Owning your dream home is now a lot easier!

The new government’s focus on housing sector has given a fresh lease of life to the real estate sector, which has been struggling under high interest rates and economic slowdown. The Reserve Bank of India has announced a series of measures to encourage lending to the housing segment, which falls under the category of priority sector lending.

Banks now have an avenue for raising long term funds via the 7 years bond to finance affordable housing and infrastructure projects. Home loans of upto Rs. 50 lac for houses of value upto Rs 65 lac in Metros, and loans upto Rs. 40 lac for houses of value of Rs. 50 lac in other cities will now be considered as affordable housing. This will make it easier to get loans in this price range and also you will be entitled to a lower rate of interest. As per former State Bank of India chairman Pratip Chaudhari interest rates on new home loans might fall by 40-50 basis points (0.5 percent). A back-of-the-envelope calculations shows that a 50 basis point drop in interest rate on a Rs. 50 lakh loan for 20 years will bring down EMIs by over Rs. 1,700 per month. Additionally, the increase in interest tax deductibility on home loans from Rs. 1.5 lac to Rs. 2 lac and Rs. 2.5 lac to Rs. 3 lac for senior citizens reduces your tax bill.

Here is what our leaders had to say:

 

 

Beyond building homes – Water Management

SARE Homes is committed to build a sustainable environment for its customers. Other than developing qualitative infrastructure and amenities as well as offering spacious homes and upgrading people’s lifestyle, the team at SARE Homes aspires to build a green and livable community.

The company supports Climate Change initiatives. It designs and develops its projects to promote energy efficiency and green building concepts proposed by Indian Green Building Council (IGBC). SARE has adopted some of the latest eco-friendly technologies like rainwater harvesting, energy management, waste water management and material management.

Water shortage is an increasingly common concern among the masses and is heightened by a couple of factors like global warming and population increase. So our strategic approach to water management includes rainwater harvesting and waste water management. Both these techniques have helped us make optimum use of natural resources and save upto 50% on costing. This has also created an impact on our future developments and made our team and customers more responsible towards the environment at large.

Repo rate raised by 25 bps to 8 percent by RBI

In a bid to strengthen the rupee, Reserve Bank of India Governor Raghuram Rajan raised the key repo rate on Tuesday (Jan 28th, 2014), the third time since the September of last year when Mr. Rajan had taken over as the governor. And the Indian currency has already shown a sharp recovery since the policy announcement.

However this meant that he made a choice to confound expectations in order to renew focus on inflation. Mr. Rajan is of the view that the value of the rupee faces a major risk from the CPI (consumer price index) inflation, which is already elevated at close to double digits, despite the predicted disinflation in vegetable and fruit prices. He also claimed that the main target of the RBI is that they want to bring the inflation down so that it will present them with some room on the monetary front which could then be passed on.

The repo rate, which is the rate at which banks borrow short-term money from the RBI, was raised by 25 basis points, i.e. 0.25 percentage point, to 8 percent. The reverse repo, the rate at which the RBI borrows from banks, was raised 25 basis points to 7 percent. And in order to maintain the balance, the marginal standing facility, the penal rate of interest for banks was raised 25 basis points to 9 percent, while the cash reserve ratio was maintained at the initial 4 percent.

David Walker, Executive Director, SARE Homes shared his view on this change, “The repo rate increase is designed to reduce India’s persistently high inflation and also provide support to the currency. This will adversely affect demand in the short term, which is of concern given the slowdown in growth, but is required to for price stability which brings with it higher medium to long-term consumption and investment”.

Why you should buy property in Singaperumalkoil, Chennai GST

According to a recent article published on MagicBricks.com, Singaperumalkoil in Chennai GST is the best destination to invest & buy property.

With metropolitan and primary locations almost saturated, the demand-supply is rapidly shifting towards new areas – the developing areas. Like saturated Delhi has given rise to NCR, Mumbai to Bandra and beyond, similarly Chennai has started expanding its horizon with demand shifting its focus on developing areas, like Singaperumalkoil off the Grand Southern Trunk (GST) road. And with these areas growing on the back of industrial influx, Chennai has for the first time emerged in the top 25 real estate destinations list in the Asia Pacific region, according to a recent PWC survey.

Singaperumalkoil is an upcoming location that is witnessing prolific development. There are several valid reasons to justify the rapid growth. In the last three years this region has grown as a major automotive and IT hub. While Mahindra World City and Ford’s presence has brought the vibrancy in the area, IT companies like Capgemini, Dell India and Infosys have helped flourish business activity. This has resulted in the infrastructural development in and around this place.
Secondly, the Sriperumbudur-Singaperumalkoil stretch is being heralded as the roads of the future. This particular stretch directly feeds into the big industrial corridors. On top of that, it merges with the Grand Southern Trunk road, a part of NH-45, which is the lifeline of Chennai.
Thirdly, this particular stretch, because of the heavy surge in traffic, is being 6-laned. This reflects the growing potential of the adjacent area which has been duly recognised by the developers. Accordingly, leading realty players like SARE Homes and others have focused on developing their projects in strategic locations in the vicinity of the GST. In fact SARE Homes has created a 62-acre integrated township that provides an eclectic lifestyle to aspiring home owners. And the fact that it is just off the main GST road, it aptly fits into the whole scheme of things.

To read the complete article, click here.

 

SARE Homes Launches ‘Shreyas Villas’ at Singaperumalkoil, off GST in Chennai

SARE Homes, a FDI real estate developer with integrated residential townships across India, has announced the launch of its new project ‘Shreyas Villas’, in Singaperumalkoil, off GST, Chennai.

These are independent villas that give the buyers a ‘space’ of their own – an independent plot with no question of wall sharing. Built inside a serene 62-acre township called SARE MeadowVille, these villas also enable owners to expand the living space at a later stage, making it a highly innovative product. The expandable factor helps the owners to actually reduce the purchase price and save considerably on the initial outlay.

SARE MeadowVille, the township off the Grand Southern Trunk Road not only caters to lifestyle needs of prospective home owners, it also maximizes the value of their investments. How? SARE MeadowVille is strategically located with the automobile and IT hubs of Ford and Mahindra World City nearby with the industrial hub of Oragadam in the vicinity.

GST itself is a part of NH-45 which is the core transportation infrastructure that connects Chennai. With 6-laning of the road being planned, this essential highway links Chennai to the airport and to its suburbs. With major automobiles and IT corporations coming up, GST is opening up massive employment opportunities with increasing SEZs and various townships.

In keeping with the contemporary ethos of ensuring an environment-friendly project, all SARE Homes townships are IGBC certified.

SARE MeadowVille has all the modern, high-end amenities like 24/7 power back-up, round-the-clock security, a 20,000 sq.ft. Club house with 3 swimming pools, state-of-the-art gymnasium, health club, jogging track, aerobics & yoga, 2 badminton courts, indoor games room for snooker, carom, coffee shop and a banquet hall.

Commenting on the occasion, David Walker, Executive Director, SARE Homes, said, “Shreyas is another jewel in our crown of innovative developments. These exclusive villas provide owners with an independent plot and no wall sharing. We have received an overwhelming response from the Chennai market as well as industry recognition to both our townships in GST and on the OMR, and are excited to bring new products to Chennai. ”

Vineet Relia, Chief Operating Officer, SARE Homes, further added, “Shreyas is an emblem of SARE Homes’ image of a genuine real estate player who caters relentlessly to provide the best to its customers. It is quality that buyers look for when they come to SARE, and it is quality that we deliver.”

SARE Homes supports amfAR’s Inaugural India Gala

SARE Homes is proud to support amfAR, the American foundation for AIDS research at the Inaugural amfAR India Gala held at Taj Mahal Palace Hotel in Mumbai on 17 November, 2013.

Mr. Anuj Gupta Chairman SARE Homes and Event Chair of amfAR India was instrumental in bringing amfAR to India and has sponsored and supported this noble cause for the last three years. The amfAR Global Fund raising Chairman Sharon Stone along with Hilary Swank, Aishwarya Rai Bachchan and Abhishek Bachchan addressed the more than 300 guests in attendance. The other event chairs were Cyrus Poonawala, Kenneth Cole and Rocky Malhotra.

The black-tie event featured a gold themed fashion show by Rohit Bal, Tarun Tahiliani , Abu Jani and Sandeep Khosla.
Other notable guests included Neeta Ambani, Venugopal Dhoot, Lisa Haydon, Dimple Kapadia, Parmeshwar Godrej, Nargis Fakhri, Sonal Chauhan, Torquhil Campbell, Duke of Argyll, Dino Morea, and Nandita Mahtani, among many others. The evening concluded with a high-energy performance by pop sensation Ke$ha.

A checklist for buying your dream house

Buying a home is a decision for life. And if you’re buying a home for the first time, there could be a lot of jargons and terminology that could prove dauting. Below are a few list of questions / issues one needs to look into before investing or taking that big decision of your life.1. What’s the land use?
You need to check the land use of the property on which the project is being developed i.e. whether the land is being developed for residential or commercial purpose. Ask for a proper licence of the property from the developer.

2. Has land acquisition been completed?
Often, developers start selling apartment before acquiring the land. You need to check the official docs of land acquisition before committing your savings to the developer.

3. Does the developer have legal title?
You could hire a lawyer for conducting the title search. A unique khasra number is alloted to every property. Ask the developer to show you the papers demonstrating his ownership of the property and check in the registration name and number. With the help of lawyer, you can also find out if there is are legal disputes happening over the land.

4. Are all approvals in place?
Other than property licence, check whether the developer has received the following approvals: building plan, water, environment and pollution, and height clearance (if the building is situated near an airport).

5. Estimated date of project completion
Often, the project is completed within a certain period, say, 36-42 months from the start of construction. Get a written doc from the developer stating the date the construction will start.

6. Is there a Penalty Clause?
If there are any delays in handing over possession, the developer has to pay a penalty to the buyer, provided the penalty clause is there in the builder-buyer agreement.

7. Any extra charges involved?
The developer often collects preferential location charges (PLC), external and internal development charges. Find out if there are any hidden costs involved. Ask the developer for a written assurance stating that no further charges will be levied.

8. Developer’s  Track Record
Do your homework properly. Do a complete study on the background and past projects of the developer. Try and avoid novices as they usually lack the financial strength to weather a downturn. Have a word with residents of earlier projects to find out if the developer delivered the possession of the apartment on time. What were the on-campus facilities and the specifications promised within apartments? How well is the project maintained? In case of an under-construction property, visit it with a civil engineer and have him evaluate its construction quality.

It’s important to understand these factors before you make a commitment to the developer and buy your dream home. At SARE Homes, we offer our customers with top quality assurances like transparency in all dealings, higher efficiency of space utilization, quality of material, established architects and contractors, professional management and personalized customer service.

Know more here.

SARE Homes basks in realty awards glory

We at SARE Homes truly believe “Next to excellence is the appreciation of it”. It gives us immense pride to share with you a whole new set of awards added to our ‘Hall of Fame’.

SARE Homes won accolades at Assocham India Real Estate Excellence Awards, Observer Dawn IRA (Indian Realty Awards) and Silicon India Chennai Real Estate Awards 2013. The company gained recognition in these events and even stood out as a premium, eco-conscious developer.

Below is the list of awards:

– ASSOCHAM India Real Estate Excellence Awards:

Best residential property in Gurgaon

– Observer Dawn IRA (Indian Realty Awards):

Realty Mogul of the Year – SARE Homes
Best Project of the Year (Residential) – Club Terraces
COO of the Year – Mr. Vineet Relia
Best Media Campaigner of the Year – Ms. Divya Pall

– Silicon India Chennai Real Estate Awards 2013:

Integrated Township of the Year South Chennai – SARE Crescent ParC, OMR
Environment Friendly Project of the Year South Chennai – MeadowVille

We continuously strive to deliver excellent quality and services to our customers and help them build their own dream home.

Property Tax brings major relief to property owners

The Haryana government has rationalised Property Tax rates on buildings & land in areas under municipal corporations and simplified the calculation formulae in the state.

Earlier, property tax was calculated on the basis of Collector Rates based on current market price and with the annual increase in collector rates, the total amount of tax would increase. The high rate of property tax in major cities like Gurgaon, Faridabad and Panchkula, bothered people, forcing the government to rationalize the property tax.

The new property tax is based on the size of residential and commercial property. A slab system is set to be adopted for the property tax on industrial and commercial properties.

As per the new regulation, all the municipal corporations will be categorised into two categories, A-1 cities with municipal corporations of Gurgaon and Faridabad and A-2 cities comprising of Ambala, Panchkula, Karnal, Panipat, Rohtak, Hisar and Yamunanagar.

The owners of residential properties of up to 300 sq yard in A-1 cities, would have to pay Re.1 per sq yard. Whereas, the other four categories of sizes from 301 sq yard to more than two acres would have to pay between Rs. 4 per sq yard and Rs. 10 per sq yard respectively.

The rate for commercial space of upto 1,000 sq yd would be Rs 12. per sq yd and for more than 1,000 sq yard, it would be Rs. 15 per sq yard.

Certain areas like religious places, orphanages, alm houses, municipal buildings, cremation/burial grounds would be exempted from payment of property tax.

Source:
http://zeenews.india.com/business/realestate/latest-news/haryana-government-rationalises-property-tax_86084.html
http://www.indianrealtynews.com/real-estate-india/gurgaon/govt-mulls-major-relief-in-property-tax.html
http://www.saharasamay.com/lifestyle/real-estate/676540444/haryana-notifies-property-tax-in-gurgaon-and-other-cities.html

SARE Homes Launches ‘Club Terraces’ at Sector 92, Gurgaon

Homes for the luxury conscious

• An iconic 19-storey luxury tower with VRV air-conditioning overlooking Gurgaon’s finest 35,000 sq. ft. club
• Luxury amid 7 acres of greens – with large private terraces, luxurious lobby and more
• Part of a 48-acre integrated township

SARE Homes, an FDI developer of residential integrated townships across India, has announced the launch of its new project ‘Club Terraces’ in Sector 92, Gurgaon.

SARE Homes plans to develop this iconic 19-storey tower that will overlook the SARE club, which will be the largest and finest club in Gurgaon, set amidst 7 acres of lush, breathtaking greens.

Club Terraces offers 3 and 4 BHK apartments with VRV air-conditioning and has been exclusively designed with 3 sides open, large private terraces and French windows. Other amenities like a spacious 8,000 sq ft (743.21 sq mtr) guest lobby, recreational facilities and servant quarters having separate entrances make for a luxurious experience like never before.

Club Terraces is unique because it overlooks a lush 7-acre green and the fact that its residents can enjoy the SARE Club. At 35,000 sq ft, the SARE Club will be Gurgaon’s largest and finest club, and has lavish offerings, like the clubhouse lobby, 4 swimming pools, modern gymnasium, indoor heated pool, billiards and table tennis room, restobar, dining lounge, library lounge, banquet hall and party lawn.
Club Terraces is part of a 48-acre integrated township that is positioned on the 60m arterial road and offers excellent connectivity. It lies on the Gurgaon growth corridor, with easy connectivity to Delhi via the expressway, metro rail and bus, and is a short 40min drive to the IGI airport.

The township itself has all amenities like shopping facilities, nursery, primary, high school, 24-hour power back-up, club house, medical facilities, adequate water supply, rain-water harvesting, organized basement/ open parking, 24-hour security, wide well-lit metalled roads and landscaped greens.

Commenting on the occasion, Mr. David Walker, Executive Director, SARE Homes, said, “After selling more than 2000 homes in our Gurgaon township, and receiving recognition by way of Industry Awards on a pan-India level, we are delighted to launch Club Terraces, homes for the luxury conscious.  SARE has a strong balance sheet and its assets in India are valued at Rs. 3,200 crores with nominal leverage. The fund’s equity is held by global institutional investors like Forum Partners and Goldman Sachs Principal Strategy (GSPS) Asia Ltd. The scale of our business will enable us to deliver best in class service to our customers and commit the resources to ensure on time delivery of our projects.”

Mr. Vineet Relia, Chief Operating Officer, SARE Homes, further added, “It gives us immense pleasure to launch Club Terraces, 3 & 4 BHK air conditioned homes offering a luxurious lifestyle. These homes have expansive 30 feet verandahs and are packed with amenities such as VRV air-conditioning and access to the SARE Club, which is set amid 7-acres of lush greens. Our Gurgaon township is strategically located on the main 60 meter road, very close to the IGI airport with easy connectivity to Delhi.”

Know more about this property here.