Tuesday, November 1, 2016

Land Measurement Units in India


Land measurement units in India vary from state to state. Measurement of land in North India is done in units such as Bigha, Biswa, Marla, Kanal, Kattha etc. whereas units used in Southern states include Ground, Cent, Ankanam, Guntha etc.

Sizes of units like Bigha, Biswa and Katha also vary from state to state. Although there is an increase in the use of standard units such as Square Feet, Square Yards, Square Meters, Acres and Hectares, local units are still used all across India for measurement of land. We realized that such important information about land measurement units in India is fragmented and should be assimilated at one place.

Hence, in this Table, we have tried to collate all major land measurement units used in India and provided area conversion table & length conversion table for better understanding. 

Area Conversion Table
Following Area Conversion Table gives important conversion factors and a brief description about all area units.
Area Unit
Area Conversion  Factor
Remarks
1 Ankanam
72 sqft
1 Acre is equal to 605 Ankanams. Unit used in parts of Andhra Pradesh and Karnataka.
1 Acre
4840 sqyd
Standard Unit to measure land, used in India and internationally.
1 Are
100 sqmtr
1 hectare is equal to 100 ares.
1 Bigha – Assam/ Bengal
1600 sqyd
Bigha size in Assam and Bengal.
1 Bigha – Pucca (Bihar/ UP-I/ Rajasthan-I/ Punjab-I/ Haryana-I)
3025 sqyd
Pucca Bigha is measured by Shahjahani Jarib of length 165 ft. 1 Pucca Bigha = 165 ft X 165ft. Used in Bihar and parts of UP, Rajasthan, Punjab and Haryana.
1 Bigha (Gujarat/ Rajasthan-II)
1936 sqyd
Bigha size used in Gujarat and some parts of Rajsthan. It is measured by Gantari Jarib of length 132 ft. 1 Bigha = 132 ft X 132 ft.
1 Bigha (HP-I/ Uttarakhand-I)
968 sqyd
Bigha size used in parts of Himachal Pradesh and Uttarakhand.
1 Bigha (HP-II/ Uttarakhand-II)
900 sqyd
Bigha size used in parts of Himachal Pradesh and Uttarakhand.
1 Bigha (MP)
1333.33 sqyd
Bigha size used in parts of Madhya Pradesh.
1 Bigha- Kachha (Punjab-II/ Haryana-II/ UP-II)
1008.33 sqyd
Kachha Bigha is one-third of Pucca Bigha. Used in parts of Punjab, Haryana & U.P. where settlement (bandobast/ chakbandi) has not happened.
1 Biswa – Pucca (UP-I/ Rajasthan-I/ Punjab-I/ Haryana-I)
151.25 sqyd
1/20 Bigha (Pucca)
1 Biswa – Rajasthan II
96.8 sqyd
1/20 Bigha (Rajasthan-II)
1 Biswa (HP-I/ Uttarakhand-I)
48.4 sqyd
1/20 Bigha (HP-I/ UK-I)
1 Biswa (HP-II/ Uttarakhand-II)
45 sqyd
1/20 Bigha (HP-II/ UK-II)
1 Biswa (Kaccha) – (Punjab-II/ Haryana-II/ UP-II)
50.417 sqyd
1/20 Bigha (Kaccha).
1 Biswansi
1/20 Biswa
1 Biswa has 20 Biswansis. Unit used in UP, Rajasthan, Punjab, Haryana, Himachal Pradesh and Uttarakhand. Each state has a different value for Biswansi depending on the value of Biswa/ Bigha used
1 Centiare
1 sqmtr
1 Are is equal to 100 Centiares
1 Cent
435.6 sqft
1 Acre is equal to 100 cents. Unit used in Tamil Nadu, Kerala and Karnataka
1 Chatak
180 sqft
Unit used in West Bengal. 1 Katha (Bengal) is equal to 16 chataks
1 Decimal
48.4 sqyd
1 Acre is equal to 100 Decimals. Unit used in West Bengal
1 Dhur (Bihar/ Jharkhand)
68.0625 sqft
1 Kattha (Bihar) has 20 Dhurs
1 Dhur (Tripura)
3.6 sqft
20 Dhurs (Tripura) is equal to 1 Kranta
1 Ghumaon
4840 sqyd
An Acre is also known as Ghumaon in some parts of Himachal Pradesh, Haryana and Punjab.
1 Ground
2400 sqft
Unit used in parts of Tamil Nadu
1 Guntha
1089 sqft
Karnataka & Maharashtra. Measured as 33ft X 33 ft. 40 Gunthas equal 1 Acre
1 Hectare
10000 sqmtr
An international unit to measure land, 1 hectare is equal to 100 ares or 10,000 sqmtr or 2.47 acres approximately
1 Kanal
5445 sqft
8 kanals is 1 acre. Unit used in Haryana, Punjab, Himachal Pradesh and Jammu & Kashmir
1 Kattha (Assam)
2880 sqft
1 Bigha (Assam) is 5 Katthas (Assam)
1 Kattha (Bengal)
720 sqft
1 Bigha (Bengal) has 20 Kathas
1 Kattha (Bihar)
1361.25 sqft
1 Bigha (Bihar) has 20 Kathas
1 Kattha (MP)
600 sqft
1 Bigha (MP) has 20 Kathas
1 Killa
4840 sqyd
An Acre is also known as Killa in some parts of Haryana and Punjab
1 Kranta
72 sqft
1 Acre is equal to 605 Krantas. Unit used in Tripura
1 Kuncham
484 sqyd
1 Kuncham is equal to 10 cents. Unit used in Andhra Pradesh
1 Lecha
144 sqft
20 Lechas is 1 Kattha (Assam)
1 Marla
272.25 sqft
20 marlas is 1 kanal. Unit used in Haryana, Punjab, Himachal Pradesh and Jammu & Kashmir
1 Murabba
25acres
1 Murabba is 25 acres. Unit sometimes used in Punjabm Haryana and Himachal Pradesh
1 Nalli
240sq yd
1 Nalli is 240 sqyd. Unit used in Uttarakhand
1 Perch
272.25 sqft
1 Square Perch is equal to a square rod, 30.25 sqyds or 1/160th acre
1 Rood
10890 sqft
1 Rood is 1/4 of an acre. 40 square perches is equal to 1 Rood
1 Sarsahi (Square Karam)
30.25 sqft
Measured as 1 karam X 1 karam (66in X 66in). 1 Marla has 9 Sarsahies. Unit sometimes used in Punjab, Haryana and Himachal Pradesh
1 Shatak
435.6 sqft
1 Acre has 100 Shataks
1 Square Centimeters
0.00107639 sqft
1 Square Metres is 10000 Square Centimetres
1 Square Feet
144 sq in
1 feet is 12 inches
1 Square Inch
0.0069444 sqft
1 feet is 12 inches
1 Square Kilometer
247.1 acres
Standard International Unit of area to measure land. 1 Sq km is 0.3861 Sq Miles, 100 Hectares, 247.1 Acres or 1000000 Sq Mtr
1 Square Meter
10.76391042 sqft
Standard International Unit of area to measure land. 1 Sq Mtr is
1 Square Mile
640 acres
1 Sq Mile is 2.59 Sqkm, 259 Hectares or 640 Acres
1 Square Yard
9sqft.
1 sq yd is 9 sq ft, measured as 3 ft X 3 ft. Also known as “Gaj” in India

Length Conversion Table
Length Unit
Length Conversion Factor
1 Centimeter (cm)
=
10 mm, 0.01 m
1 Chain (ch)
=
66 ft, 22 yd (gaj), 100 links (kadi), 4 rods
1 Feet (ft)
=
12 inches, 30.48 cm
1 Furlong
=
660 ft, 220 yd, 40 rods, 10 chains
1 Gaj
=
1 yd, 0.91444 m, 3 ft, 36 in
1 Gattha
=
5.5 hath, 2.75 yd, 8.25 ft, 99 in
1 Hath
=
0.5 yd, 18 in, 1.5 ft
1 Inch (in)
=
2.54 cm, 0.0833 ft
1 Jarib (Shahjahani)
=
165 ft
1 Jarib (Gantari)
=
132 ft
1 Karam
=
66 in, 5.5 ft
1 Kilometer (km)
=
1000m, 3280.84 ft
1 Meter (m)
=
100 cm, 39.3701 in, 3.28084 ft
1 Mile (mi)
=
1.60934 km, 5280 ft
1 Millimeter (mm)
=
0.1 cm, 0.001m
1 Perch/ Rod/Pole
=
16.5 sqft, 5.5 yd
1 Yard (yd)
=
1 Gaj, 3 ft, 36 in, 0.91444 m






























































Sunday, October 30, 2016

Current Scenario of Real Estate in India

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Weak sales, high inventory, trapped investor and weak sentiment kept India’s Real Estate markets on downtrend in 2015. Same continued in 2016, with not much sign of recovery. Return of investor is eagerly awaited for markets to revive and stabilize.

This slowdown has further weakened sentiment, as increasing number of defaulting developers have made even general customer skeptical. They are shy of investing in property especially in new projects. It is a wait and watch game now.

PM’s ‘Housing For All’ by Year 2022 has seen some activity in Affordable Housing segment, with a number of new projects being launched in various cities across India. A 600 units project by Vivek Oberoi, Bollywood Actor in Mumbai was in news recently.

Activities of PE Players & Fund Houses

Several private equity (PE) funds are either planning or have already raised almost $4 billion from overseas investors to invest in Real Estate in 2016. With project cash flows weak and banks not easily extending debt to Realty Sector, developers are depending on PE funds or private funding for their requirements.


A slow and gradual recovery

With majority of developers, having learnt from their mistakes, are focusing on project execution and delivery. Year 2016 has seen the sector moving from an investor-driven to an end-user driven market. Prices will not see much rise and may stabilize at current rates.



REITs: A Hope for Revival

REITs are professionally managed, publicly traded companies that manage their businesses with the goal of maximizing shareholder value. That means positioning their properties to attract tenants and earn rental income, managing their property portfolios and buying and  selling of assets to build value throughout long-term real estate cycles.

This drives total return performance for REIT investors, who benefit from a strong, reliable investment with annual dividend payouts and the potential for long-term capital appreciation. For example, REIT total return performance over the past twenty years has outpaced the performance of the S&P 500 Index and other major indices – as well as the rate of inflation.

REITs offer a hope for revival of Realty market. As can be seen above these are comparatively low risk, have high liquidity and one can invest in Real Estate market with amounts as low as a few thousand rupees.  Even government is very aggressively promoting REITs. Recently it was in news that Blackstone has applied to SEBI for listing of 1st REIT with an investment outlay of approximately INR 6000 Crore.

Commercial Sector

Commercial office sector, which was a saving grace during the slowdown, is expected to further shine in coming months. Vacancy levels have fallen and large firms, many in the e-commerce space, are taking up new space at a brisk pace. Buyouts of ready to move commercial space is on, and private equity funds are now even looking at investing in under-construction properties. Realty firms with office development portfolios are not only focusing on growing their business, but in some cases are also shifting focus from residential to rent-yielding office projects.


REITs will give further boost to this sector.

Friday, October 28, 2016

Under Construction Property Transaction: Important Documents & Steps


While dealing in an under construction property of a Group Housing Project, whether as a Company Sales Person, Channel Partner or even as a Developer certain Steps & Documents are very important for a smooth process.

We are listing here-under a few of these for your knowledge purpose:

Booking Documents

Along with booking amount you must take following documents so as to complete the booking documents set:

-    Booking/Registration Form: along with booking terms & conditions completely filled & signed by client.

-    Price List: with the price at which he is purchasing circled & signed by client. If he is buying at a price other than which is printed, than that price should be handwritten on Price List circled & signed.
  
-  Payment Plan: A company may have different payment plans, so the one applicable to this deal should be attached along with & signed.
  
- Booking Amount: A Cheque towards the booking amount, which is generally 10% of total price, should be collected along with other documents.

Once this is done you are through with the booking process and move on to the next steps of the process. Here one thing very important to mention is that every payment received from customer should be by adding 4% Service Tax. This has to be religiously deposited to government at the end of month. 

Booking Receipt
When we receive booking amount make a Booking Receipt. In this Client is generally given a Unique Code in company’s system and under that code Client’s file is started.

A receipt should be issued to client for the Booking Amount received and that receipt contains information like Client’s Name, His Father & Mother’s Names, His Contact Address, His Permanent Address, Details of Nominee like Name; Relation; preferably Nominee’s Signatures etc., Details of Payment Received: Cheque/DD No. (If Cheque/DD) or Cash; Date, Amount, Unit Number (Here he is temporarily allotted a Unit Number also).

Allotment Installment
The 2nd installment is called the “Allotment Installment”. Here again a routine receipt for payment received in issued.

But what is more important is that, at this stage Buyer-Builder Agreement is signed between client & developer. Two completely filled copies of the same should be given to client for signing. Client signs both the copies attach his KYC documents with it and return it back to company.

Than Authorized person of company signs both the sets, after which one copy goes to Client & other to his file.   

P.S.: Each & Every paper entering client file should preferably be signed by Client

Due Payment Intimation
Whenever a customer’s payment becomes due as per the Payment Plan opted by him, compliance officer may be with the assistance of his team, sends him an intimation.

After the intimation has been sent by compliance officer, you should follow with client as well concerned channel partner to get the payment within due time.

Cancellation of Booking

If the payment doesn’t come even after the passage of 90 Days (Again varies from company to company) than a cancellation letter should be sent to customer through Registered/Speed Post only. Under no circumstance should this be sent through Courier or ordinary post.

You should also intimate this to client as well concerned channel partner.

Transfer Cases

Many a time’s clients will like to transfer their property in someone else’s name. For that you should have a properly worded & vetted by a Lawyer Transfer document. This Transfer Set on a Stamp Paper of Rs. 100 should be filled & signed by both Transferor & Transferee. Both will attach their KYC documents along with & get it notarized. On submission of this Transferor will have no rights over this property.

Cancellation
During the process many persons will like to get the unit cancelled also due to some reason or the other. For this also you should have a properly worded & vetted by an advocate cancellation set. Any person willing to cancel a unit will fill it on a stamp paper of Rs. 100. Than after submission of the same you should release him the payment as per company’s policy.


Cancellation will be complete once that person has refund amount in his account after which he will have no right over the said property.

Thursday, October 20, 2016

Annoyed Clients: How to Handle Them





















Give a Feeling that you care for them


Listen to what your client has to say. Understand his problem, if any, and try to offer a quick resolution. Stay professional but show that the client is not just another number for you. Listen to their suggestions & feed-backs with care. Give a feeling that these are important to you.

Just for numbers sake, a study suggests that, for an organization, a completely satisfied client generates 14 times more revenue than a dissatisfied one.


Don’t give template answers
Always have a one-to-one approach for every client. Generic copy-paste emails won’t serve. In your conversation your voice tone & emotions need to match to your client's problem and solution you are providing. Don't crack jokes when they're upset.

When dealing with a client issue, though you should always stick to company's guidelines, but don't make the mistake of repeating the same answer every client. Give your client a personalized approach and try to put yourself in your client's shoes before you answer. 

Research suggests that more than 55% of your clients will be willing to pay more for better service. And better means more individualized and personalized attention. 

Let’s say you the solution your client looking for is very expensive or out of your reach. Instead, try and explore other possibilities. Try to find if you can provide an economical and within your reach solution. Or see a different route to resolve issue. Don’t hide yourself behind excuses or run away from client.

Avoid lengthy discussions or arguments


Try to focus on facts and don't drag yourself in arguments on who's right and what's right. Proving your point will not get you any extra client respect. Your clients – even those most upset – expect to be listened and encouraged that their issue will be taken care of and resolved.

A study says that generally, 42% of sales persons are unable to resolve customer issues effectively due to numerous reasons.Client-Seller relation is the base for long-term mutually beneficial association.

Offer a fast and effective solution


Unhappy clients will keep contacting you until you resolve their problem. It's important for you to offer quick and effective solution so that you stay in charge. At the same time, you need to be realistic and not over-promise. Like say, most of times, you will not be able to offer undue discounts or immediately return money to every client. So offer a solution which is possible, otherwise you will end up annoying customer even more.

A research indicates that 33% of clients would recommend a brand that provides a quick response, even if that response didn’t solve their issue. This speaks volumes about the need of time-efficient response to your client’s needs.

As long as you stick to the facts, you will gain clients' gratitude for responsibly handling their issues. Be honest with your client about the options for their problem.

Don't let the issue escalate
Finding a solution may take some discussions or consultations with your team or seniors. But don’t let these delay resolution of problem. In the world we live today, clients count on fast resolution. If they don't get it, they'll go on Facebook, Twitter and/or all other possible platforms to voice their frustration. Don't ignore any complaint; deliver what you promised and don't let the issue escalate to the point where it causes your company a loss of reputation.

Nowadays, your client is twice more likely to post a negative review than a positive one, and they are four times more likely to switch to the competition if they are dissatisfied with your service.

Communication on internal channels is your friend, but don’t be afraid to offer an apology if your client has been hurt by the issue. Your client relationship is a two-way communication.

Train your staff so they can do their job right

This one is well-meant advice for those of you who depend on employees more than self in client relationship. Client service personnel should always be out there in the battlefield, talking to unhappy clients and trying to put out fires. Make sure they have all the support they need.

Share with them the company's values and guidelines so that they are never surprised by a question from any client. Collect feedback from clients and try to improve your products and services as much as possible. Show your staff what is doable and what is not when handling complaints. Invest in brainstorming and training sessions for your team so that they can provide top quality service. Don't be shy to include new market solutions that will save them time and effort.

Minimize negative reviews

This 2013 study suggests that 86% of clients are influenced by negative online reviews of a product or service. Considering the fact that it takes 12 positive client experiences to make up for one bad one, you really shouldn't take negative reviews lightly.


Negative online reviews can be very costly for your business. Show your clients you are ready to listen to their complaints before they go and rage about your service on social media. Resolve their problem fast and effectively. Your clients will reward you by staying with you — instead of choosing a rival service provider.

Saturday, October 15, 2016

Know Real Estate: Traditional yet Successful Marketing Strategies fo...

Know Real Estate: Traditional yet Successful Marketing Strategies fo...: In the last few years online marketing has taken precedence over traditional marketing strategies for companies in the last few years. Rea...

Traditional yet Successful Marketing Strategies for Real Estate

In the last few years online marketing has taken precedence over traditional marketing strategies for companies in the last few years. Reason, It can be easily measured and is often less expensive.

But that doesn’t mean traditional marketing strategies are no more effective. In fact, for a truly effective marketing & branding strategy, make use of both techniques to create a well-directed, multi-faceted approach.

When done together these complement each other. Let’s look at some of the effective traditional marketing strategies and learn how to integrate them in your marketing campaign.

Networking


One-to-one interactions are still valuable for of networking and can help drive traffic to your website when your new connects get inspired to learn more about you and your firm.

Being able to put a face to the name can help create a deeper sense of brand loyalty amongst your buyers. So don’t discount the importance of a good handshake.

Create opportunities for in-person networking by joining local chapters of associations or organizations where your target audience is likely to be found.  Over time, this networking can be augmented with attendance at national.

Public Speaking

Public Speaking is a very effective marketing tool. First and foremost, speaking puts you in front of targeted audience and with effective speaking you can have their attention and create your identity.

Speaking to your target audience is a very powerful way to build credibility and establish leadership in your industry for self as well company. According to a survey on Industry Leaders, speaking is the second most popular way to obtain leads & establish credibility.

However, finding an appropriate speaking opportunity may be a challenge if you’re a beginner. Try starting with local associations. This experience will pay off in long run.

Print Publications

Print publications still have a valuable place in offline marketing. Publish your articles or comments in industry magazines, journals and probably newspapers. This will help increase your brand visibility and showcase your expertise. Develop the habit of writing blogs.

However, you need to be selective. Make sure the publications you choose are relevant to your target audience and a reputed source of information.

Cold Calls





Similarly, cold calls have the personal touch that often resonates with interested buyers. Phone calls are more personal than emails and generate an instant response – which can be both, good and bad. Just make sure you have a concrete reason for calling and be mindful of your call recipient’s time.

Advertisement in Print Media

Along the same lines as publishing an article in a print publication, running print advertisements is another method for out to potential customers.

However, it is significantly more difficult to track the return on investment for print advertising than for online ads and they can often be more expensive to run, so use this carefully and with proper planning.

Print advertisements are best positioned in highly targeted publications where you can be assured of that your target audience will see your advertisement. Include your website address in the print advertisements. This will help you track these campaigns better.

Associations and Trade Shows



Consider attending trade shows where you can network with other industry leaders and prospective buyers. Trade shows can provide a great opportunity to put the most effective offline marketing strategies in practice. In addition to in-person networking, you can also pass out print materials and perhaps even get the opportunity to be a featured speaker.

Luckily, there’s no need to choose between offline and online marketing strategies. Offline marketing strategies don’t need to replace online marketing strategies or vice versa.

Instead, offline techniques can be used to supplement online marketing efforts to make your firm’s marketing strategy more robust. The combination of both approaches can bring your marketing full circle by increasing your firm’s visibility and bringing more attention to your online brand.

Bulk Text & WhatsApp Messages Campaign






Sending text or WhatsApp messages to your target audience is another economical, yet very effective way of reaching out to your customers. With the increasing popularity of WhatsApp, it is a very effective media for Marketing & Branding as you can send well written & designed messages.  There are agencies in market which undertake job on your behalf and send SMSs to the segment/city you want to send to.

Hoardings

Hoardings of your Brand / Company/ Project name are another effective way of creating visibility. When putting up a Hoarding care should be taken that the location is prominent and that area is frequented by your target customers. A hoarding on a Highway is the best option.