HINDU DAUGHTERS PROPERTY RIGHTS

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All  hindu daughters have equal right in the property  of her father now according to the amendment in Hindu Succession Act 1956, passed in September 2005.  It states that a daughter can be the Karta of an HUF (Hindu Undivided Family).  The Hindu Succession Act is applicable to Hindus, Jains, Sikhs and Buddhists.  It applies even to those girls who are born prior to this date.

With this amendment,

  • The daughter gets all the rights attached with coparcenary, including the right to ask for partition of the property and to become a Karta of the HUF.
  • Only the daughters who are born in the family, will get the coparcenary rights. Other female members, who come into the family by virtue of marriage, are still treated as members only. Thus, they are not entitled to ask for the partition but are entitled for maintenance and shares as and when partition takes place.
  • After marriage, a daughter will cease to be a member of her parental HUF, but will continue to be a coparcener. Thus, she is entitled to ask for partition of the HUF property, as well as to become the Karta of the HUF, in case she happens to be eldest coparcener of her father’s HUF.
  • Even in case of a married daughter who has died, her children shall be entitled to the shares that she would have received, if she was alive on the date of the partition. In case none of her children are alive on the day of partition, the grandchildren will be entitled to the shares that the daughter would have received on partition.
  • The daughter cannot gift her share in the HUF property while she is alive but she is fully capable of giving away her share in the HUF property by way of a will. If a will is not prepared, on her death, her share in the joint property shall not devolve on other members of the HUF but will pass on to her legal heirs.

 

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What will property buyers expect from 2018?

Buyers Guide, , , ,

With the  end of short term effects of  these policy changes , we hope that 2018 might be the year of investors  provided the long term benefits of the RERA and GST.  Real estate saw upward  trend in l 2017  after  the  storm of  demonetization in 2016 . It was a setback for  investors and buyers alike. But with passing time it  was clear that  policy changes such as demonetization , RERA Bill and GST  has only benefited the reality sector by making it more transparent.  Effects of demonetization, RERA and GST has given new standards of delivery, accountability and transparency. Willingness to pay for long-standing reputed developers will increase.  Preference for ready to move-in properties that are hassle-free of any compliance issues.  Completion of existing projects will be prioritized over launching new ones. Technology will  also have good impact on the real estate sector. New  smart buildings  made with growing technology will help both building owners and buyers by improving performances and saving costs.

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Top Selling Tips For Your Home

Buyers Guide, , ,

Keeping  the surrounding and outside of your home  looking  nice and clean can make the first good impression on your customer. Keep your windows open while inspection if your house is showcasing its natural light and fresh air through open windows and doors could  improve the chances of sale of your home, Removing  heavy curtains or dark shades can make the room brighter and spacious.  Clean  your house before inviting potential customer , neat and clean rooms make the home attractive and suitable for living a healthy life. Remove or keep aside your  things which are too  personal. make sure that you keep every room neutral and less  occupied so that it looks spacious and not too personal or small and congested. So customers can think  themselves living there.  Too much  furniture ruin things for you it may  make your rooms look small. If you have any pets remove them when your bring someone to show your house they may not like your pets and can damage your  potential home deal.

 

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Top 5 Home Buyers Mistakes

Buyers Guide, Mysore, , , , ,

Buying a home takes a lot of time and preparation. Being well prepared is worth it in the long run.

While buying your dream home, you must always clarify how much it is going to costs  you to buy a home. The expenses that comes with owning a home. is first of them.  Ignoring  additional expenses of buying a home is very common mistakes a first time home buyer makes.

Relying very much on online home value estimation stuffs can be misleading and may costs you both time  and money when buying your first home.  But, just for assessment its recommended to get all the facts ready.

Some may not give much attention for the  property or home inspection  but it is one of the worst first time home buyer mistakes  of not having proper inspection  it can avoid lots of trouble and your hard earned money.

Making  changes in you purchase budget before finalizing the deals can become dangerous and can be  seen  frequently. For first time buyers , the number one reason is  awareness.

Not asking  questions on doubt,  no matter how silly your questions are  don’t feel embarrassed to ask .  If you have any question for us don’t hesitate to ask.

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Tough times changing time, those who evolve will succeed : Real Estate

Buyers Guide, , ,

Last few years were tough time for reality sector and with sudden announcement of demonetization it became tougher bringing fear and insecurities to the real estate sector. But, somehow with changing times it gave a new ray of hope to the sector for clean and transparent market ahead. With new government policies of RERA and GST shaping the reality sector we hope for better and more stable real estate market. With every change fears and insecurities comes along as we get comfortable in the way we’re doing things and we have to go through some difficulty adjusting to the changes, But, those who embrace changes sees opportunity in every changes and they not only succeed but thrive. The secret to change is to focus on the opportunities lying ahead, not the old comfort way.

To survive, organisations have to embrace change. The strategy to survive and become a leader one needs to be constantly adapting to the change in an ever changing landscape. In order to achieve this, the focus must be on the opportunities lying ahead and aim for long term benefits of changes happening around even in a turbulent and continuously changing environment. Need to evolve a strategy for coping with unanticipated events. Those who evolve will succeed change happens fast and you must evolve to keep up with those changes or fail in the way. Changing times can imperil even the most successful companies. People who change after change will survive, people who change after change will succeed and people who cause the change will lead.

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How RERA and GST is shaping the realty sector?

Buyers Guide

With the new rules of RERA and GST coming there it is a general perception that it will bring the real estate sector on track. Increase in demand in the sector is expected and the prices will be likely to go down. Post RERA the general view is that the sector is going to be more buyer friendly and large cap real estate.

The recent government policy has generally improved the mood and has increased buyers confidence in the wake of government reforms happening recently. Buyer’s positive change of mood has lot to do with RERA policies towards customer’s long standing concern for better transparency and accountability in real estate transactions. With lack of trust and insecurities among the people earlier many people were hesitant to put their hard earned money to buy houses from developers because of the lack clarity and transparent policy to regulate the real estate market in case something goes wrong and they might get stuck in the legal process.

Centre’s focus on affordable housing and rate cuts have also encouraged the lower income home buyers. The interest rate has gone down and a positive recovery is very much expected in the residential sectors. RERA will boost the confidence of investors and will protect the buyers from fraud, false promises and violation of acts. Now buyers will be able to make informed decision based on the RERA and GST Bill. The right of consumers will be well protected and will encourage the investors as well.

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How will home buyers benefit from RERA?

Bangalore, Buyers Guide, Hubli, Mysore, , ,
  • Home buyers who use the services of realty agents and agencies will now be protected as the Act renders brokers and agents punishable if they do not abide with the regulator’s strictures ruling.
  • It will bring transparency, better governance and accountability to the real estate transactions and processes.
  • False promises and wrong delivery of real estate property will end.
  • Home buyers can approach the authority to settle disputes with errant builders.
  • Developers will have to sell flats based on carpet area and not super built-up area.
  • 70% of the money received from buyers be deposited in an escrow account and used only for the purpose of the development of a project.
  • The unfairly falsely allotted property buyers is entitled to receive compensation under RERA.
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Will RERA change the way real estate functions?

Bangalore, Buyers Guide, Hubli, Mysore, , , , ,

Definitely. With a promise of protecting the right of consumers and ushering the transparency The Real Estate (Regulation and Development) Bill, provides a legislation to protect home buyers and encourage genuine private players. Passed in March last year the long awaited RERA Act has finally coming into effect from May 1 where consumer is the king.

It will change one’s home-buying experience as the primary aim of the Act is to bring transparency and accountability from all stakeholders. Violation of orders of regulatory authorities may cause imprisonment of up to three years for developers and up to one year in case of agents and buyers . it will make mandatory for the builder to disclose details like approvals received, layout plans, court cases against them,registration etc.

Demand will improve as buyers will have increased confidence about investing in the property market. The real estate prices will remain stable now but rates could rise in the next six months. RERA will boost the confidence of investors. It will protect buyers who have purchased flats in the past. the RERA will provide relief to home buyers. It will help buyers get well-defined product typology and interior specifications. Therefore, Buyers will be able to make informed decision on a well laid-down information.

 

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Why you should invest in Tier-II cities like Mysore

Buyers Guide, Hubli, Mysore, , , ,
  •  Low costs real estate properties are easily available in Tier II cities.
  •  Higher and Faster appreciation of your properties.
  •  Booming real estate market.
  •  Affordable properties has wider demand and unexpected returns on your investment.
  •  Convenience to sell your property in tier ii cities in future gives more stability to your investment plans.
  •  Due to increasing cost of real estate and rapidly growing IT and other industries in tier-II cities high appreciation is more than certain.
  •  With Increasing commercial activity and services in Tier II cities also increases the demand for more residential properties.
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Demand of Real Estate Sector in Tier-II Cities

Buyers Guide, Hubli, Mysore, , , ,
Tier II cities has the possibility of yielding maximum return on your real estate investments.  It poses all the basic amenities, better infrastructure and transportation system. Health and educational institutions, corporate and industrial institutions and many more but it still has lots of scope for growth hence increases the demand for residential and commercial properties.
  Most of the Tier II cities has been selected for Smart city project and will shoot up the real estate price once the project gets started.  Expanding number of industries, commercial hubs and new infrastructures have accelerated the demand for more real estate projects.
Selection of several Tier-II cities for smart city has made them a promising real estate investment destination for NRI investors.
  Tier-II cities are not only good for end-users with small pockets but are also great investments considering the potential price appreciation.  The passage of the Real Estate Bill will also play an important role in the protecting the interest of buyers and ushering in more transparency in a sector for opacity.
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