Tag: Property

TMR: Hyderabad residential property registrations witness a monumental high

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Hyderabad, the city of the Nizams and the pearls, has witnessed tremendous growth in terms of real estate expansion in recent years. As a thriving IT hub today, the city has expanded its horizons to accommodate the dreams of several people who now call it home. No doubt, this has translated to a surge in real estate demand, both for residential and commercial places.

While the real estate sector in many other cities continues to pick up momentum in the aftermath of the pandemic, Hyderabad has witnessed a monumental high in terms of its residential property registrations. The industry recorded a 30% YoY rise in property registrations in September 2023, compared to the September 2022 season, according to market researchers and industry experts.

Figures state that the total value of properties registered during the month stood at a whopping Rs. 3,378 crore. This figure too has increased by 42% YoY, thus highlighting the trend of the sale of more expensive homes.

The Hyderabad residential market is made up of four districts – Hyderabad, Rangareddy Medchal-Malkajgiri, and Sangareddy.

According to the report, the highest proportion of property registrations in Hyderabad in September 2023 was in the price range of Rs. 25 – 50 lakh. It accounted for about 51% of the total registrations. At the same time, properties priced below Rs. 25 lakhs constituted for about 15% of the total registrations, whilst the share of sales registrations for properties priced Rs. 1 crore and above was 9%.

Majority of these properties registered belong to the range of 1,000-2,000 sq ft, as this category of home size accounted for about 71% of registrations. The registrations for smaller homes (500-1,000 sq. ft.) however fell to 14% during September 2023, from 16% in September 2022. On the other hand, properties larger than 2,000 sq. ft., witnessed an increase in demand, as registrations rose to 11% during September 2023, from 9% in September 2022.

District wise, Medchal-Malkajgiri secured the top position with 45% home sales registrations, while Rangareddy district followed closely with 41% sales registrations. Interestingly, Hyderabad district accounted for just 14% of the total registrations in September 2023. The report also highlights that a large concentration of bulk transactions were for plush properties, which were bigger in size and offered better facilities and amenities.

Following the development activity in the city, developers in Hyderabad have prioritized the launch of larger units and independent homes, to give the market a further boost.

At TMR Group, we offer gated community open plots to build the homes of your dreams. Our vaastu compliant plots with amenities and profitable returns assure you of a flourishing future. TMR Green Meadows at Chegunta, in Medchal, and TMR Swiss County at Maheshwaram in Rangareddy offer prospects for a thriving future. To know more about these projects, visit  https://tmrinfra.com/

TMR: All you need to know about wills & gift deeds!

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Real estate has been one of the most preferred investment options globally. No doubt these immovable assets are India’s favourite when it comes to investments, legacies and bequeathing. However, thorough estate planning is essential to minimise any issues that may crop up in the future with regard to both, immovable and movable property.

There are two ways of passing on your assets to your loved ones. Through a will or a gift deed. Let us understand the difference between both and how to go about planning your will and gift deeds in this blog.

What is a will?

A will is a ‘written expression of the intention of the Testator (maker of the Will) as to the mode and manner of division of his/her properties (movable and/or immovable) to such person(s) as he/she may deem fit.’ To put it simply, it is a legal document written while the testator is alive and takes effect after his or her death.

How to make a will?

Any individual who is competent and of sound mind can bequeath his/her assets by making a Will. It can be written either by the Testator, or his agent and must be attested by at least two people, who are third parties to the will. While there are no prescribed formats when it comes to writing your will, the following points need to be covered:

  1. The name/s of Testator’s legal heirs and/or family members, if any;
  2. The name of the person/s to be appointed as ‘Executor’ who will carry out the directions and requests of the Testator in the Will. They will be in charge of the management and disposition of the assets there in the will;
  3. Details of all the assets owned/acquired by the Testator till that point, and;
  4. The mode and manner of distribution of the Testator’s assets

It is not necessary to register a Will to render it enforceable. A will can also be revised a number of times till the Testator is alive. Experts however advise getting it registered to minimise potential disputes amongst the heirs in future

What is a gift deed?

A gift under Section 122 of the Transfer of Property Act is defined as the transfer of asset/property made without consideration by a donor (asset owner) of his own free will. A gift is transferred during the lifetime of the parties and takes effect, subject to acceptance and/or delivery, etc. immediately upon the registration of the gift deed or immediately upon delivery and acceptance thereof in the case of movable property.

In layman’s terms, a gift deed is an agreement made between a donor and a donee that outlines the simultaneous and reciprocal act of giving and receiving. For a gift to be valid, it must be given voluntarily rather than under duress and without the exchange of money.

How to make a gift deed?

There are two key points to be noted when it comes to gift deeds:

  1. Acceptance: It is a legal necessity that the gift is accepted by the recipient after it has been executed and during the donor’s lifetime. If the donee does not accept the gift, it becomes void.
  1. Acceptance: It is a legal necessity that the gift is accepted by the recipient after it has been executed and during the donor’s lifetime. If the donee does not accept the gift, it becomes void.

A gift cannot be revoked, unless both the parties, i.e, the donor and donee agree to the same. At the same time, if the gift is intended to be made in favour of a person who is not your relative, and the value of the property which is the subject matter of the gift exceeds INR 50,000, as of the date of the gift, the recipient of such property has to include the market value of the property in his total income in the year of the receipt and has to pay the appropriate tax on such gifts.

Wills and gift deeds both have their own share of pros and cons. One has to consider multiple points before deciding on a specific course of action. Having said that, both are a symbolic representation of your love towards your near ones. Making the right investment choices which are beneficial to you and your family even in the future is a must. With TMR Group, invest in plots of the future that bring assured profitable returns in the future. These plots in and around Hyderabad are located in the midst of development projects and offer massive development scope and ROIs. To know more about these future lands, visit https://tmrinfra.com/

Conveyance Deed, explained!

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While owning a property, there are a plethora of documents that need to be taken care of. It is the burden of such tedious documentation processes that irks most property buyers. Regardless of the time taken to process these documents, they are indeed crucial elements that make the entire experience of buying a property wholesome. This article would dwell deep into one such article that’s meant to be quite an important one – conveyance deed. We would understand all that we need to know about this property document.

Conveyance Deed 101

Understanding what Conveyance Deed is, the definition of the term states that it is a legal document between a person transferring the property and the one in whose name the property is being transferred. This deed indicates that the property’s title or ownership has been successfully transferred from one person to another.

A Conveyance Deed is indeed an essential document to ascertain that the property is free from any type of restrictions and/or disputes. In case of any disputes relating to the agreement, this document can prove to be handy in court, as it carries the official signatures of both parties. So, now that we know what a conveyance deed is, let’s turn the page and look at its contents.

Inside the Conveyance Deed

The contents of the deed are clear as day and they are as follows:

  • The deed contains all the details regarding the distinction and division of the property with actual demarcations of the concerned property
  • It has all the basic information related to both the parties such as name, age, addresses and other related details
  • Most importantly, the deed bears the signatures of both the parties involved
  • Following the signatures, the deed contains all the relevant terms and conditions related to the transfer of the property
  • The deed also entails the method by which the property would be delivered to the buyer (post, email, courier, etc.)
  • In the deed, the chain of title is registered in a clear-clear way
  • Another important aspect of the document is the sale deed which indicates the sale of any property
  • The deed also contains other applicable transfers of ownership rights, which are also clearly mentioned
  • Now that we know what goes into making the Conveyance Deed, let’s understand why it is so important.

Significance of Conveyance Deed

Though it is not talked about much in our daily conversations, the conveyance deed is quite a significant document that can save big bucks and lives in a way. This deed is legally documented proof that affirms the transfer of the ownership rights of the property to the buyer. A conveyance deed is a strong piece of evidence in case of disputes as it has all the terms and conditions clearly marked and stated. The deed holds a tough position when it comes to certifying that the concerned property is free from any dispute.

At TMR Group, our team of experts provides you with a hassle-free documentation service so that you do not have to go through the problem of tedious processes. With Phase-I already sold out at the 50 acres of a gated community at TMR Green Meadows, Phase-II bookings are open. You can book your plot today and we’ll ensure that the process is going to be really smooth. If you wish to know more about the project, please visit www.tmrinfra.com/projects/ongoing/green-meadows/green-meadows-plots-in-chegunta-hyderabad.html