Month: August 2018

The Real Estate Market Of Rohini

After a lot of research Jyoti, 32, and Ramesh Aggarwal, 36, have decided to purchase a two-bedroom, 1,000 sq ft apartment in a society complex in Sector 9, Rohini for Rs 38 lakh. Not only did they compare prices in their research, they also looked at factors that affect general day-to-day living, such as level of congestion, availability of greenery and open spaces, likelihood of water shortages during summers, and travel time to important destinations. Finally, took a decision and bought an apartment in Rohini.

There are many reasons why one would like to purchase a home in Rohini. And one of the main reasons why anyone would feel attracted to purchase a property in Rohini is because of its connectivity with the metro.

After the Metro became operational, prices have risen by 40-60%, according to a property broker of the area.

A property dealer based in Netaji Subhash Place explains the price rise in terms of reduced travel time. He said that till a few years ago, it took one-and-a-half hours to travel from Rohini to central Delhi areas like CP and ITO, so its property was available at a low price. After the coming of metro, the travel time is now only 40-45 minutes, and the commute being far more comfortable than a road journey, Rohinis society apartments now boat of a price of Rs 3,150-4,500 per sq ft. This is at par with prices in areas like Patparganj in East Delhi which are only a 30-minute drive from CP.

Not only metro, of late Rohini has witnessed a lot of commercial development as well, which has led to overall development of north-west Delhi. In fact, entertainment-wise Rohini has given newer options to people residing in the nearby areas.

There are some common factors that have contributed to an increase in prices in Rohini like easy availability of bank loans, high salaries commanded by young professionals, and the massive influx every year of people from other states into Delhi.

Rohini has options for every pocket: If you think you can afford one, go for a society apartment. These kinds of apartment boast of better-quality construction, high-maintenance, comparatively more open areas compared to DDA flats, and of course better security arrangements. The up-market complexes, about a dozen within Rohini, are equipped with lifts and have power backup system.

Such society apartments are mainly located in sectors 7-14 and out of these, sectors 9, 13, 14 and Prashant Vihar are available at a very high price, because of the quality of development and due to proximity to Metro stations (East and West).

Other option is DDA apartments that usually cost less than society apartments. 1 BHK LIG apartment costs around Rs 2,000 per sq ft, and prices of two-bedroom MIG apartments range between Rs 2,350 and Rs 2,900 per sq ft. The construction quality of a DDA apartment is usually inferior as compared to a society apartment, so you may have to spend some amount before you can actually start living in one. DDA flats are located in sectors 2-8, 15-18, and 24.

For people who are looking at low-budget options, they are available in sectors 23, 24, 25 and 28. These sectors are a little far from the Metro line. According to Mr. K.K. Wadhwa of Wadhwa Property, a plot of 32 sq m would cost around Rs 18 lakh in Sector 7; in Sector 28, the same plot-size would cost you just Rs 9-11 lakh in this sector.

A development that is sure to attract people from all over west Delhi to Rohini is Planet Pogo, a theme park, which is being developed in Sector 10. The company that developed Appu Ghar, Unitech Amusement Parks, and Turner International India are partnering this project. It is scheduled to be launched in the last quarter of this year. As far as shopping and entertainment options are concerned, Rohini has M2K Mall in Sector 3, and PVR Complex in Prashant Vihar. There is also a district court at Madhuban Chowk in Rohini.

So, if you are looking to buy or rent a house in west Delhi, you should definitely consider all the options available within Rohini. It undoubtedly has quality housing, good connectivity and all the amenities one expects in a well-developed area.

Seller Held Mortgage Notes For Beginners

As the housing market recovers from the chaos of 2008 and 2009 youve probably read more about seller-held mortgage notes and deeds of trust. What are they? How do they work? DM Direct Funding is a Florida mortgage note buyer with over a decade of experience valuing and administering seller-held mortgage notes. According to DMOs Doris OHalloran, seller funded mortgage notes and trust deeds are important alternatives to the mainstream mortgage market. She notes that A properly administered seller-held note serves different clientele for more flexible terms without adding risk to the borrower or lender.

In a seller funded note, the property seller covers some or the entire mortgage loan. The buyer makes payments on that amount plus interest to the seller. That way, a seller-held note serves as an investment for the lender, who profits from the arrangement in much the same way as the bank might in a traditional, institutional mortgage or trust deed.

Seller-held notes are normally uses to offer non-standard (but still legal and practical) loan terms. For example, seller-held notes often have shorter terms, as the seller doesnt want to wait decades for payments or deal with the property passing through multiple hands or liens. A short term might finish with a balloon payment to take care of the remainder in a lump payment. The seller might also adjust the interest rate and other features, though this should all take place under the guidance of real estate experts, including a real estate lawyer and someone with the competence to properly value the real estate in question.

Seller funding can also serve the needs of non-traditional borrowers. There are many people who dont match the one size fits all bank profile of a qualified borrower, but who still represent safe prospects for mortgage loans, says Ms. OHalloran. For example, self-employed individuals often find it hard to find suitable mortgages or trust deeds, no matter how successful their businesses are. Institutional guidelines may also ignore job stability, expected cash windfalls such as investments, and many other factors that contribute to financial stability in an unconventional fashion. Even unconventional borrowers should be well-qualified for the loan, however. Again, expert advice is recommended.

Thus, while a seller-funded note occupies an important niche separate from mortgages administered by banks, they require care and attention. The seller should have specialized legal advice on hand, proper valuation of the property, and needs to thoroughly investigate the borrower. Once these hurdles have been passed the note will not only serve as an effective investment, but can be used as a cash flow source in case sizeable expenses crop up. DMO is a mortgage note buyer that purchases properly administered mortgage notes, providing cash in return but the possibility of selling your note requires that it be properly written and administered in partnership with expert advice and a reliable borrower. Once you have these, you have maximum flexibility to use it as an extended investment or a cash flow source.

The Qualities Of A Good Property Valuer

There are several things you will need to work on if you’re planning on starting a business. It’s not enough to have a great idea, although that’s always a good place to start. You need to crunch some numbers, find a location, and come up with a good business plan for the first few years. Once you’ve done all that, you’ll need to make arrangements for the location you’ve chosen, and start construction for your new shop, store, or office. But how do you choose the best location for your purposes? It’s not enough that you find a good location. You have to find out if it’s worth it, especially if you’re buying land or property. Now is the time to find a property valuer for the properties your considering. Here are a few things to think about when you’re choosing commercial property valuation:

(1) Commercial Property Valuers need to be registered. A registered property valuer will have completed specific University degrees specializing in valuation. These people are trained in several different methods when it comes to property valuation. Registered valuers also have several years of experience in valuation. This means that with a registered valuer, you can be sure that the valuation reports that they provide you will be accepted by most major financial institutions. They have had a certain amount of education and training and they are considered experts in their field.

(2) Your property valuer should have experience in the kind of property you’re thinking of buying. Some valuers prefer to focus on residential or commercial properties. In order to make sure that the valuer you choose can do the job efficiently, it’s best to find someone who already knows what they’re doing when it comes to valuation.

(3) Find a property valuer who has done valuations or is familiar with the area you want to buy. An accurate valuation is dependent on information about other properties in the area and the area itself. A property valuer who is familiar with the area will be able to give you the most accurate valuation possible.

(4) A great property valuer will inspect the property. A current and accurate valuation is dependent on the current condition of the property itself. A property valuer should take the time to go through the entire property to check for defects and potential problems that could affect the value of the property. They should also measure the property themselves.