with no work from them.
But how do you choose between the genuine good agents, all saying very much the same thing?
At Us Real Estate, we understand that Real Estate is about Real people who want real results. Sure this is a simple statement but if you think about it, aren’t the best things in life, sand in your toes, beautiful sunset, a really good laugh with a mate, hugs from your kids……….
Real People
At the forefront of every move we make, we always ensure U are the most important part of us, we don’t just say it we live it.
Our agents are down to earth, hardworking, straight talking professionals. Our clients are people who want an honest, no-nonsense service where they have feedback every step of the way as to what we are doing and what prospective buyers are saying. Together it works extremely well.
Qualified Buyers
We make sure every buyer is fully informed of all the advantages and benefits of your property so there is no miss information.
We utilize our extensive data base of buyers, our impressive internet marketing and enquiry from our associates to create a competitive environment amongst all the buyers to purchase your property. This interns ensures we get the maximum result for your property in the shortest possible time frame.
Creating Brokers World
The major problem faced by the brokers in real estate industry in India is not get paid the commissions committed by the Builders or Sellers.
As we being researching about the solution for the same we found many loop holes in 82% of real estate transaction we have seen so far. In spite of being one of the largest industry in India this is still unorganized to this extent. 
So be a Smart Broker join Brokers world today, dont loose on your hard earned commissions now.
Here are top 6 benefits of being a Smart Broker :

1) Get duly signed MOU with detailed information of commission slab.
2) Get Commissions on Verified Seller Listings
3) Double your income within 2 months
4) Get Trained from Real Estate experts.
5) Get free web Page.
6) Get Buyers lead to maximize sales. 

We hope you found this information useful and wish you every success in the sale of your property. If you still have any queries or concerns, please do not hesitate to contact us and we will be more than happy to help. If you are ready for a free market appraisal, just give us a call or complete the Free Appraisal Form and send it through to us now.

Tuesday, 7 April 2015

New Real Estate Development & Regulation Bill !!!

The  Union Cabinet has approved the Real Estate Development and Regulation Billalong with certain key amendments that will make way for setting up of a  regulator for the sector. The Bill and a uniform regulatory mechanism across the country are aimed at protecting property buyers' interest by bringing in much-needed transparency and accountability into the sector. 

Through the amendments, the Cabinet has extended the applicability of the Bill to commercial  Real Estate also. Ongoing projects that have not received Completion Certificates so far have also been brought under the purview of the Bill and these projects need to be registered with the Regulator within 3 months, the Union government said in a release. 

One of the major modifications to the Bill is not to allow promoters to change plans and structural designs without the consent of 2/3rd of consumers of a project. 

The Bill also seeks to make property brokers accountable as they have also been made punishable for non-compliance of the orders of Regulatory Authority and Appellate Tribunals to be set under the proposed law. 

The Bill, which was first introduced in Rajya Sabha in August 2013, seeks to ensure accountability and transparency that in turn will enable the realty sector to access capital and financial markets essential for its long term growth. Efforts have been on since 2009 for creating a regulatory mechanism for the real estate sector on the lines of other regulatory bodies for other sectors such as insurance and telecom. 

Developers are expected to register their projects and disclose all relevant information including schedule of development works, land status, status of statutory approvals, pro-forma agreements, names and addresses of real estate agents, contractors and architects with the Regulatory Authorities to be set up and comply with the same. 

Builders will now not be able to divert funds of their projects as they will have to deposit 50% of funds collected from buyers within 15 days in a separate bank account to meet construction costs. This provision of 50% has been made after taking into account the cost of land needed to be acquired before announcing a project. 

Under the other new stipulations approved by the Cabinet, States will have to make rules within a year, rank of adjudicating officer has been elevated to that of District Judge, web based online system for submitting applications for registration of projects to be introduced within one year of the establishment of Regulatory Authorities and Regulator has to decide cases within 60 days. 

The penal provisions under the proposed law include payment of 10% of project cost for non-registration and payment of additional 10% of project cost or 3 year imprisonment or both if still not complied with. 

For wrong disclosure of information or for not complying with the disclosures and requirements, payment of 5% of project cost will be imposed. The Bill provides regulatory authorities the power to cancel project registration in case of persistent violations and decide on the further course of action regarding completion of such projects. 

For fast track dispute settlement, one or more adjudicating officers will be appointed to settle disputes and impose compensation and interest. Appeals against adjudicating officer and Regulatory Authority will lie with the Appellate Tribunals to be set up and final appeals will lie only with High Courts. 

Under the proposed Law, one or more Regulatory Authorities will be set up in each State and Union Territory or one Authority for two or more States or Union Territories by the concerned Governments for oversight of real estate transactions.

Saturday, 4 April 2015

How to Grow Real Estate in India !!!

#Real Estate industry in #India is facing a downfall since last 2 years inspite of massive development and infrastructural Growth under the #Narendra Modi's leadership. So why this is happening, 
What we have been come across while surveying the same we found a big gap between #Builders #Brokers . 
Brokers are sad as the market is down but they are not doing anything about it they are not selling at all because market is down. So if you don't sell if the market is down then how the hell market will go up. In the down market there is a opportunity for you to negotiate with builders for better commissions and work  hard to deliver. 

Now question arises why brokers are not selling at all , during our survey some brokers not opening their offices saying they don't have work to do so to cut the office expenses they are doing so. When asked why u don't have work to do they all started blaiming the #Builders , we found more then 83 % brokers gets less then 50% of their #Commissions committed by the builder.
 The second issue is project deliverance in our survey we found there are more then 42 % projects which dint even started development since the prelaunch in two years. 
Now in order to organise and grow the #Real estate #Industry in #India builders had to realize their responsibilities and to develop more transparency. 
#builder and Broker has to go hand in hand !!!

Future of Real estate industry in Lucknow !!!

With current population of more then 6 million and expected to cross 10 million by 2018 #lucknow is Ranked 7th most developing city in the world with the sanctioned #Infrastructure investments of more then ₹14 lakhs Crore. 
Hence, #Lucknow is one of the best city in #India for #real estate #Investments and future seems Bright with the following upcoming Projects.
1)Lucknow Metro by 2016
2)International Cricket Stadium by 2016
3)Lucknow I by 2017
4)IT City by 2018
5)Six lane express highway connecting Yamuna express highway by 2017
6)Asias Largest Amul dairy by 2019
7)Hightect Bus Stop 2016
8)More then 10 5 star chains hotel by 2017

And there are many more in the kitty of #Akhiles Yadav. 

Wednesday, 1 April 2015

Be a Smart Broker - Don't loose your commissions !!!

The major problem faced by the brokers in #realestate industry in #India is not get paid the commissions committed by the #Builders #Sellers.
As we being reasearching about the solution for the same we found many loop holes in 82% of real estate transaction we have seen so far. Inspite of being one of the largest industry in India this is still unorganised to this extent. 
So be a Smart Broker dont loose on your hard earned commissions. 
Here are some tips how to be a Smart Broker.
1)Do not List any property unless you have a duly signed MOU with detailed information of commission slab.
2)Committ what u can sell. Do not make fake commitments to the Builders /Sellers.

For more information on this kindly write us
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