UK farmland demand falls sharply as Brexit adds to price woes

Demand for farmland in Britain fell sharply in the first half of 2016, hurt by low commodity prices and uncertainty around the European Union membership referendum, the Royal Institution of Chartered Surveyors (RICS) said on Wednesday.

Forty-nine percent of chartered surveyors said they expected prices to fall across all types of farms in the coming year, according to RICS and the Royal Agricultural University survey.

“Commodity price volatility was already negatively impacting sentiment in the rural land market prior to the EU referendum, and the outcome of the vote has added further uncertainty,” said Jeff Matsu, RICS senior economist.

uk-house-prices-rise“For now, this appears to be weighing heavily on demand and prices have begun to slide.”

Many farmers have expressed concern about the possibility of diminished subsidies for British agriculture once the country leaves the EU. But others have said they will be better off without the EU’s rules and regulations.

Matsu said the Bank of England’s decision to cut interest rates and restart its bond purchases could bolster confidence, while the fall in sterling ought to help agricultural exporters.

The survey added to signs of a broader slowdown in property markets since the vote to leave the EU.

A RICS survey last week showed housing market activity ebbed last month, with gauges of house price growth and transactions falling to their lowest level in years.

Circle rates beat market prices, hit realty sector

 Imagine buying property and paying stamp duty far higher than the deal entails because the circle rate is much more than the market price? Many buyers in Delhi NCR — in New Friends Colony, Kalindi Kunj and parts of Noida for instance — and in smaller cities like Bhopal are doing exactly that as a piquant situation has emerged in the subdued realty market.

With market rates being far lower than circle rates — when the opposite is usually true — in these places, the buyer has to pay stamp duty on an amount higher than the price he has paid for the property, drawing the taxman’s attention to both buyer and seller in such deals.

Property consultant Sachin Garg, who is based in New Friends Colony, says there’s hardly been any transaction in the past one year when the market price has been higher than the circle rate. The circle rate in New Friends Colony is Rs 6.45 lakh per square yard against the prevailing market price of around Rs 5 lakh.

Will real estate investment trusts go the right way?

With markets watchdog Securities and Exchange Board of India (Sebi) finalising the long-pending guidelines for the creation and regulation of Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs), the stage is set for the launch of these new instruments of investment-pooling that could provide a lifeline to fund-starved developers and also prove to be a boon for the small investors by providing them avenues for safe and profitable investments.

Today, the banking system faces tremendous pressures due to high degree of non-performing assets and, as such, this cheap funding is not easy to come by. This is especially so for the real estate sector , which has so far not been given industry status to entitle it to priority lending for accessing long-term funds at reasonable rates.

On the contrary the Reserve Bank of India (RBI) has put restrictions on lending to the real estate sector. This has made bank lending more cumbersome and costly, forcing real estate players to look for alternate avenues. Even FDI and PE funding has been restricted due to low yields, long gestation periods and limited exit options.

The infrastructure sector requires huge funding of Rs 65,000 crore ($10.6 billion) during 12th Five Year Plan (2012-17). An investment outlay of Rs.70 lakh crore is anticipated in affordable housing and in urban roads and transport in next two decades.

The funding requirement has further increased for real estate in view of the abysmally low sales and substantial increase in raw material and labour costs. This is a matter of serious concern for debt-laden companies. The total debt of top 11 listed companies has touched Rs.42,000 crore, with DLF topping with Rs.19,000 crore.

Against this backdrop, REITs may well prove to be a game changer for the real estate sector as there may be 80-100 million square feet (msf) of Reitable office space worth Rs.60,000 generating Rs 6,000 crore of annual rental income.

Global property consultancy Jones Lang Lassale anticipates that nearly half of the 376 msf Grade A office space will get listed in next 2-3 years. To capitalise on the opportunity, leading funds like Xanders, Red Fort, Blackstone and Kotak and developers like DLF, Prestige, RMZ, Panchshil and Phoenix are preparing to launch their REITs.

Despite the government’s tall promises, real estate has remained out of reach for millions of Indians due to its unaffordability. REITs will provide an opportunity to small investors to invest in a hassle-free manner with ease of liquidating their investment, besides coming in handy for developers of commercial property who require huge capital.

Sebi has also attempted to safeguard interests of property investors through stringent disclosure norms, related party transactions and valuation of assets. The regulator has put a condition that in under-construction properties, where investors are facing the brunt of delays, REITs can invest only 10 per cent of their assets and at least 80 per cent of assets should be deployed in completed and income-generating properties.

Sebi has also tried to take the risk out of investment by mandating that REITs must invest in at least two projects with not more than 60 per cent of the assets invested in one. It has been made mandatory for sponsors to hold 15 per cent stake throughout the tenure of REIT. Compulsory listing of REITs on the stock exchange will make investments transparent and less prone to risk.

However, there are quite a few misapprehensions on the part of real estate sector on the operational success of REITs. The restrictive investment in commercial real estate is being seen as a less attractive opportunity for REITs. Also, there is not a complete pass through on the dividend distribution tax.

Moreover, there will not be much choice for investors in terms of number of projects as only a few big developers will have a Reitable portfolio.

There are also misgivings that REITs won’t be remunerative for investors as thecurrent tax structure is unviable and irksome. Developers are particularly uneasy with the long-term capital gains tax to be paid on selling their units to REITs. They want REITs to be treated like IPOs. Also, exemption from stamp duty would have made REITs more attractive, they say.

It will not be before the next fiscal beginning April 1, 2015 that REITs will get launched. Much of their success will depend on Sebi ensuring that only good quality assets are brought for investment, valuations are right and transactions are well regulated.

It will also be advisable to bring in real estate regulation to make REITs truly attractive to realise their full potential. Notwithstanding the initial hiccups, both REITs and IN ITS will prove to be a boon in channelising domestic and foreign investment into the real estate and infrastructure sector.

E-Magazine – online real estate property magazine in digital issue

Realty fact Magazine Online draws 720,000 page views a month on average, listed with Google news alert and Online paid circulation of 5 lac and is delivered to subscribers in digital versions, making it the perfect place to showcase your products and services and to compliment your print advertising program. Realty fact Magazine Online offers exclusive home page or section level display advertising. Other online opportunities include video, slide show and blog advertising, media sponsorship. What changed? “A combination of advances in the technology, readers’ desire to ‘go green,’ and the cost of producing more than a million print issues swayed us.” Moncrieff explains.

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Realty fact e-newsletter keeps real estate investors on top of their game by giving them quick and easy-to-read information on a monthly basis. The e-newsletter offers an unparalleled way to get directly into the in-box of more than 10 lac.

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REAL ESTATE INTELLIGENCE GUIDE

Real Estate Intelligence is simple, with an powerful mission: Empower Real Estate professionals with intuitive tools that will enable them to better understand specific market conditions and share these insights with clients. Real Estate Business Intelligence is our online subscription based service providing analytic s, data and real estate research covering the Indian real-estate Industry. By leveraging our proprietary database, our clients gain access to real time information that would otherwise take months to assemble, along with the tools to search, analyze, compare, chart, and audit .

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Read Digital E Real Estate Investor Magazine Online

Now you can Read Digital E Real Estate Investor Magazine Online it contains news from India and world real estate , propertymarket news replicas of publications on your tablet PC or desktop computer. Now you can read Realty Fact Monthly Real Estate Magazine anytime, anywhere. Monthly Real Estate Magazine is available to you at home or at work.

You can book your advertisement in realty fact real estate, property magazine & newspaper digital– national or regional or even international.

ABOUT MAGAZINE

RealtyFact.com – (Company of Smek India) one of the leading digital real estate news magazine and news portal . Realty Fact is the leader of real estate news with market reports, the only monthly magazine that will be hitting the digital newsstand focusing on emerging residential, commercial, retail, infrastructure, home improvement, home decorating, interior design and real estate market news across the world.

RealtyFact – Background

Realty fact is the digital magazine owned by kumar saurabh smek india group, since Smek India began in 2009, we’ve been on a mission to help companies,start ups, digital entrepreneurs, and innovators bring their ideas to life online.

RealtyFact.com is the leader in world real estate news with it’s website getting more than720,000 page views on monthly basis. Our website gives a deep insight into the real estate, property market, architecture and home improvement, buying, selling and renting guide. Realty Fact also have more than 10 lakh newsletter subscribers.

Realty Fact – Mission

We are real estate news magazine and website. Realty Fact website platform covers world wide real estate news. With our worldwide reach, Our clients gain access to thousand of potential customers daily. We are dedicated to provide perfect information on world and Indian real estate industry.

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Our magazine provides clear and concise information, reviews and insider advice. Checklists and how to help readers on any budget reach saving and investment return goals, We help our readers to find markets and opportunities, and then earn the highest return available on non traded or real estate related investments. Over 90 percent of all today’s home buyers look at real estate as housing utility and as an investment both as a family and an investment shelter. Real estate investment is unarguably stable and profitable despite current market uncertainty.

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REALTY FACT MAGAZINE READERS INCLUDES:

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8)  More than 7 lakh unique monthly website visitors.

Why Realty Fact ?

Realty fact Magazine Online draws 720,000 page views a month on average, listed with Google news alert. Online paid circulation of 5 lac and is delivered to subscribers in digital versions, making it the perfect place to showcase your products and services and to compliment your print advertising program. Realty fact Magazine Online offers exclusive home page or section level display advertising. Other online opportunities include video, slide show and blog advertising, media sponsorship.

1. We deliver the most educated, affluent, and influential audience across the nation and International.

2. We offer value with a personal connection to an exclusive audience.

3. We offer effective, targeted, and efficient ways to reach them.

ASIAN NEWS Black money: CBDT orders probe against select real estate firms

CBDT has ordered an Income Tax department investigation against a number of real estatedevelopers who were recently shown by an investigative portal to be willing to accept alleged black money in property transactions.

The apex authority of the I-T department has asked its investigation units across the country to furnish to it reports of any action or probe conducted against the groups named by the portal in the past and in case such an action has not been done, the Central Board of Direct Taxes has ordered the same to be initiated.

“The CBDT has asked the investigation units of the I-T department that all these reports should reach it by the first fortnight of December,” a senior official said.

The investigation done by portal Cobrapost.Com included many developers from the national capital region and those from other parts of the country including Mumbai.

While releasing the transcripts and video recordings of its investigation at a press conference here, the portal said that executives from these companies, including some CEOs and CMDs, were ready to accept anywhere between 10-80 per cent of the property value in black money.

These 35 real estate companies under scanner are spread across the national capital, Uttar Pradesh, Haryana, Rajasthan, West Bengal, Andhra Pradesh, Maharashtra and Karnataka.

While some companies had outrightly rejected the allegations that they accept black money in their property transactions, a few others had said that they have already taken action against the concerned executives.

The portal said that most of these executives expressed willingness to accept money abroad through hawala channels, including in Dubai, Bangkok, Singapore and the US.

The findings of this investigation, named ‘Operation Black Ninja’, have come at a time when the government is making all efforts to bring back unaccounted money stashed by Indian citizens abroad.

Bengal emphasises on developing new tier II & III townships

KOLKATA: West Bengal government emphasised on new smaller twonships in the state but so far its proposed theme cities had failed to attract bidders for development in PPP model.

“I am interested in new tier II and III townships,” state Finance Minister Amit Mitra said on the sidelines of the CII organised realty conclave.

But, a real estate developer on the sidelines said, “The theme cities have not able to attract bidders’ interestand so the state government has decided to develop Bolpur theme city of their own.”

The state governemnt had decided to promote six theme based cities with government land – Siliguri, Baraipur, Asansol, Kalyani, Bolpur and Howrah.

Mitra asked investors to come forward for the theme townships.

Meanwhile, Mitra said state has taken several reforms to boost real estate sector.

“We have rationlised circle rate, 10 per cent higher Floor Area Ratio (FAR) for green building. For buildings within metro railway stations 10 per cent more FAR. New private township policy,” he said.

Different Services Offered by a General Contractor

We all know what a general contractor is. But, many people are not really sure when to call a general contractor and what are the various services that a general contractor offers. This article will help you find out what are the different services offered by a general contractor, so that from the next time on, you know exactly when to call a general contractor. Read this article, and get a clear idea about what to expect when you call for a general contractor for your construction needs.

Plumbing

Did you know that you can also call upon a general contractor when you have a leaked pipe? Yes, aside from hardcore plumbing works, a general contractor can also be called upon to in case of leaking pipes, and water overflow. The main advantage of calling a general contractor, is that they will provide everything, from the pipes in order to repair to the bolts and nuts. You do not have to worry about anything, when you give the responsibility to a general contractor.

House Painting

Same as that of plumbing, if you give the responsibility of painting your house to general contractors, they will take care of everything. From the paint to the other equipment’s needed to paint your house, they will provide everything. You do not need to search for suppliers, when you give the task to general contractors. Therefore, it is much better to hire a general contractor than hiring professional painters.

Installation of Doors and Windows

When it comes to installations of Doors and Windows, the things needed to install the doors and windows are costly. But, when you give the responsibility to a general contractor, they often have their own suppliers who sells them those things at a much cheaper price. Hence, it is much cheaper to hire a general contractor, than professional remodeling contractors. Basically, general contractors are a one stop solution. You find everything in one place, and you do not have to search for all the different equipment’s you need.

Roofing

If you hire a general contractor rather than a roofing contractor, it will be much cheaper. Giving the responsibility to a general contractor is much relaxing than a roofing contractor. Since, all the products which would be needed for roofing, would be bought from their store, you do not have to search for individual items yourself. Therefore, your time is saved, and the rates are pretty competitive too.

Flooring

If a general contractor does flooring for you, you do not need to worry about hiring another flooring contractor to do the flooring for you. Hiring a general contractor is also soothing and relaxing because, all the tools and items needed for flooring are provided by the contractor, and therefore you do not have to worry about anything else.

Above listed are some of the most common services that every general contractor offers. Knowing these things will help you in deciding whom to hire when. Hiring Independent contractor can be stressful at times, because of the extra burden that comes with it.

ESV Construction in Los Angeles, is one of the most reputed general contractors in the area. They have got fantastic testimonies from their previous client, and does contracting at cheap prices. Contact them to know more.

What You Need to Know About Becoming an Owner-Operator for Landstar

When you become an owner-operator at Landstar, you become your own boss, you are in a non-forced dispatch environment, and you get to decide what loads you haul. You’ll get to choose where you want to run your loads and when you want to go home. If you’re interested in becoming an owner-operator at Landstar, here is everything you need to know about driving for them.

Unlike other truck driving companies that are forced dispatch, Landstar doesn’t make you run specific loads along specific schedules. Instead, you get the flexibility of picking what loads you want, and what hours you are going to run those loads on. This makes it a lot easier for drivers who dream of owning their own trucking business, but who also want to focus on their families.

One thing that is truly unique about Landstar is that they operate on percentage pay. This means that as rates go up on loads, so does the amount of pay you receive. This is just another benefit to becoming an owner-operator at Landstar because other trucking driving companies operate on a cents-per-mile program. The cents-per-mile program is where if you want to earn more money, you have to run more miles.  The percentage pay program that Landstar operates on allows you to earn as much or as little as you need, giving you full control over your earning potential. All of this and more is why Landstar is one of the best  truck driving companies.

To live in a flat in Bangalore

Are you scouting for a good property in Namma Bengaluru? If yes, then you are doing the right thing at the right time. Bangalore, the IT capital of India, has emerged as one of the most popular destinations in the country. Due to the sea of job opportunities, open culture and climatic conditions, fresh graduates to seasoned professionals, elderly grandparents to expats, all prefer to settle down in Bangalore. The city has lavish open spaces, well-maintained parks, great climate and a good deal of entertainment options.

The locality and where you stay can make a lot of difference to your comfort, life style and social status. Living in your comfort zone can reward you with amazing benefits. The city’s real-estate line has matured over the years and offers a variety of options for people planning to invest. Amongst these, flats have become the most popular and are wished for by all.  For the younger residents, flats offer convenience, and for the elderly, flats promise security and provide a social bond.

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Benefits of living in a flat

Many of the developers in Bangalore are bundling in a variety of facilities for people planning to buy new flats in Bangalore.  One of the main benefits of living in a flat is definitely the amenities you receive by choosing an apartment complex. Fitness centres, common areas, Wi-Fi facility, common gas connection, swimming pool, walking area, kids play areas, gardens, jogging tracks, recreational rooms and an indoor sports complex are just some of the many benefits that most developers provide.

Living in a flat allows you to avoid large property taxes which you will otherwise have to pay for if you own a house. This can help you save lot of money as well as time.

Flats offer you a lot of parking options which you can choose based on your requirements and budget. There are some apartments in Bangalore which offer you attached garages which open directly into the flats, while most offer parking spaces at a fixed charge.

With flats, you have access to different floor plans, you get to choose from studio apartments to 1, 2 or 3BHK apartments in Bangalore.

There are many maintenance professionals available for you on call and they can help you with the plumbing, electric work, painting, cleaning and more. This way, you wouldn’t even require bothering about any special maintenance skills to upkeep your flat.

Most apartments have ample security guards and professional security system with cameras and alarms. This increases the safety and frees your mind about burglars.

In the city, you can find apartment complexes arranging breakfast meets, social events, cultural shows, cookery classes and other activities on chosen weekends and occasions. This can help you to meet new people, make more friends and increase your social circle.

Planning to invest in a flat in Bangalore? Try RoofandFloor before you finalise on any flat. RoofandFloor is a portal brought to you by the Hindu group of publications. You can easily search for new and ready-to-move-in flats in Bangalore with RoofandFloor.