books on real estate investing in india
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Books on real estate investing in india havens investing partners ltd

Books on real estate investing in india

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With so many properties and burgeoning localities out there, finding the quintessential home for your family is like searching for a needle in a haystack. Let us help you with a list of the best real estate investment books that are guaranteed to keep you hooked from cover to cover and give you the clarity you are looking for.

Investing in Real Estate — How to Make Money and Save Tax This amazing read authored by Subhash Lakhotia, explains the challenges involved in real estate investment in a very simple and straightforward manner. The book is divided into commercial and residential real estate investment to give the reader a closer insight into both the aspects of the sector. Whether you are contemplating investing in an apartment or villa or looking for a new office space for your firm, read on for in-depth knowledge and helpful tips.

Real Estate Investing — 7 Ways Anyone Can Use to Make Money in Real Estate Apart from highlighting the investing strategies involved in buying a property, this book also provides insights on the various methods one can use to generate as much income as possible through your investment, including the pros and cons of buying vs renting a property. Written by renowned author Mark Atwood, it is one of the best real estate investment books you will come across.

Real Estate Investing for Dummies As the name suggests, Real Estate Investing for Dummies is an insightful read for those who are comparatively new to property investment. Industry experts Robert Griswold and Eric Tyson leave no stone unturned in providing readers with a better understanding of the long-term benefits of the property sector and guidance on how to pick the right development for your investment. Unlike other books on real estate investment, this stunning read offers collective insights of over investors who have succeeded in becoming millionaires by investing in the property sector.

The fact that the strategies presented in the book have already been tried and tested makes it stand out on any bookshelf. What Every Indian Should Know Before Investing - edition This lovely read by Vinod Pottayil helps readers understand all the sectors of investment from gold and mutual funds to real estate. The comparative analysis provided aids investors in weighing the benefits and drawbacks of their investments with helpful pointers on how to save taxes using your home loan and the various insurance policies involved.

The latest edition of this series also throws light on how to manage finances in a simple and lucid language. As the name suggests, this publication provides readers with the basics of real estate investment from the financial aspects to the marketing strategies. It covers all the facets of the real estate industry including insights on the recently-implemented RERA and GST bills and its impact on the Indian economy.

The Guide to Property Investing This book truly lives up to its name of being an extensive guide when it comes to investing in real estate. In this book, McElroy speaks about partial ownership of properties and the benefits of splitting costs through partnership investments. He also dives a little into property management, techniques to maintain a regular cash flow, calculating potential incomes from investments, and learning how to assess properties. In this book, however, David Greene quashes the stereotype of home-state investments being better or safer.

He speaks about the benefits of investing in unfamiliar territories that are far from your residence and is thus a great read for those looking to expand their real estate portfolios. The reason why this guide made it on our list of best real estate books is that the author clearly explains how to identify neighborhoods quickly where you can invest. Additionally, he also sheds light on how one can find great deals and renovate the projects in any state without any worries or complications.

Whether you are a new real estate investor or want to invest in a second home for vacation or retirement purposes, then this is a must-read book for you. Through this guide, you will be able to make a sound decision on choosing a second home and a location with maximum appreciation potential. It will also help you understand that how a vacation home can be used as a cash cow rental.

Property management and rental property investment are deep subjects with a direction of their own. Using capital to buy income-generating properties is one thing, but managing various real properties is completely another. Some of the best real estate books that may help you understand the two concepts better are:. If you need proven, practical, and actionable advice on how to invest in income-generating assets, then Real Estate Investing For Dummies is your go-to resource.

From property valuation and making long-term investment plans, the book provides a comprehensive overview of the real estate market. The strategies and tips offered in the book will make it easier for you to make informed real estate investing decisions that reap big rewards. This book serves as a comprehensive guide for people who are interested in learning how to get the most out of rental property investment.

This includes, but is not limited to, the strategies of finding the most ideal rental properties in competitive markets and following best tenant retention practices. Additionally, the author has also provided actionable ideas on financing rentals. This book covers aspects of day-to-day property management such as how to find and screen tenants the right way and creating lease agreements efficiently.

Counted amongst one of the best real estate books, the author emphasizes minimizing capital expenditure and risk while earning a stable and high rental income through a property in a good neighbourhood. This book is very comprehensive and includes tips for all participants in the real estate industry. It provides strategies to boost rental income, help increase the value of the rental property, handle tenant issues and handle cash flow and rent collection.

It is a must-read book for property management. This book relies on case studies and imparting situational knowledge through examples. It helps its readers gain ample knowledge on property maintenance, accounting, and finance as well as handling administrative and legal activities.

It is extremely extensive and provides information in an easily perceivable manner. Have you ever kicked around the idea of investing in an income-generating real estate asset but either found it tedious or confusing? Then One Rental at a Time is a definitive guide that you need to add to your cart. This book serves as an excellent read for those who are looking to build for themselves a solid real estate portfolio. It provides strategies that will help you invest in rental properties, become financially independent and gain maximum profits out of it.

As the markets and customer needs evolve, learning and staying abreast with real estate marketing techniques becomes crucial. Plus, in this digital age, where homebuyers can easily explore a plethora of properties at the comfort of their homes, learning tried and tested techniques of generating quality leads will be fruitful!

We bring to you the 4 best real estate books that cover various facets of marketing in the sector. In this book, the author primarily takes his own example of a real estate agency to inspire, teach and motivate the aspiring real estate agents reading the book.

He emphasizes and propagates the STP framework of realtor Marketing — Segmentation, Targeting, and Positioning — which is a framework he himself used, whilst also helping readers find their own stride to sell more properties on their own.

The author of the book, Brandon Doyle, is a renowned real estate agent and was one of the firsts to use digital marketing to expand his business. Even in this book, Doyle deliberates on the importance of keeping up with the constant changes in technology and equipping oneself with the upcoming tools of marketing, to always be visible and maintain prominence.

The strategies that he enumerates in this guide make it one of the best real estate books. In this book, Gary Vaynerchuk lays emphasis on the importance of the ever-changing and dynamic social media which has broadened the base and audience of the real estate market. He couples the vitality of being equipped and enhanced in the use of social media with the timeless prominence of authenticity and establishes a unique mode of real estate agency technique that is worth checking out.

Whether you have just started a real estate business or an experienced agent, Prospect is a go-to-book for understanding the importance of prospecting. From marketing expired listings to selling new properties, the guide presents you with the rationale for each strategy. It enumerates principles and specific action plans for building your pipeline effectively.

Therefore, just like real estate, books will always make a great investment. Moreover, by learning and implementing tried and tested methods, you can save a lot of time avoid unnecessary expenses. Save my name, email, and website in this browser for the next time I comment.

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The seller is under a duty under Section 55 1 a of the Transfer of Property Act, to disclose all material defects in the property or his title in the property, which the buyer, as an ordinary prudent man, could not have known. Accordingly, the seller can be liable for misrepresentation or failure to disclose material defects in his title, etc. Additionally, criminal misrepresentations and fraud may also get attached depending on the nature and type of misrepresentation.

What would be the scope of these? What is the function of any such guarantee or warranties e. Would any such guarantee or warranties act as a substitute for the buyer carrying out his own diligence? The sellers of real estate usually provide representation, warranties, and covenants relating to their competence to sell and their clear and marketable title to the property.

Standard warranties sought by the buyer also include warranties about the absence of any dispute or ongoing litigation involving the property, the property being free of all encumbrances or claims including third-party claims, e. The purpose of warranties is to give legally binding assurances to the buyer, and if a warranty if found to be false, a claim for damages or other legally permissible reliefs shall lie against the seller.

Though the seller is bound to disclose necessary information about the property and his title, the buyer must also exercise due diligence at his end and investigate the title and existence of any encumbrances independently. Notice may be of two types: Actual Notice; and Constructive Notice. The buyer is said to have Constructive Notice of any such defect, if any such defect is reasonably ascertained through perusal of documents that are publicly available e.

To the extent that the buyer has actual or Constructive Notice of any such defect, it may have an implication on the enforceability of any corresponding warranty given by the seller. Thus, it is necessary for the buyer to have conducted his own independent legal due diligence in relation to the property. Also, under Section 55 of the Transfer of Property Act, , the seller has several duties, such as to disclose to the buyer any material defects, to answer questions of the buyer, to execute a proper conveyance and to pay all public charges and rent accrued due in respect of the property.

Some duties of the seller transcend beyond the execution of sale, such as: transfer of vacant and peaceful possession of the property; safe-keeping and handing over of title documents to the new buyer; and payment of arrears of taxes, statutory dues, etc. In the event of misrepresentation of capacity or entitlement to transfer the land, the seller may be held accountable on discovery of such defect or absence of power to convey.

Subject to the terms of a contract, Section 55 5 and 6 of the Transfer of Property Act, provide for the rights and liabilities of a buyer in addition to payment of the sale price. There are elaborate regulations concerning the lending of money to finance real estate. The RBI provides binding guidelines from time to time to various agencies engaged in lending to the real estate sector. It is permissible for commercial banks to extend credit to private builders on commercial terms by way of loans linked to each specific project.

Banks, however, are not permitted to extend fund-based or non-fund-based facilities to private builders for the acquisition of land even as part of a housing project. The period of credit for loans extended by banks to private builders may be decided by banks themselves based on their commercial judgment subject to usual safeguards and after obtaining such security as banks may deem appropriate.

Banks must ensure, through close monitoring, that no part of such funds is used for any speculation in land. Projects undertaken by public sector entities which are not corporate bodies i. Typically, such developments take place through joint ventures, where the foreign investor invests and procures equity in a land-holding or development rights holding Indian entity.

It would be beneficial to have a broad overview of the rules and regulations applicable to non-resident persons for investment in real estate in India:. Under the automatic route, the non-resident investor or the Indian company does not require any approval from the Government of India for the investment. Each phase of a construction development project is considered as a separate project and is subject to certain conditions.

The investor is permitted to exit on completion of the project and in case of a project relating only to development of serviced plots, upon the development of trunk infrastructure, i. A foreign investor shall be permitted to exit and repatriate investment before completion of a project under the automatic route if a lock-in period of three years calculated with reference to each tranche of foreign investment has been completed.

The Indian investee company is responsible for obtaining all necessary approvals such as building plans and other infrastructure facilities. There are also norms for minimum capitalisation of the investee company through FDI. As mentioned earlier, FDI is not permitted in an entity which is engaged or proposes to engage in real estate business trading , construction of farmhouses or trading in TDRs.

Depending upon the extent of security needed, the lender may also seek charge over other assets of the developer as well as the proceeds of the development. Are there any options for a mortgagee to realise a mortgaged property without involving court proceedings or the contribution of the mortgagor?

When a mortgaged property is to be realised by the lender due to default by the borrower, he may take recourse to Order 37 of the Code of Civil Procedure, which provides for a summary procedure. Also, as per the provisions of the Transfer of Property Act, a lender has the right to foreclosure or sale of mortgaged property to realise dues as against such property. As per Section 67 of the Transfer of Property Act, , providing the right to foreclosure or sale, the mortgagee has, at any time after the mortgage-money has become due to him, and before a decree has been made for the redemption of the mortgaged property, or the mortgage-money has been paid or deposited, a right to obtain from the court a decree that the mortgagor shall be absolutely debarred of his right to redeem the property, or a decree that the property be sold.

Apart from the aforesaid proceedings under the Transfer of Property Act, Indian law also provides for the Insolvency and Bankruptcy Code, IBC , wherein if any corporate debtor commits a default, a financial creditor, an operational creditor or the corporate debtor itself may initiate a corporate insolvency resolution process in respect of such corporate debtor in the manner as provided.

However, there is also an option to realise a mortgaged property without involving court proceedings in order for a speedy recovery. If the borrower fails to pay such outstanding amount within the prescribed time period, the lender can initiate recovery proceedings without the intervention of the court. Under the IBC, any claims against the borrower are entertained on the basis of the hierarchy of claims.

The most effective way of protection against the claims by other creditors is to create the first charge on the concerned property in the name of the lender. Such charge created in a property would normally have priority over all others and may be enforced even in the absence of the consent of subsequent creditors. The sale of the assets of the liquidation estate will be distributed in the waterfall mechanism manner and in a priority set out in Section 53, IBC, such as:.

Section 17 allows any person including a borrower , aggrieved by any of the measures taken by the secured creditor or his authorised officer to make an application before the Debts Recovery Tribunal DRT. The following rights can be enforced by the borrowers:. The recoveries under the Indian regime of the IBC, will be governed by the insolvency process itself.

The borrower shall not be permitted to bilaterally negotiate or recover or enter into any kind of agreements with the corporate debtor pursuant to the commencement of the insolvency process. Does a lender have a right to appropriate shares in a borrower given as collateral? If so, can shares be appropriated when a borrower is in administration or has entered another insolvency or reorganisation procedure? Upon enforcement of security over the shares pledged by a company to a lender, the lender shall have the right to receive all amounts payable in respect of such collateral or to sell such shares without the intervention of the court and without any consent of the pledgor at public or private sale or vote on any part in connection with the collateral or to receive all dividends, interest and other distributions made in respect of the collateral and otherwise act as though it were the owner thereto and apply the aforesaid proceeds towards payment of the outstanding amounts owed to the lender.

In the event of insolvency of the company, the financial creditor shall enforce its security interest in the company and such amounts which remain unpaid following such enforcement shall be paid to the creditor from the proceeds of the insolvency. How much? Who is liable? Presently, the levy of Goods and Services Tax GST is limited to the activity of construction of a complex, building, civil structure, including a complex or building intended for sale to a buyer and over land and buildings in terms of the existence of any lease, tenancy, easement or licence to occupy land.

Therefore, the sale of existing land and immovable property simpliciter is not subject to GST. Typically, the sale of land and immovable property is subject to stamp duty levied on the instrument of transfer and registration charges. However, stamp laws are administered under the Indian Stamp Act, and various State stamp acts and rules. Stamp duty charges in India differ from State to State.

It may vary further if the property is within the Municipal Corporation, Municipal Council, Gram Panchayat limits, etc. Stamp duty is encapsulated in the schedule attached to the Indian Stamp Act. Reference may be made to the Indian Stamp Act Section 29 for visibility on who pays stamp duty. In general, in the absence of a contract to the contrary, the obligation to pay the stamp duty is on the buyer. Further, in various States, certain rebates are offered where the buyer of the property is a woman.

Under the income tax laws, a seller of an immovable property is required to pay short-term or long-term capital gains tax on the gains of the sale of an immovable property. Whether the transaction qualifies for a short-term capital gains or long-term capital gains, depends on the period for which the seller owns the property before the transfer. There are detailed regulations in this regard. It cannot be paid on a date subsequent to such date of transfer.

Registration fees as under the Indian Registration Act, are paid subsequently to the payment of stamp duty pertaining to such transfer. Section 45 of the Income Tax Act, contains provisions with respect to any profits or gains arising from the transfer of a capital asset affected in previous years and shall be chargeable with income tax under the head, capital gains.

The capital asset includes property of any kind or any securities held by a foreign institutional investor which has invested in such securities in accordance with the regulations made under the Securities and Exchange Board of India Act, 15 of Are there any exemptions? No, transfers of real estate are not subject to VAT. Real estate, excluding the sale of existing land and building simpliciter , is subject to the levy of GST. Generally, the liability to pay GST falls on the supplier of the goods and services.

In the case of the supply of real estate, it is the developer or builder who is liable to pay GST on the consideration charged from the buyer. Capital gains tax would have to be paid by the seller on the disposal of the property. It is charged under Section 45 of the Income Tax Act, and it is deemed to be income. It is taxed in the assessment year immediately after the preceding year in which the immovable property was transferred. The other taxes that would have to be paid by the seller on the disposal of a property in addition to income tax include: stamp duties; registration fees; and GST, etc.

Along with this, local taxes may be levied that may differ from State to State. From a tax perspective, long-term capital gains arising on a sale of equity shares through the recognised stock exchanges in India are exempt from tax, provided Securities Transaction Tax STT is paid.

All other gains on sales of assets are taxable. In addition, stamp duty and registration fees with respect to the instrument of transfer are to be paid. Before purchasing a property, one should confirm as to whether the property in question is of a commercial nature or residential as per the Development Control Regulations. Other things to be considered may include set-back for road widening, heritage rules, etc.

In addition to the above, the Central Government is in the process of setting up model laws of tenancy for States to follow in consonance of changing the paradigm of the rental environment in India. Section of the Transfer of Property Act, defines a lease as a transfer of right to enjoy property for a certain period expressly or impliedly or in perpetuity, in consideration of a price paid or promised to be paid to be rendered periodically or on specified occasions.

In leases, residuary or reversionary powers are vested with the owner; thereby, on determination and termination of the lease, the property reverts to the owner. A business lease is a type of lease. There is no separate codified law specific to business leases, and laws relating to leases apply. In India, business leases are usually term-based and would have a specific time limit on expiry of which the lease concludes. Unlike residential leases, business leases are generally of a longer duration.

Business leases are characterised by higher rentals, incubation period leases, strong representations and warranties, strong positive and negative covenants, lock-in periods, default situations, termination clauses, security deposits, etc. Business leases also take the form of a sub-lease where the incumbent sub-tenant is bound by the terms of sub-lease deeds and master lease deed. The terms of business leases are in the realm of a private contract and may comprise a full-service lease, percentage lease, step-up lease, straight lease and others whereby tenants may be obligated to pay and discharge rents, property taxes, insurance, taxes, maintenance, utilities and the like.

Sometimes, a tenant may make capital investments and therefore require a long-term lease. Business leases, in general, are negotiated leases for a longer period compared to residential leases. The lease deed contains an escalation clause whereby lease rentals are increased annually or on terms as mutually agreed. In practice, residuary rights of ownership and transfer are vested with the owner and there are restrictions on sub-leases by the tenants.

In certain instances, the tenant may be entitled to assign its rights, but these rights are generally subjected to the permission of the owner. Tenants may be obligated to ensure the premises are insured and ensure that they are reasonable and can be satisfied.

Under the scheme of amalgamation right of tenancy and occupancy gets vested in and becomes the property of the Transferee Company. In practice, day-to-day repairs fall under the obligation of the tenant and structural repairs by the owner. However, almost always urgent and structural repairs are conducted with intimation to or consent of the owner.

These restrictions may also include exclusive items that cannot be carried on the premises specifically. In addition to the same, there may be taxes which are particularly liable to be paid for the kind of business carried out by the tenant.

Further, the landlord is also required to pay the property tax for the premises owned by him. Are there any special provisions allowing a tenant to extend or renew the lease or for either party to be compensated by the other for any reason on termination? The termination of a business lease depends on the commercial understanding between the parties to the agreement and is specifically included in the contract.

The terms and conditions of the agreement are to be considered in this regard. However, normally, business leases can be terminated on the following grounds:. Can they be responsible after the sale in respect of pre-sale non-compliance?

The past obligations may continue to remain the responsibility of the erstwhile owner, but such course is determined contractually. All such commitments forming a part of a legal and valid contract are enforceable in their entirety and in part before a court of law. Co-working spaces are developing across Indian metros as well as Tier-II cities, providing flexible working options. There are over shared workspaces with over , seats across the country. The area under co-working space is currently around 15 million sq.

The concept of shared residential spaces is at a nascent stage in India; however, there is a growing interest and trend towards it. The commercial real estate industry has been reinvigorated by the co-working industry. In general, the laws do not differ if the premises are intended for multiple residential occupiers.

Length of term is contractually determined. They are generally of a short duration. As leases for a duration of less than one year are not compulsorily registrable, tenants often enter into leases for a period of 11 months and renew them from time to time. These are:. A Tenancy At Will is implied when a person is in possession by the consent of the owner and is not held in virtue of any tenancy for a certain term.

A Tenancy At Sufferance is merely a fiction to avoid continuance in possession operating as a trespass. A Tenancy At Sufferance does not create the relationship of landlord and tenant. In the case where he fails to make such repairs within a reasonable time after notice, the lessee may make such repairs himself and deduct the expenses of such repairs along with interest from the rent, or otherwise recover it from the lessor. A tenant may be contractually obligated to effect insurance of the tenanted premises.

The rights of the landlord to determine the lease is given in Section of the Transfer of Property Act, The grounds on which the lease may be terminated by the landlord are outlined in question It also depends on the commercial understanding between the parties to the agreement as recorded in the agreement.

It is trite in law that no tenant can be evicted without the due process of law. This may entail serving a notice of termination on the tenant statutory or otherwise and institutions of a civil suit before the competent court, as may be necessary. Please briefly describe them and include environmental laws. Land falling under the urbanised zones is developed within the framework of town planning legislation to meet the requirements of residential, commercial, institutional, SEZs, information and technology IT parks, etc.

For instance, all building activity must be in consonance with building bye-laws, the development code and the national building code. Construction names are well-prescribed. The municipal laws require all buildings to obtain various certificates and permissions such as approval with respect to the building plans, and NOCs in terms of environmental impact, fire hazards, water assurance, sewage waste, etc. Further, certificates such as Completion Certificates and Occupation Certificates are also required to be obtained in order to show completion of the building in a legal manner.

The Constitution of India has envisaged within its framework the inalienable need to conserve and protect the environment and all its components. Matters related to environmental protection are contained in the Concurrent List and, hence, both the State and the Union have jurisdiction with respect to the same. However, in matters of repugnancy, the Union will prevail. The laws and provisions that govern environmental regulations and matters connected therewith are:. The real estate sector is subject to many Central, State and local regulations designed to protect the environment.

Amongst other things, these laws regulate the environmental impact of construction and development. The Ministry of Environment and Forest and Climate Change MoEF is the key national regulatory agency responsible for policy formulation, planning and coordination of all issues related to environmental protection. With respect to forest conservation, the Forest Conservation Act, regulates development restrictions in forest lands and preservation of forests through State Government.

The Government has brought this notification to establish transparency and make the process more convenient through an online system. The notification allows for post facto approval for projects that essentially allows for construction to begin without environmental clearance. Category B2 contains the list of projects such as gas and shale exploration, hydroelectric projects up to 25 MW, etc. This changes the current norm, wherein expert appraisal committees screen such projects independently.

The State can acquire private property under the principle of eminent domain by virtue of Article 31 2 of the Constitution as it categorically states that land can be acquired by the State only for public purposes in consideration of compensation. The Land Acquisition Act, the erstwhile LA Act has been the paramount legislation governing acquisition of private property by the Government.

Provisions for acquisition of land are also found in other legislation, including:. The collector computes the amount to be granted as compensation under Section 26 of the Act and, having determined the market value of the land to be acquired, shall calculate the total amount of compensation to be paid to the landowner whose land has been acquired by including all assets attached to the land.

The LARR Act provides a detailed mechanism for the calculation of the amount of compensation and the factors to be considered while arriving at such amount. The LARR Act does not provide any scope for modification of such compensation by way of contractual arrangements. In addition, under the LARR Act, acquisition follows a far more detailed process that includes conducting a social impact study of the proposed acquisition, planning and taking steps for rehabilitation and resettlement of landowners, seeking the consent of landowners, etc.

How do buyers obtain reliable information on these matters? Zoning Permits : Land in each State is differentiated and demarcated on the basis of certain factors like growth potential for different purposes through the Master Plans of every State, respectively.

Building approval comprises the building plan and the layout approval for the construction of the building. The builder must get approval of the layout plan from concerned authorities before starting construction of a residential or commercial building. The building plan ensures that the building complies with building laws.

Once the building plan is approved, the builder should commence construction work within two years and there should be no deviation from the sanctioned plan. IOD basically states conditions that need to be complied with during different phases of an under-construction project. Intimation of Disapproval in some places is also known as a building permit.

The Real Estate Regulation and Development Act, has been enacted for regulation and promotion of the real estate sector and to ensure the sale of a plot, apartment or building, as the case may be, or sale of a real estate project. Environmental Impact Assessment EIA : The purpose of an EIA is to identify and evaluate the potential impacts beneficial and adverse of development and projects on the environmental system.

This exercise should be undertaken early enough in the planning stage of projects for selection of environmentally compatible sites, process technologies and such other environmental safeguards. There are various parameters which bring projects under their ambit. While all industrial projects may have some environmental impact, all of them may not be significant enough to warrant elaborate assessment procedures. The need for such exercises will have to be decided after initial evaluation of the possible implications of a particular project and its location.

Can implied permission be obtained in any way e. This concept is provided for under Section 5 2 of RERA wherein if the Authority fails to grant the registration or reject the application, the project shall be deemed to have been registered. Also, the concept of self-certifying construction has been introduced in certain jurisdictions wherein a registered architect will be able to submit the building plans under self-certification on the official portal of the administration, as per the Haryana Building Code, The cost incurred by the parties for obtaining a building or use permit is usually only a very small fraction of the overall cost of the project.

The cost varies from State to State. However, in a generic sense, the time involved for such process is usually between 30 and days. If the Central Government apprehends that the protected monument is in danger of being destroyed, injured, misused, or allowed to fall into decay, it may undertake the maintenance of the protected monument. A Prohibited Area is demarcated as the area beginning at the limit of a Protected Area or the protected monument and extending to a distance of m in all directions.

However, the Central Government may increase this area even beyond m and by notification in the Official Gazette; and specify such area to be a protected area. Every area, beginning at the limit of a prohibited area in respect of every ancient monument and archaeological site and remains, declared as of national importance extending to a distance of m in all directions shall be a Regulated Area. The transfers of ownership of lands that are within the limits as prescribed under the said Act are not restricted or impacted.

However, such land should not be a part of such monument. The development of such lands which are in the vicinity and not part of the ancient monument must be in compliance with the regulations. Is there a public register of contaminated land in your jurisdiction? Certain reliable information can be obtained by the potential buyer on the website of various government departments of the CPCB available online at: Hyperlink Information regarding environmental data and standards can also be obtained online on the above-mentioned website.

A technical diligence is also to be conducted by the potential buyer wherein they can check whether or not the development norms are being complied with. Environmental Clean-up Laws govern the removal of pollution or contaminants from environmental media such as soil, sediment, surface water, or ground water. There is a certain standard prescribed for the emission of noise, water and air pollution permitted. Only if the standards are met will the approval be granted by the appropriate government.

Even if the approval is granted, it may be cancelled if the standards are not complied with. There is legislation for water discharge and air pollution and several other environmental laws exist to protect the environment. As per the Energy Conservation Act, : Energy conservation building codes means the norms and standards of energy consumption expressed in terms of per sq.

However, the impact of the ECBC depends on the effectiveness of its enforcement and compliance. Whether the projected targets can be achieved depends on how the code enforcement system is designed and implemented.

It is consistently adopting new policies and undertaking measures to achieve its goals. Renewable energy is coming to the forefront in India. In , the Government set a goal to install GW of renewable energy by As of December , 86 GW of this renewable energy capacity generation, including 38 GW of wind energy and 34 GW of solar energy, had been met.

In September , Indian announced at a UN climate action summit the new target of GW of renewable energy by In , however, the Government revised the solar mission and aimed for GW installed capacity of solar electricity by The PM Kusum scheme was started in to fund 2 million farmers to set-up standalone solar pumps.

The Government through this initiative seeks to incentivise the farmers to shift from traditional sources of energy to solar energy. This shall enable the farmers to set-up solar power generation capacity and subsequently profit from it. The initial targets were set at 5. The Indian Government has initiated the National Clean Air programme that seeks to enhance air quality standard and curb greenhouse emissions by suggesting sectorial specific interventions.

Its goal is to design a plan to cut PM 2. There exist regulatory measures not already mentioned which aim to improve the sustainability of both newly constructed and existing buildings as mentioned below:. The pandemic has led to unique and peculiar disputes and situations in the real estate sector.

Force majeure is a civil law concept and India does not have a codified law dealing with force majeure. It usually is adopted as a contractual provision in India. However, Indian law contains codified provisions for contingent contracts which are to do or not to do anything if an uncertain future event happens and also with contracts to do an act which, after the contract is made, becomes impossible, or, by reason of some event which the promisor could not prevent, unlawful, becomes void when the act becomes impossible or unlawful.

Courts in India are dealing with this complex situation of clauses which are open to interpretation, conjointly with the codified provisions stated above. Certain judicial precedents have been created which are now assisting in general interpretation to some extent. Additionally, some other changes that followed the COVID pandemic and that are relevant to the real estate sector are as follows:. Chapter Content Free Access 1.

Real Estate Law 2. Ownership 3. Real Estate Rights 4. System of Registration 5. Real Estate Market 7. Finance and Banking 9. Tax Leases of Business Premises My third book pick here is from Brendon Burchard, someone who I had on the show, not too long ago, I think it was about a year, year, and a half ago. Great guy. In fact, our interview went so long. I had to split that episode into two parts. So you could look for that episode. And I believe it was called High-Performance Habits, which happens to be about the book that he wrote.

One of his last books is called High Performance Habits. How extraordinary people become that way. So 20 years ago, or so Brendan became obsessed with answering three questions. He wanted to know why do some individuals and teams succeed quickly more quickly than others, and actually sustain that success over the long term. You wanted to find out of those people who actually pull it off, why are some miserable? And then the other group are consistently happy on their journey.

And thirdly, you wanted to know what motivates people to reach for higher levels of success in the first place. And then what practices help them improve the most. So after doing some extensive, original research that he does in his own company, and after a decade, as the world's leading high performance, coach Brandon found the answers to these three questions.

And it turns out that just six deliberate habits give you that edge. Now he says that anyone can practice these habits. And when they do extraordinary things happen in their lives, in their relationships, in their careers, it really is a good book. It is definitely well worth reading regardless of what you do in terms of your job or career, business, or practice. It really is a book on becoming a high performer.

And to become a high performer, you must seek clarity. Clarity is so critically important. You have to know how to generate energy. You have to know how to raise necessities, increase your productivity, develop influence, and then lastly demonstrate courage. And this is what he talks about in the book.

So it's really the art and the science of how to do it all. And that's what you're going to learn by reading this book or listening to the audio. So those are my three picks and believe me in this category about mindset, literally, there are over a thousand books. I mean, there is so much out there from Brian, Tracy to Tony Robbins and you name it.

But these three are, I think very, very fundamental. That's the first category. The second category is finance and investing. And again, this is one of those sections where there are literally hundreds of books. And again, it's hard to narrow it down, but it wasn't too hard for me to pick. What I feel are probably the three cornerstone books, regardless of how experienced you are how much, you know, how seasoned you are, or how wealthy you are.

Because the fundamentals and the principles found in these three next books are great as a refresher. I'm sure you're going to read it. And there are things that you never knew before, and it's just great additional knowledge. So the first one is probably no surprise to anybody.

I'm sure most of you have read this at some point in the last 22 years, it's been that long, but many of you know of it. So it is Rich Dad, Poor Dad , what the rich teach their kids about money that the poor and middle class do not buy. Obviously, Robert Kiyosaki, this book has since become the number one personal finance book of all time.

It's been translated into dozens of languages and it's been sold all around the world. I'm not even sure how many millions of copies this book has sold, but it has become a modern-day classic finance classic. So Rich Dad, Poor Dad is Robert's story of growing up with two dads, his real father and the father of his best friend, his rich dad.

And it talks about how both of these men, his fathers shaped his thoughts about money and investing. So the book explodes the myth that you need to earn a high income, to be rich and explains the difference between working for money and having money work for you. And that's a key distinction. And a lot of the book builds upon that concept, but the book is great because it challenges the belief that your house is an asset, which most people still believe to this day.

It is not, it is a liability. And if you don't know why to read the book, it shows why parents rely on the school system to teach their kids about money and why that's a mistake in that. Doesn't actually work. It defines once and for all, what an asset and a liability truly are. It makes simple definitions for this stuff. And it teaches you what to teach your kids about money for their future.

So if you're a parent listening to this and you want to help your children become financially literate and increase their financial IQ, this is a foundational book. It's one of the starting books if you will. So the second book, no surprise is going to be the second book in what is essentially a three-part series of the Rich Dad series of books. This was the second book. So rich dad's cash flow quadrant is a guide to financial freedom. It picks up where the last book left off first book, rich dad, poor dad.

So as the second book in the rich dad series, reveals how some people work less, earn more, pay less in taxes, and learn to become financially free. So cash flow quadrant was written for those people who are ready to move beyond what they feel is job security. And I say that in air quotes and enter the world of financial freedom. It's for those people who want to make significant changes in their lives and take control of their financial future because this is more of the how-to Rich Dad, Poor Dad was more of the foundational book, kind of laid out the principles and the concepts and some of the definitions that you need to know such as a profit and loss statement, a balance sheet, how money flows and all that, this builds on top of that.

Robert believes that the reason most people struggle financially is that they've spent years in school, but we're never taught about money. And Robert's rich. Dad taught him that this lack of financial education is why so many people work so hard. All their lives it's to work for money, instead of learning how to make money work for them, they basically just work for money. So this book will change the way you think about your job, your career, owning your own business.

And hopefully, it will inspire you to learn these rules of money that the rich use all the time to build and grow their wealth. The third book again, no surprises. It's not going to be a shocker. It's really the third book in that rich dad series. And these books work well together. They're built to be stacked on top of each other. So investing obviously means some different things to different people.

And there is a huge between passive investing and becoming an actively engaged investor. And one is not better than the other. There's no right or wrong. We're both at different times in our lives. And it also depends on what we're actually doing. We're always going to be active or passive investors. Usually, we're both, but you just need to understand the distinction there, becoming an active investor means you're an engaged investor.

And so there's a lot of power in that. So rich dad's guide to investing is one of the three core titles in this series. And it covers the basic rules of investing, how to reduce your risk in investing, how to convert that earned income you get from your active job or career, and turn that into passive income. And he talks about something he refers to as rich dad's 10 investor controls.

And this is where he gets into the weeds gets deep into the concepts of investing. So the rich dad philosophy makes a key distinction between managing your money and growing it and understanding the key principles of investing is the first step towards creating and growing wealth.

So this book delivers guidance. You need to help begin that process of becoming an investor and stay on that road till you get to that point of financial freedom. It's really more of a guide. In fact, the title says it is all rich dad's guide to investing. All right, well, those are the three books in the finance and investing category, and it's really the trio, the three rich dad series books, the initial or the original books.

Now let's talk about real estate investing for beginners. So this was a little bit challenging for me. In this category, I ultimately decided on four bucks instead of three for this now keep in mind, even though I'm calling it real estate investing for beginners, these books apply to almost everybody. Even if you are a seasoned or an experienced investor, there's a lot of stuff you can learn from these books.

If not every chapter, certainly some of the chapters in these books and the first one is really not a book at all. In fact, it is my ebook that has been a free download on our websites for the last probably 10 years, which has been downloaded literally tens of thousands of times. And I wrote this 40, page ebook as a primer for people to understand the key concepts and key components of investing in real estate, leaning towards passive investing, meaning buy and hold, not flipping real estate, or to actively involved.

It's really about building a portfolio, creating wealth, creating passive income, and learning the fundamental key pieces. So it is really a great primer. So you read it, it's a great starting point, but then you build on top of it with these other books. So The Ultimate Guide to Passive Real Estate Investing the free download on our website is really about the most powerful way to accumulate wealth.

This guide that I wrote has been written to help educate all real estate investors, regardless of their experience level. And again, it's a primer. It talks about the advantages of income-generating real estate, how to analyze properties, key metrics, cash flow returns, what to look for in the quick test to see if a deal is worth even pursuing.

So it's kind of like the smell test, if you will, how to choose some of the best markets and neighborhoods. I try to pack it all in there. There's no fluff. It's just crammed with good information. So if you haven't downloaded a copy or read it, go ahead and do so. I'm going to be updating that soon to kind of a version 2.

And I'll just tighten up a few things in there based on today's economy and environment, but not much has changed because principles don't change. All right. This book was written by Brandon Turner. He's got several books. I've picked a couple of his and this book is great if you're starting and good if you're a moderate level investor.

So everyone knows that real estate investing can be a powerful way to build wealth and achieve true financial freedom. But because each person's journey is going to be a little different knowing the first steps to take is challenging for some people. So what this book does, it becomes a manual of sorts on getting started in real estate investing.

It gives you essentially an insider's look at the many different niches and strategies that exist. So it's not all about passive real estate investing. It's got a little bit of everything and it just kind of help to paint pictures. In other words, it shows you the landscape and then you can choose your path. So what you can do is find which strategy and path work best for you, and then help you build the resources and the goals around that. Unlike most real estate books, this one won't tell you that there's any one secret path, okay.

It is considered by many one of the best books on real estate investing. There's more than one path to success in real estate, but it has more than 40 real-life stories in the book from other investors on how they achieve success in real estate investing.

And I'm sure you're going to be able to relate to many of those stories. There are a lot of similarities, but there are differences between every person and every story. And this is by one of the rich dad advisors, Ken McElroy. He is a sharp guy.

You know, I've talked to him in the past. I've had him on the show at one point and you know, I like his content. Now he's really a big real estate guy. He's focused primarily on big multi-family apartment complexes, but he did start with, you know, small real estate, single-family homes.

And that doesn't mean that there's a migration path here. Some people will start with, you know, multi-units and apartments and work their way down to single families, duplexes, and fourplexes, and other people do the other way around. And while other people just stick with one and stay with it. So you can create wealth and passive income with every size and type of real estate. But with his book on the ABCs of real estate investing, he kind of geared it more towards the people who are just getting started in the beginners and just real estate investing.

Think of it like real estate investing one Oh one, but he talks about things on achieving wealth and cash flow using real estate. You know, what a property is potential is how to unlock the myths that float around real estate for people who are seasoned, how to negotiate deals, evaluate properties and the purchase price, how to increase the income on a property, and ways to properly manage a property.

Now he doesn't get into property management in any depth in this book, it just touches upon it. He actually has another book on that topic, which I'll talk about here in a minute. And then the fourth, if you will, fourth and last book in this category is Long-Distance Real Estate Investing.

Now I love that title. He doesn't get too deep into it, but it is a good book. It's by David Green. It's one of the bigger pockets series books. But you know, what he talks about is living in a hot market or a market that's not suited for buying hold investing because it's just unaffordable too expensive. The numbers don't work, whatever the case is, but he poses the question.

Well, how do I take advantage of building wealth in real estate? When I live in a market that I can't invest in, it's impossible, or how do I avoid, you know, market fluctuations or the next market crash. So we know real estate investing is one of the greatest vehicles for creating wealth, but you need to understand how to choose markets and be able to be nimble and agnostic.

And this is stuff I talk about on the podcast all the time, and this is what he talks about in the book. I just wish he would get more deep into the concept of done for you and rent, ready properties, and turnkey properties. He touches upon it. But to be completely honest with you guys, I have always found since the beginning of bigger pockets in , they've always had a bias towards turnkey, real estate investing, and passive real estate investing in general.

They are certainly of the active, real estate investing flavor. They certainly believe in buying, fixing, and creating value on properties. It seems that to me, that most, if not all of their content, either excludes conversations about turnkey investing, buying properties that are essentially rent-ready. So you don't have to do any fix-up or renovation work.

They're all about putting in sweat equity to create value. That's fine, but that's not for everybody. And we all know that a lot of us are busy. We don't want to go down that road. We just want to invest in real estate and build a portfolio and let it grow over time.

So I'm not knocking the book. The book is good. I just wish he had more on the topic of passive real estate, investing, turnkey, real estate, investing, and done for you models instead of hiring a team outside of your local market to essentially do all the grunt work, swinging the hammers, and everything else, that's fine.

But I think he glosses over a little too much. So in this book, real estate investor and police officer David Green, shows you how he's built a multi-million dollar portfolio through buying, managing, and flipping out of state properties. So keep that in mind when you read it, but he does share tips, tricks, and systems that he's put in place over the years of his real estate investing experience and journey and what he's done to essentially succeed and avoid making mistakes along the way, but just realize that's the perspective.

Anyway, the bottom line with this book, and what I like to talk about all the time is to don't let your location dictate your financial freedom, learn how to succeed regardless of where you live and where you invest, choose the right markets, the right neighborhoods, the right properties, and have the right team around you. And that will be a secret if you will, or a formula to your success. All right, the next category is real estate investing to grow.

So this is kind of the next level up. He is obviously the founder of Keller Williams, the real estate brokerage nationwide real estate brokerage. So he is a real estate investor and a very good one. Anyone who seeks financial wealth first needs to learn the fundamental truths and models that drive it.

So the millionaire real estate investor represents the collected wisdom and experience of over a hundred millionaire investors from all walks of life who have pursued financial wealth and achieved it through real estate. And so what he did is he basically created this book in a straightforward, no-nonsense way that reveals the strategies that these hundred millionaire investors have used to create financial freedom, independence, and a lifestyle that works for them.

So this book essentially is a handbook that has tried and true financial wealth-building principles and models built around real estate that reward your patience and perseverance, and he lays it out. So some of the things he talks about are the myths about money and investing and especially the ones that hold people back and really how to develop a mindset of a millionaire investor, which goes back full circle to where we began about mindset.

You know, even when he talks about this in the beginning part of the book, he talks about how to develop sound criteria for identifying great real estate investment opportunities, how to zero in on key terms and parts of transactions and achieve the best possible deals when you're putting a deal together or looking for a deal.

He also talks about how to develop your dream team, which is something I talk about often proven models and strategies that millionaire investors use to track their net worth understand finances. It's not a very complex or complicated book. It's not going to put you to sleep or cause your eyes to glaze over.

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NEVER Invest in These 7 Types Of Real Estate Properties in 2021! (Part 2) - Robert Kiyosaki

The Book on Rental Property Investing (best overall) Mastering the Art of Commercial Real Estate Investing (best on commercial real estate) Rich Dad. › blog › best-real-estate-books. Awarded the “Best Books of All Time” by BookAuthority, Gaurav Jain's take on investing in the Indian real estate is worth reading.