Indian Realestate Strategies
In the recent years Kerala has accomplished much in the spheres of economic and social arena. The state has witnessed infrastructure development and this in turn has given a shot in the arm to the economic development. Kerala has plenty of reasons to cheer this year, what with six of its ministers finding place in the Central ministry. There is hope that their active involvement will bring in more benefits to the state.
A land in Kerala never goes to waste because it offers plenty of agricultural opportunities. Coconut trees, being an integral part of landscape and lifestyle of Kerala, is a great choice to start to. When you are in Kerala, waking up to a breakfast prepared with generous amount of coconut grown in your own land is no luxury. Drink the fresh tender coconut juice, munch on its soft flesh and grate them into curries. Other avenues open to you are rubber plantations or paddy fields. Real estate is a good area to invest money in current scenario.
The highest priced area is M.G Road Kochi. The assessed fare value for this area is 10 lakhs / Cent. The lowest is Rs 5000. As for, when this would be in effect is not known. I do not believe that bothers any one as it is going to be pretty much same as today.
The comprehensive notification for the fair value of land will help to root out corruption at sub-registrar’s offices. The registrar will have no power to revise the value after it has been registered. Sub-registrars, at present, are empowered to revise the land value after registration. Another salient feature is that the system makes it easy for the government to determine government-owned land based on survey numbers.
Stamp duty is expected to come down. As of now, the stamp duty at the corporation level is 13.5 per cent; municipality, 12.5 per cent; and grama panchayat, 10 per cent.
Copies of the Gazette have been made available at the offices of the RDO and sub-registrar, taluk office, village office and local body office. The public will get 60 days to file complaints or make suggestions.
The base of Indian real estate market, growing at 30 per cent, is likely to touch $90 billion by 2015 from $14 billion at present. This pace will help the economy sustain its growth between 9 and 10 per cent, said an Assocham report.
The additional requirement of 370 million sq ft of space in urban areas by 2010 by sectors like IT, ITeS, financial services and organised retail alone has made the real estate most lucrative, providing returns ranging from 20 to 30 per cent.