HSB Estate - Pioneers in Real Estate Services

The year 2011 had witnessed quite a few developments of far reaching importance such as the land acquisition agitation that occurred in Noida Extension, rising costs of construction and debt servicing. On the brighter side, there was ray of hope when the Ministry Of Housing and Urban Poverty Alleviation proposed a regulatory bill for real estate sector in the country and there were prominent high rise project –launches which were earlier kept in abeyance.rnThe Indian Real Estate Sector started making its mark around the period 2000 onwards which also witnessed a new phase of growth for domestic and multinational corporations in India. Thus there was synchronization of the growth of the sector with the increasing requirement/ expansion of multinationals. Their role as service providers made the real estate sector adopt a more professional way of functioning.rnThe services in this industry include an array of activities such as professional services like consulting, advisory ,valuation for clients ,brokerage transactions which form a very large revenue component and property/facility management as well as other specialized property services Real estate Industry has flourished rapidly in India having been propelled by strong demand drivers and important transformations such as increasing transparency and professionalism , improved product quality and service standards etc. At the same time the Indian market also has its own share of risks and hurdles.rnA good deal of paper work and scanning are involved in sale /purchase/leasing of residential, commercial, industrial, institutional and IT’s space .Buying of residential/industrial property in particular requires due diligence which cannot be carried out without professional guidance . That is why we at HSB Estate come in.rnHSB is a Delhi NCR based real estate company which provides economical real estate solutions. It has a distinct reputation in the residential and commercial real estate services .HSB treasures its association with all the notable brands in the real estate development like Jaypee Greens Noida, 3C’s, Unitech and other renowned developers. Its young and highly professional cadres work hard towards developing a very satisfied clientele base. The rapid success and customer care relationships it savours are attributed to the long term vision of its present CEO who has an array of additional services in the pipeline as and when the need arises. rnOwning a house is the biggest dream of the Indian middle –class .A house is the biggest investment that a person makes in his life. He has to part with a significant portion of his life-time savings for this purpose. If he takes a loan to acquire it, the repayment period often covers a greater part of a person’s working life. Thus buying a house requires informed decision making.rnThe average age of an Indian buying a home has come down to 31 from 42 years. A combination of factors such as low home loan rates, income tax breaks and rising incomes have contributed to this.rnSearching for a perfect home can be quite daunting without professional guidance especially when it is not readily available. One has also to contend with unscrupulous practices of agents and brokers. Buyer protection laws and compliance mechanisms are also inadequate in India.rnThe lure of buying a home has always existed in India and more so in recent times.rnThere is a reason that makes house purchases a financially attractive option. The level of inflation has been significant in recent years. Also a considerable demand-supply gap exists in the housing sector. As such a house is bound to appreciate in value with time .Real estate investment is considered a good hedge against inflation. rnThe year 2012 promises to be a good period for the sector. Experts predict a robust demand both in the residential and commercial segments. Much needed relief is in the offing with the markets settling down, rising consumer demands and steps taken by the government to reduce inflation .The projects earlier on hold in the Delhi NCR region are being revamped by the developers in the residential sector. The weak domestic economic indicators are pointers to continuing subdued commercial segment. Some improvement is likely in leasing activity.rnExperts believe the reality regulation bill would not only make the process simple for developers but would also benefit the buyers alike. The draft real estate (regulation and development)bill 2011 seeks to establish a regulatory mechanism to enforce disclosure, fair practice and accountability and to provide adjudication machinery for speedy dispute redressal . The parliament would make laws on matters related to transfer of property other than agriculture land; registration of deeds and documents and contracts including special forms of contract. Currently the real estate and housing sector is largely unregulated and opaque with consumers often unable to procure complete information or enforce accountability against builders and developers in the absence of effective regulation. rnEstablishment of a Real Estate Regulatory Authority in each Estate stipulates mandatory registration of developers/builders who intend to sell any immovable property with the Authority as a system of accreditation. It also makes public disclosure norms for all registered developers mandatory. There is also provision inter-alia for obligation on the part of promoters to adhere to approved plans and project specification and to refund moneys in cases of default. rnLet us hope that the bill when it is implemented would live up to the expectation of general users of real estate services. rnThe Parliament is likely to give its approval to Finance Ministry’s proposal to raise the tax exemption limit. Home owners paying EMIs and those seeking home loan will soon have tax exemption limit raised to Rs 3 lac per annum from the current Rs 1.5lac. This will leave them with more disposable income and boost spending on housing. This definitely counts well to supplement housing demand in the country along with provisions of the regulatory bill. HSB