Simply Money

A welcome notification for all Developers. Maharera has finally recognized that a project may be registered by Developers but for reasons like litigation, lack of funds, projects no more being economically viable, family disputes, change in planning and the like lead to the Projects not being floated or the same being stalled. The Promoters were being forced to do compliance of projects once registered even if the projects were no more effective and in force. Projects were listed in Lapsed Projects and various media houses named even good promoters as BLACK LISTED PROMOTERS even when the ground reality was otherwise by mere appearance in Lapsed Projects List. DE-REGISTRATION OF REAL ESTATE PROJECTS- Order 42 dated 10-02-23 ZERO ALLOTTEES- One of the most important conditions laid down under in the circular is that the projects should not have any bookings and should have Zero Allottees. This would mean that Promoters need to enter cancellation deeds, ensure all refunds are given and h...

The year 2022 is now almost behind us. Yes, it made RERA more complicated. Who would have imagined a mandatory allotment letter and cancellation provision – Order 35 - resonating across the Real Estate Sector and a devoted Registration Regime for New Registration, which we are yet to accept smilingly. The RERA litigation has been in the limelight. While the RERA community was busy grappling with the mind-numbing Registration Process Changes, the RERA Tribunal had commenced cracking down on errant developers and Maharera publishing list of lapsed projects. The year 2022 has left an indelible mark on the RERA jurisprudence by its verdicts for Real Estate entities engaged in non-aligned real estate activities. The future years will be a testimony to the all-pervasive impact of these judgments and detailed circulars that were passed in the year 2022. We can rest assured that the year 2023 will give us more challenging and intriguing times given the overwhelming legacy of 2022 and prior...

 In 2018, a strange news became headlines. A parking space was sold for 5.6 Crores in Hong Kong. Sounds outrageous but its true. Buying a home or office now comes with added pressure to have your own appropriate parking in the project. No matter what the size of the unit, every home owner desires to park his car conveniently, preferably in a covered location. Understanding the regulation around parking is very essential to make the right purchase decision. This blog today is dedicated to understanding the regulation around parking and how can you make an informed decision as a buyer. Lets start by classifying the parking in three major categories:- 1) Parking that can be Sold by Developers:- As per the latest Circular 36/2021 by Maharera a developer is allowed to sell a covered car parking spaces and garages. Covered car parking space or garages are simply areas which can house cars in a space that is covered by three sides and a roof.  An important fact to note is that multi...

The thought of losing your life is macabre enough but pause a second and imagine this.  You have left for heavenly abode after Covid, or rash driving or just eating too many pastries from Theobroma. Now before you died , you thought you were invincible and would have preferred dying at 75 years. But boom,  destiny had other plans.  Now there are two ways this could have panned out, one way where you did estate planning and your family had to grieve only for a few days. The other way is to put them through thick and thin where they have beg to bank officials for releasing even basic funds from your bank accounts as you were too cool to add a nominee. The best thing you can plan for is to have a plan after you are gone. Most of us take this portion of financial planning very casually and would not even want to approach it systematically.  Today's article is written to help you understand that just like change "Death is the only Constant in Life". Everyone will recommen...

Just when you think the world could not get murkier I have noticed a new trend in Tech Companies. They have cracked the code which casinos have been deploying sinces ages. They have created sources to give you tiny dopamine shots which lead you to go back to these apps again and again. Don't believe me? Try this, if you are a cred member you have been getting these push notifications already. They have created a slot machine type reward system. You burn cred coins to win more cred coins but in the long run you loose all the coins. Further your chances of winning are next to impossible inturn they lure you into thinking you have won 40%-50%-70% discount on the products and can use it to purchase the advertised product. Same thing happens when you use google pay, rewards are dolled out early to making you think that the more you pay the more you can earn and eventually you get trapped into the deady cycle of Reward Hunting. The tech companies are no less vicious than a casino which t...

 Last few weeks I have been flooded with calls of friends, collegues and clients alike. All of them have just one question on their minds. Should I invest in Cryptocurrency? Should I book my losses/profits? Will Bitcoin further rise? To answer this decisively, lets understand the environment we are in. Every social media influencer I know, from Tanmay Bhat to the miss teeny weeny,all of them have either been sponsored by a crypto market service provider or are just willingly entering this fad to discuss Cryptocurrency. They go out of their way to explain how this works? For educational purposes we do learn about block chain and cryptocurrency out of this free content. However they fail to answer the question , WHY IS THE VALUE RISING? WHAT HAS CHANGED THAT LEADS FOR THE WORTH OF SOMETHING TO JUMP FROM $ 7000 USD TO $ 50,000 USD IN UNDER A YEAR? The answer can be found from the countless times, we, the retail investors have been cheated out of our hard earned money. There are tips i...

Before we delve into answering this question, let me start with an anecdote. There was a farmer who once started digging his farm, after digging just 10 mtrs in his farm he found oil. Every scientist and geologist who read this said "This is impossible, oil cannot be found at such shallow depths". But there it was, dark gold poring in slowly after the first hole was dug by the farmer. The farmer then floated a company, people valued his company at a billion dollars as the company now owned 100 acres of shallow oil pits. The farmer set up a team and they set up operations, once commercial operations started it was found they had only found a underground oil reserve of US army from World War II. As predicted, there was no oil reserve and there was no dark gold to be made in this ordinary farm. Have you heard of the Gamestop and Amc fiasco? A group of reddit users drove the price of Gamestop, a company soon to be out of business, from USD $39.91 to a high of USD $ 347.51 within ...