Real Estate Services
Buying a Property
Looking forward to purchase a property? It may be your first home or an addition to your properties. The process is daunting now that you do not have any experience or a pool of potential sellers. We have all that you need to succeed in your property-owning dreams. We assure you a smooth property buying process which reduces the chances of loosing money which is the greatest fear to many.
Selling a Property
Are you planning to sell your property? Well, you are at the right place. We negotiate a good selling price when possible client shows interest and also help in marketing the house or premises through our website which significantly reduces the market time. So, if you are wondering, ‘’ how do I sell my home quick?’’ then this is the option to take.
Pricing Your Property Correctly
Pricing your property correctly is most important for a smart sales process. We price your property accurately using our training, understanding of the market and comparable sales.
Pricing a property too high can cause major issues in the sale. Buyers may avoid it, and if they avoid the home long enough, it will develop a bad reputation. Eventually, you will be forced to drop the price to be competitive in the marketplace, but by that point, the bad rep will have stuck.
Counselling
Buyers find it challenging to shortlist suitable properties based on amenities, connectivity, budget and many other things.
A seller maybe selling property after many years and may not be aware of the correct valuation of their property. We counsel our clients in both cases.
Comparative Market Analysis
To make sure your property is fairly priced, a real estate market analysis should always be performed, before buying or selling. We conduct a CMA for you to determine what price to list when selling or a price to offer when buying a property.
Because no two properties are exactly the same, adjustments must be made to account for differences.
Marketing Your Property
The truth is that people will judge a book by its cover, especially when browsing through hundreds or thousands of listings. Bricks n Spaces markets your property in an appealing way that catches the eye of a person that’s sifting through countless listings in their area, however we ensure and advise on all the documentations and other protocols to be adhered by the seller according to the government norms.
Land Buying Protocols & Services
Buying a Non Agricultural or an Agricultural Land is a great asset to have as a Real estate as it may earn good yields to the Investors or a good decision on long term basis for an end user.
Some basic factors that one needs to keep in mind before buying properties include:
Bricks n Spaces verifies the authenticity of land ownership and we advise our clients, not to buy land which says proposed NA instead we always opt for land which has already been converted and further avoid schemes that ask you to pay now with the promise of conversion after about 3-4 years, BNS believes in adding value to your investment.
Bricks n Spaces verifies the Non Agricultural status. We understand that in Maharashtra, land is divided into two key segments agricultural and non-agricultural. Only farmers or whose parents are farmers can buy an agricultural plot while others have the only option to buy a NA plot. But the NA category in itself comprises of industrial, commercial or even vacant sub categories. An NA permit obtained for one cannot be used for any other purpose. Hence verifying the segment is very crucial and we help you do the same.
Bricks n Spaces verifies the Zone of the land in which the client decides to invest since a land in the forest or even in the penumbra region of a forest or a national park is a high risk investment. These are classified as G-zones. According to BNS the best way to ensure safety in these transactions is to look for `R-Zone’ which denotes demarcated for residential development.
Bricks n Spaces verifies the 8/A extract document as this comes in the form of a booklet and contains the details of Payments of Land Revenue tax, types of crop taken, owner’s name, etc. all about the targeted land.
Bricks n Spaces compares the village records & Block Plan as this helps the Client to see where the property is located. Comparing this with the documents given by the developer helps prospective buyers gain information about the authenticity of the deal.
LAND BUYING AND SELLING PROTOCOLS IN INDIA
Buying and selling land in India, is a significant undertaking, and understanding the protocols involved is crucial to a successful transaction. Whether you are an individual looking to purchase a piece of land for your dream home or a developer seeking to invest in a new project, it is essential to navigate the legal and regulatory processes effectively. Here, Bricks N Spaces provides he an overview of the key protocols involved in land transactions in India.
- Due Diligence:
Before entering any land transaction, it is imperative to conduct thorough due diligence. This includes verifying the title of the property, checking for encumbrances, and ensuring that the land is free from any legal disputes or pending litigations. It is advisable to engage a qualified lawyer or legal expert to assist in this process.
- Property Registration:
All land transactions in India must be registered to be legally valid. The property registration process involves presenting the property documents, verifying ownership, and paying the applicable stamp duty and registration fees. Registration is typically done at the local Sub-Registrar Office.
- Stamp Duty:
Stamp duty is a state-level tax imposed on property transactions, and rates can vary depending on factors such as the property’s location, type, and value. It is essential to determine the applicable stamp duty for your transaction and ensure timely payment to avoid legal complications.
- Encumbrance Certificate:
Obtaining an encumbrance certificate is crucial to verify that the property is free from any financial liabilities, such as mortgages or unpaid loans. This certificate can be obtained from the Sub-Registrar Office.
- Land Use and Zoning:
Understanding the land use and zoning regulations in India is vital, especially for developers. Ensure that the intended use of the land aligns with the local development plan and zoning regulations. Any violations can lead to legal issues and delays.
- No Objection Certificates (NOC’s):
Depending on the location and type of property, you may need to obtain various NOCs from local authorities. These certificates ensure compliance with building codes, environmental regulations, and other statutory requirements.
- Payment of Property Taxes:
Verify that all property taxes and dues are up to date before completing the transaction. Outstanding tax liabilities can become the responsibility of the new owner after the sale.
- Land Measurement and Survey:
It is common practice to have the land professionally surveyed to ensure accurate measurement and boundary identification. This can help prevent disputes with neighbors and ensure the property’s boundaries are well-defined.
- Environmental Clearances:
For certain types of land transactions, such as those involving environmentally sensitive areas, obtaining environmental clearances may be necessary. This is particularly relevant for projects with potential environmental impact.
- Title Transfer:
Once all the necessary checks and verifications have been completed, the title of the property can be transferred from the seller to the buyer through a sale deed. This document must be executed and registered at the Sub-Registrar Office.
Bricks N Spaces gives a systematic and well-informed approach for navigating land buying and selling protocols in India. We engage experienced professionals, such as lawyers, surveyors and other required vendors which greatly assist in ensuring a smooth and legally compliant transaction. Additionally, we keep he informed about changes in property laws and regulations is essential to staying on the right side of the law when dealing with land in India.
RENT AN APARTMENT VS BUY AN APARTMENT
The decision to rent or buy a property in Mumbai, or any other location, depends on various factors, including your financial situation, long-term goals, and personal preferences. Here are some key considerations for both options in the context of Mumbai:
Buying a Property in Mumbai:
- Ownership and Equity: Buying a property means he own an asset that can appreciate in value over time. He build equity with each mortgage payment.
- Stability: Buying offers long-term stability and can be a hedge against rising rents. He won’t have to worry about periodic rent increases.
- Tax Benefits: Homeowners in India can enjoy tax benefits, such as deductions on home loan interest under Section 24(b) of the Income Tax Act and deductions on the principal repayment under Section 80C.
- Customization: He have the freedom to customize and modify your property to your liking, subject to local regulations.
- Financial Commitment: Buying a property typically requires a significant financial commitment, including a down payment, loan repayment, property taxes, and maintenance costs.
- Market Volatility: Property prices in Mumbai can be volatile. While they can appreciate significantly over time, they can also fluctuate.
- Responsibility: As a property owner, he are responsible for all maintenance and repair costs.
Ultimately, the decision to rent or buy in Mumbai depends on your financial situation, long-term plans, and personal preferences. If he plan to stay in Mumbai for a significant period and have the financial means, buying can be a wise investment. However, if he value flexibility and are unsure about your long-term plans, renting may be a more suitable option. It’s essential to carefully assess your individual circumstances and consult with a financial advisor or real estate expert before making a decision.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. Bricks N Spaces does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.
Renting a Property in Mumbai:
- Flexibility: Renting offers more flexibility, allowing he to easily change locations or move to a different neighborhood or city as per your needs.
- Lower Upfront Costs: Renting typically involves lower initial costs compared to buying. He will need to pay a security deposit and monthly rent, but he won’t have to invest a substantial amount upfront.
- Maintenance and Repairs: As a tenant, he are not responsible for major maintenance or repair costs. The landlord typically takes care of these expenses.
- No Property Taxes: Property tax payments are the responsibility of the property owner, not the tenant.
- Lack of Equity: Renting does not build equity. He do not gain ownership or any potential appreciation in property value.
6. Limited Control: He have limited control over the property, as he must adhere to the landlord’s rules and may face restrictions on modifications.
BRICKS N SPACES SHARES THE BASIC REALESTATE LAND KNOWLEDGE, THE CLIENT MUST KNOW ON LAND TRANSACTIONS
Off Late, many announcements on the transformation of agricultural or non agricultural (NA) land into farm houses or weekend homes are doing the rounds. These proclamations are mostly directed to lure the NRI and expat community. Bricks n Spaces comes forward to assist the targeted buyers to make good investments without being cheated of their hard-earned money.
As per the Lands of Maharashtra Act, agricultural land is not meant for the development of weekend/farm houses. Transfer of agricultural land to a non-agriculturist is barred under Section 63 of the Bombay Tenancy and Agricultural Lands Act, 1948. Also, Section 65 states that the land can be taken over by the Government for management if it remains uncultivable for any two consecutive years.
Some of the Land in villages along the National Highway 3 (NH3) (Old & New) have been used to develop gated communities. These are either converted lands or those that are co-owned by the original owner for a certain long period. Development of villas and weekend homes has become a rampant process in todays time. However, several of these areas have witnessed disorganized development due to the mushrooming of independent developers resulting in uncoordinated planning.
For more information speak to one of our Real Estate Services team today on +91 9833399916 / +919004369204 or you can contact us on sales@bricksnspaces.com