In real estate like any other investment instrument, it’s not the timing but the TIME you stay invested for. It has been observed around the world that the returns of real estate has outperformed other avenues. Investing in the real estate usually needs patience and courage.

Property bought for residential purpose and for business should not be considered as investments per se Investment is something that you put your money into , with an expectation to earn out of it. If you have some spare money than buying a real estate would be a good idea. Buying a commercial property would yield better ongoing income returns than residential property.

It is true both in terms of appreciation as well as rent/lease incomes.Always insist on buying a property in a prime location.

Title report is a document issued by a solicitor after scrutinizing the land records with the government authorities. A notice is also published in the news paper inviting any claim on the said property by individuals, companies, govt. agencies, financial institutes, etc. It is advisable to get a title report done.

Title of land : Normally the land is clear for sale or purchase without any mortgage or right of any other persons.

Title of Construction (Building):
1. It means Construction is as per approved plan and permission
2. Possession of construction as per permission
3. Use as per permission

FSI stands for Floor Space Index decided by a governing body which all developers have to follow. It is a common index for all developers. It is usually decided in relation to the size of the road and/or area. It is to restrict unwanted development and haphazard growth.

1. Carpet area is the net area that you get for your premise (from inner edge of the wall to wall)
2. Built-up area means carpet area plus the area occupied by walls of your premises (from outer edge of the walls)
3. Super Built-up means the area you get for your premises plus the areas used for all common amenities like lift, stairs, passages, basement parking, etc. divided among all users

This is a good business proposition. However, you should be careful in purchasing your property. Housing property gives you moderate returns while commercial properties can yield 9-12% annually. The most important aspect here is the location of the premise and the quality of the occupants of the building.

Yes, to purchase any kind of property land is available. The loan amount will depend upon you own capacity to re-pay and your IT papers. Norms of some FI may defer from others, but by large a lot of you could get loans.

BU means Building Use permission. This is a permit document issued by the local governing authority after checking if the property is built as per by-laws or not. It is only issued if the building is as plans. It is usually issued after the building is finished construction.

To obtain BU permission after completion of construction, following things are required:
a. All progress reports are to be submitted compulsorily
b. All structural drawings should be submitted along with application
c. Lift inspector’s certificate should be attached

Development Plan is blue print for proposed development of the city for next 10 years. It is called Macro level planning of the city. It shows :
• Zoning – Residential, Commercial, Industrial, Recreation, Agriculture, etc
• Roads – New and widening of existing roads
• Reservations
• Government Land

Town Planning Scheme
• It is micro level planning by which land lord surrender his 25 to 50% of land and will get Regular shape, approachable shape and approachable final plot
• It includes plot level planning, roads, drainage and water supply, electricity poles, etc
• Reserved plots for dispensaries, schools, playgrounds, gardens, libraries, police stations, fire brigade, civic center, etc

Infrastructure is designed for projected population to control or for guided growth or aimed survival density should be required to monitor. That can be possible by Building Control regulations

It may be known as Building Control Regulation. It includes:
- F.S.I
- Open space
- Margin
- Height
- Built-up area
- Use of building, etc

Laws are applicable at Three Stages in Construction:

A. Before starting the construction or purchasing/ acquiring land
• Land revenue code
• Tenancy code
• Transfer of property act
• Contract act
• Registration and stamp duty act
• Power of Attorney/ Hindu, Muslim succession act
• Gujarat Town planning and urban development act
• Bombay provincial municipal corporation act.
• Local authority acts like port trust development authority, cantonment area authority
• NOC from Airport Authority, Fire department, O.N.G.C., Railway Authority
• General development control regulation

B. Laws to observed During the Construction
• Contract Act
• Labor Act
• Indian electricity Act/Rules
• Flat ownership Act
• NTC Act
• Co-operative society Act
• Consumer Act
• IT Act
• Company Act
• Indian Elevator Act
• Service Tax

C. Laws applicable after Completion of Construction
• Building use permission under GDCR
• Flat Ownership Act

Architect/Engineer
• To make plan as per GDCR and follow the NBC wherever necessary
• To supply working drawings at site

Structural Engineer
• To make structural design confirming to is Codes and NBC
• To supply detail working drawings at site

Duty of Clerk/Supervisor
• To execute work at site as per drawings and details given by Architect Structural Designer
• Quality control at site

Local Authority
• As per GDCR, progress report should be submitted to local authority at following stages:
• At plinth level or ay basement slab level (before casting the slab)
• First Storey
• Middle Storey slab level
• Last Storey

The competent authority should check the progress and convey the decision within 7 days to the owner so that any error in construction can be identified and be rectified at proper stage without heavy losses

Points to be considered while Purchasing Properties:
• Approved plan from a Competent Authority
• Title clearance certificate from reputed lawyer/ solicitor
• Plot/ tenement/ row house/ shop/ office allotment letter with number, floor and area in sq yds/ sq ft/ sq mts
• Society/NTC/Company Name
• Society Registration
• Society Registration Date
• Name of Village
• Final Plot (FP)
• Town Planning (TP) scheme
• Survey
• Name of Taluka