Realty Blogs

  Hyderabad 2015.05.29 – swaraj samaaj Go Local. It shall save the Globe and everything Global!At the NAVIGATE 2025 conference in New Delhi, and thanks to the opportunity provided by Mr. Rishi Raj and Mr. Arjun Gandhi (the CEO and Head, Marketing – Max Estates) I raised a critical question: In our pursuit of short-term gains, are we sacrificing the future of real estate—and our country? Satellite images of Bengaluru, Hyderabad, Delhi, and other cities reveal unchecked urban sprawl, worsening traffic, pollution, and declining quality of life. Residents flee cities for clean air and open spaces at every opportunity. How did we get here? The Illusion of Globalization We’ve been conditioned by hegemony—subtle domination—to believe cities worldwide must mirror western models to drive wealth. But western-style consumption has led to climate crises, pollution, and unsustainable urban deficits. New York City, for instance, spends $300 Million to $1.3 Billion daily to function but generates only $277 Million in revenue. Do we have to repeat this mistake? The Solution? Go Local! Here’s how: Wear Local Clothing Western Business Suits increase AC demand. Japan’s Cool-Biz Campaign (2005) promoted summer casuals & raised AC settings to 28°C. leading to saving millions of tons of CO2. Why can’t we? Revive Ceiling Fans  Our National Building Code shows ceiling fans enhance comfort even at 34°C. At 10% energy of ACs + downsized ACs, you save on the project’s capital & operational costs. Question AC Dependency ACs add to *heat – up to 70⁰C adding to urban heat. Recall how reduced AC usage during Covid-19 cooled our cities? With intelligent A/C sizing + considering basic passive design features, we helped a developer in Pune save Rs 15 to 40 per sq ft in capital costs alone! Eat Seasonal, Local Food Foreign foods need refrigeration at every stage adding to high energy consumption! As nutritionist Rujuta Divekar emphasizes, seasonal foods align with our metabolism, boost immunity, and reduce carbon footprints. And hey, they also lower the need for for ACs as well! Yes, eating and drinking local stuff in summer can keep things cool naturally- including our bodies. Leveraging our resistance to Heat Indians tolerate heat better than cold. Raising AC temperatures to 28–30°C reduces peak loads and project costs. Combed with ceiling fans, right clothes and local food, we’ve the right recipe to battle climate change! Design for Local Climates  Avoid Western thumb-rules. Passive strategies such as proper orientation, optimal window to wall ratios, good shading, lighter colors, etc. lower cooling needs and costs. Embrace Natural Ventilation A recent TED talk by Jessica Green mentioned that AC environments have the same Air Microbial Landscapes (AML) as human skin and spit whereas naturally ventilated spaces have the same as the bacteria in our gut- a healthier alternative to remain disease free. Ensuring natural ventilation in our properties can ensure long-term benefits for our occupants. Optimize Water Systems At 310 LPCD, the per person water consumption in the US dwarfs India’s 135 LPCD. Green norms shrink this further to 75 LPCD. That said, has your green consultant recommended lower overhead storage tanks, pumps, pipe cross sections, and STPs on such reduced calculations? This is a sure recipe to lower capital costs. Reject Dark-Colored Buildings Dark facades in the Indian context absorb heat, increasing cooling demands. Stop aping blindly and go for light colors that reflect heat and reduce aircon needs. Plant Native Trees  Peepal, Neem, Bargad, Bel, etc. are trees gifted by nature & offer cooling that equals 100+ tons of refrigeration. Palms on the other hand, though low-maintenance, disrupt biodiversity. Which do you think is better? The Big Question As Dr. Sunita Purushottam (Mahindra Lifespace) asked: Is real estate’s future at risk due to its environmental and social impacts? Urban investments may decline as air, water, and health deteriorate. The solution? Embrace local wisdom before it’s too late. Ar. Gaurav Shorey Founder Member -Swaraj (NGO), Director – Psi Energy Pvt. Ltd., ECBC Master Trainer, Founder Member – GRIHA, Visiting Faculty – SPA, New Delhi. swarajsamaaj@gmail.com

Pioneering Transparency and Ethics in Real Estate In an industry traditionally dominated by men, Ms. Alpana Sanjay Agarwal stands as a trailblazer, redefining leadership through transparency, ethical practices, and innovative strategies. As chairperson of the women’s wing of NAR-India , honorary secretary Rajasthan Realtors Association and a key member of the RERA Rajasthan conciliation committee, she plays a pivotal role in shaping policies that promote fairness and professionalism in the Indian real estate sector. Her commitment to driving positive change has earned her a well-deserved reputation as a transformative leader. Jaipur Dream Realtors: A Legacy of Trust and Excellence Founded by her husband Mr. Sanjay Agarwal, Jaipur Dream Realtors Pvt. Ltd. has grown into one of Rajasthan’s most trusted real estate firms, with a strong presence across India. Today, under the capable leadership of Ms. Alpana Sanjay Agarwal and their son, Mr. Sanyam Agarwal, the company continues to thrive, offering expert advisory, investment solutions, and property management services. Renowned for its integrity and customer-centric approach, Jaipur Dream Realtors specializes in both commercial and residential real estate, helping clients make informed and profitable property decisions. Their dedication to ethical business practices has solidified the firm’s reputation as a beacon of trust in the industry. Expanding Horizons with Terrayo Ms. Agarwal’s influence extends beyond Jaipur Dream Realtors. As the Director of Terrayo, she is steering the company toward becoming one of India’s leading commercial real estate advisory firms. With a focus on strategic growth and innovation, she aims to position Terrayo at the forefront of India’s evolving real estate landscape, offering expert solutions for large-scale commercial projects. A Visionary Beyond Business Ms. Alpana Sanjay Agarwal’s accomplishments are not limited to business alone. With a Bachelor’s in Science, a Master’s in Arts, and a B.Ed. from Rajasthan University, she combines academic excellence with practical expertise. Her diverse interests in philanthropy, travel, art, and interior design bring a creative and compassionate touch to her professional endeavors. She believes that real estate is not merely about transactions—it is about creating meaningful, sustainable, and inspiring spaces. Building a Lasting Legacy Ms. Alpana Sanjay Agarwal’s journey is a testament to resilience, vision, and impactful leadership. By carrying forward the legacy of her late husband, Mr. Sanjay Agarwal, and guiding Jaipur Dream Realtors alongside her son, Mr. Sanyam Agarwal, she is shaping the future of Indian real estate. Her unwavering dedication, ethical principles, and innovative mindset ensure that she is not just building properties she is building a lasting legacy that will continue to inspire generations to come. Alpana Sanjay Agarwal Founder, JAIPUR DREAM REALTORS PVT.LTD. jaipur@jdrpl.com

About Real Estate Channel Partners Myth: Buying a property through a channel partner is more expensive. Fact: Channel partners are part of the builder’s sales strategy. Their fees are included in the developer’s marketing expenses, ensuring there’s no additional cost to the buyer. Myth: Online platforms and Google eliminate the need for real estate agents. Fact: While technology is useful, it cannot replace the personalized service and expertise offered by channel partners. They provide tailored advice based on factors like location preferences, budget flexibility, possession timelines, and family needs—something no website can fully replicate. Myth: Channel partners don’t play a significant role in property transactions. Fact: Channel partners drive a major share of real estate sales. In cities like Pune, 70% of transactions come through channel partners. Leading developers like VTP, VJ, Lodha, and Godrej rely heavily on channel partners for their sales success. Myth: Buyers must pay brokerage when purchasing new properties through channel partners. Fact: Channel partners do not charge buyers any fees for new property purchases. They earn commissions directly from the builder as part of the builder’s sales process. Myth: Anyone can become a broker or channel partner without training or qualifications. Fact: There is a clear distinction between unregistered brokers and professional channel partners. Channel partners must be RERA-registered and often come with professional experience in banking, insurance, or sales. Many also undergo formal training to provide exceptional service. Myth: Channel partners are only focused on selling properties. Fact: Channel partners offer comprehensive support, including helping with legal documentation, loan assistance, and post-sales services, making the home-buying process smoother for buyers. Myth: Builders don’t trust channel partners. Fact: Developers view channel partners as key stakeholders who help drive targeted sales, expand market reach, and enhance customer relationships through their expertise. Ravi Varma Chairman NAR INDIA About Builders and Developers Myth: Developers always delay project delivery. Fact: Delays are often caused by external factors like local authority government approval/NOCs, policy changes, or sometime supply chain issues. Reputed developers with RERA-registered projects adhere to strict delivery timelines, ensuring accountability and trust. Myth: Builders compromise on construction quality to cut costs. Fact: Respected developers use modern construction technologies, certified materials, and quality audits to ensure durable and safe structures. Transparency in construction processes has increased significantly due to RERA regulations. Myth: Builders inflate property prices to maximize profits. Fact: Property pricing reflects land costs, raw materials, labor, approvals, and amenities. Developers often work on competitive margins to attract buyers, especially in today’s price-sensitive market. Myth: Developers provide false promises and misleading project details. Fact: Under RERA, developers are required to disclose accurate project details, including carpet area, amenities, and delivery timelines. Non-compliance can lead to penalties, ensuring greater transparency for buyers. Myth: New projects have hidden costs that developers don’t disclose upfront. Fact: Transparent developers clearly outline all costs in the agreement and payment schedule. Buyers are advised to check RERA registrations and verify documents for clarity. Myth: Buying from a builder directly is better than going through a channel partner. Fact: Developers and channel partners work hand-in-hand to ensure buyers get the best deals, offers, and services. Channel partners also add value by offering personalized guidance throughout the process. Myth: Only big-name developers deliver quality projects. Fact: Several regional developers deliver high-quality projects while focusing on customer satisfaction. The key is to check their track record, RERA registration, and customer reviews before investing. Shantilal Kataria MD, Aditya Builders

VK GROUP Since its inception in 1973, VK Group has been instrumental in shaping the architectural and urban landscape of modern Indian cities, particularly in oestern and southern India. As one of India’s oldest and most respected frms, oe have groon to offer services in environmental design, urban design, architectural design, interior design, and operations services. These verticals – VK:a architecture, VK:e environmental, VK:i interiors, VK:o operations, and VK:u urban – collectively uphold their ethos of multidisciplinary offerings under one roof. Visionaries driving the Growth: AR. VISHWAS KULKARNI Founder and Partner at VK:a With over ifve decades of expertise, Vishwas Kulkarni has transformed Pune’s architectural landscape through award-winning projects and active contributions to policy and mentorship in AESA, IIA Pune, and other organizations.   AR. HRISHIKESH KULKARNI Partner at VK:a; Founder and Partner at VK:e , VK:u, VK:i MA Environment & Energy, Member, Architectural Association, London, BREEAM QA. Holding Directorship across all verticals, Hrishikesh Kulkarni utilizes 25+ years of experience to drive design and technical delivery with innovation, a global outlook, and a passion for technology and collaboration.   DR. POORVA KESKAR Co-Founder and Partner at VK:e environmental; Trustee, Sustainability Initiatives; IGBC Chairperson, Pune Chapter; LEED AP, TERI GRIHA Evaluator and Trainer, ECBC Master Trainer An architect, environmental designer, and educator with 25+ years of experience, Poorva Keskar specializes in climate-responsive and sustainable architecture, contributing as an expert on esteemed boards and committees.   AR. ANAGHA RAJ PUROHIT Co-Founder and Partner at VK:e environmental; Trustee, Sustainability Initiatives. M.Arch – Environmental Planning, ASU, USA; GRIHA Trainer, IGBC Evaluator. An architect and urban environmental planner with 20+ years of experience, Anagha Purohit’s professional work span across nations like USA, and Sweden and actively contributes to professional bodies, including GRIHA, BEE, IIEC, PBAP, CERDAI, and USAID.   APOORVA KULKARNI Head of Operations at VK Group. Trustee, Sustainability Initiatives. B Commerce, MBA (Marketing), Member of CIM (Chartered Institute of Management) UK Apoorva Kulkarni leverages 15+ years of experience to cultivate a high-performance, employee-focused culture at VK while excelling in process-driven management, PR, operations, and ISO certiifcation.   AR. VIJAY SANE Co-Founder and Partner at VK:u urban. Grad. Financial Markets & Property Investment, FINSIA, Sydney Afifliate member, Singapore Institute of Planners With 20+ years of international expertise, Vijay Sane excels in master planning, project management, and ifnancial oversight, highlighted by his work with Philip Cox and a published white paper on megaproject management. CONTACT US: 020 6626 8888

International Property HARMONIA – City Garden Pattaya Treasures for Your Life Discover the exquisite Harmonia City Garden Condominium, a masterpiece of European architectural design nestled in the heart of Pattaya. This luxurious development seamlessly blends opulent living with a healthy lifestyle, personal wellness, and a genuine connection to Pattaya’s unique natural beauty. Our magnificent condominium complex offers an unparalleled quality of life, featuring stylishly designed condos that evoke happiness and fulfillment. The ground floor boasts expansive communal areas and recreational spaces, including a breathtaking swimming pool that encircles the entire complex, lush gardens, and more. This superb low-rise complex, adorned with welcoming decor, immerses you in an island-inspired ambiance, fostering a sense of harmonious balance. Harmonia comprises buildings with eight floors, each surrounded by pools, fountains, walkways, and gardens. Convenient underground parking provides easy access to various facilities, including restaurants, cafes, massage shops, and a rooftop bar with a garden landscape. This true oasis of five-star leisure and healthy lifestyle living offers an island vibe within one compound. Located in a prime central area of Pattaya, Harmonia City Garden ensures the happiness and lifestyle you deserve. It is conveniently close to all essential establishments for you and your family’s daily needs, with easy access to Pattaya’s popular attractions. Harmonia City Garden offers spacious one and two-bedroom units designed to evoke happiness and fulfillment. Located in Central Pattaya, it provides a tranquil, natural environment within four distinctive buildings: Castro, Diamond, Apus, and Bella. Our luxurious project features five-star facilities, promoting harmony between people and nature. The first floor fosters a sense of connection, while the upper floors continue to offer serene and fulfilling living spaces. Harmonia City Garden is the ideal place for a healthy, thriving lifestyle. Contact Us: +66 6-1985-7437 Commercial Property AP4 Tech Park by Amar Builders & Pristine Properties – Pune East AP4 Tech Park,a Pre-Certified IGBC Platinum Rated*, an IT Park located in Kharadi, spans over 17.35 acres and offers a range of IT Office Spaces. The expansive IT Park development has meticulously designed wings offering IT Office spaces of approx. 4 Million Sq.Ft. of Self-Sustained Campus. Configuration & List Price IT Offices – Each Unit Ranging from 13,615 Sq.Ft – 18,033 Sq.Ft Start at 18.10 Cr + Govt.Taxes.   Ambrosia Galaxy by Divyasparh Group – Pune West Ambrosia Galaxy is a boutique commercial project located at Pancard Club Road, Baner, Pune, offering premium office spaces with modern infrastructure. Strategically positioned near major highways and business districts, it ensures seamless connectivity. The project focuses on creating a vibrant work environment that fosters innovation and well-being. With state-of-the-art facilities and professional management, Ambrosia Galaxy supports business growth and success. Configuration & List Price Commercial Offices – Each Unit Ranging from 457 Sq.Ft – 1386 Sq.Ft Offices start at 1 Cr + Govt.Taxes.

TDS applicability on property sale transactions by non residents (NRI’s) As per Indian Tax Laws, TDS provisions apply on various financial transactions in India. TDS is also applicable on Property Sale Transactions in India. In relation to property sale matter, if the seller is Resident Indian, TDS rate is 1% and governed by Section 194IA. However, if the seller is Non-Resident (i.e. NRI, OCI, Foreign Residents), TDS is governed by Non-Resident TDS provisions i.e. section 195. Under the Non-Resident TDS provisions i.e. Section 195, TDS rates apply at the maximum rates on the Sale Amount of Property. This Rate is 12.5%, if property is Long Term Capital Asset. If the Property is Short Team Capital Asset the tax will apply as per regular slab rates maximum being 30%. Subject to, Applicable surcharge and 4% cess is extra.   TDS Rate and Difficulties on Non-Resident Property Seller Generally, in all property sale transactions, it happens that the actual tax liability in the hands of the tax payer (non-resident seller) is lesser than the proposed TDS on that transaction, due to various factors. The pain of Non-Resident property seller can be understood by an example, E.g. An NRI agrees to sell a property @ 1 Crore, and property purchase cost (without indexation) in the hands of NRI is Rs 50 Lakhs. Hence, a capital gain arises for Rs 50 Lakhs. Now, as per Non-Resident TDS provisions (Sec 195), considering property is a long term asset (i.e. holding period exceeds 2 years) the applicable TDS is 13.80% (12.5% + SC 10% + CESS 4%) of sale amount i.e. Rs 13.80 Lakh. Though Actual Tax Liability is Rs 6.50 Lakh only i.e. 13% of Rs 50 Lakhs (12.5% + 4% cess; SC not applicable upto Rs. 50 Lakhs gain). Hence, in the above situation, as per applicable NRI TDS provisions 13.80 Lakhs TDS will be deducted against actual tax Liability of Rs 6.50 Lakhs. Though, NRI can claim the excess TDS refund (Rs. 7.30 Lakhs) through filing of ITR. However, it is a time taking process and no assurity of getting the said refund. If TDS deducted on full amount, Non Resident money will be blocked with Income Tax Department for a long time, which causes loss of Interest or Investment earnings also. Hence, this is a Genuine Hardship on the Non-Residents (NRIs, OCIs) in relation to their property sale matter transactions in India. To overcome this situation, Income Tax Act provides for Lower TDS Certificate (or also called as TDS Exemption Certificate) under section 197 of Income Tax Act.   NRI Lower TDS Certificate or TDS Exemption Certificate – Section 197  To seek relief in the Withholding Tax Rates, NRI/Foreign Citizen can apply for Lower TDS Certificate (TDS Exemption Certificate) with the Jurisdictional Income Tax Authority. On submission of documents, the application moves to the Jurisdictional TDS Certificate Officer. The officer reviews the application and raises observations & further requirements if any. On satisfying all the concerns, the officer processes the certificate and allows Lower TDS to the NRI/Foreign citizen in relation to the transaction.  On receipt of the Lower TDS Certificate (or TDS exemption certificate) the buyer deducts the TDS as per Certificate. Hence, through this process NRI/Foreign citizen gets TDS relief before the sale transaction, and avoid blocking of their money with Income Tax Department.   Changes after July 2024 Budget. After 23rd July 2024, as per new Budget, Resident Individuals have been granted 2 options while selling their property bought before 23rd July 2024, they can either calculate and Pay Capital Gains Tax @ 20% with Indexation Benefit or @12.5% without Indexation Benefit whichever is more Beneficial for them. However after Budget 2024, The Benefit of Indexation is NOT available to NRI’s. They have to calculate the Capital Gain only as per New Scheme which is 12.5% without Indexation and hence opting for LTDC is the only relief to safeguard their interest and pay tax ascertaining real value of gain   Synopsis To reduce TDS on property sale by NRI is needed to furnish the application within the Income Tax Department to provide the certificate for Nil/Lower Deduction of TDS, the same certificate assists the NRIs in reducing the TDS liability, and hence most NRIs chooses for the same Certificate. But furnishing the form is a tough chore also Communication with Income Tax Authorities for getting Certificate is also tough task thus the majority of NRIs opt for the Chartered Accountant to furnish the application.   Anand Sham Chandak Proprietor, CA Anand Sham Chandak & Co. Chartered Accountant