. From the Chairman s desk The Union Budget 2016-2017 has been a balanced one for the whole country and will surely work really well in parity with the current government. With infrastructure and investment being amongst the nine pillars to transform India, the budget has built a road for real estate development. With the first time home buyers getting an additional exemption of Rs 50,000 for housing loans up to 35 lakh, provided the value of the home doesn t exceed 50 lakh ; the affordable housing sector will get a big boost. The real estate sector had expected some major inclusions from budget to help uplift the real estate market and simultaneously balance the sentiment a little. The market was in need of new home buyers to bring in the lost cheer and I feel that the taxation measures for promoting affordable housing and increasing activities in the housing sector were the need of the hour that has been addressed. The development of the new credit rating system for infrastructure will also be of great benefit for the developers. Moreover, the budget has proposed outlay of Rs. 2.21 lakh crore on infrastructure development which will further boost the real estate sector as the development of roads and highways automatically increases the demands for the commercial, retail and residential real estate. It was very aptly quoted by Mr. Jaitely that the domestic demand has to be increased and the government has to prioritize its sectors to bring in the macro-economic stability. It is very good news for all of us and I am hopeful that this budget will revive the housing demand in the country. In the month of February, Saloni and I also attended the R4 Convention hosted by RE/MAX LLC and like always it was pleasure meeting our fellow associates of the World's Largest Real Estate Brokerage Company from almost a 100 countries together under the same roof and have some brainstorming sessions. We have some updates shared with you from our trip to Vegas along with the Regional Owners of RE/MAX Greater Visakha, RE/MAX Chennai and RE/MAX Punjab. I hope it was also an amazing trip for them and they will bring all the learning s into practice in their business operations in their respective regions. In the end I would like to wish all of you all the very best. The good times for real estate have finally come and let s make the maximum from it. Cheers! Sam Chopra Content: 1) From the Chairman s Desk 2) From the Vice Chairman s Desk 3) Events to Look Forward to 4) News from RE/MAX India 5) Sales Snapshot 6) News from RARE 7) What's new in social media and Marketing 8) Look who is in Spotlight this time 9) Press Buzz 10) News from Regions and Broker Offices 11) News from RE/MAX LLC 12) RE/MAX Anniversaries 15)RE/MAX India welcomes its 13) RE/MAX Heroes of the Realty month Review 14) Realty Bytes February, 2016 New Broker Associates
From the Vice Chairman s desk A big hello to everyone from Vegas! R4 like every year was Reuniting, Refreshing, Rewarding and left a spirit of Re-commitment in everyone who attended the Convention. With the fun session with the legendary comedian and entertainer Jay Leno giving the 2016 R4 off to a rollicking start to the prestigious award ceremony for the top performers in the network, R4 was an energy infused event. The Union Budget of 2016 17 also brought with it some immediate positives for the real estate sector like exemption of service tax in affordable housing, increase in HRA, deduction in home loan, and removal of DDT from REITs etc. We all were in a great need of bringing back the lost confidence of the buyers and I am sure that these announcements and policies for the first home buyers and tax exemptions are expected to do wonders. We all look forward to timely implementation of all the announcements and are sure that it will give light to the dark areas of our sector. In the month of February the teams of RE/MAX India, RE/MAX Delhi NCR and RE/MAX Madhya Pradesh very actively contributed in the Blood Donation camps organized by NAR India. Sam and I are super proud of this spirit of giving back to the community and are sure that our other affiliates would have also contributed to this noble cause at their level. This month s newsletter also covers Hirav Shah from RE/MAX Realty Solutions from RE/MAX Gujarat in the Spotlight section sharing his experience with Exclusive Mandates, which will be of great learning to everyone. We have also started RE/MAX India s blog section on our website, wherein we have blogs starting from the market trends of Real Estate to some tips for the customers to help them in making a smart Real Estate investment. With it being an informational platform for all kind of visitors, we hope that it turns out to be a good read for all of you. At last I would like to welcome all the new Broker Owners and Broker Associates that have joined our network and congratulations to the team of RE/MAX Realty Solutions, RE/MAX Gujarat for being the Top Recruiters for the month and Rani Vengapalli and Abhishek Chopra from RE/MAX Greater Visakha and RE/MAX Mumbai respectively on being the Top Transactors for the month! Wishing everyone a very fruitful month ahead! Regards Saloni Chopra
Events to look forward to in March!
News from RE/MAX India A big hello to everyone from Las Vegas R4 WE ARE RE/MAX - A sheer magic is created when the Top 100 Leaders of the World's Largest Real Estate Brokerage Company from almost a 100 countries come together under the same roof. The Regional Owners Review Meeting followed by R4, the annual convention organized by RE/MAX LLC was surely an energy infused event helping all the RE/MAX affiliates attending the Convention connect at a single platform to celebrate the achievements of the past year. RE/MAX India s development team spending some quality time with Ms. Bhavani Ganti, Regional Owner, RE/MAX West Hyderabad after the Brokers Owners Management Training at the National Headquarters, Gurgaon.
#BloodConnect Blood Donation camp by NAR India! In the month of February, NAR India, a national level organization representing thousands of realtors and brokers operating all over the country organized a Blood Donation camp in different parts of the country and the Chairman of RE/MAX India, also the President Elect for NAR India 2016-17 played a very vital role by participating, organizing and promoting the event. We would also like to give a big round of applause for Shipra Sharma and Abhishek Jain from RE/MAX India team and the entire team of RE/MAX Realty Services, RE/MAX Madhya Pradesh who supported this #BloodConnect initiative! And the number keeps increasing, the network keeps growing! Happy Hours - RE/MAX India team sharing some light moments on the FUNdatory Saturday!
Sales Snapshot RE/MAX Southern Karnataka and RE/MAX Bangalore Snippets from the Discovery Days organized by the Regional Owners of RE/MAX Southern Karnataka and RE/MAX Bangalore along with a small Broker Associate recruitment drive organized by the Broker Owners of RE/MAX Landmark, the newly appointed office in Southern Karnataka sharing the business opportunities available with RE/MAX. News from RARE Weekly webinar series by the RE/MAX Academy of Real Estate Stay tuned for the weekly webinar series covering various topics from Real Estate to your business and personality development!
RE/MAX Academy of Real Estate certifies another batch of Broker Owners in the month of February! The February batch of Brokers Owners Management Training this time had representation from the newly appointed Broker Owners from the regions of RE/MAX Punjab and RE/MAX West Hyderabad. In addition to the learning s from the classroom sessions, the BO s also visited Mr. Yuvraj Singh Shekhawat, Broker Owner, RE/MAX Solutions Specialists and his Associates to have a practical view on running a RE/MAX franchise! We would like to wish them all the very best for their journey with us!
Training feedback from the Regional Owner of RE/MAX West Hyderabad What s new in social media and marketing! We hope that you have checked out RE/MAX India s blog section wherein we have blogs on the market trends of Real Estate to some tips for the customers to help them in making a smart Real Estate investment. With it being an informational platform for all kind of visitors, we hope that it turns out to be a good read for all of you! You can visit the section from the RE/MAX India s website, www.remax.in by simply clicking on the tab for Blog or you can directly visit the page by clicking at http://remax-india.blogspot.in/
Press Buzz Read about the journey of Mr. Sam Chopra as a realtor and his views as an industry expert on the real estate market and the upcoming trends featured February 2016 Edition of Chromohomes Magazine. Publication: Chromohomes Magazine LINK: https://www.joomag.com/magazine/test-drive/0278664001456595275 - Page No. 54 56 Authors article by Mr. Sam Chopra in ETRealty.com on Union Budget 2016 17 for Real Estate. Publication: ETRealty.com LINK:http://realty.economictimes.indiatimes.com/news/indust ry/budget-has-built-a-road-for-real-estate development-samchopra-re/max-india/51192199 Real Estate hails the budget 2016 Expert quotes as industry veterans. Publication: 99acres.com LINK:http://www.99acres.com/articles/real-estate-industryhails-budget-2016.html
RE/MAX India s views on budget 2016 Publication: Realty and Fact magazine (online version) LINK:http://www.realtyfact.com/real-estate-experts interviews-blogs-opinions-views-updates-of-indian-realestate-industry/ Mixed reactions from the Real Estate sector on Budget 2016 Publication: Publication: Realty and More Magazine (online version) LINK: http://www.realtynmore.com/real-estate-industry-givesthumbs-up-to-budget-steps/ RE/MAX India s viewpoint in the form of industry reaction on the hike in the registration rates in Noida and Ghaziabad real estate market. Publication: The Tribune Expectations of the Real Estate industry from the Union Budget 2016-17. Publication: 99acres.com LINK:http://www.99acres.com/articles/smart-cities-and- affordable-housing-should-be-the-focus-in-union-budget-2016-17.html
Quote by Mr. Sam Chopra as an industry veteran sharing his expectations from the Union Budget 2016-17 PUBLICATION: Mail Today A Special quote by Mr. Sam Chopra on the industry reaction on the hike of registration rates in Noida and Ghaziabad real estate market. Publication: Mail Today A special quote by Mr. Sam Chopra on the industry reaction on the hike of registration rates in Noida and Ghaziabad real estate market Publication: The Economic Times (Hindi)
News from Regions RE/MAX Greater Visakha and RE/MAX Chennai RE/MAX Delhi NCR In words of Mr. Praveen Balaram, Regional Owner, RE/MAX Greater Visakha Regional Owners Management Training at the World Headquarters of RE/MAX followed by R4 was all about learning and sharing of best practices. During the course I learned a lot and it really helped me in seeing the bigger picture. I look forward to working back with all the other Regional Owners in India to show the power and capability of the Indian Real Estate market. RE/MAX Punjab In the month of February, RE/MAX Solution Specialists had a special visit from the Broker Owners from RE/MAX Punjab, and RE/MAX West Hyderabad to have a practical view of running a RE/MAX Franchise. Another proud moment for RE/MAX Delhi NCR was when the team of RE/MAX Complete Solutions received a great testimonial from one of their client! The office has set a perfect example of THE CUSTOMER SERVICE PHILOSOPHY IN REAL ESTATE! A word of appreciation from the Chairman. Regional Owner of RE/MAX Punjab and CMP, Mr. Harinder Nagpal having some fun moments at R4!
News from RE/MAX LLC
RE/MAX Anniversaries (February) Name of the Region Broker Office Name Broker Owners Name Number of Years RE/MAX Gujarat REMAX Corporate Services Aashil Patel 2 Years RE/MAX Rest of Tamil Nadu RE/MAX Arasan Properties RE/MAX Arasan Properties 2 years RE/MAX West Hyderabad RE/MAX Realty Services Phannesh H 1 Year Top Listors for the month of February Heroes of the month #1 V Sreenivasa RE/MAX First Choice RE/MAX ROTN #2 Narendra Barot RE/MAX Realty Solutions RE/MAX North Gujarat #3 Sandeep Pandya RE/MAX Dreamz RE/MAX North Gujarat Top Recruiter for the month of February #1 Nirav Vakharia, Manpreet Vakharia and Harit Parikh RE/MAX Realty Solutions RE/MAX North Gujarat Top Transcator for the month of February #1 Vangapalli Jhansi Rani RE/MAX Vision Solutions RE/MAX Greater Visakha #2 Abhishek Chopra RE/MAX Sun REALTORS RE/MAX Mumbai
Realty Bytes Budget 2016: Measures announced for real estate sector are growth accretive FM Arun Jaitley presented the Union Budget 2016 in the backdrop of easing inflation coupled with growth challenges which the country needs to address on a war footing. A slew of measures have been proposed which aim at providing the much needed boost to the real estate sector. Key proposals relating to the real estate sector are: * Much awaited exemption from levy of dividend distribution tax on amount of dividends paid by a special purpose vehicle to FM Arun Jaitley presented the Union Budget 2016 in the backdrop of easing inflation coupled with growth challenges which the country needs to address on a war footing. A slew of measures have been proposed which aim at providing the much needed boost to the real estate sector. * 100% deduction on profits earned by an assessee engaged in developing and building affordable housing project, subject to certain conditions which should enable investments in the affordable housing sector and meet the objective of providing shelter to the masses at affordable in line with the Government objective of 'Housing for all by 2022'. * Section 50C of the Act provides for mechanism for determining value of land or building or both for determining the capital gains on their transfer, * Section 50C of the Act provides for mechanism for determining value of land or building or both for determining the capital gains on their transfer, a controversy existed where the date of agreement and date of registration of such land or building or both were not same. In line with the existing provisions of section 43CA of the Act i.e. when an immovable property is sold as stock in trade, it has been proposed to provide that stamp duty value on the date of agreement may be taken for the purpose of computing the full value of consideration. This would put an end to the controversy which existed for determining the date where there is a gap between the date of agreement and execution of sale deed. * Increase in period for acquisition or construction to 5 years (from existing time limit of 3 years) from the end of the financial year in which such capital was borrowed for providing deduction in respect of interest on borrowed capital. Such increase would provide relief to the taxpayers where the period of acquisition or construction exceeded 3 years. * Simplification of provisions in respect of unrealized rent and arrears of rent; a single section (section 25A) has been proposed to be inserted to provide that amount of rent received in arrears or amount of unrealized rent received subsequently shall be chargeable to tax in the financial year in which such rent is received or realized. Further, it has also been provided that 30% of such amount shall be allowed as standard deduction. Given that the real estate sector contributes approximately 7.5% of the GDP directly and through allied activities, the proposed measures introduced by the FM are real estate sector growth accretive and a welcome step SOURCE: http://economictimes.indiatimes.com/wealth/real-estate/budget-2016-measures-announced-for-real-estate-sector-aregrowth-accretive-says-ajit-krishnan-tax-partner-real-estate-ey/articleshow/51195578.cms RE/MAX Anniversaries (February) Name of the Region Broker Office Name Associate Name RE/MAX Gujarat RE/MAX Realty Solutions Narendra Barot RE/MAX Delhi NCR RE/MAX Solution Specialists Ashish Srivastava RE/MAX Gujarat RE/MAX Red Realtor Chirag P Survarnakar RE/MAX Rest of Tamil Nadu RE/MAX Aikya J Jell Louis Arul Ananthanam RE/MAX Gujarat RE/MAX Realty Solutions Jatin Vakharia