Badlapur....a city for the dreamers...

Buying a residential apartment with natural beauty and serenity, far away from pollution is a dream for every aspiring individual in the city. At the time when real estate prices have undergone correction, Badalapur with its scenic environs and affordable pricing can bring the home buyers dream come true.

Badlapur, once upon known a sleepy town on the outskirts of Thane till some time ago, has witnessed considerable development as far as the infrastructure is concerned in the recent past. The town has emerged most preferred residential destinations. Due to its proximity to the upcoming Panvel- Badlapur highway, Metro connectivity via Thane, Badlapur is expected to absorb the future growth in population, business and commercial activity in the region.

Badlapur- a secluded area a few years back- is today bubbling with activities and has come upto be a sought after area in Badlapur, which has a population of around two lakh, has recently picked up demand due to its growing infrastructure and the upcoming real estate projects in this area.

Badlapur is being speedily developed with modern infrastructure including basic civic amenities like schools, banks, hospitals, Municipal Corporation, post office, water supply office and the market nearby. With so much of economic development taking place, this is the right time to buy a home or invest in real estate market in Badlapur, before it soars higher.

There are two major factors contributing in the geographical spread of Badlapur, one is rising population while another being preferred destination by the salaried class people who have been shifted to this town from the overcrowded Mumbai city in the recent past.

Many families from the prominent localities of Mumbai such as Dadar, and Bombay Central have shifted to Badlapur, after their old dilapidated chawls gone in for re-development. People found spacious flats at Badlapur from the compensation they received as a part of their settlement, says locals.

Considering the facts of rising population of Badlapur and the future growth potential of this township, several prominent developers from Mumbai lined up their construction projects in Badlapur. Prominent among them is Mohan Group. The group was the first to introduce hi-tech construction equipment to undertake its construction activity in a small town like Badlapur.

With so much of economic development taking place, this is the right time to buy a home or invest in real estate market in Badlapur, before it soars higher.

For more information call: 75075 76000.

Draft Real Estate (Regulation & Development) Bill 2011

30th November 2011, Hotel Sea Princess, Mumbai | Timings: 2pm – 6pm

Overview of the Conference:

The Draft Real Estate (Regulation & Development) Bill, 2011 seeks to establish a regulatory oversight mechanism to enforce disclosure, fair practice and accountability norms in the real estate sector, and to provide adjudication machinery for speedy dispute redressal. This Act is in pursuance of the powers of Parliament to make laws on matters enumerated in the Concurrent List namely, transfer of property other than agricultural land; registration of deeds and documents, and contracts including partnerships, agency, contracts of carriage, and other special forms of contracts, but not including contracts relating to agricultural land.  The Bill is expected to ensure greater accountability towards consumers, bring transparency and fairness in transactions and reduce frauds and delays significantly. The Bill is also expected to promote regulated and orderly growth through efficiency, professionalism and standardization. It seeks to ensure consumer protection, without adding another stage in the procedure for sanctions.

This Conference aims to bring together senior experts from the Real Estate Industry to discuss and debate the benefits, legalities and efficacies of this bill.  According to Union Housing and Urban Poverty Alleviation Minister Kumari Selja, they are hopeful of introducing the bill during the winter session of Parliament. Hence this conference hopes to open up the Pandora’s box, demystify the myths and open a channel of discussion among the Real Estate Fraternity. Our team of distinguished speakers will not only provide their valuable insights but also address concerns of the real estate fraternity.

Who Should Attend:

Ø  Real Estate Developers / Promoters

Ø  Project Developers / Construction Companies

Ø  Legal Heads / Law Firms

Ø  Investment Heads / Bankers

Ø  Finance Professionals

Ø  Consultants / Advisory Firms



Agenda & Confirmed Speakers: 30th November 2011

Session 1: 2pm – 2.35pm

Transparency in Land Selling: What does a Developer need to do

·         Enforcing disclosure, fair practice and accountability norms

·         Builders Registrations with the Real estate regulatory authority

·         Disclosure of Construction as per approved plans

·         Setting up escrow banking accounts , Provision of refunds to homeowners

·         Inviting Bookings and Advances


Q&A for the Delegates

Speaker: Mr Niranjan Hiranandani* - Hiranandani Constructions

 Session 2: 2.35pm – 3.10pm

Real Estate Regulatory Authority & Appellate Tribunal

·         Legal Implications of the Bill

·         Powers & Functions of Regulatory Authority

·         Powers & Functions of the Appellate Tribunal

·         Offences and penalties


Q&A for the Delegates

Speaker: Advocate Anil Harish – D M Harish & Co.

 Session 3: 3.10pm – 3.45pm

Registration with the Regulator & Its Compliances

·         Formalities of Registration as Developers

·         How to get the Project Listed / Website of the Regulator

·         How to get Redressal if Regulator refuses Registration

·         Construction Compliance as per Regulatory norms

·         Obligations of Promoter


Q&A for the Delegates

Speaker: Mr Ramesh Prabhu – Maharashtra Societies Welfare Association


Session 4: 4.15pm – 4.40pm

Foreign Direct Investment: How the Bill helps bring in FDI

·         Global scenario of similar bill: challenges faced, benefits reaped.

·         How does regulation attract foreign Direct Investment

Speaker: Sr Financial Expert from Private Equity Company, TBA


Session 5: 4.40pm – 5.15pm

Statistics & Analytics: Present to the Future

·         Current Real Estate scenario

·         Impact of the bill

·         Will the future be a ‘silver lining’ or ‘Chakravyuh’


Q&A for the Delegates

Speaker: Mr Pankaj Kapoor – Liases Foras



Session 6: 5.15pm – 6pm

The Balancing Act: PANEL DISCUSSION & Questions from the Audience

·         Appeasement of the Primary market , no check on secondary market!

·         Will this regulation lead to more corruption?

·         What more needs to be regulated?

·         Are the Developers being given a fair deal?

Investment procedure for "NRI"

 Who is a non-resident Indian (NRI) ?
An Indian citizen who stays abroad for employment/carrying on business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a non-resident. (Persons posted in U.N. organisations and officials deputed abroad by Central/State Governments and Public Sector undertakings on temporary assignments are also treated as non-temporary assignments are also treated as non-residents). Non-resident foreign citizens of Indian origin are treated on par with non- resident Indian citizens (NRIs).

Who is a PIO ?
A person of Indian origin means an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan) who:
Held an Indian Passport at any time, or Who or whose father or paternal grandfather was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955.

Who can purchase immovable property in India ?
Under the general permission available, the following categories can freely purchase immovable property in India:

• Non-Resident Indian (NRI) - that is a citizen of India resident outside India
• Person of Indian Origin (PIO) - that is an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan), who at any time, held Indian passport, who or either of whose father or grandfather was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955)

 The general permission, however, covers only purchase of residential and commercial property.

Can NRI’s sell the properties they hold in India without reserve Bank’s Permission ?
Yes.

Can NRI’s Acquire or Dispose residential property by way of gift ?
Yes, the Reserve Bank has granted general permission to NRIs to acquire or dispose of NRI India Properties by way of gift from or to a relative who may be an Indian citizen or a person of Indian origin (PIO) whether resident in India or not.

Can NRI’s Acquire Commercial Properties in India ?
Yes, under the general permission granted by the Reserve Bank, property other than agricultural land/farm house/plantation property can be acquired by NRIs provided the purchase consideration is met either out of inward remittances in foreign exchange through normal banking channels or out of funds from the purchaser's NRE/FCNR accounts maintained with banks in India and a declaration is submitted to the Central Office of Reserve Bank in form IPI 7 within a period of 90 days from the date of purchase of the property/final payment of purchase consideration.

Can NRI’s obtain loans for acquisition of a House / Flat for Residential purpose from Financial institutions providing housing finance ?
The Reserve Bank has granted some general permission to certain financial institutions providing housing finance e.g. HDFC, LIC Housing Finance Ltd., etc, and authorized dealers to grant housing loans to NRI nationals for acquisition of a NRI house/flat for self-occupation subject to certain conditions. Criteria regarding the purpose of the loan, margin money and the quantum of loan will be at par with those applicable to resident Indians. Repayment of the loan should be made within a period not exceeding 15 years, out of inward remittance through banking channels or out of funds held in the investors' NRE/FCNR/NRO accounts.

For more investment opportunity in India call: 75075 76000.