DREAM HOUSE/FLAT
OWN HOUSE IS A DREAM OF EVERYONE, POOR OR AFFLUENT. NRIs also are no exception. Many NRIs did not/could not acquire their OWN HOUSE for various reasons. Below are some of the thoughts/reasons of NRIs:
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at my current financial status, I cannot afford to buy/build my dream house. Will wait till position improves
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we are happily staying abroad with family, don't know when we will return, so there is no need for a house now in
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there is nobody in
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we want to build/buy a house/flat. But we cannot trust any builder. All builders I know have over-promised and under-delivered. There is no one in
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back in
Recently through the initiatives of Mr. Venugopal from
The following write-up is pursuant to such a request.
We shall deal with the above attitude of NRIs, one by one.
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You may acquire a dwelling unit which you can afford. You can sell and buy another one when situation improves. Or if you are confident of improvement, you can take a loan and buy one. Property always appreciates given the current trend. Property is the best investment with sure appreciation. So anytime is good enough for acquiring property. Besides loans are available for acquiring property. SO THINK!!!
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for any NRI, staying abroad indefinitely is not possible especially in Gulf countries. Their residence status is dependent upon their employment status. Hence a dwelling unit in the home country is a must. Cost of building/buying a house/flat may become prohibitive when you finally decide to have one. In the last 5 years, property prices have risen 300% to 500%. SO THINK!!! (This write up was prepared in 2008)
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This is precisely we are offering you. Your property can be rented/leased in your absence.
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Our proposal to you is to build your own home. We will help you do this as your agents in
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THIS IS NOT CORRECT. There are honest people. But you have to find them. We both are gulf veterans who have spent more than 25 years in the Gulf knowing the aspirations of Gulf NRIs. We do not need to cheat anyone.
NOW having addressed the concerns of NRIs, let us find how this DREAM can be realized.
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Depending on the number of people and their requirement, we have to think of following options
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Whether to form a cooperative society or a limited company or any other method for such ventures. Legal opinion will be obtained. THE MOTO WILL BE ALL FOR EACH AND EACH FOR ALL.
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Depending upon requirement, land is to be purchased. Undivided share of land to be registered in the name of all participants.
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Build your own apartment/flat by you.
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Obtain loans in individuals' names if required.
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It can also be explored if loans can be obtained in the name of a society.
ADVANTAGES OF ADOPTING THIS METHOD
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Price advantage: When you buy land in large area and divide among yourselves, the cost will be 20-35% cheaper than buying small plots of 5-10/15 cents.
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You can directly negotiate with seller thus avoiding brokers and middlemen so that their commission/brokerage (which, sometimes, is very high) is saved. Somebrokers sometimes will take the customer for a ride;
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You can check and satisfy yourselves all documents thus avoiding a problem later. Will also take legal opinion. Builders will not bother about this.
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You can develop the land according your requirement and wish
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A homogenous community can be established.
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When you develop and build yourselves, you can save the profit margins of promoters which, in some cases, runs to more than 100%. They have to spend huge money on establishment, ads and promotional programmes. E.g. TV shows, etc. All these will have to be collected from buyers. When someone says he is offering a flat of 50 lakhs in a contest/lottery, it is the value fixed by him and may not be its real market value or intrinsic value. He will offer this as benchmark price from buyers.
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Some builders fix fancy prices after giving one or two flats to some celebrities free/concessional prices showcasing celebrity presence to lure customers. The celebrities will exist only in name and may not live there.
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Cost advantage: When you build in large numbers, building cost comes down by atleast 30-35%. This is because you buy everything at wholesale prices, you do not need individual compound walls, wells, security, etc. if it is a community project.
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You can have common facilities such as play areas, parks, community halls, security systems, supermarkets, (in some cases even schools) etc. at no extra cost.
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We can buy building materials such tiles, marbles, cement, etc from source thus getting discounts on large purchases. THUS BUILDING COST WILL BE 35-40% LESS THAN INDIVIDUALS BUILDING ON THEIR OWN. TOTAL COST WILL BE 40-45% LESS THAN BUYING FROM A DEVELOPER besides ensuring quality construction according to your requirements and specifications.
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We can engage Architects, Vasthu Experts and interior designers to assist which may not be possible/cost effective by individuals. THE PRESENT TREND IS FOR GATED COMMUNITIES WITH SECURITY AND ALL FACITIES WITHIN.
We are attaching a questionnaire to ascertain your views and requirements to enable us to move forward. Please respond sincerely because this will be the basis on which all future planning will be based.
Please circulate this among as many NRIs you know so that they can participate. Your feedback will help us plan properly. PLEASE NOTE WE ARE NOT PROMOTERS OR BUSINESS PEOPLE BUT ONLY FACILITATORS. WE DON'T TAKE MONEY FROM YOU. YOU WILL BE MANAGING YOUR OWN AFFAIRS.
C. RAMAKRISHNAN & CHANDRAMOHAN
Ramakrishnan is basically an HRD man, had been in UAE from 1978 to 1981 and in
Mr. Chandramohan is a Mechanical Engineer with MBA.and has worked in the construction business in various countries in the Gulf for a long time. Now settled near Ernakulam.
Mr. Venugopal is working in
Please appreciate we are neither builders nor brokers or anyway interested monetarily. We help you realize your dream because of genuine concern.
Please reply to: ramakrishnan_c@yahoo.com/ramakrishnan.chenampulli@rediffmail.com
Other services offered by Ramakrishnan:
(1) Recruitment of manpower: I am associated with a reputed and licensed manpower agency in Chennai and can assist in recruiting manpower to your satisfaction. If anyone interested we can correspond further and negotiate terms.
(2) I can procure any product and service from
(3) I can help find suitable courses/admission in professional and other colleges in Tamilnadu for your wards
(4) I have contacts at Minister level in TN govt and hence can get licenses, NOCs, etc for large scale business in TN particularly in power related projects.
PLEASE CIRCULATE AMONG YOUR FRIENDS TO KNOW THEIR REACTION
RAMAKRISHNAN
(91)9841218578
www.keralites.net |
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