Real Estate Regulatory Bill in India - for regularization of practices by Builders and Promoters

1. Developers can launch projects only after getting all relevant clearances.

2. Developers cannot offer any pre-launch sales without the regulatory approvals.

3. Authorities have 15 days to approve or reject a project.

4. Construction to begin only after the developer's website has displayed all details of the project including receipt of clearances.

5. The buyers are entitled to full refund with interest in case of delay in projects.

6. Realty developers will have to maintain a separate bank account for every project to ensure funds raised for one project is not diverted.

7. It will be mandatory to keep 70% of the buyers' funds in a separate bank account to ensure timely completion of projects.

8. Developers cannot take more than 10% of the advance from buyers without a written agreement.

9. Builders will have to use photographs of actual site for advertisements purpose. Failure to do so will attract a penalty which may be up to 10 percent of the project cost.

10. Repeat offenders may land in jail.

MoneyControl

What basic questions to ask a builder at an introductory level before buying apartment or home? Chennai

I would like to know the type of questions to ask builders who are building new projects and are expected to be completed between 2013-2015. This checklist or a series of FAQ might help other people who are attending the FAIRPRO fair to compare and verify and validate the builders claims and where they stand.

1. Expected date of completion and area of project?
2. Current price per sqft ?
3. Is it CMDA approved?
4. Is it within Chennai Corporation limit?
5. Any dump yards/graveyards nearby the property?
6. Road infrastructure and if roads are wide (to check personally) .
7.what is the UDS?

8. Slums nearby.
9. Width of the approach roads
10. Neighborhood development
11. Nearest transport point

12. Drinking & ground water status & possibly reports
13. If its not a well known builder, you may want them to share details of their previous projects (for self inspection)

14.Carpet Area and Plinth Area details
15.STPI location

collected and sourced from i r e f forums postings.

LIC HFL Property Exhibition in Egmore Chennai July 13 to July 15 2012

India's leading housing finance firm LIC Housing Finance (LIC HFL) and other major builders and promoters have come together to come up with a new mega property fair in Chennai called Ungal Illam 2012, Mega Property Fair.

The venue of the fair is at Rani Meyyammai Hall and Raja Muthiah Hall at Egmore, Chennai. This expo is in association with builders like Hirco, Ruby Builders, Baashyaam, Urban Tree . Major builders and real estate companies are participating in this property show.  About  50 builders are in fact participating in this fair.
The Ungal Illam 2012 will be on from July 13, 2012 to July 15, (Friday to Sunday) 2012.  The timing being 10 a.m. to 8 p.m.  The entry for this expo is free.
Highlights of Ungal Illam 2012..!* Participation By leading Builders/promoters* 1000's properties to Choose* Luxury Houses* Affordable Dream HomesIf you are looking for a one stop solution for your property needs you can visit such fairs &  get to know about various projects and homes that are currently on at in and around Chennai.  If you are looking to buy a property you can visit such fairs to get the updates and even buy your dream house from them as you do not have to go around in places to find the same, but get it all done in one place and that too for free!

Expansion of SAGANA in Chennai - Sana Property Services - Sana Placement Services - Madurai, Trichy and Chennai

This is to inform everyone that we have got external funding to expand one of the divisions of Sagana Enterprises Private Limited in Chennai.

As you all know the current status of SAGANA - We have two divisions successfully running -
(i) Sana Placement Services and (ii) Sana Property Services.

Sana Placement Services operates in two divisions - Madurai and Chennai and as you know it is going well.
Sana Property Services currently operates in Madurai and Trichy and we wanted to expand to Chennai for a long time.

Sana Property Services Chennai will start functioning using this funding and will be worked out separately in accounts and mostly in operations.

An office is setup in Mount Road (main) for Sana Property Services Chennai, in addition to Sana Placement Services in Teynampet.

Sana Placement Services,
15/7, Hamid Centre, F1 Office, First Floor,
Babu Mudali Street,
Chennai.
Land Mark: Behind Sterling Towers.
Bus stop: DMS Bus stop.

Sagana Enterprises Private Limited,
Sana Property Services
#624, 4th Floor, Anna Salai (Mount Road),
Land Mark: Opposite USA Embassy, (Near Gemini Bridge)
Chennai - 6.

We are looking for human resources to start the operations. That will eventually happen full fledged by this month.

This is a great news to share in the company and also we would soon want to move the Sana Placement Services office in Chennai to a better office and also Madurai office to move to Commercial space.

Brokers/Mediators increasing the price of Real Estate Properties Land House Apartment in Madurai Trichy Chennai Tamil Nadu

Real Estate Market is totally in the hands of Real Estate Mediators (or in other unpreferred terms - Brokers) in the field. The mediator in the field has all the information in his area and knows about every thing in his area about buy or sell or rental or anything about the property.

The fast increase in the prices of the properties in Madurai, Trichy, Chennai, Coimbatore is basically because of these mediators. When asked for a price of property in his area, he/she automatically increases the price and tells - either for his benefit or for the seller's benefit.

If we can just sell at the price of normal rate or just at a reasonable hike, it will be good. But, these mediators completely change the picture and project it as if the prices are increasing.

But the danger is - if there is no improvement in the city and if the mediators keep increasing the price, then we have the problem of one day the prices bursting and coming down to a lower rate!

This article is sponsored by OruAcre.com.

OruAcre.com is a professional Real Estate company, which works for you and helps in your buying process in your city - say it is Madurai, Trichy, Coimbatore and Chennai.

Call 9789757930(Madurai) or 9994262942 (Coimbatore) or 9600658053(Chennai) or 7667601947(Trichy) or email oruacre@gmail.com to get help for buying your property.

NRIs having a under value in mind for Real Estate Properties in Tamil Nadu

NRIs are the ones who are otherwise called Non-Resident Indians and they have once gone out of India to earn in other currency and come back to India with much more wealth. Many are successful in that, but few are not successful. Few stay back in the immigrant country, since their lifestyle is set there in the foreign country itself. Anyway, those things apart - the point of the article is different.

Most of the NRIs who go out of the country, have an undervalue of Real Estate Properties in their mind. When they come up with the price or quote for the price of the land in their home country or home city or their native place, they ask it low, because they don't know the growth of Real Estate Market in their home land.

It is not their mistake, but NRIs usually have a picture in mind of the home land, which they left and they think only very less would have increased. But surprisingly, the prices and the market value have increased to the core. Even localites sometimes get surprised for the prices of the land.

This article is sponsored by OruAcre.com.
OruAcre.com is a professional Real Estate company, which works for you and helps in your buying process in your city - say it is Madurai, Trichy, Coimbatore and Chennai.

Call 9789757930(Madurai) or 9994262942 (Coimbatore) or 9600658053(Chennai) or 7667601947(Trichy) or email oruacre@gmail.com to get help for buying your property.

Purvankara Builder to be in Madurai within 5 years

Real estate developer Puravankara is eyeing the overseas market for expansion. The company's project in a foreign soil is coming up in Sri Lanka. The land was bought long time back, and the project was kept on hold due to various reasons.

In India, Puravankara is planning to reach out to 22 cities over the next five years. The company is planning to moot projects in Tiruchi, Salem, Madurai and so on among other locations.

House Available for Rent in Vadapalani, Chennai

Dear Viewers,

We have Individual House for Rent in Vadapalani, Chennai.

House Details:

Its located near to Ambika Hotel and Indian Bank. Very hot and fast moving Property in Chennai.

1BHK

Attached Rest Room

1 Hall

1 Kitchen

Rent Price: Rs.9000/-(Negotiable)

For more details please contact us:

Oruacre.com

8940039906, 9600658053

www.oruacre.com

oruacrechennai@gmail.com

Individual House for Rent in Teynampet, Chennai

Dear Viewers,

We have Individual House for Rent in Teynampet, Chennai.

House Details:

Near to fire station.

2 BHK (Attached)

1 Hall

1 Kitchen

Rent Price: Rs.13000/-(Negotiable)

For more details please contact us:

Oruacre.com

8940039906, 9600658053

www.oruacre.com

oruacrechennai@gmail.com

Documents Required for Home Loan Processing - OruAcre.com

Clear Documents and Information Required for Home Loan Processing in Chennai -

1) Salary-Credit-Balance-Bank-Statement Latest
2) passport-size-photo.jpg
3) driving-license-front.JPG
4) driving-license-back.JPG
5) PAN-card.JPG
6) voters-id-front.JPG
7) voters-id-back.JPG
8) Salary Slips - Latest
9) Office ID Card
10) Office Business Card

Office address
Asset Details current - House and Lands
Residential Address
Residence Address Proof
Cheque leaf for the processing fees
Reference Contacts - Name, Phone and Address


Common requirements for all applicants,

1. Application form duly filled in.

2. Copy of sanctioned plan and sanction letter.

3. Copy of NA permission/ULC clearance, wherever applicable.

4. One guarantor form and his/her salary certificate in our format. If guarantor is in business or profession, a copy of his/her latest I.T.return/assessment order.

5. Bank Pass-book or statements for the last two years.

6. Power of Attorney, wherever applicable

Additional Requirements - For salaried persons

1. Employer's salary certificate in our format/and latest salary slip.

2. Identity card of applicant/s.

3. TDS certificate of applicant/s.

4. PF/ESIS slip of applicant/s.

Additional Requirements -For Businessmen / Self-employed

1. Three years' income tax returns/assessment orders along with computation of income and statements of accounts certified by C.A.

Property Documents - In case of purchase from builder

1. Copy of Agreement for sale.

2. Copy of registration receipt.

3. Copies of receipts of payment already made.

4. NOC from builders.

Property Documents - In case of direct allotment in a Co-operative Housing Society by Public Agency

1. Allotment letter, Share certificate, Society Registration certificate.

2. Lease Agreement.

3. Public agency's approved list of members.

4. NOC from Public Agency in favor of LICHFL.

5. NOC from society

Property Documents - In case of Public Agency's allotment to individuals

1. Allotment letter from Public Agency.

2. Tripartite Agreement between the borrower, LICHFL and the Public Agency in the prescribed format.

Property Documents - In case of resale

1. Copy of all previous vendors' registered documents along with copy of your purchase agreement duly stamped and registered and the registration receipt wherever applicable

Sponsored by OruAcre.com

1BHK, 2BHK, 3BHK Flat for sale in Medavakkam, Chennai

Dear Viewers,

We have flat for sale in Medavakkam, Chennai.

House Details:

We have various types of houses as 1BHK, 2BHK, and 3BHK with Hall, Kitchen and common car parking.

Total sqft from 546 to 1583sqft. Starting budget from 20Lakhs to 54Lakhs

For more Details Contact:

Oruacre.com

8940039906, 9600658053

oruacrechennai@gmail.com

www.oruacre.com

Flat for sale in Chennai Medavakkam

Dear Viewers,

We have flat for sale in Medavakkam, Chennai.

House Details:

We have various types of houses as 1BHK, 2BHK, and 3BHK with hall, kitchen, common car parking.

Total sqft from 438 to 1488sqft. Starting budget from 18Lakhs to 52Lakhs

For more Details Contact:

Oruacre.com

8940039906, 9600658053

oruacrechennai@gmail.com

www.oruacre.com

Flat for sale in Medavakkam, Chennai

Dear Viewers,

We have flat for sale in Medavakkam, Chennai.

House Details:

Ground floor:

2 BHK house available at 964 sqft. Price Per sqft at 3675sqft.

2 BHK

1 Hall

1 Kitchen

Car Parking

First Floor:

1 BHK

1 Hall

1 Kitchen

Car Parking

2 houses at 474sqft which cost of 18 lakhs budget.

2 houses at 639sqft which cost of 25lakhs budget.

Second Floor:

1 BHK

1 Hall

1 Kitchen

Car Parking

2 houses at 279qft which cost of 19 lakhs budget.

2 houses at 699sqft which cost of 27lacs budget.

For more Details Contact us:

Oruacre.com

8940039906, 9600658053

oruacrechennai@gmail.com

www.oruacre.com

Flat for sale in Pallikaranai, Chennai

Dear Viewers,

We have flat for sale in Pallikaranai, Chennai.

House Details:

First Floor:

3 houses are available. Each at 810Sqft, 835sqft, 853 sqft. For all house Per sqft cost at Rs.3597/-. Each house has,

2 BHK

1 Hall

1 Kitchen

Common Car Parking

Second Floor:

3 houses are available each at 810sqft, 835 sqft, 853 sqft.For all house Per sqft cost at Rs.3597.Each house has,

2 BHK

1 Hall

1 Kitchen

Common Car Parking

For more Details Contact:

Oruacre.com

8940039906, 9600658053

oruacrechennai@gmail.com

www.oruacre.com

Yellow Homes.in New Apartments and Houses for Sale in Chennai - Chennai Real Estate

Yellow Homes.in

New Apartments and Houses for Sale in Chennai

YellowHomes.in (under construction - to be live by Dec 5th 2011) is a division of OruAcre.com, where it is dedicated only for new projects, new apartments, new houses in Chennai.

Today, Real Estate buying process is so tedious for an NRI or a Chennai Citizen, given the work pressure and busy schedule. YellowHomes.in will be a guide in the whole process of buying a new property in Chennai. You call us +91-9629557866 or email us OruAcre@gmail.com or come to our office with your idea of buying a property in Chennai. YellowHomes.in has tie up with all the major real estate providers in Chennai and we will help you, starting from which location is best for you and also give you a buffet of properties for you to choose from. Once properties are shortlisted under our guidance, we take you through site visits and explain you the advantages and disadvantages. Once you nail down on the property, we help you with Document Verification, Home Loan Application and till Registration and Legal Documentation of your property.

• Provide Requirements and Shortlist
• SiteVisits and Inspections
• Document verification
• Home Loan Application
• Registration and Legal Documentation.

All of the above services are ABSOLUTELY FREE for a BUYER who contact us and go through us.

YellowHomes.in is a division of OruAcre.com. Design Modified by Customer Satisfied Technologies. All under the umbrella of Sagana Enterprises Private Limited.

3BHK Apartment for sale in Old Perungalathur, Chennai

3BHK Apartment for sale in Old Perungalathur, Chennai

Dear Viewers,

We have Apartment for sale in Old Perungalathur, Chennai.

Apartment Details:

2 BHK

1 Hall

1 Kitchen

Dining Hall

Buildup Area: 1000sqft

Budget: 30 Lakhs

For more Details Contact Us:

Oruacre.com

8940039906, 9600658053

oruacrechennai@gmail.com

www.oruacre.com

Apartment for sale in Perambur, Chennai

Apartment for sale in Perambur, Chennai

Dear Viewers,

We have Apartment for sale in Perambur, Chennai.

House Details:

2 BHK

Dining Hall

1 Kitchen

Car Parking

Buildup Area: 1065 sqft

Price Details: 40 lakhs

For more Details Please Contact Us:

Oruacre.com

8940039906, 9600658053

oruacrechennai@gmail.com

www.oruacre.com

3BHK House for Rent in Iyyappanthangal, Chennai

3BHK House for Rent in Iyyappanthangal, Chennai

Dear Viewers,

We have House for Rent in Iyyappanthangal, Chennai

House Details:

3 BHK

Attached Rest Room

1 Hall

1 Kitchen

Car Parking

Rent Price: Rs.15000/-

For more details please contact us:

Oruacre.com

8940039906, 9600658053

www.oruacre.com

oruacrechennai@gmail.com

Individual House for Rent in Iyyappanthangal, Chennai

Individual House for Rent in Iyyappanthangal, Chennai

Dear Viewers,

We have Individual House for Rent in Iyyappanthangal, Chennai.

House Details:

2 BHK

Attached Rest Room

1 Hall

1 Kitchen

Dining Hall

Car Parking

Buildup area: 900sqft

Rent Price: Rs.10000/-

For more details please contact us:

Oruacre.com

8940039906, 9600658053

www.oruacre.com

oruacrechennai@gmail.com

2BHK Individual House for Rent in Velachery, Chennai

2BHK Individual House for Rent in Velachery, Chennai

Dear Viewers,

We have Individual House for Rent in Velachery, Chennai

House Details:

2 BHK (Attached)

1 Hall

1 Kitchen

Dining Hall

Car Parking

Rent Price: Rs.10000/-

For more details please contact us:

Oruacre.com

8940039906, 9600658053

www.oruacre.com

oruacrechennai@gmail.com