Vakil Daffodils completed before time! Registrations on full swing!

Vakil Daffodils completed before time! Registrations on full swing!

Real estate market in Bangalore has many horrifying stories of customers complaining. They end up paying EMI and rent both at the same time because of delay in construction.

Where many people are giving up hopes of getting possession of their homes on time ; We are glad that we have kept our commitment yet again.  Our motto has always been customers first and our team has just proved it once more.

We are delighted to announce that the construction of Vakil Daffodils is over before time and we have started with registrations of the property.

Registering the property in ones name is a moment to cherish for every home buyer. We made sure that this special occasion in their life was made memorable so that they could preserve it always.

This time we had Mr. Mohsin Ali Vakil, Chairman of Vakil Housing and Mr. Purushotham Reddy, CFO congratulate the customers for owning a flat at Vakil Daffodils.

We have captured some pictures of these moments to share with you

Mr. Mohsin Ali Vakil (CMD) handing over gifts to Mr. & Mrs Hari Mangal Singh, VDD – A 202

Mr. Purushotham Reddy handing over gifts to Mr & Mrs. Kuruvila. VDD -E 029

 

 

Mr. Purushotham Reddy handing over gifts to Mr & Mrs Shubashish. VDD -A 101

The perfect picture of our Happy Customers with Vakil Housing Team

 

 

 

 

 

 

 

 

 

 

 

 

 

Here’s what our customers had to stay after their registration :

The journey for searching cost effective house have been never so easy. The Vakil team has been fantastic overall approach towards converting our dream into reality. Me and my wife are happy to be the customer of Vakil group. Last but not the least I have found the Vakil group very much ethical in their approach which is difficult to find in today’s real estate.                                                                                                                 

  -Shramik Vats, Vakil Daffodils A-204

This is my first property purchase in India and am greatly impressed by the professionalism and politeness of all Vakil staff. Their enthusiasm was infectious and knowledge of their subject excellent. My wife and I are also reassured that Vakil would take care of all legalities which is a great burden off our mind allowing us to concentrate in planning our move. I for one would certainly recommend Vakil to anyone who is looking to buy properties in Bangalore. Thank you Vakil Constructions.

 -Amit Halder, Vakil Daffodils A-103    

We feel motivated when we receive such feedback,  we will continue to do our best to bring happiness to our customers and make their home buying journey easy.

Vakil Daffodils – Car Parking Allotment

Vakil Daffodils – Car Parking Allotment

We reached another milestone, a very important one!

We completed the construction of Vakil Daffodils before time and soon we will start with the registrations of flats in the name of owners.

Recently in April we did the car parking allotment for all owners of Vakil Daffodils at Vakil Whispering Woods Clubhouse.

We had a lottery system for car parking allotment, where we will put the numbers in a bowl and each customer will come and pick a chit. More than 80+ customers came with their families to pick their Car Parking number.

On behalf of those who ​were not present, two owners Mr. K. Navaneetha Krishnan ​(Flat No.D 023​)​ & Mrs. Shamla Balalji (Flat No.E 129)​ volunteered to draw from the lot​.

Here’s a small video that gives a glimpse of the event.

These little moments become tomorrow’s precious Memories.

Vakil Daffodils are 2 & 3 BHK Apartments, just 10 minutes from E-City.  Enjoy your apartment with Free Furnishing which includes Queen Size Beds , Wardrobes, Kitchen Cabinets and many more .

Vakil Daffodils has a long list of ready amenities in a 120 Acre Township.

 

Make Hay while it Rains – 5 Reasons Why Monsoons are the Best Time to Buy Property

Make Hay while it Rains – 5 Reasons Why Monsoons are the Best Time to Buy Property

umbrella_home_7178When the sun doesn’t shine and it’s raining buckets, you’d be surprised to learn that if you headed out for a site visit and actually decided to buy an apartment, you’d be at a huge advantage.

Most people don’t even feel like stepping out of their homes during monsoons when the rainy weather turns the roads into slush and there’s mud everywhere.

But put on your raincoat and wear your waterproof shoes if you’ve been planning to buy an apartment. Let us tell you why.

 

1. It’s pure economics – fewer buyers so builders more eager to sell

Builders are under constant pressure to sell the apartments they’re building. Monsoons dry up the list of prospective buyers and this frustrates them no end. So if you decide to buy an apartment now, there are better chances of negotiating with them for a better deal.

They become more flexible when it comes to payments and you can definitely get a better price on the apartment. Builders are also more open to giving discounts or other freebies which you might not get otherwise.

This is also the best time for you to try and get the kind of apartment you’ve always wanted, even if it’s above your budget because negotiation with builders is easier during the monsoons

2.  When timing matters…to other people

Monsoons coincide with the month of Ashada and even Pitrupaksha which is considered an inauspicious time to buy something as life changing as a home. Due to this, builders see a lot of fall in sales. Take a beat. Think about this carefully and consult with others at home.

If you or your family are not finicky about this, then it’s actually a good time to buy because builders will be happy to offer you a deal that you like, just to ensure a sale takes place.

3. Rain reveals the true colors

The beauty of the rains is that they wash everything in sight and you can see what everything is like. After a couple of heavy downpours, the reality of the apartment you plan to buy will emerge.

Whether it is external or internal paint, locks getting stiff, doors and windows not shutting, water leaks and seepages, you get a clearer picture of the general construction quality of the home you plan to buy.

4. The reality of the neighborhood

Monsoons are also the best time to judge the reality of the situation, the neighborhood and how it changes during monsoons. Do the roads get flooded? What about the traffic? Does it become worse?

What is the condition of the approach roads? Does the basement car parking get flooded? You will get answers to all these questions during the monsoons and it can make all the difference between buying or not, once you see it then.

5. Going against the tide helps

During monsoons, people prefer to stay warm and cosy indoors and don’t head outside as far as possible. Site visits are practically non-existent. Going against the tide has many benefits and all of them involve you saving money while still getting the home of your dreams.

Key Takeaway

Don’t make the mistake in thinking that you can get started on your apartment hunting once the rains have let up. Despite being an uncomfortable proposition, remember that the monsoons give you an advantage and builders will be willing to negotiate and you might get the deal of a lifetime. Don’t hesitate just because the rains are pounding the city. Make your move now!

5 Ways the Real Estate Bill will Offer Confidence & Safety to Home Buyers

5 Ways the Real Estate Bill will Offer Confidence & Safety to Home Buyers

Auction.

Many times Home buyers get the short end of the stick when it comes to dealing with builders and real estate agents.

The unfortunate truth is that many buyers have faced similar numerous problems and this has given the entire transaction a bad name.

 

Whether it is delayed projects, poor construction quality, delayed possession, diversion of funds or even arbitrary change in layout plans, most buyers have faced this and accepted this as the grim reality, in silence.

This was because there was no regulation in place for builders and no standardization as such. If any buyer wanted to take up cudgels against a builder, they had to opt for legal recourse, which is expensive, time consuming and definitely not easy.

But times are changing.

With the passing of the Real Estate (Regulation and Development) Bill in the parliament, home buyers will find a much more positive atmosphere.

Here’s a quick look at how buyers can benefit from this bill and what it means to the real estate industry.

1407822No more shady projects where buyers lose money and peace of mind

Builders will no longer be able to launch projects at their whim. Before they can launch a new project, the Bill will ensure that they have to get clearance from the relevant regulatory and Planning Authorities and only then, they can go ahead.

This means that buyers will invest their hard-earned money into legitimate projects only. Also, the pre-launch discount option, which is mostly a marketing strategy to get more buyers will also have to make way for reliability. Fly-by-night operators will not be able to survive this stringent clearance policy.

1408990Buyers are secured because their money cannot be diverted to other projects

One of the biggest grouses that buyers have, is that builders divert the money they receive from them towards newer projects. However, once this Bill becomes a law, then this will not be possible.

The Bill states that money from buyers has to be deposited in a separate bank account, and 70% of that money has to be utilized in developing and completing the project in question. This will definitely reduce delays in the project.

1511274No more surprises as builders have to ensure final project matches advertisements

Often, buyers are tempted into investing into real estate, because they see the wonderful ‘artist’s depiction’ of the project that is being planned.

Also, most builders release snazzy advertisements and their marketing plans are enough to floor even the most hardened buyers.

But what happens when expectations don’t meet reality? When the advertised home doesn’t match what the buyer finally gets? Crushing disappointment and a sense of being taken for a ride.

However, once the new Bill is in place, builders will have to return the amount to the buyer, with interest, if the final project doesn’t match what was depicted. This will definitely put a stop to reckless promises from builders as they have to tread carefully.


1530243
Buyers can verify prior construction projects to check quality claims

At times buyers are unable to verify the claims of the builders regarding their quality. This will no longer be the case once this bill becomes a law.

Home buyers will be able to verify the quality of the builder’s prior constructions because the bill makes it mandatory for developers to provide details of projects launched in the past five years.

This includes a brief detail of the projects launched by the promoter,in the past five years, whether already completed or being developed, including current status of projects, delays in completion, details of cases pending, details of type of land and payments pending etc.

This means that buyers can now make an informed and wise decision before choosing the builder for their dream home.

 

1566391An extended repair period to ensure continued support from builders

Face it. This has happened with most buyers who take possession of their home and a couple of years later, find that paint is peeling or there are leaks in the pipes. The honeymoon period is over because buyers were liable for repairs for 1 to 2 years.

But with the new Bill, this will also change. Builders will be held liable for any structural defects up to five years now, to ensure that they will make the necessary repairs.

So far, so good. This pro-buyer bill doesn’t spell a death knell for builders. It just streamlines processes that have been all over the place until now and ensures that both parties are satisfied.

In the bigger picture, regulation for builders makes housing more affordable for everyone and that is certainly a good thing.

 

What’s in store for home buyers in 2016?

What’s in store for home buyers in 2016?

As the first month of 2016 comes to an end and as we power through the first quarter of the financial year, now’s the time to evaluate, introspect and look at property forecasts for the year.

The last two years have changed the status quo for the real estate sector, with home sales being rather dismal.  Inventory has been piling up and investors, though keen, have been following a wait-and-watch policy.

But it’s a good enough estimate that things will change this year, for the better. Let’s take a look at what the Indian home buyer can look forward to, in 2016:

Prospective home buyers will not stop at just inquiries: The last two financial years have seen a massive rise in the number of inquiries. This could have stemmed from stagnant prices, smaller unit sizes being available and reduced interest rates, thanks to RBI.

Realty companies also adopted innovative marketing practices, such as selling through popular e-commerce portals like Snapdeal.com & Amazon.in etc. For the potential home buyer, all these micro-economic factors have consolidated and will work favorably for them.

Hence, there could be a balance in the demand-supply situation, reducing inventories across the board in most cities. Home buyers will definitely rethink their stance on inquiries and take it to the next step.

Easy Payment Plans will make home buying an attractive option: Realtors and financial institutions are ensuring that advantages are in favor of buyers.

Several innovative schemes are coming into play right now:

  • Customized payment plans: Buyers can modify payment schedules according to their convenience. While this may result in a marginal increase in the price of the project, it works out beneficially for the buyer.
  • Schemes that work for buyers: The two popular versions right now are Construction Linked Plans (CLP) and Possession Linked Plans (PLP). These are offered in ratios such as 20:80, 30:40:30 and 5:85:10. The PLP 20:80 scheme is popular among home buyers, and many also opt for the 30:40:30 scheme for popular areas. For those who can get a good deal from banks – the 5:85:10 works ideally.
  • Reduced Pricing: Many builders with a huge inventory on hand are offering options of purchasing a 3BHK at the price of 2BHK. This is a relatively new scheme, but perfectly suited to today’s buyer.
  • Besides these, there are also discounts based on referrals and loyalty schemes. Cash back offers and  the no-EMI scheme are also popular. Some buyers are even offering a fully furnished home as well as additional car park spaces. Such schemes are bound to go up during the festive seasons this year.

More affordable units:  Over the last two years, builders have progressively moved towards aligning themselves with market requirements. This is why we are witnessing an increased supply in the mid-segment apartment range. These are primarily in the Rs 25- 40 lakhs price range and are available in Tier-I cities. Converting 2BHK homes into 1BHK models with basic amenities is also on the rise, ensuring there is balance of home spaces.

Real Estate (Regulation and Development) Bill (RERD Bill) 2013: For the last two years, the Government of India has been under immense pressure to pass the RERD Bill. The immediate benefit for potential home buyers if this bill is passed, would be the establishment of a real estate regulator, independent of the government.

A Real estate developer can register only if they deposit 70% of amount received for a project in a single bank account, and this amount has to be used for the purpose of that project only. This will act as a safeguard ensuring the project is completed on time and that the buyer’s money is not locked indefinitely.

Pro-Growth Movements:

Housing for All initiative: The Housing for All by 2022 is an initiative of the Prime Minister, Narendra Modi and is aimed at urban centers with the following agenda

  • Slum rehabilitation with the help of realty developers
  • Promotion of affordable housing options for the poor through a credit linked subsidy
  • Creating affordable housing with the help of the Public and Private sectors
  • Subsidies for individual house construction or enhancement if beneficiary-led

Smart Cities Mission: The Smart Cities Mission is an innovative initiative by the Government aimed at enhancing economic growth and improving the quality of life of people. This will be done by promoting local development and harnessing technology for the benefit of citizens. A 100 such cities have been identified and the focus will be on the development of core infrastructure. In the long run, this will have a positive effect on the growth of realty in the region.

Make in India: Indian Prime Minister Narendra Modi launched his ambitious “Make in India” program last September. This was aimed at bringing down barriers for international companies to do business and to promote foreign investment. The idea is to transform India into a manufacturing powerhouse. This is a move in the right direction considering the increase in FDI in the recent month. Data shows that industrial production is up by 2.7%, up from a dismal 0.6% in the previous year.

GST: The impact of the impending GST Bill across various sectors will be undeniable, ensuring transparency and better markets for international brands doing business in India. All this will translate to a better real estate industry.

So if 2015 was not really your year to buy a home, 2016 promises to have a lot in store. 

What Matters Most : Location or Property ?

What Matters Most : Location or Property ?

location_locationIt was a pleasant family get together over the weekend at my friend’s home located in the Central Business District (CBD). Satiated after lunch, everyone picked corners to settle down and start the conversation.

My friend and I were nursing our coffees when the talk took towards investing in a new home. I was a bit taken back that my friend was considering a new investment.

Here he was, located in the heart of Bangalore city, looking to find another home in Electronic City, the upcoming IT hub. Why? It’s because…his job requires him to be there through most of the week.

His wife has a job in the same vicinity and they have their child admitted to a school close to their office for convenience of pick up and drop.They had purchased their home in the CBD over a decade ago and today, the relevance of its location has changed for them.

This led us to think on how relevant the location of where you purchase your house is. So, buying a new house is not just about finalising the property anymore.

With newer infrastructural systems coming in place – highways, ring roads, flyovers, bridges as well as the Metro trains, distances are becoming shorter and perhaps the focus on amenities like living in ‘green’ corridors and other such factors are gaining significance.

So, the final decision of purchase depends on your personal needs. If you are unsure of whether the property is more important or the location, here are some points to consider:

  • There is More to a Location than Geography: Yes a good location is about being well placed from office, school and other facilities, but it is also about being placed in a safe neighbourhood.It covers the aspect of you being among like-minded people, good civic facilities and in an area which has appreciation potential. You have to remember that you can always change the way your property looks, but there is scarcely any scope of changing your location once the purchase has been made.
  • The Right Location Can Be a Money-Saver: If you plan to buy a home in an upcoming location to save on money, this may not be a good idea. You may spend on several additional things to bring the property up to your standard of living.Instead, investing in a property in a more central location in relation to your needs may help you save money on other aspects.

These two considerations bring us down to the fact that location, though still important has several more meanings to it today. Here are some aspects associated with it:

  • Geographic location
  • City or Suburb and where you would like to be placed
  • Neighbourhood and safety for your family
  • Proximity to school or office
  • Proximity to medical facilities (especially when you are living with senior citizens)
  • Proximity to friends for socialization opportunities
  • Entertainment options
  • Society’s viewpoint of the location. Location may also be perceived as a status symbol

There are several aspects for you to evaluate when you are examining the location of a potential property. Trying to understand what your needs may be in the short and mid-term will help you make a better decision on the location of your home.

Take-Away

  • Location, though important even today, has several new aspects to evaluate
  • A property may be modified, but a location cannot be
  • Placing your personal needs, current and future in perspective will help make a better decision on location.