Generally NRIs invest in real estate properties in India with a plan to either settle in after a few years or for their parents living in India. Another important perspective in which the NRIs invest is for their future savings. Among other major cities, Chennai being one of the favorable places for investing in real estate in our country because of its steady growth in the property market, many NRIs invest in land or apartments. These days, many promoters are building flats within the integrated townships on par along with the facilities been international standards. The architectural design, luxuries provided within the premises and the lifestyle that is assured to its residents are really astonishing. Getting amazing living experience is what provided by popular Amarprakash builders. This would result in no single customers to ask a reply for the question ‘is Amarprakash a good builder’? The features that are available in the newly constructed apartments make it more attractive to the NRIs who were settled in foreign countries and looking out such entities in our nation in their campus. As a result, NRI investments are coming forward by getting attracted at the luxurious apartments that has come with more useful amenities.
Month: May 2015
Key Real Estate Terms in India to be known
If you are one among those looking for buying a house in Chennai, you would be surprised to know some of the common real estate terms prevalent in India. It is significant to know some of the common real estate terms in order to converse with the promoters, builders or the agents in the domain to make a fair deal, told the general Amarprakash Royal Castle reviews. For any industry, there will be some common terms prevalent and the professionals in that industry seem to speak a separate language which will be understood only by the professionals in that industry. But in real estate industry, since the buyers and sellers involved in the deal are common people, it would seem to be something different for the buyers and sellers initially. But, as and when the terms are well known, it would be easier to participate in the negotiations and conversations in the real estate industry and make out a fair deal.
Brokerage or commission: It is the amount given to the broker for making out a fair deal.
Closing: It is where the deal comes to a settlement where the documents are signed and money transactions also take place.
Deed: It is through the deed that the right to the property is transferred by the seller to the buyer.
Earnest Money: It is the down-payment or the portion of the value of the property paid to the seller by the buyer as an evidence of trust.
Encumbrance: Right towards any property held by the person other than the property owner.
Heir: It represents the person who inherits the property as per the law through a will or a person who directly inherits the property.
Lease: An agreement which grants the right to use the property or space in return to the exchange of certain amount as rent.
Market value: It is a nominal value of the land which is actually the average of the maximum value of the property that the buyer is willing to pay for the property and the minimum value of the property that the seller is ready to accept for the property under consideration.
Power of attorney: When more than one person has the right on property, then all the persons can transfer the right towards the property to a single person. This legal step to transfer the power to the other is called the power of attorney.
Tamil Nadu faces Poor Industrial Growth
Today, the industrial development in the state of Tamil Nadu has been undergoing zero growth. But, Tamil Nadu got the name to be the first state to hold a record of huge number of engineering students. The experts are seeing this, says that the record has no value when the industrial growth in the state is in a standstill condition. EVKS Elangovan, the president of TNCC on February 1st of 2015 told that the reason behind the failure of growth would surely be poor infrastructure, corruption and power cut. Industrial growth took place in areas like South Chennai since the surrounding localities of this stretch were good in infrastructure growth and power cuts won’t take place at frequent stretch. The Amarprakash residents are feeling much happy and thanking the promoters for choosing such a wonderful area in the city. Due to the resident’s joyfulness, they are not going to come with any sort of Amarprakash builders complaints. Location can be said to be a right reason for any type of issues or complaints not be risen. Apart from location, also provision of other facilities and other amenities are acting to be a reason behind the non-existence of criticism or other issues.
We can again go back into the discussion about the industrial growth of the Inidan state. In a statement released by EVKS Elangovan, it is stated that Tamil Nadu stood in the place of 5th position in the list of developed industrialized State. But at present, the Tamil Nadu State has been devalued in the list from 15th place to 18th place since the State currently has not done any kind of commercial developments. This is mainly because of power shortage which acted to be the main reason for the non launching of commercial buildings. To go in depth, shortage in power is the only reason for the failure of industrial developments. Thermal power station at Neyveli is not enough for the development of commercial sector since the power requirement for residential purpose has been increased widely. In this condition, there is a need of addition thermal station. When the government decided to carry out another Power Station, the people are protesting against the establishment of second Power Station.
Furthermore, another reason for the delay of second Power Station is that currently Tamil Nadu State is facing problems due to non presence of Chief Minister. This is because the former Chief Minister, J.Jayalalitha has been stuck in a court case for asset case. Also, the current Chief Minister, O.Panneerselvam was deserted and is not capable of handling the situation properly that lead the State to an affected condition.
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