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Property In Mohali The Next Big Thing In North India

Mohali, aptly called as the next Gurgaon, is all poised to become the mecca of real estate in Punjab. In fact, it has already acquired the status of being the hottest investment destination just after Delhi NCR. Good return on investment on account of price appreciation is the prime reason why this city is witnessing a big influx of developers and investors both. Big names like Ansals, Emmar MGF and DLF have forayed into Mohali and bought huge land parcels here. Investment projects worth 10,000-20,000 crores are, currently, in pipeline, and are expected to transform the state of property market.

Price rates of property in Mohali, particularly that of land, have almost doubled in last 4-5 years. An acre of land that was available at an affordable 50-60 lakh/acre now costs in crores. Investors from neighboring areas too are flocking to this city in hope of getting incremented prices for their property. Emergence of IT sector is another boosting factor that have enthused Mohali’s realty market. Infosys is to set-up a 500 crore SEZ campus sprawled over 6.5 lakh sq. ft. area. This shall be a big upthrust for city’s economy. In addition to generating thousands of job opportunities in future, the SEZ shall result in furtherance of real estate. U.S. based Quark has opened its largest Research and Development in Mohali; this is another propelling factor for realty market. In the time to come, it is expected to become country’s major business park.

A state-of-the-art World Trade Center(WTC) is to be opened in the city in near future. This will carry space for commercial units, retail houses, conference rooms, and offices. Another major development that is slated to bring a boost in sales of flats in Mohali is Wave Infratech’s 3000 crore integrated township project. Housing residential apartments, villas, and commercial plot, this project shall take another 5-6 years to get completed. The project shall provide the buyers all avant-grade amenities such as electronic surveillance, earthquake-resistant residential units, and power backup.

As far as price rates of apartments in Mohali is concerned, they vary widely. Kharar Road, Sunny enclave, and sectors 125, 116, a 2 BHK apartment is available in affordable 15-25 lakh price rate. Higher rates are prevalent in sectors 110, 114, 99, 91, 100, and 104.

To know about price rates in Mohali, look through some real estate site.

Buying A Condominium Apartment In Thailand And Transfer Taxes And Fees

Buying real estate in Thailand
Thailand condominium acquisition and conveyance costs, tax and fees
When ownership of a condominium apartment is transferred taxes and fees are collected at the time of transfer by the provincial branch or local land offices in Thailand where the transfer of ownership takes place. Transfer of ownership of a condominium unit in Thailand is subject to the following government fees and taxes:

1- transfer fee at the rate of 2% on the government assessed value
2- stamp duty at 0.5% over the appraised or actual sale price whichever is higher, except in cases where the seller is subject to a specific business tax
3- specific business tax at a rate of 3,3 % over the government appraised value of the condominium or actual sale price, whichever is higher
4- income withholding tax with a different calculation depending if the seller is a company or natural person

Basically 3 different situations exist for the buyer of a condo in Thailand: 1- the purchase of a condo in a new condominium development project registered and licensed under the Thailand Condominium Act, or 2- the purchase of a resale apartment unit from another individual or 3- the purchase resale condominium owned by a juristic person.
When buying from a developer the amount of transfer fees and taxes is limited for the buyer as the developer is by consumer protection laws responsible for all transfer fees and taxes, except he may ask the customer and purchaser of a condo unit to pay up to half of the transfer fees only. Say the appraised value of the condo is 3 million baht the developer may not charge the buyer more than 30,000 baht for the transfer fees as part of the total government transfer fees and taxes for the transfer of ownership registration.
When buying a resale condo from another individual the situation is more complex as there is no fixed rule in the law on how the transfer costs and fees are to be divided between the buyer and the seller. Basically in a private resale of a condo in Thailand this can vary from buyer pays all to seller pays all. How to divide the transfer fees, taxes and costs is simply part of the overall price negotiation between the buyer and seller and it is recommended to clearly include this in the sale and purchase agreement between the buyer and the seller of the condo unit.

Sample calculation

The sample is based on a resale condo with a value of 3,000,000 baht with an ownership of 2 years and 6 months. Note, in the sample calculation we assume an equal sale price and government appraised value. In practice the appraised value is often pretty much lower than the sale value and therefore this calculation must only be seen as a sample.
There is a deduction based on the years of ownership as follows: 1 years = 92% of the appraised value, 2 years = 84%, 3 years = 77%, 4 years = 71%, 5 years = 65 %, 6 years = 60%, 7 years = 55%, 8 years or more = 50%. In this sample calculation the deduction is based on 3 years (2 years and 6 months is 3 tax years) of ownership which comes to a deduction of = 77% x 3,000,000 baht = 2,310,000 baht.
In the sample calcultation personal income withholding tax will be based on 230,000 baht in each year of ownership (i.e. 3,000,000 baht less the deduction divided by 3 (the number of years of ownership).
Income tax rates in Thailand are for income less than 100,000 baht are set at a 5% rate, between 100,000 and 500,000 baht the rate is 10%, between 500,000 and 1,000,000 baht the rate is 20%, between 1,000,000 and 4,000,000 baht the rate is 30%, and over more than 4,000,000 it is 37%. In this cases there is a yearly income tax of 18,000 baht (5% over 100,000 baht and 10% over 130,000 baht). The income withholding tax in the sample situation, to be paid for the transfer of ownership at the time of transfer, is 54,000 baht (based on 3 (tax-) years ownership).
As the condo is owned by the current owner for less than 5 years specific business tax is charged at a rate of 3% plus a municipal tax of 10% over the amount of the specific business tax making this a total tax of 99,000 baht (3.3% x 3,000,000). Note that specific business tax is applied over the selling price or gov appraised value whichever is higher if the property is held less than 5 years. The government transfer fee is 2% over 3,000,000 baht making it another 60,000 baht.

The total amount to be paid at the land office upon transfer of the condo is approx 213,000 baht.
When buying a resale condominium owned by a juristic person the withholding tax is fixed at 1% over the appraised or registered value, whichever is higher, as opposed to personal income tax shall which calculated at progressive rate with a deduction depending on the number of years of possession based on the appraised value of the unit.
Thailand has clear and enforced foreign real estate and condominium ownership restrictions laid down in the law of which foreigners should be aware. Before getting involved with real estate in Thailand read samuiforsale first.

The Bank Of Montreal Is Claiming Mortgage Fraud

The Bank of Montreal estimates it may lose as much as $30 million on a mortgage scheme that involved some of its own employees. The bank is suing a few hundred people including four of its own employees, along with mortgage brokers and, so far, seventeen lawyers in what they allege is one of the largest cases of mortgage fraud in Canadian history.

The Bank of Montreal says its securities department first noticed irregularities in several of their Western Canada mortgages back in 2006. This prompted the bank to hire a forensic accounting firm who spent the next year digging through the details to uncover what was really going on.

The forensic accounting firm realized a rather sophisticated scheme where scammers would chose the worst house in a preferred, established neighbourhood. They would then convince the bank the house was worth much more than it really was due to it’s location, and being as banks rely on software programs to determine house values, the banks would concur. The scammers would then purchase the house and pocket the difference.

To qualify for the mortgages, these scammers were paying unsuspecting people, generally new immigrants $2,000 to $8,000 for the use of their name on the mortgage. Lawyers would then step in and draw up fake documents of earnings, often showing inflated wages and high net incomes to ensure the immigrants would qualify for the mortgages. The legal documents filed by the bank shows the fraud scheme was operated by 14 inter-connected groups that generated approximately $140 million of which $70 million was in fake mortgages.

The Bank of Montreal’s documents also showed that millions of the fraudulent money was sent to countries such as India, United Arab Emirates, Lebanon Pakistan and Saudi Arabia. They also noted that in one instance alone, a home in Calgary that was bought for $900,000 was sold three years later for $2.3 million, netting the scammers a whopping $1.4 million.

A Calgary based management company had documents unravelled by the Bank of Montreal investigators showing 150 suspected counts of mortgage fraud within 16 different financial institutions. The investigators felt this was a clear sign of how inefficient the controls are in the banking system. If you have been the victim of fraud and have had your finances affected because of it, you might want to consider a consolidation loan. If your credit rating has been affected, you still have options to repair your credit and consolidate debts. A car title loan may help get your credit and your finances back on track.

Acknowledging The Facts About The Real Estate Investing Packages And Courses

Every real estate investors have a hardly any things in common. They are commonly not flying by the seat of their pants. There is a program to follow. {Today, we want to supply you with a simple, yet successful real estate investing program to kick start your victory as an investor.|It is our purpose to give you the essentials of real estate investing program

1) Educate You
Up to now in the evolution of real estate investing, there is no basis that learning shouldnt be number one on your listing. It is the basis and of the life and firm you want to guide in the future. Understand programs are all over are captilized on by the well-versed. There is no one questioning if this is right or wrong. How could you come first if you don’t understand your investment method? You cant. And if you dont you will love money.that is not the aim.

2) Network, Network, Network
You attend to it all the time in real estate it is about location. And when you can’t figure that out, just pay attention to the location. Well, this is right, but if you are leaving to be a upright real estate investor and follow a real estate investing program worth its power in salt, then you have to comprehend the essential importance of networking.

Networking is how you are going to find the best offers on the market. Through networking you are going to assemble the people you want to be successful. Networking is how you are going to find the cash compulsory to get your deals done. Remaining optimistic is going to happen by meeting people with upbeat people.

3) Drive
You have to have drive to be winning in any business. Deep-seated down inside, you must think that you are going to be successful.. Take action on your opportunities by taking the nessary steps.. Be resilent. Stick with your goals and dreams when others have fallen to the pavement. Success never comes to a quitter. Stay in the fight and keep your dream alive.

There is always another real estate investment list, but they are the foundation that a person can be flourishing with if they fix to it, prolong their knowledge and progress, while networking with the market place and studying all they can.

Condominium Conversions, Myths And Reality

Let us examine, what the prospects of condominium conversions in the coming years are and how recent trends affect its popularity.

The Popularity
The reason why most people prefer owning a condominium rather than paying rent every month is that they can save a lot of money in real estate investing. All they have to do is to make an affordable initial investment and they can get rid of paying monthly rents. The overall prices are very low. However, Condo units do not allow the buyer to maintain his/her own lawn and garden, and other amenities like pools. But, the overall percentage of such people is very low, and there is a huge number of buyers in the real estate investing market who do not mind the presence of neighbors, and in fact, who love the active participation in community events.

Now, let me talk from the point of view of investors. Real estate investors have got an inexpensive but much more effective way of increasing their bank balance in the form of condominium conversion. True, they do have to pay a premium for the real estate investing properties. Still, the overall cost of purchasing an apartment and turning them into Condos by renovation is far less expensive. Therefore, it is worth paying a premium for properties. Again, the buyers are available in the market and you can convince them easily to buy the same. Eventually, you get a huge return that not only covers your expenditure for the premium but earns you more than you could have earned by means of other real estate businesses.

The Prospects
Recent trends are leading the real estate investing market to a rising-rate environment. It looks like very soon buyers will not be able to get mortgage at low interest rates. Affordability of the price was the biggest advantage with condominium units, but if the price becomes unreachable, how will the converters sell their Condos? Thus, not only will the buyers lose a great opportunity of owning their own house, but even the converts will face a big loss. Since the renovation of the real estate investing property costs much, in such cases, they might also have to bear losses. Eventually, this may force them to stop turning apartments into Condos, and investing in the renovation of the same. It clearly means the end of the Condos conversion boom.

However, all this is not very practical. You should not take it as representing a threat to the Condo conversion business. Even if mortgage rates increase, it will not stop real estate investing buyers to purchase Condos. After all, who wants to pay rent all their life? People want their own houses, and whatever be the circumstances, Condos will still be the most affordable option for them in the contemporary market. In fact, if you look around, converters are highly excited with the heavy returns they have earned from the condominium conversion, and they are in no mood to quit. Moreover, in all the major cities all over the world, it is now almost impossible to find any location for new development, let alone a prime location.

Therefore, the future of condominium conversion is bright, and any rising-rate real estate investing market is not likely to affect the popularity of Condos.

Ghaziabad Real Estate

Ghaziabad is rapidly emerging as a hotspot real estate destination. It is alluring many big builders, developers and investors as all over India the property prices are soaring but here the prices are still within reach. It has become land of opportunities for many big and small builders as it is offering good return on investments. With many MNCs setting up their base in the city, more and more people are migrating here in search of livelihood. Ghaziabad realty market is not only attracting domestic but also global investors.

In recent few years, development in the city is happening at a faster pace. There has been considerable improvement in roads, transport system and infrastructure in the city. Apart from that, well connectivity of the city with Delhi and availability of all basic amenities and lively lifestyle, are some of the reasons why people are moving to Ghaziabad. Also, those who cannot afford to buy homes in Delhi are considering Ghaziabad as an option to remain close to the city because here property prices are quiet affordable as compared to Delhi.

Another factor that has surged the demand of residential property in Ghaziabad is setting up of some good engineering colleges and schools in the city. The city is also emerging as an educational hub and students all over India are coming here for their education. It is also expected that in coming few years many companies more good companies will infiltrate the city thus creating employment opportunities as well as more demand for more homes. Moreover areas like IndraPuram, Kaushambi, Vaishali, Vashundhara, and Shipra are emerging as posh localities of Ghaziabad and many people are looking out for housing options in these areas.

Even though rental prices have soared up in the city the last few years still they are quiet less as compared to Delhi region. In Vaishali, a 2BHK apartment on rent can cost you up to Rs.6000 to 10000 whereas 3BHK can cost you up to Rs.7500 to 12000 and 4BHK can cost you up to Rs.10000 to 16000. In other areas like Kaushambi, Indirapuram, and Vasundhara, the rental prices for 2BHK are Rs.5000 to 12000, 3BHK can cost you up to Rs.8000 to 15000 and 4BHK can cost you up to Rs.10000 to 18000.The cost of rental values can vary depending upon the location.

Ghaziabad property market is boasting high residential property sales and demand for commercial property is also rising. Many new commercial projects are lined up in the city. According to a report ADAEs Reliance Energy will launch a 1000 hectare Special Economic Zone in the city which will bring relief to traders from paying tax, excise and customs duty on buying of commercial property in Ghaziabad. Apart from that SVP Group, is planning to launch two new malls namely opulent mall and Gateway Mall which will house high profile retail ventures and bring more business to the city.

Learn about Anne Arundel County Real Estate

What gets most people that visit the area is the vast coastline. The country actually boasts over 500 miles of beautiful coastlines, which is adequately premium waterfront real estate, which is in extremely high demand. If that’s not enough, then there are plenty of activities available within the local community for all ages. The most popular include the likes of sports and extreme water sports, all kinds of fishing, crabbing and swimming./p>

For the younger people in the area there are two major skate parks which offer both fun and excitement. For the older people in the area there are over 70 country parks which work well with the nature reserves that are also open to the public on a daily basis. Anne Arundel caters for almost all ages and interests, so it is understandable why it is so popular for both residency and vacation related visits.

The only problem with the area is that if you visit, it is likely that you won’t want to return home. Don’t think this is a place for a -party’ retreat, but instead look at it as a place that embraces the good aspects of life. For instance, most mornings the 13-mile Baltimore and Annapolis Trail is a great place to visit. Here you’ll meet a range of hikers, joggers, bicycle riders and of course horse riders. Bird watchers are also a regular occurrence here. This is mainly due to the fact that there are a huge range of rare birds spotted on a regular basis such as heron, egrets and eagles.

If you are looking at purchasing real estate in the Anne Arundel County, then all of the above will aid the decision. If you are looking to move based on jobs and family based activities, then the following will definitely interest you. The local area is jam packed of action filled days and weekends for children and adults alike. There are camping weekends for youths as well as football and baseball home teams, that have had some decent success over the last couple of years. Of course, every year there is an annual Bay Bridge Walk, which is an experience not to be missed.

On the employment side of things, it is just as positive. Over the last few years the growth of employment in the area as been huge and has been recognised as one of the strongest in the state. On the flip side, the unemployment rate is also one of the lowest compared with surrounding areas. This makes it both a great place to purchase real estate and an extremely stable place to be employed.

Because of the desire to live and visit the area, residential and commercial investors are jumping on the real estate ladder. You’ll see a range of properties that have been developed to an extremely high standard. A lot of the properties that have been redeveloped by real estate professionals are available to rent for vacation rentals or even long term rentals. Quick research on local property sites will see the high demand that the area gets. Property prices are steadily rising and as the local residents develop the area to become even more active, it is likely that property prices will see a sharp rise over the next few years, regardless of the economic downturn.

Thanks to ThomasvileHomes.net, builders of Anne Arundel county homes, for this article. Visit their website for more information on the company.