A check list for NRIs buying a house in India - Yahoo! News India:
Investment from any source in the housing sector is an appreciated aspect in today's Indian real estate scenario, from an industry perspective. Let it be resident Indians, NRIs or even companies, constructing houses creates jobs for a lot of people. A back-of-the-napkin calculation shows that for a 1000 sq feet house, 100 direct employment opportunities (architect, building engineer, masons, helpers, electricians, plumbers, painters, carpenters, etc) and over 1000 indirect employment opportunities (people working in cement plant, brick kilns, tiles kilns, electrical fittings companies, saw mills, steel plants, paint companies, etc) are created. Of course the duration of the employment will depend on a number of factors like nearness to a supply sources for material and labour, access to high tech equipment, architecture, etc.
But to construct a house is not all that easy. It is not without substance that a Tamil saying goes, “Veetai Katti Par, Kalyanathai Panni Par” (Basically the saying rates constructing a house and having a child’s marriage done among the toughest).
NRI’s Woes
To an already difficult task, the sheer distance and absence during construction become problems that multiply, for the NRIs. There was an NRI based out of the USA who got a wonderful sales pitch from a builder. The salesman met the NRI at his office in the USA and arranged for all the documentation and also sent video clippings of the apartment at Bangalore. Convinced on the genuineness, the NRI transferred Rs.50 lakhs to the builder’s account. The date for the house warming was fixed after one month. The NRI could not make it to the function due to some pressing work and had asked his parents to do the poojas.
The parents got the shock of their life, when they landed at the apartment complex the day before the poojas. The complex had only one sample apartment finished (the one in the video). They were told by the Project Manager at the site that the poojas can be done at anytime but the apartment can be delivered only after “6 months”.
Another NRI who was building the house himself using an experienced and well referenced engineer found that his house orientation has been shifted by 15 feet. This left him space on the wrong side of the house squashing his plans to build a small commercial complex in future. They now have space for parking 4 cars but none for building a rent-worthy space.
Is There a Way Out?
A number of checks could have been used to be on the safer side in both the above cases:
1. There are a number of professional builders who are a lot more trustworthy. So doing a bit of research on the track record of a builder can help.
2. For any real estate purchase it is preferable to make visits to the sites before buying them. This exercise is worth it not only because you are committing a large amount of money but also because reversing the decision proves costly as well. If an NRI is not able to make it, he can request a trusted friend or relative to opt for the site visit.
3. Going for a housing loan through a bank will ensure that the money is released in stages only. This keeps the money safe during the construction. Also, all the banks at their local branches, have their list of shortlisted builders for whose constructions loans are pre-approved. It is better to buy only these constructions, as the banks are quite stringent in their norms for pre-approval and shortlist only those builders who have a proven track record and those projects, which comply with all legal norms.
4. Post the construction, the management of the asset is one of the major issues faced by NRIs. There is no easy solution for this. There are some society associations which support the owners of the buildings with services like maintenance and rent collection. There are again the “friendly neighborhood real estate agents” who may sometimes double up as the maintenance manager too. There are a few professional real estate management firms in most metros, who are now expanding into the 2nd Tier cities too.
5. Some of the other checks for any real estate purchase are:
a. Whether the construction rate quoted is for Built-up area or Carpet area? Construction is generally quoted for built-up area and rental is quoted only for the carpet area. There can be a difference of 15 % to 20% between the two based on the type of construction. Today in apartments there is the concept of super built-up area which apart from the built-up area includes stair case, common passages, fire escape passage, etc. The super built-up area can be bloated by as much as 50% of the carpet area.
b. Robert Allen, the Real Estate Mogul suggests the 100 – 20 – 10 – 1 rule for any real estatepurchase. The idea is to check out 100 properties in person; shortlist 20 of them for a deeper scrutiny; enter into negotiation with sellers for 10 of the properties and finally buy the ONE that is best suited .
c. Technically there should be a check for all the statutory approvals – town planning (Nobody wants a flyover at arms length from the balcony!), water supply and sewage disposal, safety approval from the local fire department, etc. It is always better to ask for the encumbrance certificate and the title deed from the builder to get a legal opinion from a lawyer.
6. Don’t hesitate to ask. This is probably the most important point. Many times, for avoiding being thought of as less intelligent, we question less. For any investing and particularly for real estate the more the questions asked the better the investment. The genuineness of the promoter can be gauged by the patience, the promptness and depth of the answers. Answers like, “Don’t worry about that, we will manage”, without going into the specifics are danger signs.
7. Take time. Do not restrain yourself by limiting the time for checking the properties and decision making to the time that you are present in India. A 2 to 4 week holiday cannot be hoped to be converted into a real estate investment period. Start the process before you come here. In case you cannot decide before you leave, it is okay. A Power of Attorney to a parent or a relative can be used to decide on the actual purchase even after you India.
We are Disputed Property Dealers-Sellers-Experts-Settlers. We are quite efficient to find some practical solution and there-after sell your disputed property. We are Govt. Certified Realtors having a long experience of real estate and fighting court cases of diverse types. We can take up real estate disputes court cases @ 5% to 25%. All expenses will be ours. And we will take our share after solution.
Thursday, April 19, 2012
Tuesday, April 10, 2012
लागत ने हिलाई रीयल्टी की नींव - Navbharat Times
लागत ने हिलाई रीयल्टी की नींव - Navbharat Times:
रवि तेजा शर्मा
नई दिल्ली।। कंस्यूमर डिमांड में कमी से रियल एस्टेट इंडस्ट्री पहले ही मुश्किल में है। कोयले की कीमतें और मालभाड़ा बढ़ने से उसके मार्जिन पर और प्रेशर बढ़ा है। इसी वजह से रीयल्टी कंपनियां प्रॉपर्टी की कीमत नहीं घटा नहीं पा रही हैं, जिसका असर डिमांड पर पड़ रहा है। अगर डिवेलपर्स घरों के दाम कर पाते तो इससे डिमांड बढ़ाने में मदद मिल सकती थी। इंडस्ट्री एग्ज़ेक्युटिव्स ने बताया कि पिछले तीन महीने से डिवेलपर्स को मजदूरों की कमी का सामना करना पड़ रहा है। ऐसे में, रियल एस्टेट कंपनियों को कंस्ट्रक्शन प्रोजेक्ट्स पूरा करने के लिए मजदूरी बढ़ानी पड़ी है। इस दौरान सीमेंट और स्टील जैसे रॉ मटीरियल भी महंगे हुए हैं।
सीमेंट की कीमत (50 किलोग्राम) 220 रुपए से बढ़कर 280 रुपए हो गई है। नोएडा में इसका दाम 325 रुपए है। वहीं, बिहार में सीमेंट की कीमत 50 फीसदी बढ़कर 350 रुपए प्रति बैग हो गई है। कन्फेडरेशन ऑफ रियल एस्टेट डिवेलपर्स असोसिएशन ऑफ इंडिया (क्रेडाई) के प्रेज़िडेंट ललित कुमार जैन का कहना है, 'पिछले 3-4 महीने में रियल एस्टेट कंपनियों की लागत 50-60 फीसदी तक बढ़ गई है।' जैन कहते हैं, 'कंस्ट्रक्शन साइट पर बिहार से मजदूर आने बंद हो गए हैं। मनरेगा के चलते अब उन्हें अपने गांव में ही काम मिल जाता है। खेती का सीजन भी शुरू हो गया है।'
पिछले दो साल से भारतीय रियल एस्टेट सेक्टर बढ़ते डिफॉल्ट की समस्या से भी जूझ रहा है। कमर्शल बैंक डिवेलपर्स को कड़ी शर्तों पर लोन दे रहे हैं। बैंकिंग चैनल से लोन मिलने में दिक्कत के चलते उन्हें दूसरे जरियों से पैसा जुटाना पड़ रहा है। इसके लिए रियल्टी कंपनियों को ज्यादा ब्याज देना पड़ रहा है। कंस्ट्रक्शन स्टील की कीमतें 40,000 रुपए टन से बढ़कर 52,000 रुपए टन हो गई हैं। कंस्ट्रक्शन ग्रेड स्टील बेचने वाली टॉप कंपनियों में से एक सेल ने बताया कि वह कुछ प्रॉडक्ट्स की कीमतें बढ़ा रही है।
नई दिल्ली।। कंस्यूमर डिमांड में कमी से रियल एस्टेट इंडस्ट्री पहले ही मुश्किल में है। कोयले की कीमतें और मालभाड़ा बढ़ने से उसके मार्जिन पर और प्रेशर बढ़ा है। इसी वजह से रीयल्टी कंपनियां प्रॉपर्टी की कीमत नहीं घटा नहीं पा रही हैं, जिसका असर डिमांड पर पड़ रहा है। अगर डिवेलपर्स घरों के दाम कर पाते तो इससे डिमांड बढ़ाने में मदद मिल सकती थी। इंडस्ट्री एग्ज़ेक्युटिव्स ने बताया कि पिछले तीन महीने से डिवेलपर्स को मजदूरों की कमी का सामना करना पड़ रहा है। ऐसे में, रियल एस्टेट कंपनियों को कंस्ट्रक्शन प्रोजेक्ट्स पूरा करने के लिए मजदूरी बढ़ानी पड़ी है। इस दौरान सीमेंट और स्टील जैसे रॉ मटीरियल भी महंगे हुए हैं।
सीमेंट की कीमत (50 किलोग्राम) 220 रुपए से बढ़कर 280 रुपए हो गई है। नोएडा में इसका दाम 325 रुपए है। वहीं, बिहार में सीमेंट की कीमत 50 फीसदी बढ़कर 350 रुपए प्रति बैग हो गई है। कन्फेडरेशन ऑफ रियल एस्टेट डिवेलपर्स असोसिएशन ऑफ इंडिया (क्रेडाई) के प्रेज़िडेंट ललित कुमार जैन का कहना है, 'पिछले 3-4 महीने में रियल एस्टेट कंपनियों की लागत 50-60 फीसदी तक बढ़ गई है।' जैन कहते हैं, 'कंस्ट्रक्शन साइट पर बिहार से मजदूर आने बंद हो गए हैं। मनरेगा के चलते अब उन्हें अपने गांव में ही काम मिल जाता है। खेती का सीजन भी शुरू हो गया है।'
पिछले दो साल से भारतीय रियल एस्टेट सेक्टर बढ़ते डिफॉल्ट की समस्या से भी जूझ रहा है। कमर्शल बैंक डिवेलपर्स को कड़ी शर्तों पर लोन दे रहे हैं। बैंकिंग चैनल से लोन मिलने में दिक्कत के चलते उन्हें दूसरे जरियों से पैसा जुटाना पड़ रहा है। इसके लिए रियल्टी कंपनियों को ज्यादा ब्याज देना पड़ रहा है। कंस्ट्रक्शन स्टील की कीमतें 40,000 रुपए टन से बढ़कर 52,000 रुपए टन हो गई हैं। कंस्ट्रक्शन ग्रेड स्टील बेचने वाली टॉप कंपनियों में से एक सेल ने बताया कि वह कुछ प्रॉडक्ट्स की कीमतें बढ़ा रही है।
सेल के प्रवक्ता ने कहा, 'अप्रैल से कंस्ट्रक्शन के काम में आने वाले कुछ प्रॉडक्ट्स की कीमतें 2.5 फीसदी तक बढ़ जाएंगी। हालांकि, सेल की कुल बिक्री में इसकी हिस्सेदारी महज 3 फीसदी है।' एक्साइज ड्यूटी बढ़ने से भी कंस्ट्रक्शन की लागत बढ़ेगी। रिसर्च फर्म प्रॉपइक्विटी के सीईओ समीर जसूजा का कहना है, 'लेबर और कंस्ट्रक्शन मटीरियल महंगा होने से रियल एस्टेट डिवेलपर्स की मुश्किलें बढ़ गई हैं।'
Property dispute: Delhi woman pushed by brothers from first floor, dies | Deccan Chronicle
Property dispute: Delhi woman pushed by brothers from first floor, dies | Deccan Chronicle:
In a freak accident, a 25-year-old girl died after being pushed from the first floor of her house by her two brothers when she tried to prevent the two from beating their mother, police said on Friday.
The incident, the result of a property dispute, was reported in east Delhi's Jyoti Nagar area on Thursday night when Shobha was trying to stop the duo from beating their 60-year-old mother.
According to police, Deepak and Jagdish live on the ground floor of the building and their mother Vidhawati (60) and her daughter Shobha live on the first floor.
Deepak and Jagdish returned to their home in an inebriated condition, went to the first floor and started arguing with their mother over construction of a room on the ground floor.
They started thrashing their mother. They even pulled her hair and tried to drag her towards the balcony.
"Shobha tried to intervene and calm down her brothers, but it infuriated them further and they started thrashing her as well. They then pushed Shobha from the balcony as they were heavily drunk," said a police official.
Her head struck the ground and she bled profusely.
"The duo immediately ran away from the spot as neighbours gathered hearing the commotion. They informed police and immediately took Shobha to GTB hospital where doctors declared her as brought dead," said a police officer.
Police handed over the body to the family after post-mortem and registered a case against the duo who are absconding.
"We are trying to arrest them and investigations are on," a police official said.
Most interest-free banks in India have turned out to be cheats, defaulters | Northern Voices Online: NVO News Blog
Most interest-free banks and investment companies have turned out to be cheats, defaulters or failures. Unless the RBI stands guarantee, no one should deposit or invest money. The Baitun Nasr Coop Society of Mumbai is a classic case of failure. The Society invested huge funds in booming real estate in the city. When boom turned into doom, the values of the property crashed and Baitun Nasr had no liquidity to run the daily transaction. The first hint of danger made the depositors made a beeline at the offices of Baitun Nasr in Mahim. The company is facing litigation, its directors have relocated themselves and remain incognito. To my knowledge the directors were innocent and honest.
Al-Ameen Islamic Financial Investment Company (AIFIC) of Bangalore vanished with Rs. 18 crore of the deposits ie. Khushahal Deposit, Hajj Deposits, Ramadan deposits. Several widows and NRIs had deposited their money in the AIFIC. The company was liquidated as huge money was defalcated. Some of the company directors–who are big names in politics today from Karnataka–had swindled the money. Cases are pending against them in Bangalore courts. They are so powerful in politics that they have brought stay on court proceedings in lower courts against them. In this case, the directors were complete fraudsters and politically influential.
Al-Ameen Islamic Financial Investment Company (AIFIC) of Bangalore vanished with Rs. 18 crore of the deposits ie. Khushahal Deposit, Hajj Deposits, Ramadan deposits. Several widows and NRIs had deposited their money in the AIFIC. The company was liquidated as huge money was defalcated. Some of the company directors–who are big names in politics today from Karnataka–had swindled the money. Cases are pending against them in Bangalore courts. They are so powerful in politics that they have brought stay on court proceedings in lower courts against them. In this case, the directors were complete fraudsters and politically influential.
Ittefaq and Falah Investments from Indore had huge operations in Delhi but simply vanished from the scene with several directors behind bars for long. What happened is a mystery.
Barkat Investment–where this author too had deposited his money in 1992–crashed and disappeared into thin air by 1998. It still owes rent arrears to Darussalam complex, a building that generates revenue for the 120 year-old Muslim Orphanage of bangalore.
Islamic Welfare Society, which had several branches in Karnataka, run by Jamaate Islami Hind, wound up its operations without any notice to its depositors. This author too had made some deposits. They were never paid back. The very same jamaat is now making lot of waves about the interest-free banks and lending.
Islamic Welfare Society, which had several branches in Karnataka, run by Jamaate Islami Hind, wound up its operations without any notice to its depositors. This author too had made some deposits. They were never paid back. The very same jamaat is now making lot of waves about the interest-free banks and lending.
Al-Meezan Leathers, Madras too turned out to be complete cheats. They swindled almost Rs. 3 crore in late 1980s. Several NRIs had invested their money. The directors of the company were members of the Jamaat. It appears the Al Meezan had shifted the invested funds to an existing and old leather tanning company which was into export of leather to USSR. With USSR economy in shambles, the existing company’s fortunes nosedived and with this both companies went broke. These NRI investors from Gulf have almost already gone back to their abodes in India, crestfallen and despondent.
It is not that interest-free investments (or Halal investment) is per se bad. But in absence of a regulatory authority, there is no way one can have trust in these bodies. India is a paradise of cheats. Companies, investments and banks despite being monitored by regulatory authority, cheat the investors, depositors and share holders. Even with a regulatory body, they can make hay while sun shines. NRIs will be better advised not to invest money in any Halal or Interest free bank or investment company, at least in India. They should learn from the hard knocks of realism. It is better to be safe than sorry later.
Interest free system has a lot of loopholes. Don’t get pleased with Citibank or Barclays opening their interest-free windows. Currently picking is rich with those in the Gulf flush with extra money and surcharged with emotions. To boot, they expect no interest. It is quite possible that they will entice deposits by paying dividends to the early depositors. These will be paid out by new deposits. This might gladden hearts. But as a business and investment system interest free economy requires a lot of research and fine-tuning. Economy is a business of 2+2=4. It is not run by emotions. We Muslims, all over the world, have no manufacturing economy. The ones who appear rich, are so because they are selling away their mineral wealth. We do not have any hold over the current economy. Our money has to be necessarily deposited in the banks of the non-Muslims. They know how to pinch money out of our pockets. Since the interest-free economy is currently swaying emotions, they are out to make a cut.
It is time we trained our youth in finance, economy, monetary system investment, accountancy, industrial finance, business finance, etc. We have hardly any knowledge of world finance. Stranglehold of certain communities and lobbies over the subject and the system is capable of fooling everybody. America is not the place to learn it. American economy is currently based on the paper currency it is able to print and hand over to its stooges due to its military superiority. Once that military superiority is challenged, the economy will come down like a pack of cards. We must make our own beginning, honest, earnest, small though.
Paper currency is wreaking havoc over the world finances. We need to understand it. Simultaneously, we need to develop manufacturing base. There is lot of sense when Islam enjoins people to barter and trade. It is risky to trade in currency without it being backed by any commodity.
Muslims have a tendency to trust and be happy when some Islamic precept is endorsed by the West. Since they are opening interest-free windows, we are jumping with joy. This is how we also believe ‘Islam is the fastest growing religion in the US’. Tomorrow the same glad-tidings will be used to demonize the religion of Islam. Let us beware of the trap. My words will sadden a lot of hearts and even minds, possibly.
Let us remember that there is no way forward without our own research and hard work. The reality is that we are hardly working for all that.
About 70 percent of India is poor: Top adviser - Yahoo! India Finance
About 70 percent of India is poor: Top adviser - Yahoo! India Finance:
New Delhi, March 25 (IANS) Debunking the government's claim that the number of poor in India has come down, a top adviser has claimed that around 70 percent of the country's 1.2 billion population is poor, and stressed the need for a multi-dimensional assessment of poverty.
"The government claim that poverty has come down is not valid... there is a need for a multi-dimensional assessment of poverty as around 70 percent of the population is poor," National Advisory Council member N.C. Saxena told IANS in an interview.
According to Saxena, the various poverty estimates the government relies on to assess the impact of developmental schemes are faulty as they fail to factor in the lack of nutritional diet, sanitation, drinking water, healthcare and educational facilities available to the people.
The former bureaucrat, who now is part of the NAC that reports to Congress president Sonia Gandhi, claimed that not only the National Sample Survey Organisation data is faulty, the ongoing Socio-Economic and Caste Census, which is expected to throw up the latest poverty estimates, is highly flawed.
"The NSSO data is unreliable and the SECC is highly flawed," said Saxena.
The National Advisory Council (NAC) was set up as an interface with civil society. The NAC provides policy and legislative inputs to the government with special focus on social policy and the rights of disadvantaged groups.
After the government faced flak over its latest poverty estimates, according to which anyone earning over Rs.28 per day in urban areas and Rs.26 per day in rural areas is not poor, Prime Minister Manmohan Singh said a multi-layered approach is required to assess poverty as the widely accepted Tendulkar committee report "is not all inclusive".
The government now plans to set up another expert panel to devise a new methodology to assess poverty levels in the country, said the prime minister.
The government recently revised its poverty estimates from earlier Rs.32 per day in urban areas and Rs.26 per day in rural areas based on 2011 prices, to the current estimate which is based on 2009 prices.
Using the Tendulkar panel report, the Planning Commission pegged poverty at 37.5 percent of the population.
Saxena said in reality out of about 200 centrally sponsored schemes, only 5 or 6 are linked to the poverty estimates, pegged at 37.5 percent by the Planning Commission.
Having a realistic assessment of poverty in not only crucial for the government to ensure that around Rs.80,000 crore that it spends on various welfare schemes annually reaches only the genuinely poor, it is also important for the United Progressive Alliance which hopes to roll out the ambitious National Food Security Bill, which aims to provide subsidised rations to around 65 percent of the 1.2 billion population some time next year.
(Amit Agnihotri can be contacted at amit.a@ians.in)
‘Cycle is the future in India’ | Nature | New Delhi
‘Cycle is the future in India’ | Nature | New Delhi:
Cycling to work may soon become a reality in Delhi, and not just for the poor. With pollution and shrinking roadspace, the capital is under pressure to adopt the Netherlands model that promotes cycling as an alternative to driving.
"Cycle is the future in India but the voice has to reach out," said Pankaj Munjal, president-designate, All India Cycles Manufacturers' Association.
Cycling enthusiasts are hopeful of getting separate bicycle lanes (File photo of a cyclist in Bangalore) |
Every Sunday, Munjal and a group of 150 cyclists from across walks of life assemble at the Lutyen's Bikers' Zone between Rashtrapati Bhavan and India Gate in the capital for 45 minutes of vigorous biking and bike-related discussions - which end with a small feast.
"We drive to India Gate at 6 a.m., offload our bikes and cycle on the biker's tracks," said Munjal, also the managing-director of Hero Cycles.
The bikes roll in every category from the regulation black bikes at Rs.10,000 to the designer models priced Rs.1.5- Rs.2 lakh, Munjal said. His company manufactures nearly six million of the nearly 13 million bicycles in India annually.
A new study unveiled March 22 by the Centre for Science and Environment (CSE) says Delhi has to wake up to the mobility crisis with non-conventional, eco-friendly and easier systems of transport.
"Increased use of car in the capital has reduced the carrying capacity of roads and by 2020, if the capital has to meet its target of 80 per cent of public transport share, it will have to spend more on cycling and walking," the study said.
The report says with the "new biking and walking facilities in some parts of Delhi like the BRT stretch between Ambedkar Nagar and Pragati Maidan, Vikas Marg from ITO to Laxmi Nagar, the Tughlaqabad stretch and the Noida Link Road - built post-Commonwealth Games - cycling is still seen as a streetscraping rather than continuous well-designed usable system".
"We have political commitment, will and interest, but it is actually work on the ground. We are not looking at cycling and walking as a small solution, but on a scale which actually works on the ground in the capital," Sunita Narain, director-general of the CSE, said at a forum, "Our Right of Way: Walk and Cycle".
Citing figures for the capital, Anumita Roychowdhury, executive director of the CSE, said, "Delhi has one of the highest walk and cycle trips in the country at around 2.8 million".
"Even on the car-dominated roads like the Outer Ring Road, the share of cycles is quite close to that of autos - 7 and 9 per cent respectively," she said quoting figures. At least 34 percent Delhi homes own a bicycle and the domestic bike market has expanded by three percent every year," she said.
But the cycling lanes have remained discontinuous and the intricate design of the tracks have created barriers for cyclists, Roychowdhury said.
The high rate of fatal accidents in the capital has been a stumbling block to cycling and walking in the capital, and there were no efforts to make the roads safe for anybody, Satyendra Garg, the joint commissioner of police, said.
In 2011, nearly 104 cyclists were killed on the streets of the capital, he said.
"One cannot have proper cycling without the involvement of the city's governing bodies," said Rajesh Kalra, the initiator of Pedalyatri, a cycle initiative in the NCR region.
"I am trying to promote the concept of bike sharing in the capital which will allow a commuter or a traveller to rent a bike for Rs.5. But it requires funds and help from the government. The capital region needs more cycling space," said Kalra.
Kalra said he is starting the "India Cycle Service" - a cycle rental with innovator Prabhat Agarwal, an IIT and IIM alumnus. Cycling enthusiasts and votaries in the capital are trying to emulate the Netherlands model, which promotes bicycles as a replacement for cars.
"The difference between the Netherlands and India is that in the Netherlands cycling is very much another mode of transport while in India it is something for the poor," said Jeroen Buis, of the Dutch Cycling Embassy. – IANS
The Hindu : Life & Style / Society : Propelled by circumstance
The Hindu : Life & Style / Society : Propelled by circumstance:
Oblivious of the Supreme Court batting for them, rickshaw pullers live life one day at a time
The Supreme Court ruling on Monday against Municipal Corporation of Delhi's proposal of fixing the number of licenses for cycle rickshaws may seem like a glimmer of hope for the community, but spending a few hours with them tells another story.
Marred by the oncoming summer on the one hand and struggling for a livelihood on the other, for most rickshaw pullers finding the next commuter is the real issue. Most are not only oblivious of the recent developments in their favour, but also of the existence of bodies like the MCD or even a licensing system for pulling rickshaws.
They, however, agree with the apex court's concerns about their livelihood if any such cap is implemented. “Fine, let them remove all rickshaw pullers. It is not as if we enjoy coming to Delhi leaving our villages just to pull rickshaws,” said Mohammad Nasia, a migrant from Darbhanga in Bihar (most of them are migrants from either Uttar Pradesh or Bihar).
Nasia's own story provides a glimpse into the plight of the rickshaw pullers in the Capital where they are often seen as a ‘liability'. The 30-year-old, plying between Rajendra Place and Shadipur in West Delhi, has been living in Delhi for the last ten years. He has to support a family of seven, which includes his five children, four of whom go to school.
Nasia never went to school but wants his children to study. Though he sends them to a state school, he spends on a private tuition for them. While dropping girls to the nearby Kalindi College in East Patel Nagar, he dreams that his children, too, will go to a college someday. Limited means are locked in a constant battle with ever-increasing demands.
For others the case isn't very different. Most of the rickshaw pullers in both Patel Nagar and Karol Bagh, earn around Rs 250 a day. Almost none of them own the rickshaws they pull. The daily rent for each rickshaw comes to around Rs 50. According to them, alcohol is a necessity which they cannot do without. Hours of hard physical labour demands its consumption. They know it adds to their expenses and is a health hazard, but “such is life”. Medical facilities are mostly unaffordable. Vijay, 63, explains how he lost his wife due to tuberculosis and how his financial constraints prevented him from providing her better treatment.
Facilities or welfare programmes from the government are something unheard of. As Rajesh tries to answer these questions at the busy Karol Bagh market, a policeman taps him gently with his stick asking him to vacate the area. The taps are not always gentle, says Rajesh, though hurriedly adding that he understands that cops too have to carry out their duties. “Otherwise it will be a chaotic situation, no,” he says still managing a smile.
Despite seeing the irony of their existence, the richshaw pullers manage to retain their optimism, sometimes managing to look beyond their vocation. Surjeet Singh from Bareilly has an interesting story to share. Surjeet has taken his Class X board exams this year. While waiting for his results, he spends his time ferrying passengers in the narrow alleys of Karol Bagh. He wants to study further and make a career elsewhere.
Meanwhile, as the courts and municipal bodies write the script for the future of rickshaw pullers, the cast is busy combating its miserable present.
Cycle rickshaws: SC verdict gets mixed response - Times Of India
Cycle rickshaws: SC verdict gets mixed response - Times Of India:
NEW DELHI: The city has been fighting a losing battle against private vehicles but it had chosen to clamp down on the most eco-friendly mode of transport - cycle rickshaws - to prevent congestion. However, tri-cycles finally got some respite on Monday after the Supreme Court upheld their right to ply in the city without facing harassment. The judgment has been welcomed by many who felt that it addressed two necessary issues - providing clean public transport and protecting human rights of the migrant population. But a certain segment says that absence of regulations would not only compound congestion on roads but also worsen Delhi's population problem.
The Municipal Corporation of Delhi had placed a cap of 99,000 on the number of rickshaws in the city, colour coding them zone wise for easy identification. Under the municipal bylaws, the authority had the power to confiscate, crush and sell for crap any rickshaw found violating rules. In 2007, the then prime minister Atal Bihari Vajpayee had asked the government to end licensing for rickshaw pullers and have them registered. Though MCD took the first part of the order seriously, no policy on registration has been formulated till now. Consequently, no license has been renewed or issued since then.
"The government found it easy to target poor migrant workers who were trying to earn an honest living. Unlike private vehicles, rickshaws did not have licenses on demand," said Madhu Kishwar of NGO Manushi. "The licensing procedure itself was arbitrary, first trapping the puller in criminality and then taking away most of his money in the form of fees and bribes. The law was equally absurd, making it mandatory for the puller to also be the owner of the rickshaw. If one can own and rent out several cabs or trucks, why can't rickshaw pullers. Many of them are also migrant labourers who rent rickshaws when they are in the city," she added.
Anumita Roychowdhury, executive director of Centre for Science and Environment says that 45% of all daily trips undertaken in the city are for distances less than 5 km, making them ideal for walking or use of rickshaws. "We have to devise a way of integrating these vehicles in urban planning. Many arterial roads will have dedicated corridors for cycles and cycle rickshaws and they will play a huge role in providing the last mile connectivity from your door step to other modes of public transport," she says.
However, Sanjeev Bhargava, general secretary of the Chandni Chowk Sarva Vyapar Mandal, says that an unbridled increase in number of rickshaws will only add to chaos on city roads. "In Mayur Vihar, there are more rickshaws than the actual demand. They do not follow rules, cannot be trained - since rickshaw pullers are a floating population - and are safe for only small distances. Even the master plan says that they should be permitted on arterial roads only where 'feasible'. If private vehicles are a problem, let the court issue orders against them too. A Central Road Research Institute study said that rickshaws were the main cause of congestion in Chandni Chowk after which they were banned. We want there number to be capped," he said.
पावर ऑफ अटॉर्नी के पेच में हजारों फंसे - Navbharat Times
पावर ऑफ अटॉर्नी के पेच में हजारों फंसे - Navbharat Times:
नगर संवाददाता ॥ नवयुग मार्केट : जीडीए और यूपीएसआईडीसी की ओर से अलॉट करीब 17 हजार प्रॉपर्टी पावर ऑफ अटार्नी के आधार पर खरीदकर लोग परेशान हैं। सालों से ये लोग पावर ऑफ अटॉर्नी के आधार रजिस्ट्री कराने की छूट का इंतजार कर रहे हैं। अगर इन प्रॉपर्टी की रजिस्ट्री होती है तो इससे सरकार को भी करोड़ों रुपये का स्टांप शुल्क मिल सकता है। जीडीए और यूपीएसआईडीसी की ओर से हाल ही में एक लेटर प्रदेश सरकार को भेजा गया था।
ये होंगे फायदे नुकसान
पांच साल पहले प्रदेश सरकार ने पॉवर ऑफ अटार्नी के बेस पर खरीदी गई प्रॉपर्टी की डायरेक्ट रजिस्ट्री करने की सुविधा दी थी लेकिन फिर इसे रोक दिया गया। ऐसे में अगर पॉवर ऑफ अटॉर्नी होल्डर रजिस्ट्री करते हैं तो इसके लिए इसके दो नुकसान हैं। पहला ये कि पॉवर ऑफ अटॉर्नी के तहत जितनी बार भी प्रॉपर्टी बेची गई है उन सब के नाम पहले रजिस्ट्री करानी होगी। इससे कई गुना स्टांप शुल्क देना होगा। दूसरा कि प्रॉपर्टी के मौजूदा सर्किल रेट के आधार पर जमीन की रजिस्ट्री करानी होगी।
वहीं, अगर प्रदेश सरकार से छूट का आदेश आता है तो इसके दो फायदे हैं। पहला फायदा कि अगर एक प्रॉपर्टी को मूल आवंटी के बाद तीन लोगों ने बेचा है तो अंतिम खरीददार के नाम डायरेक्ट रजिस्ट्री हो जाएगी। दूसरा कि संबंधित प्रॉपर्टी पर उस दौरान का स्टांप शुल्क उस समय का ही देना लागू होगा जब प्रॉपर्टी आवंटित हुई थी।
कोट
जीडीए की ओर से पावर ऑफ अटॉर्नी धारकों को रजिस्ट्री कराने के लिए छूट देने के लिए एक प्रस्ताव शासन को भेजा गया था। किन्हीं कारणों से शासन ने इस प्रस्ताव को नहीं माना है।
आर.पी. पांडे , जीडीए के ओएसडी
नगर संवाददाता ॥ नवयुग मार्केट : जीडीए और यूपीएसआईडीसी की ओर से अलॉट करीब 17 हजार प्रॉपर्टी पावर ऑफ अटार्नी के आधार पर खरीदकर लोग परेशान हैं। सालों से ये लोग पावर ऑफ अटॉर्नी के आधार रजिस्ट्री कराने की छूट का इंतजार कर रहे हैं। अगर इन प्रॉपर्टी की रजिस्ट्री होती है तो इससे सरकार को भी करोड़ों रुपये का स्टांप शुल्क मिल सकता है। जीडीए और यूपीएसआईडीसी की ओर से हाल ही में एक लेटर प्रदेश सरकार को भेजा गया था।
ये होंगे फायदे नुकसान
पांच साल पहले प्रदेश सरकार ने पॉवर ऑफ अटार्नी के बेस पर खरीदी गई प्रॉपर्टी की डायरेक्ट रजिस्ट्री करने की सुविधा दी थी लेकिन फिर इसे रोक दिया गया। ऐसे में अगर पॉवर ऑफ अटॉर्नी होल्डर रजिस्ट्री करते हैं तो इसके लिए इसके दो नुकसान हैं। पहला ये कि पॉवर ऑफ अटॉर्नी के तहत जितनी बार भी प्रॉपर्टी बेची गई है उन सब के नाम पहले रजिस्ट्री करानी होगी। इससे कई गुना स्टांप शुल्क देना होगा। दूसरा कि प्रॉपर्टी के मौजूदा सर्किल रेट के आधार पर जमीन की रजिस्ट्री करानी होगी।
वहीं, अगर प्रदेश सरकार से छूट का आदेश आता है तो इसके दो फायदे हैं। पहला फायदा कि अगर एक प्रॉपर्टी को मूल आवंटी के बाद तीन लोगों ने बेचा है तो अंतिम खरीददार के नाम डायरेक्ट रजिस्ट्री हो जाएगी। दूसरा कि संबंधित प्रॉपर्टी पर उस दौरान का स्टांप शुल्क उस समय का ही देना लागू होगा जब प्रॉपर्टी आवंटित हुई थी।
कोट
जीडीए की ओर से पावर ऑफ अटॉर्नी धारकों को रजिस्ट्री कराने के लिए छूट देने के लिए एक प्रस्ताव शासन को भेजा गया था। किन्हीं कारणों से शासन ने इस प्रस्ताव को नहीं माना है।
आर.पी. पांडे , जीडीए के ओएसडी
धर्म स्थलों वाले शहरों में प्रॉपर्टी की भक्ति - Navbharat Times
धर्म स्थलों वाले शहरों में प्रॉपर्टी की भक्ति - Navbharat Times:
घरेलू तीर्थस्थलों में आनेवाले श्रद्धालुओं की तादाद दिनोंदिन बढ़ रही है। ऐसे में देशभर के पवित्र शहरों में प्रॉपर्टी खरीदने की होड़ सी मची है, लेकिन क्या ऐसी लोकेशंस बढ़िया इनवेस्टमेंट साबित हो सकती हैं?
जब अनुजा वागले और उनके परिवार सदस्यों ने दस साल पहले मुंबई के पश्चिमी उपनगरीय इलाके में नया मकान खरीदा, तब उन्हें इस बात का कतई अंदाजा नहीं था कि वह ऐसे मंदिर से सटे मकान में शिफ्ट कर रहे हैं, जिसकी मान्यता काफी ज्यादा है। अनुजा ने कहा, 'हमने यहां मकान इसलिए खरीदा था कि उस समय प्रॉपर्टी के दाम काफी कम थे और कीमत हमारे बजट के मुताबिक थी। हम खुशकिस्मत रहे कि ऐसा मकान मिला, जिसकी दीवार मंदिर से लगी है।'
जैसे-जैसे यह उपनगरीय इलाका डिवेलप हुआ और यहां दुकानें बनने लगीं, तब हाउसिंग डिमांड में भी इजाफा होने लगा। जाहिर है, ज्यादातर डिमांड मंदिर के आसपास की प्रॉपर्टी की थी। वागले ने कहा, 'बीते कुछ साल में मंदिर की प्रसिद्धि भी काफी बढ़ गई। यही वजह है कि पिछले कुछ वर्षों के दौरान इस इलाके में प्रॉपर्टी के दाम ज्यादा बढ़े हैं।'
तो क्या इसका यह मतलब है कि आपको किसी भी पूजास्थल के आसपास मकान खरीदना चाहिए, जहां कीमतों में सबसे ज्यादा बढ़ोतरी होने की संभावना ज्यादा होती है? क्या आपको इस तरह की प्रॉपर्टी से बढ़िया रेंटल कमाई होगी? कुछ इलाकों के मामले में यह बात सही साबित हो सकती है, लेकिन ऐसा हमेशा नहीं होता। धार्मिक स्थल बड़ी संख्या में श्रद्धालुओं के आने और ज्यादा कमाई और रेंटल मिलने की गारंटी तो देते हैं, लेकिन रियल्टी एक्सर्पट्स का मानना है कि ऐसे इलाकों में प्रॉपर्टी खरीदते वक्त सावधानी बरतना काफी जरूरी है।
जोंस लैंग लसाले मेघराज इंडिया के सीईओ-रेजिडेंशल सर्विसेज ओम आहूजा कहते हैं कि धार्मिक स्थल के आसपास की प्रॉपर्टी की कीमत में तेज उछाल आएगा, यह जरूरी नहीं है। अगर प्रॉपर्टी में लोकल लेवल पर रोजगार सृजन जैसे इकनॉमिक मार्केट फैक्टर नहीं है, जिससे रेजिडेंशल डिमांड पैदा होती है, तो ऐसे इनवेस्टमेंट का भविष्य सिर्फ धार्मिक भावनाओं पर निर्भर करता है। अगर आप प्रॉपर्टी सिर्फ इनवेस्टमेंट के रूप में खरीद रहे हैं, तो आपको सबसे पहले रहने के लिए मकान खरीदना चाहिए। आहूजा ने कहा, 'धार्मिक स्थल पर प्रॉपर्टी खरीदते वक्त आपको शोर-शराबे और भीड़भाड़ का ख्याल रखना चाहिए, जिनसे रेंटल इनकम और रीसेल वैल्यू में गिरावट भी आ सकती है।'
इसके अलावा इन इलाकों में प्रॉपर्टी की कीमतों में बढ़ोतरी मेट्रो की तुलना में कम होती है। मसलन, मदुरै श्रद्धालुओं को खींचने वाला प्रमुख शहर तो है, यह तमिलनाडु में सबसे ज्यादा कमर्शल रियल एस्टेट ग्रोथ रेट वाली सिटी भी है। यहां हाउसिंग यूनिट की डिमांड ज्यादा है, लेकिन इसका मुख्य आधार धार्मिक गतिविधियां नहीं, बल्कि मदुरै में बड़े पैमाने पर चल रही आईटी/आईटीईएस गतिविधियां हैं। उनके स्टाफ के रहने के लिए जगह की मांग होने की वजह से वहां हाउसिंग की काफी डिमांड है।
तिरुपति (मुख्य आकर्षण)
तिरुमाला में श्री वेंकटेश्वर मंदिर
नजदीकी शहर चेन्नै (130 किलोमीटर)- प्रॉपर्टी की औसत कीमत 2,500-3,500 रुपए प्रति वर्ग फुट
गुरुवयूर
श्री कृष्णा या गुरुवयूरप्पन मंदिर
त्रिशूर (29 किलोमीटर) और कोच्चि (75 किलोमीटर)
3,300-4,100 रुपए प्रति वर्ग फुट
हरिद्वार और ऋषिकेश
हिमालय की तराई में बसे ये शहर चार धाम के गेटवे की तरह हैं। चार धामों बद्रीनाथ, केदारनाथ, गंगोत्री और यमुनोत्री शामिल हैं।
देहरादून (52 किलोमीटर) और दिल्ली (225 किलोमीटर)
हरिद्वार में 2,400-3,500 रुपए प्रति वर्ग फुट और ऋषिकेश में 3,500 रुपए प्रति वर्ग फुट
वृंदावन, मथुरा
यह शहर भगवान कृष्ण का जन्मस्थान माना जाता है
मथुरा (15 किलोमीटर), आगरा (58 किलोमीटर) और दिल्ली (145 किलोमीटर)
पुरी
जगन्नाथ मंदिर और रथ यात्रा। पुरी उड़ीसा टूरिज्म के गोल्डन ट्राइएंगल का हिस्सा है। दूसरे शहर भुवनेश्वर और कोणार्क हैं।
भुवनेश्वर (60 किलोमीटर)
3,165-3,500 रुपए प्रति वर्ग फुट
अमित शानबाग
घरेलू तीर्थस्थलों में आनेवाले श्रद्धालुओं की तादाद दिनोंदिन बढ़ रही है। ऐसे में देशभर के पवित्र शहरों में प्रॉपर्टी खरीदने की होड़ सी मची है, लेकिन क्या ऐसी लोकेशंस बढ़िया इनवेस्टमेंट साबित हो सकती हैं?
जब अनुजा वागले और उनके परिवार सदस्यों ने दस साल पहले मुंबई के पश्चिमी उपनगरीय इलाके में नया मकान खरीदा, तब उन्हें इस बात का कतई अंदाजा नहीं था कि वह ऐसे मंदिर से सटे मकान में शिफ्ट कर रहे हैं, जिसकी मान्यता काफी ज्यादा है। अनुजा ने कहा, 'हमने यहां मकान इसलिए खरीदा था कि उस समय प्रॉपर्टी के दाम काफी कम थे और कीमत हमारे बजट के मुताबिक थी। हम खुशकिस्मत रहे कि ऐसा मकान मिला, जिसकी दीवार मंदिर से लगी है।'
जैसे-जैसे यह उपनगरीय इलाका डिवेलप हुआ और यहां दुकानें बनने लगीं, तब हाउसिंग डिमांड में भी इजाफा होने लगा। जाहिर है, ज्यादातर डिमांड मंदिर के आसपास की प्रॉपर्टी की थी। वागले ने कहा, 'बीते कुछ साल में मंदिर की प्रसिद्धि भी काफी बढ़ गई। यही वजह है कि पिछले कुछ वर्षों के दौरान इस इलाके में प्रॉपर्टी के दाम ज्यादा बढ़े हैं।'
तो क्या इसका यह मतलब है कि आपको किसी भी पूजास्थल के आसपास मकान खरीदना चाहिए, जहां कीमतों में सबसे ज्यादा बढ़ोतरी होने की संभावना ज्यादा होती है? क्या आपको इस तरह की प्रॉपर्टी से बढ़िया रेंटल कमाई होगी? कुछ इलाकों के मामले में यह बात सही साबित हो सकती है, लेकिन ऐसा हमेशा नहीं होता। धार्मिक स्थल बड़ी संख्या में श्रद्धालुओं के आने और ज्यादा कमाई और रेंटल मिलने की गारंटी तो देते हैं, लेकिन रियल्टी एक्सर्पट्स का मानना है कि ऐसे इलाकों में प्रॉपर्टी खरीदते वक्त सावधानी बरतना काफी जरूरी है।
जोंस लैंग लसाले मेघराज इंडिया के सीईओ-रेजिडेंशल सर्विसेज ओम आहूजा कहते हैं कि धार्मिक स्थल के आसपास की प्रॉपर्टी की कीमत में तेज उछाल आएगा, यह जरूरी नहीं है। अगर प्रॉपर्टी में लोकल लेवल पर रोजगार सृजन जैसे इकनॉमिक मार्केट फैक्टर नहीं है, जिससे रेजिडेंशल डिमांड पैदा होती है, तो ऐसे इनवेस्टमेंट का भविष्य सिर्फ धार्मिक भावनाओं पर निर्भर करता है। अगर आप प्रॉपर्टी सिर्फ इनवेस्टमेंट के रूप में खरीद रहे हैं, तो आपको सबसे पहले रहने के लिए मकान खरीदना चाहिए। आहूजा ने कहा, 'धार्मिक स्थल पर प्रॉपर्टी खरीदते वक्त आपको शोर-शराबे और भीड़भाड़ का ख्याल रखना चाहिए, जिनसे रेंटल इनकम और रीसेल वैल्यू में गिरावट भी आ सकती है।'
इसके अलावा इन इलाकों में प्रॉपर्टी की कीमतों में बढ़ोतरी मेट्रो की तुलना में कम होती है। मसलन, मदुरै श्रद्धालुओं को खींचने वाला प्रमुख शहर तो है, यह तमिलनाडु में सबसे ज्यादा कमर्शल रियल एस्टेट ग्रोथ रेट वाली सिटी भी है। यहां हाउसिंग यूनिट की डिमांड ज्यादा है, लेकिन इसका मुख्य आधार धार्मिक गतिविधियां नहीं, बल्कि मदुरै में बड़े पैमाने पर चल रही आईटी/आईटीईएस गतिविधियां हैं। उनके स्टाफ के रहने के लिए जगह की मांग होने की वजह से वहां हाउसिंग की काफी डिमांड है।
तिरुपति (मुख्य आकर्षण)
तिरुमाला में श्री वेंकटेश्वर मंदिर
नजदीकी शहर चेन्नै (130 किलोमीटर)- प्रॉपर्टी की औसत कीमत 2,500-3,500 रुपए प्रति वर्ग फुट
गुरुवयूर
श्री कृष्णा या गुरुवयूरप्पन मंदिर
त्रिशूर (29 किलोमीटर) और कोच्चि (75 किलोमीटर)
3,300-4,100 रुपए प्रति वर्ग फुट
हरिद्वार और ऋषिकेश
हिमालय की तराई में बसे ये शहर चार धाम के गेटवे की तरह हैं। चार धामों बद्रीनाथ, केदारनाथ, गंगोत्री और यमुनोत्री शामिल हैं।
देहरादून (52 किलोमीटर) और दिल्ली (225 किलोमीटर)
हरिद्वार में 2,400-3,500 रुपए प्रति वर्ग फुट और ऋषिकेश में 3,500 रुपए प्रति वर्ग फुट
वृंदावन, मथुरा
यह शहर भगवान कृष्ण का जन्मस्थान माना जाता है
मथुरा (15 किलोमीटर), आगरा (58 किलोमीटर) और दिल्ली (145 किलोमीटर)
पुरी
जगन्नाथ मंदिर और रथ यात्रा। पुरी उड़ीसा टूरिज्म के गोल्डन ट्राइएंगल का हिस्सा है। दूसरे शहर भुवनेश्वर और कोणार्क हैं।
भुवनेश्वर (60 किलोमीटर)
3,165-3,500 रुपए प्रति वर्ग फुट
Should you buy property in a religious location? - Economic Times
Should you buy property in a religious location? - Economic Times:
When 32-year-old Anuja Wagle and her family moved into a new house in the western suburbs of Mumbai 10 years ago, they had no idea of its proximity to a famous temple. "We bought the house as the property rate was very low then and the price fit our budget. We believe that we were lucky to get a house that shares the temple's boundary wall," she says.
As the suburb developed and shops came up, the housing demand also rose, and most of this demand was centred in the vicinity of the temple. "Over the years, the popularity of the temple has also increased. This is why the property rates in this area have gone up tremendously since the past couple of years," adds Wagle.
Does this mean that one should buy a house near a place of worship as the price appreciation will be highest there? Will you earn a good rental income from such a property? This will probably be true for some areas, but not always. While religious hotspots guarantee a stream of devotees, and thus, increased income and rentals, realty experts caution property buyers of certain pitfalls of buying a property in such areas.
Appreciation is not assured
Om Ahuja, CEO, residential services, Jones Lang LaSalle India, explains that healthy appreciation of a property in a religious locality is not assured. If the vicinity does not have other economic market drivers, such as local employment generation, which leads to residential demand, the fate of such an investment hinges solely on often fickle religious sentiments.
Shirdi & Trimbakeshwar
Main attraction: Shirdi has a beautiful shrine that is built over the Samadhi of Shri Sai Baba, a religious saint while Trimbakeshwar is one of the 12 religious locations which house the famous Jyotirlingas.
Nearest city: Nashik (75 km from Shirdi and 28 km from Trimbakeshwar).
Average property price: Rs 3700-4,200 per sq ft at Shirdi and Rs 2,800- 3,000 at Trimbakeshwar.
If you are considering the property only as an investment, make sure that you purchase it after buying a house to live in. "While purchasing property in a religious place, you must also factor in the noise and crowd which can exert downward pressure on potential rental income and resale value," says Ahuja.
Also, the appreciation in such areas may not be as high as in metro cities. Investment in properties in religious localities may not yield high returns if it does not have other factors supplementing it. For instance, Madurai is a city of religious interest, but it also has one of the highest commercial real estate growth rates in Tamil Nadu. The demand for housing units is high there, but the primary driver is not the religious component, it's the fact that Madurai is seeing a lot IT/ITES activity. This leads to a high demand for housing to accommodate staff.
Main attraction: Mahakaleshwara is a Shiva Temple and one of the 12 Jyotirlingas in the country. A Kumbh mela is held here every 12 years.
Nearest city: Indore (56 km).
Average property price: Rs 1,700-2,000 per sq ft.
Sandeep Sadh, CEO of Mumbaipropertyexchange.com, a realty service provider portal says that while a property investment in a metro city could generate a return between 15-20% annually, the appreciation for similar-sized properties in religious localities could be less than 10% annually.
Stringent rules
Sadh explains that there are councils affiliated to such temples which formulate certain rules for the region. For instance, in Amritsar, tobacco and alcohol shops are restricted to certain regions. "In many temple towns in southern India, consumption of alcohol or non-vegetarian food is prohibited. So, if you buy property in these towns, you will have to adhere to such rules," says Sadh.
Rental income may be inconsistent
Rental incomes could often be seasonal, depending on the city. Unless the religious place draws year-round pilgrims from the middle income segment, rental income would be in line with the prevailing rates for a tier-2 or tier-3 city.
Before buying the property, you should ascertain whether there is enough tourist traffic so that renting out the house is feasible. If the traffic is seasonal, such as during the Kumbh Mela in Allahabad, will the rental income from the few days be enough to recoup your investment?
Tirupati
Main attraction: Sri Venkateswara Temple at Tirumala.
Nearest city: Chennai (130 km).
Average property price: Rs 2,500-3,500 per sq ft. Guruvayur
Main attraction : Sree Krishna or Guruvayurappan Temple.
Nearest cities: Thrissur (29 km) and Kochi (75 km).
Average property price: Rs 3,300-4,100 per sq ft.
Selling the property may be tough
It's difficult finding a suitable buyer at the right price and the task could be tougher if the house is located near a religious institution. The biggest reason is that not everyone is comfortable listening to religious sermons or chants throughout the day, especially if the families have school-going children who can be distracted from their studies. Also, according to Vaastu as well as certain religious tenets, it is unfavourable to have a house very close or in the shadows of a religious structure.
Haridwar & Rishikesh
Main attraction: Situated at the foothills of the Himalayas, these cities are the gateway to the chardham, the four holy Hindu pilgrimage destinations-Badrinath, Kedarnath, Gangotri and Yamunotri
Nearest cities: Dehradun (52 km) and Delhi (225 km).
Average property price: Rs 2,400-3,500 per sq ft at Haridwar and Rs 3,500 per sq ft at Rishikesh Vrindavan, Mathura
Main attraction: The town is believed to be the birth place of Lord Krishna.
Nearest cities: Mathura (15 km), Agra (58 km) and Delhi (145 km).
Average property price: Rs 2,300-2,900 per sq ft for built-up property.
Traffic is another issue which makes it difficult to sell such houses easily. Roads leading to temples or other religious places are usually choked with vehicles and pedestrians, which is why potential buyers avoid such properties.
It's also possible that the property rates in some areas could decline rather than appreciate after a few years. One example is the sharp fall in the rates in the spiritual town of Puttaparthi in Andhra Pradesh after the demise of Sathya Sai Baba, a religious figure. Flats in Puttaparthi were most sought after by foreigners and big businessmen, who preferred to stay for longer durations to meet the spiritual leader. Property prices which were around Rs 800-1,000 per sq ft for an apartment in the town, have dipped by 50% after Baba's death.
Puri
Main attraction: The Jagannath Temple and the Rath Yatra, an annual religious procession taken out from the temple. Puri is also part of Odisha Tourism's golden triangle, along with Bhubaneshwar and Konark.
Nearest city: Bhubaneshwar (60 km).
Average property price: Rs 3,165-3,500 per sq ft.
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