MJK Real Estates

Warning for Homebuyers: Expect a 10-15% Price Increase Government Initiatives Amid Pandemic The real estate and construction sectors, heavily impacted by the COVID-19 pandemic, have seen the central government introduce several incentive schemes to spur growth. However, due to various new challenges, prospective homebuyers are now facing an additional 10 to 15 percent increase in costs. Rising Construction Material Costs Since January 2020, the prices of construction materials have been steadily increasing. Simultaneously, market demand has surged, forcing real estate and construction companies to purchase materials at higher prices without alternatives. Price Hike in Materials Over the past year, the prices of tiles, bathroom fittings, electrical fittings, and wooden materials have risen by approximately 20 to 30 percent. Unable to absorb these costs, construction companies have passed the price increases onto the customers. 10-15% Price Increase for Homebuyers As a result, buyers of ...

 High Court Orders Re-registration of Lands Registered Before October 23, 2016 High Court Relaxes Ban on Registration Chennai: The High Court has relaxed the ban on land registration. It has allowed the re-registration of approved and unapproved plots that were registered before October 23, 2016. Background of the Ban A case was filed in the Chennai High Court seeking a ban on registering agricultural lands as residential plots. After hearing the case, the High Court imposed a ban on registering agricultural lands as residential plots. Real Estate Developers' Appeal In response to the ban, real estate developers filed a case in the High Court requesting the removal of the ban. The case was taken up for hearing in January. During the hearing, representatives from the real estate sector argued that the ban was adversely affecting the public. Government's Response and Court's Direction Following the arguments, the judges stated that the government should decide on the issue, c...

 How RERA Impacts Homebuyers: Key Compliances The Real Estate (Regulation and Development) Act, 2016 (RERA) was introduced to protect the interests of homebuyers and ensure transparency in the real estate sector. Here are some key compliances under RERA that significantly impact homebuyers: 1. Project Registration All real estate projects must be registered under RERA before any advertisement or sale. This ensures that only approved projects with valid documentation are marketed and sold, protecting buyers from fraudulent schemes. 2. Transparency in Advertising Developers are required to provide accurate and complete information about the project, including the layout plan, carpet area, and the status of approvals. Misleading advertisements can result in penalties, ensuring buyers receive truthful information. 3. Timely Project Completion RERA mandates developers to adhere to the timelines provided at the time of registration. In case of delays, buyers are entitled to compensation,...

 The Best Place to Buy Affordable Homes in India! Growing Dream of Homeownership As the Indian real estate sector continues to grow rapidly, owning a home remains a significant dream for the middle class. To encourage this segment, the central government has announced various schemes, but the primary beneficiaries are often those with greater financial means. Finding Affordable Cities So, which cities in India offer the most affordable housing options for the common man? Knight Frank's Affordability Index According to the 'Affordability Index 2021' released by Knight Frank, a leading real estate advisory firm in India, cities with house prices at 50% or less of the income level are considered affordable. The index assesses the affordability of housing in major cities. The 50% Benchmark If the affordability index is below 50%, the housing prices are considered affordable; if above 50%, they are deemed expensive. Among the major eight cities in India, Mumbai has the highest h...

 Tata's Major Decision: ₹4000 Crore Investment in Real Estate! Tata Group's Diverse Portfolio The Tata Group, one of India's largest conglomerates, operates in various sectors including IT, automobiles, manufacturing, and real estate. Tata Realty, the company's arm in the real estate and construction sector, is taking significant steps in the post-pandemic economy. Government's Construction Sector Focus After the COVID-19 pandemic, the Indian government has heavily relied on the construction sector to boost the country's economy, trade, and employment. The government plans substantial investments in this sector, prompting private real estate and construction companies to follow suit. Tata Realty's Major Investment Tata Realty and Infrastructure has planned an investment of approximately ₹4000 crore in residential and commercial projects over the next two years. In addition, they have decided to resume the stalled Mumbai Mulund project. Post-Pandemic Real Est...

Rising Populations in Bangalore, Pune, and Chennai: The Future Outlook  Real Estate Stocks on the Rise In recent sessions, real estate stocks have started to peak, and expectations in this sector are increasing. With interest rates at historically low levels and the economy rebounding, demand is also coming back. Specifically, there is growing interest in real estate among the middle class.  Historic Low Interest Rates Many people now have the mindset that owning a home, even if it's a small one, is crucial. This is the perfect time to fulfill that dream, as banks are offering home loan interest rates at historically low levels.  BSE Realty Index Performance Meanwhile, the BSE Realty Index has seen a 10% rise in the last five sessions and a 35% increase so far this year. There are many favorable indicators that suggest further growth in this sector's stocks.  Growth in the Realty Sector The Nifty Realty Index has broken a decade-long stability. Research reports indic...

Understanding Real Estate Real estate is a commonly known term to everyone. However, let's explore the relationship between buildings such as houses, plots, land, and the term real estate.  Historical Context of Real Estate The term 'real estate' used for buying and selling houses and plots has been in practice since the 17th century. Despite the changes in ownership of land or buildings over time, they remain permanent and true in nature, which is why they are referred to as "real."  Evolution from Royal Estate to Real Estate During those times, if a citizen of a country passed away, their properties would become the possession of the king. The heirs of the deceased would write a permission letter to the king to claim the property. Thus, the term 'Royal Estate' eventually evolved into 'Real Estate.'  Land and Uniqueness Real estate pertains to land, plots, and houses. The term real estate is used based on the idea that no piece of land is identica...