Under the Umbrella – Protecting Properties and Prayers !

Some stories stay with us for a long time. They shake us up and make us take that step towards becoming problem-solvers rather than mere listeners and empathizers.

A few days back, I went to meet an elderly couple (Mr. & Mrs. Rana) in their 70s. They had been living in Nairobi, Kenya and had been unable to sell their property in India. This property was located in a layout in Bidadi, Bangalore, and the builder’s trail had gone stone cold. The layout itself was in horrific shape with bushes and brambles growing all over.

I listened to their saga. They had stood in line 20 years ago to sign up for this home – their retirement home, their dream home. It was a dream that had turned sour. Now, they demanded answers. I wondered if we can do something about it. How do we stand up against these kinds of unscrupulous construction builders, who fleece the innocent.

I indicated to them “You’ve invested your hard earned money in buying property in your country. I assure you that managing it should be hassle-free”. It is a simple assurance, but personally, I still have sleepless nights, In this unorganized space, “How Do we dare to get things done right”?

We are surrounded by many such stories ever since my partners and I founded Propadis. We realised that we could choose to be mere listeners or we could try take the bull by the horns and attempt to solve these problems plaguing Indian property owners who reside outside India. God Help us, give us the “courage” “to dare” & give the other aggrieved customers the “strength” to come forward.

When I reassured my newly made friends (Mr. & Mrs. Rana) that Propadis will take care of their property, they declared that I was a ‘faristha’ or an Angel sent by God. In folklore, faristhas are famous for safeguarding people and make their wishes come true. I am hoping Propadis will be one such ‘faristha’ and protect the properties of many such NRIs.

By, Vinod Podar
CEO / CO-founder
http://www.propadis.com 

*This is a true story. One of many such stories.

Propadis is born from three simple mantras 一 to safeguard, enhance and monetize the property 一 be it maintenance, rental or sell.


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The Increasing Demand for NRI’s Property Management

Real estate solution is one of the most tedious and complicated domains of asset market. This business in India is flourishing like never before. It is a business in which buildings, vacant lands, and commercial and residential properties are sold and purchased for prospective clients. The booming and astounding growth of this business has caught the attention of NRIs. They are now keener than ever on investing their money in this flourishing business to gain maximum returns.

The biggest obstacle they face while making investments in India is that they are not physically present there to monitor things. This has developed a risk of loss and fraud in them and they often hesitate in making investments. To overcome this obstacle many real estate agents and a host of other companies are providing their services to Non-Resident Indians to manage their properties on their behalf.

The basic services real estate firms provide to their clients include making an assessment of the properties, judging its value, and helping to make a well-informed investment decision. If the client requires, they also need to keep an eye on the upcoming property projects. These firms and agents also provide you with assistance and guidance to complete the legal formalities related to purchasing of a property.

With the opening of companies that are specifically designed to provide take care of the property management issues of the NRIs, the horizon of their services has increased. Response material, contracting, commercial cleaning, annual maintenance contract, pest control, health, and safety are among the many other services that they provide. As this is a relatively newer concept, there isn’t much competition in this market as of now, but experts believe they will be in dominance very soon. Their demand is already on a rise.

Two types of properties exist under the property management companies. First one is the property that is meant for residence and the second one that is used for commercial purposes. Residential property is made up of apartments or flats. They offer good infrastructure, well-furnished rooms and state of the art facilities to the residents. As for the commercial property, ideal locations as per their business needs are suggested to the buyers to attract customers and grab maximum footfalls.

Property management firms have made things much more convenient for the NRIs to engage their wealth in a productive manner. Looking after the property and managing its finance can be a difficult task to be done from abroad, but these firms have taken over the responsibilities on their heads and are providing sound services to enhance the proper wealth utilization.

If you are an NRI and are looking for the right property management firm, you must consider their track records, the way they advertise, their fees, technology options, commitments, dedicated team force, and the total services they provide before appointing one for your property management company.

Get the best package for you that provide you the maximum and quality services at the most economical rates.

Write to us:
PROPADIS.COM
2 Tower Center Blvd, 19th Floor
Suite 1901 East Brunswick, NJ 08816
+1 (973) 718 1355
info@propadis.com

Real Estate Investment in India

Real estate market in India has made a very strong position in last few years. It has huge potential in many sectors like residential, industrial, hospitality, commercial, healthcare etc. This growth has been achieved due to an increase in purchasing power of the people. Banks and other financial institutes are providing loans on easy terms which have captured the interested of the general public to get the maximum returns on their investments.

The residential sector in Indian real estate market contributes up to about 5-6% of Indian gross domestic product (GDP) and estate market is expected to reach up to US$ 180 billion by 2020. Mumbai is known as the best city in India for the investment in commercial real estate followed by Bangalore and New Delhi.

real-estate-set-to-be-a-180-billion-industry-by-2020-nhb-official

With the advent of many new IT companies and retail and consultancy services, people are more inclined in starting their own businesses of providing these services. This has led to an increase in demand for the office space. More and more people from smaller cities are migrating to bigger cities, which has resulted in higher demand for residential properties.

The government of India offers certain tax benefits for the people who are interesting in making investments in real estate business.

  • People can avail tax exemptions on reinvestment of sale proceeds of property in certain cases.
  • Tax benefit on interest on housing loan in certain cases can be availed by people.

With having multiple benefits and perks, investment in real estate also come with certain risks elements that one must keep in mind before making such investment.

Location:

The location of the building where investment is being made holds utmost importance to gain maximum returns on the investment. A property investment is a long-term one, so it should be made after proper thought process and going through a whole lot of information related to that particular area. The physical attribute of the building also matters a lot.

Liquidity:

                Investment in property is less liquid than many other forms of investment. It may be a tedious and tiresome process of selling a real estate property if you need urgent money. If the market is poor, things can be more difficult for you.

Applicable tax:

                Income tax is paid on the rental and capital gains the owner is getting from the investment. In addition, the investors are also required to pay property tax and stamp duty. There are certain cases and areas where the government can give you tax rebates.

Risks involved with tenants:

                If the investor has rented their property, there are certain risks involved with tenants. They should be selected carefully after going through all their credentials and their background should be double checked. If the tenant becomes a defaulter, it will be a loss of income for the investor.

All these risks can be tackled with proper planning. Despite these risk involving factors, investment in real estate is still considered safe and the right investment can give you the best returns.

Talk to us:

PROPADIS.COM
2 Tower Center Blvd, 19th Floor
Suite 1901 East Brunswick, NJ 08816
+1 (973) 718 1355
info@propadis.com