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Pandemic Covid-19 Lockdown and buying RERA Projects

7/13/2020 3:23:00 PM

It seems Pandemic Covid-19 will not stop until medicine found and now we have only precautions which will help us to live.It is creating catastrophe globally.Covid-19 and Lockdown have changed people prospective towards their life.Pandemic Covid-19 has succeeded to stressed out on social Infrastructure,Huge health infrastructure is one among other social infrastructure which has vital importance for healthy economy Covid-19 proved practically how citizen's good health bridging the gap between Country's economy and its growth. During the epidemic,people's different faces have been seen, tenants and paying guests were being harassed by Landlords, reports said.Corona spread was becoming dangerous and misconceptions over pandemic and other rental issues were forcing landlords but to evacuate rented accommodation. Where some were doing inhumanity meanwhile, many volunteers came to help others to provide covid 19 safety gadgets and many were came to feed hungry.Animals too were not deprived from humanity. The days of lock down seem worse when the house is not even yours.Pandemic Covid-19 Lockdown forced us to think about our own home,where,we can care our self and our loved one's by giving them hygienic place called home and let our family corona free. Owning Home is everyone dream and Covid-19 spread has been succeeded to convert dream into times need.In india residential demand is on boom and NRI,s real estate demand kept pace in their home town,reports said. Home is a peaceful and secured place, where we feel comfortable and enthusiastic.We can do what we want to do.In your own home, you are the only who can make and break the rule, nobody can instruct you to do this and that,However, EMI's are being paid, if you took home loan,but it will not disturb your mental peace because EMI,s are giving you ownership and once EMI finishes it will become your tangible asset.Means you can enjoy your asset since buying your dream home. Fortunately, RERA and PMAY are two among other are working like demand booster to encourage residential demand, and low interest home loan is working like catalyst into it. RERA empowers buyer,earlier,buyer's property buying decision was hit in the absence of RERA but now seeing in upward trend in residential property it seems RERA has been successful to bring confidence in residential market even in pandemic corona virus lockdown. What is RERA? RERA stands for Real Estate Regulatory Authority.It aimed at protecting the interest of property buyer in real estate sector and to establish an arbitrating mechanism for speedy dispute redressal.Project delivery delays, property pricing, quality of construction, title and other changes are the issues that RERA regulates and addresses in an efficient and transparent manner. RERA empowers both Builder or Developer and Buyer,as most of the things were favoring Builder. RERA brought many norms that will protect buyers from unfair builders malpractices. Takeaways of RERA Standardized Carpet Area Earlier the carpet area on which the property price calculated was not defined.Every builder/developer had their own method of calculation of the carpet area.Means for the same property the builder would calculate the carpet area of 1400 sq ft and the other would calculate the carpet area of 1500 sqft ,Hence there was no parity in carpet area in the absence of RERA.However,this has now been defined by the RERA Act,and the same formula would be applied by all builders/developers for the calculation of the carpet area. Subsequently, it will impact property prices as price calculates on the basis of the property carpet area.Builders compute the price of the property as follows: Cost of the property=Carpet Area x Rate per sq ft Rate of Interest on default Earlier,In case of default on payment by the buyer ,the interest to be paid by the builder to builder was higher on the contrary if builder delays the possession of property ,the interest to be paid by the builder to the buyer was less.Means there was no parity in the interest to be paid for both parties. RERA defines the interest to be paid by both parties will be the same for both parties.RERA has been successful to bridge the gap between two. Reduces the Risk of Builder Insolvency/Bankruptcy Usually A builder has many projects to be built which have to build simultaneously.Earlier,Builders were free to divert the fund raised from Project A to fund the construction of project B. Now,This would not be possible as RERA defines norms which help to reduce the risk of Builder Insolvency .According to RERA,the builder is liable to deposit 70% of the amount realized in for the project in a separate bank account.Builder can withdraw from such account only on the basis of completion of project,which will be certified by a civil engineer,architect and a chartered accountant in practice. Compensation over False Promises RERA empowers buyers,If there is mismatch over builder commitments and actual property,the buyer has an option to withdraw from the property,RERA ,buyer is entitled to full refund of the amount paid as advance or otherwise along with interest and claim compensation. Right to information The buyer will be entitled to have all the information related to the property,layout plan,execution plan,stage wise completion status etc. Chandigarh

Pandemic COVID-19 effects and changing market trends

7/3/2020 10:34:00 AM

COVID-19 is spreading across the globe and unfortunately it became dangerous right now. World Economy is facing its worse impact although medicine or vaccine found news give some relief to many of us.While Pharmaceutical companies are finding its medicinal solution, people are busy to take care of themselves by boosting their immune system.Currently health food companies are engaged to advertise their products as immunity booster.In the same way sanitizer,soap,antiseptic liquids,hygiene and sanitation market Segment are on boom mode.Real Estate is one among others which placed itself from the negative economic impact.Very well said "Victory comes from finding opportunities in problems". shelter is an important ingredient of safely and Security. Lockdown made us realized us how home protect us from invisible virus.Many reports claimed rising residential demand.It is pleasure to be a home owner these days, as in Covid-19 days tenants and paying guests faced many problems said news sources.Ownership Title makes us feel Independent and confident and but obvious secure and safe. STAYHOME word is trending in our life right now and it is important for safety prospective. Covid-19 spreading is going to be dangerous simultaneously It has changed people prospective towards life supporting elements of life,Now people demand home with home office,Green Buildings demand is trending these days as it is much capable to reduce impact on physical environment and promote a healthy indoor environment for Residents. The culture of India refers collectively to the thousands of distinct and unique cultures of all religions and communities present in India. India's languages, religions, dance, music, architecture, food and customs differ from place to place within the country. India food and Spices promote health and fitness and COVID-19 days realized this many of us practically and properly.Medicial properties and immunity booster enriched Indian spices are also capable to add mouth watering taste in Indian cuisine. Fast food and junk food addicted indians have no other option but to eat only homemade food these days.In between unavailability of COVID-19 medicine and Vaccine Indian spices and home made stuff are working like life guards against Pandemic.Home Hygiene is the other important thing which we have to do these days. In Pandemic lockdown we spent quality time with our family, and it helped us to reconnect with our loved ones.We had enough time to spend with them.In COVID-19 Lockdown days many good habits we have practiced and we hope it to be continue for lifetime. Chandigarh

NRI real estate investment FAQ

5/26/2020 6:08:00 PM

"1.       Who is a NRI? NRI is a citizen of india, who is holding an indian passport and temporarily residing abroad for employment residence, education or any other purpose or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a non-resident. Non-resident foreign citizens of Indian Origin are treated at par with Non Resident Indian (NRIs). 2.       Who is a PIO? A Person of indian origin who is a citizen of another country, holds passport of another country  and is not being a citizen of Pakistan,Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal and Bhutan. (a)   He/She at any time, held a Indian passport, or (b)   Self or either parents, grandparents, great grandparents or spouse was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955). 3.Who is an OCI? (a) Any person of full age and capacity: (i) Who is a citizen of another country and holds passport of another country but was a citizen of India at the time of, or at any time after, the commencement of the constitution, or (ii) Who is a citizen of another country, but was eligible to become a citizen of India at the time of the commencement of the constitution, or                                                                                                                                   (iii) Who is a citizen of another country,and holds passport of another country but belongs to a territory that became part of India after the 15th Day of August, 1947. (iv) Who is a child of such a citizen, or                                                                                                                                    (b) A person, who is minor child of a person mentioned in clause (a) Provided that no person, who is or had been a citizen of Pakistan, Bangladesh shall be eligible for registration as an Overseas Citizen of India. 4.General Documents required for buying property Pan card  OCI/PIO card (In case of OCI/PIO) Passport (In case of NRI) Passport size photographs Address proof 5.Which categories can purchase immovable property in India?   Under the general permission of RBI, the following categories can purchase immovable property in India:                                                                                                                                                                                                a) Non-Resident Indian                                                                                                                                                               b)Person of indian origin                                                                                                                                                             c)Overseas citizenship of india The general permission, however, covers only purchase of residential and commercial property, and not for purchase agricultural land/plantation property/farm house in India, such proposals will require specific approval. 5)Can a NRI/PIO acquire agricultural land/plantation property/farm house in India? Since general permission is not giving permission to NRI/PIO to acquire agricultural land/plantation property/farm house in India, such kind of proposals will require specific approval of Reserve Bank and the proposals are considered in consultation with the Government of India. 6)What is the Tax treatment for income generated from property selling or renting in india for NRI/ PIO/OCI? The acquisition of property does not attract income tax. However, any income accruing from the ownership of it, in the form of rent (if it is let out)/annual value of the house (if is not let out and it is not the only residential property owned by that person in India) and/or capital gains (short term or long term) arising on the sale of this house or part thereof is taxable in the hands of the owner. 7). Do NRI/PIO/OCI have to file return in India for rental income from property in india and Capital Gains Tax? The Government of India has granted general permission to NRI/PIO/OCI to buy property in India.These categories do not have to pay tax on mere acquiring property in india, but if they are selling this property, the profit on sale will be subject to capital gains.The gain can be short term capital gain or long term capital gain.If the property held for less than or equal to 3 years after taking actual possession then the gains would be short term capital gains, which are to be included in their total income as tax as per the normal slab rates shall be payable and if the property held for more then 3 years then the resultant gain would be long term capital gains subject to 20% tax plus applicable cess.Property Rental income is taxable in India, and they will have to obtain a PAN and file return of income if they rented this property. 8)How does the Double Taxation Avoidance Agreement work in the context of tax on income and Capital Gains tax paid in India by NRI? India has DTAA’s with several countries which give a favorable tax treatment in respect of certain heads of income. However, in case of sale of immovable property, the DTAA with most countries provide that the capital gains will be taxed in the country where the immovable property is situated. Hence, the non-resident will be subject to tax in India on the capital gains which arise on the sale of immovable property in India. Letting of immovable property in India would be taxed in India under most tax treaties in view of the fact that the property is situated in India. 9)How does Double Taxation Avoidance Agreement work in the context of CGT paid in India on the foreign tax treatment? In case the non-resident pays any tax on capital gains arising in India, he would normally be able to obtain a tax credit in respect of the taxes paid in India in the home country, because the income in India would also be included in the country of tax residence. The amount of the tax credit as also the basis of computing the tax credit that can be claimed are specified in the respective country’s DTAA and is also dependent on the laws of the home country where the tax payer is a tax resident. 10)What are the rules governing the repatriation of the proceeds of sale of immovable properties by NRI/PIO as prescribed by the Reserve Bank of India? (a)  If the property was acquired out of foreign exchange sources i.e. remitted through normal banking channels/by debit to NRE/FCNR(B) account, the amount to be repatriated should not exceed the amount paid for the property: (i) In foreign exchange received through normal banking channel or (ii) By debit to NRE account (foreign currency equivalent, as on the date of payment) or debit to FCNR(B) account. Repatriation of sale proceeds of residential property purchased by NRI’s/PIO’s out of foreign exchange is restricted to not more than two such properties. Capital gains, if any, may be credited to the NRO account from where the NRI’s/PIO’s may repatriate an amount up to USD one million, per financial year, as discussed below. (b)  If the property was acquired out of Rupee sources, NRI/PIO may remit an amount up to USD one million, per financial year, out of the balances held in the NRO account (inclusive of sale proceeds of assets acquired by way of inheritance or settlement), for all the bonafide purposes to the satisfaction of the Authorized Dealer bank and subject to tax compliance. The NRI/PIO may use this facility to remit capital gains, where the acquisition of the subject property was made by funds sourced by remittance through normal banking channels/by debit to NRE/FCNR(B) account. 11) Is the rental income from acquired property in india is repatriable and what are the RBI rules? Being a current account transaction,a rental income,  is repatriable, subject to the appropriate deduction of tax and the certification thereof by a Chartered Accountant in practice. Repatriation of sale proceeds is subject to certain conditions. The amount of repatriation cannot exceed the amount paid for acquisition of the immovable property in foreign exchange. BrickAcres Real Estate Services Chandigarh ( UT) www.brickacres.in https://www.facebook.com/brickacres.in https://www.twitter.com/brickacresin " Chandigarh

Chandigarh real estate stretching boundaries Zirakpur, Panchkula ,Mohali & New Chandigarh

5/25/2020 5:06:00 PM

"Being lived in small town, I always dreamt to live in the place which could be beautiful, clean, endowed with opportunities & more importantly development oriented.Chandigarh, Which is elegant, spotlessly clean, Job oriented and it seems like finally i found out the beautiful smart city . 'Chandigarh' the neighbour of Himachal Pradesh, Jammu & Kashmir, Punjab, Haryana,Delhi & Uttarakhand.Chandigarh itself is a big city, but Interestingly, Now, In contemporary phase Chandigarh stretched its boundaries, New chandigarh, Mohali & Zirakpur are being developed as Chandigarh.High Rise Residential, Commercial & Industrial Development have been established in these TRI-CITY. In the developing phase of streached Chandigarh, I feel so blessed to being the spectator of the developing phase of the fore sure prominent Cities and for me this is a historic phase so indeed I would definitely narrate the developing stories of chandigarh  to next generation. NEW CHANDIGARH, MOHALI, ZIRAKPUR are cities of  stretched chandigarh. Schools, Education institutes, Entertainment points and Medical Facilities all are found in these cities so that no need to go chandigarh for particular reason. Govt and Private players are creating infrastructure &  provide Facilities to deep end.High rise commercial and residential are giant proof of developing cities . India's Top hospitals presence gives big relief sigh to medical related concern. Construction is the core element of infrastructure and Real Estate.Developing Industrial hubs are capable to provide job opportunities and at the same time Real Estate players has been staring in high rise infrastructure for long ago to provide best and amenities enabled. However, Spending time in our town always boosting energy and drawn out positive energy aura behind us as it keeps us away from hustle bustle life to simple living.We all would be definitely attached to our small towns as our family, ancestors, belongings are here.More importantly we spend our precious childhood moments in our birth place, but i dont know why chandigarh seems like my place." Chandigarh

New Era in India with bringing of fresh Rs 500 & 2000 currency notes

11/19/2019 6:47:00 PM

"The Govt. Of India yesterday 8th Nov2016 has ignite the flame to flatter the future of all Indians.With this new move the govt has clearly give the message to common man that India is now moving towards cashless transactions whether it is a matter to buy a small matchbox or to buy a LPG cylinder for home or just pay your LPG monthly bill digitally.It added more value to few private e-commerce platforms those have already started building confidence inside the consumer mind to see another alternative of bank ATM card.With this bold move of Govt the rumors are every where that what will happen to Indian Economy, Will specific product  like Stock Exchange, Gold, Real Estate etc will perform well in the absence of black money. In a laymen sense we can expect the things will move ahead in the same way as rumors are, but there can or we say exist another side of coin too. If we see the last three to four years of Indian real estate primary market on ground the chunk of black money was negligible. Due to the buying of investors held in the previous bull run for year  2009-2012 the market price for their assets are not even some time able to sell off on purchased price.Due to existence of end user demand in majority the sellers are managing to accept their short/long term gains through banking.The secondary market in undergoing or recently developed townships hope fully shall not face any major heat of Govt. this move as the margin of long/short term gains are very less. Further the investors those are holding properties in anticipation of better price in the near future will remain peace because of long vision where as current seller may adjust comfortably towards the acceptance of new move to keep the end user demand fulfilled in the near future. Most of Builders all around the country have been fighting since that with Low residential housing sale, Huge inventory , Slow construction phase, liquidity crunch,increasing Debt etc. As expected the selling pressure on the builders those are keeping huge inventory with the support of black money will face heat, but parallel to this Builder working from last few decades in providing good habitation to this country will have opportunity to regain the confidence of customer to large extent. One more addition to this will be the increased liquidity of Banks with this currency demonetization.With these Lakhs of crore deposits the financial strength of banks for lending will be increased and  may soon reflect in the form of reduce lending rate for Home loan etc. As per Economic parameters we know, the reduced home loan rate will ignite end user demand for Homes to fulfill  one major goal of their life.Reduced home loan rates enhance the capability of buyers to stretch  their loan with nominal change in their paying capacity. More over the real estate market is going to be very transparent for players those are practicing cheque & paper transaction in order to keep books of account healthy for buyer and seller. The upcoming enforcement of real estate act by Union govt and RERA presence in all part of country by April 2017 will be the backbone for real estate market to keep stand in front of consumer sentiments for sector. Once again the changing law and polices in country like India. in a surprise and positive manner  keep the finger cross for hoping such more good decision in near future. " Chandigarh

Union Budget 2017 Key Highlights of Real Estate Sector

2/4/2017 6:49:00 PM

"In Union Budget 2017 speech Finance Minister Arun Jaitley  fulfilled one of the major demand of real estate sector, Affordable housing will be given infrastructure status which is likely to result in increased participation from private players.This announcement can help this sector to boost in many way, Simultaneously it will attract investment to the sector.Infrastucture status to affordable housing will act as a catalyst to meet the objectives of pradhan mantri yojana housing for all by 2022. In the union budget 2017 Govt tried to fullfilled all demands what the sectors need to contribute to the economy.Union budget 2017 speech Finance minister Arun Jaitley announced  National Housing Bank will refinance individual loans worth Rs 20,000 crore in the year of 2017-2018.The housing sector alone contributes 5-6 per cent to the country's Gross Domestic Product (GDP).Here, some key highlights of union budget 2017 for real estate sector.a Union Budget 2017 Key Highlights of Real Estate Sector Affordable housing have been given Infrastructure status By 2019 1 crore rural houses will be created Pradhan Mantri Awas Yojana housing for all by 2022 to get Rs 23,000 crore National Housing Bank will refinance individual loans worth Rs 20,000 crore. Developers to get tax relief on unsold stock as liability to pay capital gains,It will arise only in the year a project is completed Instead of Built up area of 30 and 60 sq meters, the carpet area of 30 and 60 sq meters will be applicable for affordable housing Holding period for long term capital gains tax for immovable property reduced from 3 years to 2 years Tax break of 1 year post receipt of the completion certificate, for the unsold stock Rs 2.41 lakh crore has been allocated to boosting infrastructure for transportation Indra Awaas Yojana will be extended to 600 districts Allocation for National Highways to be at Rs 64,000 crore Indexation for capital gains shifted from 01-04-81 to 01-04-2001 Above 3 lakh cash transaction to be stopped BrickAcres Real Estate Services Chandigarh ( UT) www.brickacres.in https://www.facebook.com/brickacres.in https://www.twitter.com/brickacresin" Chandigarh

Demonetization:The Tremendous Unlocking opportunity for Real Estate Sector

12/20/2016 5:06:00 PM

"Views of Noted Economists, Chartered Accountants, Investment Gurus and Finance experts on Effect of Demonetization and other recent developments on Real Estate. Last few days there has been a surge of messages from ""Whatsapp Economists"" with the simple theme that real estate prices will fall drastically due to Demonetization ie ban on Rs 500/Rs 1000 notes. Here's a 10 Point Summary of what actual experts with business and economic logic say: Demonetization will flood the Banking system with funds driving down both interest rates on Deposits and Loans If Interest rate on FD is just 5-6 % interest on Home Loans will come down to 7-8 % (since Banks keep an 2-3 per cent margin). (Banks already indicated the same) Historically at such Low interest rates Real Estate industry gets a massive boost as property becomes attractive to everyone: Buyers, Investors and even that invisible category called Businessmen/Professionals. Even when prices are same, Apartments come within reach of Buyers due to lower EMI on Loans due to lower interest rate Investors find Investing in property more attractive than earning a paltry 5-6 % on Bank Deposit as simply buying and renting out gives them more return. PLUS they create an asset and earn appreciation over a period of time PLUS they get income tax deductions Shopkeepers, Retail Malls, Corporate Houses and even professionals like Doctors, Consultants, CAs jump in to buy property as they want preferred location and once that's gone they may never get that chance again. So, they buy at the first available opportunity instead of waiting for prices to fall. Demonetization will see the most money flowing in banking system from people in the unorganized / small scale sector: Farmers, Traders, Tailors, Hoteliers, Beauty shop owners, Tuition classes, small contractors, House Maids, Drivers, Security Guards etc. Crores of new people entering Banking system means that they will also be eligible to get bank loans and fulfill their dream of owning a house Government will have money to invest in infrastructure as Banks will deploy lakhs of crores in Government Securities. With a few lakh crore at its disposal, Government can only boost funding to infrastructure schemes such as Smart City Mission, Swacch Bharat Mission, Housing for All etc. New Airport in town, better connectivity to National/State Highway, Up gradation in City Transport all lead to increase in demand and prices of properties in the city It is interesting to note that real estate prices show slower rise in countries which have a fully ready infrastructure like USA, UK, Japan etc. Whereas in a developing countries like India, there is a vast difference in prices in a City before and after creation of Infrastructure   Conclusion: In the final analysis, recent developments such as passing of Real Estate Regulation Act, Demonetization, Goods and Service Tax etc combined with Government focus on infrastructure will only serve as positive factors for growth of Real Estate industry Factors of Real Estate Industry which get missed due to one-sided picture created by social media:  Real Estate Industry contributed 7 % to India's GDP. Second Highest employer after Agriculture. Real Estate Industry supports more than 140 allied industries from large ones such as Steel, Cement and Transport to cottage ones such as bamboo and rope making. Real Estate Industry caters to the basic need of Shelter for every citizen. As per Government of India, more than 90 per cent of demand for Real Estate Is in affordable and mid range category. In era of mechanization and automation, Real Estate is the only Industry which still continues to provide regular employment to millions of daily wage earners. One of the only Industries which contributes large share of taxes at all levels of Government: Local Government ie Municipal Corporations etc (Building permission charges), State Government (VAT and Stamp Duty), Central Government (Service Tax and Income Tax). Investments such as equity shares, Commodities like Gold, Silver, Mutual Fund etc have seen large ups and downs. Real Estate is the only asset class which has given stable and constant one way growth over last several decades. Real Estate has both value in use and value as investment. Real Estate investment is the best investment from a very long term angle as taxation happens only on sale and in case of reinvestment 100 pc tax can be saved. With Indian economy becoming increasingly urbanized, it is expected that more than 50 pc of India's population will live in cities by next decade. This massive change in demographic and economic profile of the country will give big boost to real estate over the 5-10 year horizon. Demonetisation good for growth, present problem to be over soon: Adi Godrej, Chairman, Godrej Group  http://economictimes.indiatimes.com/markets/expert-view/demonetisation-good-for-growth-present-problem-to-be-over-soon-adi-godrej-chairman-godrej-group/articleshow/55432068.cms " Chandigarh

FAQs-Pradhan Mantri Awas Yojana

2/25/2016 6:52:00 PM

"What is Pradhan Mantri Awas Yojana (PMAY) Credit Linked Subsidy Scheme? Credit Linked Subsidy scheme implemented as a Central sector scheme,It is launched by our honourable Prime Minister Shri Narendra Modi for urban poor  Economically weaker section (EWS) and Low income group (LIG).In Prime minister latest announcement the neo middle class and the middle class categories have been added in the Pradhan Mantri Awaas Yojana in urban areas and one scheme for rural areas. The beneficiary would be eligible for interest subsidy for acquisition and construction of house.It is also available for new construction and addition of rooms, kitchen, toilet etc. to existing dwellings as incremental housing. Who can avail Credit Linked Subsidy Scheme? A beneficiary is defined as: A family comprising of husband, wife and unmarried children Beneficiary should not own a pucca house either in their name or in the name of any member of their family in any part of India to receive central assistance under the Mission Meeting income criteria defined under the scheme What is the applicable interest subsidy and the loan amount? The neo middle class and the middle class categories have been added in the Pradhan Mantri Awaas Yojana in urban areas.Housing loans of up to Rs 9 lakh and Rs 12 lakh will now get interest subvention of 4 per cent and 3 per cent, respectively, in 2017. Another scheme is being put in place for the neo middle and middle class in rural areas,interest subvention of 3 per cent on Up to 2 lakh rupees loan taken in 2017, for new housing, or extension of housing in rural areas. How will beneficiary receive the interest subsidy benefit? Housing and urban development corporation and National Housing Bank identified as Central Nodal Agencies (CNAs) to channelize this subsidy to the lending institutions and for monitoring the progress of this component. Housing Finance Companies and other such institutions would be eligible for an interest subsidy.The bank will claim subsidy benefit for eligible borrowers from National Housing Bank (NHB).The NHB will conduct a due diligence to exclude claims where customer has submitted multiple request. For all eligible borrowers, the subsidy amount would be paid to the Bank. Once the bank receives the interest subsidy, it will be credited upfront to the Loan Account. What is the size of dwelling units under Credit Linked Subsidy Scheme? The carpet area of houses being constructed under this component of the mission should be upto 30 square metres and 60 square metres for EWS and LIG, respectively in order to avail of this credit linked subsidy. The beneficiary, at his/her discretion, can build a house of larger area but interest subvention would be limited to first Rs. 9 lakh only. BrickAcres Real Estate Services Chandigarh ( UT) www.brickacres.in https://www.facebook.com/brickacres.in https://www.twitter.com/brickacresin " Chandigarh

A Potential Destination to Invest in Real Estate Baddi Brotiwala Nalagarh Industrial Zone

2/17/2012 5:00:00 PM

"A worth in real estate investment associated with the potential of that area to pay returns in terms of Appreciation and rental. Property price always based on the current status and new up comings for any area.Baddi an industrial area of Himachal Pradesh also emerging as a new destination for real estate investment as area has already developed into a industrial house for Big Indian Players of Pharma,FMCG Textile,Biotechnology,Packaging,Informational technology and Electronics etc those contributing towards the witness growth of industrial area. As on 31/03/2013 BBN has received the investment of INR 8116.08 Cr with the registration of 3796 small, medium and large scale units, In which Aprox INR 5031.96Cr has contributed by Medium & Large scale industry. In the last 5 Years Govt has approved projects of worth more than INR 4500 Cr & Expansion of existing projects worth more than INR 1000 Cr. Recently Govt added two more lime stone to its basket by approving investment proposal INR 550 Cr of United Biotech Pvt. Ltd along with Ranbaxy propose to invest INR 84.70 Cr with the Employment potential of 272 people in Baddi. As the area is developed well in terms of industry and still Medium & Large Scale Industries already approved worth more than INR 8000 Cr yet to start its production, the demand for well planned residential and administrative zone comes into play and witness by the Govt. recent activities of appoint a separate IAS officer for Baddi,New modalities with Haryana Govt would work out for the rail link from Surajpur to Baddi,Four lane road from Chandigarh to Badidi,Center Aid of INR 65 Cr to carry out project, Foundation stone for new Tehsil,Shifting State Pollution Control Board to Baddi & so Many etc. activities. Having look on all these facts, One can prudently analyze the growth scenario of BBN area where Half of India’s Pharmaceutical production mainly formulation would be originated." Chandigarh