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How is the present real estate market in Bengal and Pan India , what do you foresee for 2018-19?

The real estate sector in Kolkata has shown an approximate growth of 11% annually based on unconfirmed statistics. So the years 2018-19 is expected to a period of consolidation in the real estate sector directly absorbing the impact of all policy decisions take during 2016-17. There has also been the growth of numerous townships like in Garia-Patuli township, Behala and Maheshtala, Budge Budge, Alipore and of course Rajarhat, Action Area, New Town. These provide affordable rent and reasonably priced property compared to property prices in other Tier-1 cities. More and more joint ventures and individual projects will be the order of the day with financially distressed developers being taken by large players and the presenting the industry with a fresh line of competitors. Completion of existing projects will be prioritized over the new launches. The number of new launches were also limited.
  
What are the precautions a buyer must take before purchasing a home?

Clear title to a property is one of the most important factors to be considered before purchase. There are various means to investigate the title such as: the documents of title to ensure that the owner has proper ownership to the property. The documents of title should be studied very carefully as any shortfall may lead to a defective title, taking inspection of the original title deeds, taking search of the land records and the records of the Sub-Registrar, search of the records of the society where the property is in a society, issuing public notice in newspapers calling for claims in respect of the property. Sanctioned plans and commencement certificate by the concerned authority should be inspected, especially for buildings under construction. For buildings that are complete, occupation certificate/completion certificate should be verified. Power of Attorney. Many a times property is sold through a person holding power of attorney (POA) on behalf of the owner. This POA should be closely scrutinised to ensure that it is properly executed. This aspect should also be considered. For example, if the land is leasehold and the residue tenure of lease is short and if there is no provision for renewal on old rent, additional ground rent may be payable by the purchaser on renewal of the lease. It is also possible that there may be no renewal clause at all. Although no-objection of a society is not required for sale as per the new model bye-laws, it is preferable to obtain such a no objection as well as a no dues letter from the society if the premises are in a society. In case the building is not conveyed to the society by the builder, then no objection of the builder should be obtained. It should be verified that the seller has paid all his dues such as property tax, service-tax, VAT and other outgoings to the society or the builder, as the case may be. A customer should not go by sample flats only. Clear calculation of built up area and carpet area should be done, new projects must be approved by Nationalised Bank for home loan and clause for late possession must be incorporated in the agreement. 
 
Does real estate industry provide good after sales service in India?

I can speak about my Ascon Infrasturcture India Ltd, it is a 100% complaint free company and we have raised our bar so high in terms of after sales service that I am sure other companies too are following the same path otherwise in today’s consumer driven society it shall be next to impossible to  the business going. S reputations are built on such good after sales service. But also the scope of such after sales service has also to be well defined and developers of repute and good standing adhere to their commitment of quality and service.
 

How has RERA impacted real estate business.what are it's benefits and problems?

2016 was a watershed year for Real Estate industry in India when it had to suddenly face the implications of RERA, demonitazation and GST, it was like the Trishul or trident which hit all of us from nowhere. RERA aimed to regulate the otherwise unregulated sector and forcing greater transparency and process driven. It is aimed at making it more disciplined and check the project delays and unfulfilled promises of unscrupulous developers. The positive impact of RERA would show in timely delivery of projects, DLP for 5 years instead of generally 12 months, customers shall also not hesitate to invest in projects registered with RERA. The most positive aspect of this Act is that it provides a unified legal regime for the purchase of flats; apartments, etc., and seeks to standardise the practice across the country. Below are certain key highlights of the Act: Establishment of the regulatory authority, Compulsory registration, Reserve account: One of the primary reasons for delay of projects was that funds collected from one project, would invariably be diverted to fund new, different projects. To prevent such a diversion, promoters are now required to park 70% of all project receivables into a separate reserve account, continual disclosures by promoters, Title representation:- Promoters are now required to make a positive warranty on his right title and interest on the land, which can be used later against him by the home buyer, should any title defect be discovered, standardisation of sale agreement, penalty

 Are Indian banks and private financial institutions helpful to buyers and where they should go for any grievance against pvt financial institutions?

Generally Indian Nationalised banks and Private Financial Intuitions are good and helpful to the consumers and purchasers, provided documentation are correctly submitted. Of course stray complaints do arise and all such grievances may be referred to the Consumer Forum and RERA.