Burzin DaverBurzin Daver is no newcomer to the Indian aviation service industry. He has led from the front, be it him leading one of the first companies to offer ground handling services to domestic Indian airlines. Continuing its stride, he has now declared that LAT is all set to launch a state-of-the-art Aircraft maintenance center in Mumbai, India’s financial capital. Announcing the same, Mr. Burzin Daver, the company CEO, commented and briefed everyone on how the LAT facility will play a significant role in helping save costs for domestic airlines.

Mr. Daver was the proud recipient of the Youngest CEO award in 2002, an accolade that speaks volumes about the man’s consistent efforts to equip his company to meet the changing demands and needs of the aviation industry.

LAT’s commitment to AIR INDIA

Focusing completely on LAT, Mr. Burzin Daver proudly announced that this facility would feature world-class equipment, technology, processes, and systems to fulfill most domestic airlines’ requirements. The company had already signed an agreement with India’s government-controlled premier airlines AIR INDIA. Providing further information about the agreement, Mr. Daver mentioned that the new facility would offer refurbishment of the wide-body aircraft parts of the airline on an end-to-end basis. The agreement speaks of an exclusive cabin upgrade program where Burzin’s team will be extensively responsible for ensuring maintenance and overhaul of cabin parts of AIR INDIA’s fleet. Additionally, the program will regularly include cut and edge services of the aircraft carpets to keep the aircraft interiors look fresh and contemporary.

More about LAT

Mr. Burzin Daver also informed the gathered audience that the indigenously-built LAT has the capacity to refurbish and repair about 10,000 cabin parts each month. The company has already spoken and contracted with many other airliners in the country. One key reason domestic airlines contract with LAT is that it will help them save phenomenally on their maintenance and repair costs annually. Most of the airlines today have their aircrafts repaired overseas because of the lack of commendable maintenance units within India.

What is special about LAT?

The facility has been designed as one-of-its-kind in the aviation service industry. A team of industry experts has been consulted, and the technicians and engineers employed to do the job are all experts with crucial background experience. The facility that is all set to open any time is headed by specialists from the aviation sector with enough international exposure. Another special feature is that the LAT will operate on a 24×7 basis so that the company can meet its target repairs comfortably. The DGCA-approved facility will repair and restore cabin parts for airlines, including seats and seat covers, tray tables, carpets, fairings, shrouds, etc. The facility has CAR 145 approvals and has an automated spray paint boot equipment setup for seamless paintwork at the end of a refurbishment task.

The Indian Air Force (IAF) started the celebrations for its 89th raising day, when the force was founded. The celebrations are taking place at the Hindon Air Force Station in Ghaziabad, Uttar Pradesh.

Three paratroopers were seen flying down from the sky with the Indian Tricolor and the IAF flag. This was a recreation of the Tangail airdrop operation, which took place during the 1971 war. Three paratroopers, including one from the Army, jumped from a vintage Dakota transport plane in a re-enactment of the famous operation.

Air Force Chief Marshal VR Chaudhari inspected the parade on the airbase’s 89th anniversary. On the occasion, he also presented the Vayu Sena Medal (Gallantry) to officers. General Bipin Rawat, Chief of Defence Staff (CDS), Admiral Karambir Singh, and Chief of Army Staff General MM Naravane also attended the 89th Air Force Day parade at Hindon airbase.

The IAF was founded on October 8, 1932, as a support force for the Royal Air Force of the United Kingdom. When India became a republic in 1950, the prefix Royal was dropped, and the force was renamed the Royal Indian Air Force. The Indian Air Force (IAF) is the country’s air force and the world’s fourth largest. It is led by an Air Chief Marshal (ACM), and the Commander-in-Chief of the armed forces is the President of India.

President Ram Nath Kovind wished the IAF warriors and other officials on the force’s raising day. “Greetings to air warriors, veterans & their families on Air Force Day. Nation is proud of the Indian Air Force which has proved its competency & capability time & again during peace & war. I’m sure IAF will continue to maintain its cherished standards of excellence,” he said on Twitter.

The 2021 IAF Day parade will honour the heroes of the 1971 war, which saw India defeat Pakistan and result in the birth of Bangladesh. Rafale, Tejas, Jaguar, MiG-29, and Mirage 2000 are also part of the celebration, and will fly together over the march past. The Meghna formation will also be performed by Mi-17 and Chinook helicopters.

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A court on Thursday sent Aryan Khan and seven others in Judicial custody in connection with a cruise ship drug case filed by the Narcotics Control Bureau (NCB).

The bail applications will be heard on Friday. Aryan Khan, Munmun Dhamecha, and Arbaaz Merchant were arrested by the NCB on October 3 while the other 5 were arrested on the very next day. Aryan Khan along with others were brought before Additional Chief Metropolitan Magistrate R M Nerlikar at the end of their earliest remand. Satish Maneshinde, Aryan Khan’s lawyer, submitted a bail plea on the behalf of the actor. On the other hand NCB sought custody of the accused till October 11. 

The court rejected the NCB’s plea saying that “No progress is shown, no recovery is effected and whatever is alleged is seized.” “Simply remanding the accused to NCB custody without reason is cogent ground for violating liberty,” Chief Metropolitan Magistrate RM Nerlikar said.

During the court hearing, Additional general Anil Singh fought the case on behalf of NCB against all the seven accused in the drug case. Amid the last hearing Anil Singh has come up in the support of NCB for the only three of the accused. While giving his arguments the ASG pleaded for NCB custody for all the accused who are hiding a wider conspiracy. According to the statements given by Aryan Khan, Archit Khan was taken into consideration and is shown as 17th and a critical arrest in the case. 

“All these people are connected in the same thread. Conspiracy and abetment. They can’t be isolated. Total 17 people have been arrested now. Further NCB custody is required due to subsequent developments. NCB has arrested Archit Kumar with contraband. He has been named by Aryan. Confrontation with accused essential for further investigation. After the orders passed on 4th October, there has been further development. We have intercepted the organizer, supplier, other persons as well to establish the racket in narcotics and psychotropic substances,” the NCB said.

“How he had gone there, how he was invited, and whom he had met — for that purpose, am showing this statement. For the purpose of remand, this statement can be taken into consideration. It is on the basis of this statement, and on the basis of subsequent statements, Archit Kumar was arrested,” the ASG argued.

The defence, however, argued that the custody of the accused was not necessary to investigate the matter further. “The law is, everyday, custody must be explained. Nothing has come ahead. They arrested one person yesterday. At least then, they should have confronted him. We were already in their custody. At least make an attempt to put me face to face. NCB is capable, has 100 officers,” argued Aryan’s lawyer Satish Maneshinde.

Reiterating that Aryan was at the party as a VVIP, Maneshinde said on his behalf, “I have a friend called Pratik, who had informed me that I might be invited as a special VVIP as the ship’s crew, not as an organiser. Pratik spoke to (organiser of the party) Aamir Furniturewala, who had requested Pratik to invite me, only with the intention to add colour to the party.”

“There were 1,000 people on the ship. They have arrested only 17. It isn’t that the entire cruise was full of people connected to the organisation. I was called to provide glamour to the troupe. I had no connection with Aamir Furniturewala or any other organiser,” he added.

Satish Maneshinde says there is no fresh evidence in the court. And the chats that they have recovered are of  football and football does not count in drugs, says satish Maneshinde supporting his client.

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BJP, on Thursday, released the list of the new National Executive Committee with 80 members. Few prominent leaders didn’t make it to the list, among them were Maneka and Varun Gandhi. Also senior BJP leader, Subramanian Swamy couldn’t find mention in the new list.

The Bharatiya Janata Party (BJP) on Thursday, released a fresh list of new Executive Committee with 80 members. The list raised several eyebrows as several prominent leaders were dropped from the list as well as some new faces also made it to the list. Among the leaders who were dropped from the list were Varun Gandhi (MP from Philibhit), his mother Maneka Gandhi (MP from Sultanpur), Subramanian Swamy (MP, Rajya Sabha), and Chaudhary Birendra Singh (Former Union Minister). The list also saw fresh new faces that will now be a part of the crucial committee. Jyotiraditya Scindia and Ashwini Vaishnaw are such new faces that made it to the list. 

Apart from the regular 80 members, the executive committee will also have 50 special invitees and 179 permanent invitees. Incidentally, 37 of the 80 members are the union ministers and a number of ministers from the state are part of the committee and this leaves less space for the ordinary members of the saffron party to become part of the deliberative mechanism of the Bharatiya Janata Party (BJP). 

Rumors are rife that the expulsion of Varun Gandhi comes after he has been regularly targeting his own party in regards to the three farm laws. The Lok Sabha MP from Philibhit, recently, was also critical of the Uttar Pradesh government in dealing with the Lakhimpur Kheri violence and death case. He has been urging the UP Chief Minister to take cognizance of the matter and to do justice to the ones who lost their lives in the incident. Subramanian Swamy was also removed from the list and the reason is said to be his failure of following the party’s line on several occasions.

This is the first rejig of the committee by the BJP President JP Nadda since he took office in January 2020. The National Executive Council meeting is scheduled to take place on November 7 in New Delhi. Apart from Prime Minister Narendra Modi, Union Home Minister Amit Shah, Defence Minister Rajnath Singh and other senior leaders, LK Advani and Murli Manohar Joshi will also be a part of the committee. 

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Writing is considered to be a vehicle for the transmission of the idea that the author wishes to convey. That idea or theory or research is the reason for writing the book.

Whether you’re looking for great books to add to your reading list or share with others, it is significant to analyse which book is so far the best to read that should be chewed and digested thoroughly.

To provide with the most engrossing story that will keep the readers captivated till the end, Ruster Keaton has recently published his 6th title named Covid Kights, under First Step Publishing. Based on real-life encounters and stories, the book portrays the world’s most dangerous criminals and recounts their encounters. The documentary unfolds these events, meticulously capturing every detail of what he saw at the time.

A well-established author and also a financial market expert, Ruster got inspired with the idea of informing the readers with real-life stories that could help them in channeling their knowledge and getting entertained at the same time. The book does not predict the future; rather, it describes the chronicle of events that occurred at a specific moment in time in the future, in a specific year. Commander Rulik is a modest man who has recently retired and wishes to get wealthy soon. He hires a gang of violent professional killers, including The Cossack Baker, in his innocence. Rulik took a bold approach, but one he thought had a better chance of succeeding than The Bookseller during the Covid 19 days. It’s a story about both strength and despair, as well as moral and immoral characters. It’s a Russian storey about courage in the face of adversity and brutality.

The book, Covid Knights, provides a unique look into the criminal minds of the Royal Russian Federation in the twenty-first century. With the intensity of a predator thriller, surprising developments explode from the pages at the reader.

Hailing from Bandra West, Mumbai, Ruster has mastered the field of finance, law and internal audit. Adding more to his knowledge, he has also studied quality circles, ventilation engineering and value engineering. Being a financial advisor he has worked in financial projects in over 27 cities in India, also in Armenia, UK, Australia, the USA, Kuwait, Iraq, Iran, Saudi Arabia, Bahrain and Kenya.

Apart from his novel, he has worked with top professional firms such as Ernst & Young and KPMG. In his early thirties, he was Ernst & Young’s first director in India in 1997. Having an interest in sports, Ruster is a registered FIDE chess player and In 2015, also took part in the  FIDE World Seniors Championship at Aqui Terme, Italy.

One of the most influential writers and authors, Ruster Keaton is without a doubt an author par excellence. His life is a colourful adventure and his writings are significant feats of language and a combination of skills and creativity.  You can purchase the book globally from Amazon.

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The NGO’s team of 150 volunteers has worked around the clock to procure and provide oxygen cylinders to covid -19 patient across the country.

During the first wave of covid 19 last year, Odisha based NGO Sikh Aid, along with distributing at least 360 tons of cooked meals among migrant workers and labourers, also arranged oxygen cylinders.

During the second wave too they procured oxygen cylinder for those in need. But the difference is last year they received only 100 calls a month for oxygen and during the second wave they received around 2000 calls a day from all over India, says Raunak singh, founder of Sikh Aid.

During the second wave singh and his team members had barely slept eight hours in all.

Initially, the organization insisted on test results of patients to provide the cylinders, but during second wave when cases were more they checked the patients oxygen level.
“Most cases were genuine, but we needed to be doubly sure that the cylinders is going to those actually in need, ” Says Singh.

To meet the rising demand, the NGO, which has so far run on donations and provided cylinders free of cost to anyone who wants them, also started a “drive through”scheme for patients to go to their office and inhale oxygen.
This alone saved 500 lives.

Singh, who is businessman and founder of the organization, says that despite having the resources, procurement was still a difficult task. “It’s taking a lot of time, and time is of the essence. It’s criminal to lose a single minute but we are trying our best to save every life,” he says. “I see three to five deaths daily, I’ve myself got Covid-19 twice, but I will continue to do this even if it means losing my life. It’s just one against lakhs.”

Patients who have lived because of him and his NGO want to thank him for the efforts to keep them alive–by helping keep others alive. “Everyone tells me, now I have antibodies so I want to volunteer too. That makes us happy but we’re keeping our team small for maximum efficiency,” Singh says.

For more you can visit www.sikhaid.in

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Coal Town Boy, Dr, Abhinav Kumar Shrivastava is the “MasterKey” Developer for Cyber Security of India, and Selfless Protectionist of “Innocent and Womanhood”.

With the growing pace of cyber technology, Cyber Crime has also risen drastically. While we are going to welcome 5G, the unforeseen demon of cyber threat is ready to attack us all around. Dr. Abhinav Kumar Shrivastava has developed a “Master Key” to effectively handle and solve the majority of cybercrimes. Dr. Abhinav’s Research Article titled “Cyber Security in Modern Era” has been accepted at the “International Management Conference on Post Covid Management Strategies: Recovery, Resilience and Adaptation” held at IIM Gaya. The article was widely appreciated and has brought a revolutionary positive impact on Cyber Security in India.

Dr. Abhinav connected all the dots using the available legal resources and structured this comprehensive research article which is “Swift and User Friendly”. The article single-handedly hooked all forms of Cyberbullying, cyber blackmailing, digital currency fraud, and major forms of Cyber Crime in India.

Throwing lights on his research methodology, Dr. Shrivastava’s PRO replied “Our team strictly adheres to “oath of secrecy” subject to be verified by forensic and polygraph Test to maintain steel strong secrecy firewall referral to the ruling of Honorable Supreme Court of India in case the Selvi V/s State of Karnataka, Verdict instructed by Hon’ble Chief Justice of India, Justice K.J. BalaKrishnan dated 10-05-2010. These steps are taken to earn the confidence of the victim, so that she/he may not feel insecure.”

“Our Team is highly obliged to our Legal Advisor and Partner ‘G.GIRI & Company’ for assisting 24X7 to combat cybercrime, crime against women,” he further added.

Dr. Abhinav was born and brought up at the mining township of Jayant Colliery of Singrauli, Madhya Pradesh. Earned his Master’s degree from highly prestigious IIT(ISM) Dhanbad securing All India Rank-1 in Entrance Examination cracking one of the world’s toughest Examination CAT. He completed his Ph.D. in just 2 years and one month with more than 15 Research Papers and two International Diplomatic Academic Assignments to his research credit. He is classified as one of the finest brains among the younger generation of Academicians. He holds 7 Copyright and has penned more than 21 Impact Factor Journal and three books to his credit. His near ones share that he is immense hardworking, sharp and too shy, and introverted in nature.

Renu, a 47-year old mother, shared how Dr. Shrivastava helped her daughter fighting cybercrime, “My daughter was in deep depression and attempted suicide also, as she has been long blackmailed and sexually assaulted by her ex-boyfriend by her personal videos. Somehow I came to know about Dr. Shrivastava. We approached him and got a response within 12 hours. And in the next 3 days, the culprit was behind the bars as well as all personal videos of my daughter were officially deleted from the culprit’s mobile as well as other cloud storage. My daughter is blossoming again now.”

Ajith Subramanyam, a medical professional from Cochin, shared “I got a video call from an unknown number and as I am a doctor so I picked the call. The other side was blurring and after 10-15 seconds a vulgar fabricated video came to me and demanded 50k in two hours or being viral of fabricated video. I am not that tech-savvy. I turned helpless and rang my friends. Someone shared Dr. Abhinav’s number. I contacted him. Dr. Shrivastava not only shared the legal process but saved me and my honor in just two hours!! And the culprit was caught by ‘Cyber Cell’ within two days.”

Another person named Joseph shared his views, he says, “Being an elderly person it becomes difficult for me to keep updated with the evolving technology. One day I received a call for a KYC update. I shared the card details and my life savings of 35 lakhs vanished in 10 seconds. For the period of 2 years, I had to rush daily in order to revive my life savings. Somehow, I got connected with Dr.Abhinav who guided me to approach the Ombudsman of the Reserve Bank of India which further eased my path by helping me in drafting an application. After a legal battle of four months, I got my money back and later culprits were also caught and jailed. Without Dr. Abhinav, it was an impossible task for me to get my money back and win the cyber battle”.

As a matter of fact, Dr. Shrivastava has got more than 4000 registrations for Women who are facing Cyber blackmailing. Till 30 September, Dr. Abhinav helped 187 women set free from Cybercrime and blackmailing following the official legal channels, maintaining a high code of secrecy of these women. (Any person who needs help can mail at info@shubhaaksharam.com )

Dr. Jaswant Sokhi, retired Professor of IGNOU, who has been also the Chairman for Apex Committee against sexual harassment for world’s largest University in terms of Student Enrollment shared her view, saying “The novel Paper drafted by Dr. Abhinav is one of the finest concepts in most simple language which is served to masses and victims of cyber-crime and blackmailing. It focuses especially on women as it helps them to come out of traps and mental trauma making them stress-free. Thus, I can say Dr. Abhinav is a pioneer for modern Cyber Security in India”.

The well-reasoned paper drafted by Dr. Abhinav is one of the finest compositions in the simplest language which will serve to masses and victims of cyber-crime and blackmailing, especially women will definitely get complete relief to come out of the trap and mental trauma. In today’s world, very few people have the courage to fight selflessly and fearlessly to combat deep-rooted social problems such as the Cyber Mafia. And Dr. Shrivastava is one of those genius minds for the protection of humanity. His innovations will definitely be a game-changer for 5G technology in India.

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GI Outsourcing was started by a top UK account outsourcing firm in 1991 with an aim to effectively outsource their clients’ compliance work. Nearly two decades later, Vikas Chadha, Managing Director of GI Outsourcing shares their ambitions to become a top global account outsourcing company.

As the COVID-19 pandemic hit the globe last year, one area that has witnessed significant changes in finance and accounting outsourcing. Companies are now thriving for external help to overcome operational and financial challenges and outsourcing has proven to be a boon for a lot of companies during these tough times.

Vikas Chadha, MD, GI Outsourcing speaks to Daily Hunt on the challenges and recovery during times of post-Covid.

Question 1: Last year was a tough year? How has this year transformed the Finance & Account Outsourcing industry, especially talking about GI Accounting? How has the company been able to navigate through this crisis?

Truly speaking, last year has been a year full of challenges. However, everyone including the economy showed unprecedented resilience, which clearly indicates that when chips are down, we can collectively come together and do the right things. We soon understood that while the impact will be deep, the recovery from the pandemic has to be digital, hence we focussed on accelerating our organization’s digital capabilities in cloud and automation. This has also helped us redefine our operating model and get access to borderless talent and to innovate in real time with agility from anywhere.

Combining our digital prowess with GI’s unmatched holistic solutions, we could seamlessly partner and collaborate in a larger ecosystem to deliver exceptional value to our end customer.

Question 2: You took over the reins of the company when Covid hit the globe, how has your experience been so far?

I joined GI Outsourcing in August ,2020 in midst of covid uncertainty which had impacted the customer sentiment and believe me it has been a lifetime experience. Having been around for more than two decades and establishing our credibility, reputation, and goodwill, GI leveraged the extraordinary pace of growing business across several levels both organically and inorganically.

Having a customer-centric approach enabled us to foresee future requirements of our clients that help us innovate our offerings. Increasing the attractiveness of our offering and keeping our price fixed ensured excellent value to all our customers.

After briefly examining and understanding the customer’s unique needs, we ensured that our employees develop more agile and adaptive ways of working to meet the requirements. We created several pillars of growth including going deep in existing lines of business and leveraging our strengths on Quality and service with existing UK service business.  Concurrently, we added new lines of business including cloud accounting that proved to contribute significantly to GI’s global growth and revenue.  This unique approach has helped us immensely as 65% of our turnover is now based on referrals – a reflection of the high esteem within which we are held.

By strengthening our full portfolio of services and solutions to customers, we also increased our footprint and set up our delivery centers in leading talent hubs in India; New Delhi, the NCR region, and Ahmedabad.

While we were witnessing incremental growth, talent posed to be the elephant in the room.  We created a quality learning initiative ‘GI Academy’ which has tied up to get top-notch Chartered Accountants (CA) from the Institute of Chartered Accountants of India and ACCA’s from London.

Question 3: What are future company plans?

GI is looking at robust expansion plans and strengthening its footprint globally in various areas of finance and accounting. We are rapidly increasing our reach in India and aim to nurture and acquire the best accounting talent in the industry. In terms of market growth, I have been working on a strategy to take GI beyond the UK and Europe into other important markets of the USA, Canada, Australia, and Singapore. This will make GI a global player with the best accounting talent and training.

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If a software engineer can work for clients in the United States of America, Canada, Europe, why can’t a lawyer provide his services to clients in these countries? If a fresh computer science graduate can freelance and earn in dollar and euro, why can’t a lawyer do the same? As someone who has completed B.E and L.L.B, I can say that law is a far difficult and complex subject to understand (at least for me).

One day, I, Pramil Kant, found an email from LawSikho informing me of some Bootcamp. Our country was facing a second wave of covid-19 pandemic and therefore, I needed something to distract me. Therefore, I decided to attend their Bootcamp. After attending the Bootcamp, I decided to enrol for the Diploma in Advanced Contract Drafting, Negotiation and Dispute Resolution at LawSikho.

These courses are completely different from what is being taught at law schools. These courses are aimed at teaching students the practical skills which are required in the field of law. I do not remember any of my law teachers explaining to me the meaning and significance of boilerplate courses, the importance of dispute resolution clauses etc. The best part of LawSikho assignments is that the questions are aimed at the problem-solving skills of the students. So, in assignments, we are asked to draft non-disclosure agreements for two pharmaceutical companies which are sharing their research to create a new drug. Such exercises push students to start thinking analytically and logically.

Another feature of LawSikho that I admired most is the support that we get from the placement team. The placement team guides students at each step; right from preparing cv, cover letters and reviewing them to preparing a profile on Fiverr and Upwork. There are special sessions that are conducted for online platforms like LinkedIn. I never knew that LinkedIn can be such a powerful platform for branding and getting freelance work. The placement teams regularly conduct online sessions for cold emailing to potential clients, the importance of regularly posting quality content on LinkedIn etc.

I joined LawSikho in June 2021 and by now, I have worked with several start-ups and businesses. I have drafted legal agreements and contracts, terms of use, GDPR/CalOPPA compliant privacy policy for them. Another important change that I have noticed in myself is that my outlook towards the legal profession has gone a 180-degree change. I believe that instead of relying solely on corporate jobs, we lawyers should also venture as freelancers and start-up founders. If engineers can create start-ups, so can lawyers!

Stories of fresh law graduate not getting decent jobs after their graduation or lower court lawyers facing problems in making their ends meet are very common. I believe that the solution to such problems lies in freelancing. But in freelancing, you need to have a proper skill set for getting work. And this is where LawSikho comes into the picture. I believe that LawSikho is indeed democratizing legal education in India.

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Sunil Agrawal & Associates (SAA), real estate experts in Indore, held a webinar on October 2, 2021, to guide and solve queries of all first-time home buyers. Vipul Agrawal, Managing Director at Sunil Agrawal & Associates (SAA), hosted the webinar and voiced questions on behalf of more than 100 attendees. Leading experts gave insights, information and answered first-time home buying queries. Experts who joined the webinar were Sandeep Shrivastav, Vice President, CREDAI MP and Secretary, CREDAI Indore. Mr. Shrivastav has been working for 32 years in the real estate market in Indore. The other expert was Mr. Sachin Pal, AGM and Marketing Business Head at HDFC Limited.

All the panellists talked about fundamental doubts that may arise in a first-time homebuyer’s mind. To educate, they touched upon subjects like location, budgeting, EMI, home loan, type of properties, legal formalities, repayment and a lot more. The webinar lasted for about 45 minutes, covering all aspects of home buying, the future of real estate in Indore- offering solutions.

The most important concern that came out for homebuyers is which location to choose. Mr. Shrivastav said that location is a personal choice based on convenience and requirement. It must suit the family and individual requirements. He added that all locations are being equally developed in Indore by the State Government. The construction of Bypass, Super Corridor, Rau, Khandwa Road and BRTS are notable accomplishments in Indore. Therefore, any location is a good location if it meets individual needs.

Touching on the legality of property, Shrivastav said to always check RERA registration of the project. On the other hand, where the RERA number is not applicable or not available, it is crucial to check the town planning permission and approved plan. He suggested hiring an advocate before finalizing. He added that buyers obsess with house-pricing, and awareness regarding title documents in real estate is lacking, causing unneeded hassle.

The second subject that worries a first-time homebuyer is budgeting, which was discussed at length during the webinar. Mr. Pal said that similar to location, budgeting is also personal. Nonetheless, the important factor is a monthly income for loan sanctioning. He advised all homebuyers not to think short term. Rather focus on the income they will have over the years and then plan the home budget since a home is a constant asset.

The panel progressed further, discussing the shifting property trends in homebuying. In the past 2-years, buyers have started preferring ready possession property over-under constructed ones. Mr. Shrivastav said this is because people want to ignore EMIs and recurring rent amounts during the construction of the house. Nonetheless, the advantage one gets while buying under-construction property is the autonomy to modify the plan. The only fear buyers have is the timeliness of property completion. That’s why choosing an upright and reputed builder is a must for such properties. Mr. Shrivastav added that under construction has better price benefits and flexibility. That’s why it is preferable, but the fear of being cheated dominates the buyers.

Talking about property appreciation concerns, Mr. Shrivastav said that the real estate market is not a share market. It is a long-term investment, and there will always be a short-term risk. Appreciation will definitely come on any property in Indore in three to five years. Convenience shall be kept over everything. Real estate will never be a losing game if there is foresightedness.

A first-time homebuyer is always concerned about the loan. Where to begin? And what to do? This agenda was also solved during the webinar where Mr. Pal said that nowadays, especially post-Covid, everything can be done online. There is a step-by-step process to get a home loan sanctioned, which is easy and short. 80% of the applications have shifted to the online platform. Mr. Pal assured that it is very simple, and the documents required are very basic that can be arranged within 30 minutes. A few documents can differ depending on if someone has a salaried account or is self-employed. And EMI can be calculated via online EMI calculators.

Pal said that the more time customers take to repay, the more beneficial it is for them since they enjoy income tax benefits. Nonetheless, if buyers want to repay the loan immediately, they can, and there is no pre-payment penalty. A point that buyers forget is plot loans. Banks can give loans on the plot too, that to up to 70% of plot’s market value. Therefore, they can choose to buy plots also.

Reflecting on the future of real estate in Indore, the panellists ended the discussion on a positive note. Appreciating the government Infrastructure support in Indore, and the clean city drive experts said that Indore would become the next Pune in 5 years. Vipul Agrawal further added that “even people living outside in metros have started investing in Indore, and there is a lot of potential here.” Talking about technicalities, he said that young homebuyers have a great risk-taking appetite that works in their favour. Also, the rate of interest is at the lowest. It is less likely that it will go lower than 6.70%. Even if it does, it won’t be significant. Mr. Vipul said that there is no point in waiting to take a decision – declaring it as the best time to buy property.

Sunil Agrawal & Associates (SAA) also held a webinar during the first lockdown, talking about Indore Real Estate Market post- Covid, and surely the trends are reflected in the market now. The real estate market has come a long way on the side of the homebuyer’s benefit. And will see a progression from here on. Webinars organized by Sunil Agrawal & Associates (SAA) are insightful for those who are interested in real estate.

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