Can landlords ask to vacate property in 10-day notice?

Magicbricks Moderator says: User queries are becoming increasingly popular with our surfers. This time we present a student's query. 

"Hi, 

I am a student from Bangalore. I live with three other friends in a 2 BHK flat. One more friend wants to join us here. The problem is that the landlord is objecting to this. He argues that he had rented the flat to four persons. He does not want to accommodate more tenants in this flat. However there is no document to prove his point. Now he has asked us to vacate the place in just 10 day notice.
 

- Is his objection valid?

- Can the landlord decide the number of tenants?

- Can he throw us out in 10 days?

Please help.”

Magicbricks launches The Earth Initiative

Magicbricks Moderator says: Magicbricks launches ‘The Earth Initiative’ as part of its commitment to the green cause. Earlier, we had organised a green walk for Gurgaon-based real estate developer Vatika Ltd. This walk - held on March 28 - was a huge success as more than 600 people vowed to save energy.

Continuing this tradition, Magicbricks presents this new segment where we would highlight green initiatives taken by individuals, real estate builders, real estate brokers and civic authorities.

Join this mission.

Tell us what would you do to save energy or promote green habits among people? Also, would you shut down energy for an hour- between 8.30 to 9.30 pm – tonight as part of Earth Day practice? Share your responses in the comments section.

Is it wise to invest in real estate now?

Magicbricks Moderator says: We receive many user queries for this blog. Here’s an interesting one. Help our user. He wants to know if this is the best time to park funds in real restate via the share market.

USER QUERY:

“I want to invest my funds. Share prices for most property developers have hit rock-bottom. Will it be wise to invest in shares of property developers, especially when I can buy them for a cheap price?

Please guide.”
- Narayan

Will falling rentals induce demand in realty market?

Magicbricks Moderator says: Economic slowdown is a blessing in disguise for many. While some real estate developers have frozen their expansion plans, many others are still optimistic and making the most of falling markets. For example, rental values have stagnated for most prime locations. Many retailers, who had once shunned expansion owing to high rentals, are reconsidering expansion.

Will falling rentals trigger demand in the market? Will retailers or individuals think about renting/leasing in this ‘slow’ market?

Need your opinions on this. Please write in the ‘comments’ section.

Need flat and furnishings on rent in Mumbai

Magicbricks Moderator: A user, working with an IT company, is being transferred to Mumbai. He wants to take a flat on rent. To save costs, he wants to rent furniture and other furnishing articles as well. His query runs as follows:

User Query: I want to rent a flat and furnish it in Mumbai? Where do I go? How do I get started? Renting is not so much a problem, but furnishing has become a headache. I don't want to BUY a fridge, TV, sofa, bed, cupboard, wardrobe etc. as I may have to move back home soon.

Is there any place where I can get an apartment and the necessities on rent?

Vatika Earth Walk concludes successfully

Magicbricks Moderator says: Vatika Earth Walk – held on March 28 – turned out to be a huge success. This eco-walk was organised in Gurgaon, Haryana by property portal Magicbricks.com as a prelude to the Earth Day events.

More than five hundred citizens turned up to participate in the walk from Vatika Towers at Sector 57 to Sector 56 Main Chowk. The Municipal Commissioner of Gurgaon Rajiv Sharma formally inaugurated the event and led the walk. He exhorted the citizens in making Gurgaon a clean and green city.

Did you participate in this walk? Were you a part of any such green initiative on the Earth Day?

Share your experiences in the ‘comments’ section.

Click here for a detailed coverage of the Vatika Earth Walk

Carpet area v/s built-up area. Do you know these terms?

Magicbricks Moderator says: Property-related terms can confuse many. Often users are confused between terms like carpet area, plinth area, built-up area and super built-up area. These terms are used widely by developers to define the area space being offered in their property. 

Do you understand the terms carpet area and built-up area?

- Yes

- No

Answer in the 'comments' section.

Will affordable housing sell in this lean season?

Magicbricks Moderator says: Real estate developer DLF Ltd has revised price tags for its Bangalore project. The new price for Bannerghatta Road project is Rs 2,100 per sq ft. Earlier, this project was being sold at Rs 2,775 per sq ft.

Similarly, many other big-wigs have shown interest in the affordable housing category. Mahindra Lifespaces has recently announced a residential project in the affordable category. Other developers like Matheran Realty, Indu Projects, Shriram Properties, Jain Heights and Structures, Ansal Properties and Shapoorji Pallonji have already announced projects in this category. Will this move boost property sales?

Send your answers in the ‘comments’ section.

Differential rate of interest for home loans. Fair or unfair?

Magicbricks Moderator says: In its bid to boost the realty segment, many state-owned banks have announced home loans at reduced rates. After the rate cuts, SBI home loans of up to Rs 30 lakh, for tenures between 15 and 25 years, will be available at 9.5%. Loans of Rs 30 lakh to Rs 75 lakh at 10.75% and those above Rs 75 lakh at 11%. 

The government is proposing a differential rate of interest for home loans more than Rs 75 lakh. What would you call this measure?
- Fair
- Unfair

Share your view in the ‘comments' section.

Participate in our fortnightly survey. Click here…  

Is slow market an opportunity for buyers?

Magicbricks.com Moderator says: Public sector banks have slashed home loan interest rates. Loans up to Rs20 lakh will now be available at 8.5-9.25 per cent a year for tenures up to 20 years. This, and similar other sops are expected to spark some activity in the current market scenario. Real estate developers are doling out lucrative offers to rope in buyers.

Do you think these measures will lure more buyers? Also, is slow market an opportunity for buyers to bargain?

Share your views in the ‘comments’ section.

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