Category : Buying property

Buying property smart city mission

Smart City Mission will improve the Real Estate market in India

Jan 9,2018 / By / No Comment

The Central Government has already disclosed 98 cities in India under the ‘Smart City Mission’. The definition of a smart city is nothing but a well-developed city with proper infrastructure and services such as well-organized transport system, wide roads, metro, and parks.

The requirements differ from city to city. Smart cities are long-term plans that are to be accomplished by the Central Government within a time frame of 5 years. It is definitely an economic booster for the cities. From this move, the Indian Real Estate market will be benefited the most. Let us see how “Smart Cities Mission” going to benefit the Real Estate market.

• Increase in land prices – Unproductive lands in the peripheries of the city will be effectively used for the smart cities project. The unplanned areas will be planned by increasing the land price and already existing residential projects.

• Increase in the number of housing projects – The infrastructural development will invite more business in the city and hence the total number of people will also upsurge in the city. Most of the home buyers would settle down there giving rise to housing supplies. More housing projects will be developed to provide accommodations to a large number of the city population.

• Development of Open Spaces – Smart City emphases on the development of open spaces such as parks, recreation spaces, playgrounds, etc. Home buyers may opt to live near open spaces, and indulge themselves in various sports here.

• Transport Services – Most of the smart cities have metro in their plan. Living in smart cities will make commuting easier inside the city. One can travel hassle-free. Moreover having a home near metro station can reduce our expenses on travels.

• Wider Roads and Lanes – Living in a smart city assures you wider roads and lanes for smooth movement. It reduces the number of accidents and makes our movement more comfortable. Now, Real Estate developers need not have to worry about the city’s plan anymore as Smart City is doing everything to lure the home buyers.

The Central Government is spending a huge amount on this mission. Smart City Mission promises a lot in the form of technology, engineering, transportation, sanitation etc. It is yet to see how things will turn out in future but with the development of the city, comes a need for accommodation and that is where Indian Real Estate market will play the role.

Read More
Buying property Real Estate Real Estate News

Trends to redefine the Indian Real Estate Market 2018

Jan 8,2018 / By / No Comment

In 2017, the Indian Real Estate sector has seen a substantial alteration with the implementation of reforms such as GST and RERA. This year look promising for good supply of houses across major Indian markets, and the growth prospects look brighter than ever. The Act was formulated to streamline and standardize the unorganized real estate structure in India.

Upgrading in the regulatory framework has built up an attractive destination for both global and Indian investors. So far, Indian real estate has attracted USD 32 billion in private equity and due to transparency, NRIs find India’s real estate market more trustworthy.

Developers will re-structure their business models, developers launched many projects and there was no assurance of completion of the projects. Now, through the RERA act, a time limit has been set for the projects to be completed. It will force developers to upgrade their business model. The developers will require bringing more clarity as well as liability in their system, and do a lot to upsurge consumer confidence.

Also, the Goods and service tax (GST) as well as the Benami Transactions (Prohibition) amendment act; will have a major impact on, how developers run their business. Developers should bring changes in their business models to maintain in the market.

The REITs will have a crucial and long-term impact on developers, with the choice of either risking or ‘corporatizing’ taking over, with their larger counterparts.

Here are the trends that are expected to reshape and redefine the sector:

1. Real estate developers are changing their business plans- Recent implementation of reforms such as the Benami Property Act, RERA, and GST have enforced a greater level of accountability, transparency, and quality-on-time on the part of real estate developers. Projects are therefore much more trustworthy and meet the set standards.

2. Workspaces are evolving into ‘co-working’ spaces- With the fast-evolving co-working space culture in India, regular office spaces will give way to more hybrid co-working spaces. Corporates and co-working operators will now work one behind the other, which in turn will benefit the real estate economy and also increase productivity, cost-efficiency and employee retention.

3. FDI into real estate will increase further- The launch of Real Estate Investment Trusts in 2017 enhanced transparency in real estate transactions, the real estate sector will draw even more worldwide investors than before.

4. Affordable housing- There is a target of building one crore new houses in rural India by 2019. The Housing for All scheme has been fixed for 2022, and affording housing in India is receiving the much-needed infrastructural attention in order to meet the target set.

5. REITs will permit substantial growth- It is expected that REITs will add considerable growth in India’s growth story. As progressively office spaces in India become REITs complaint, a variety of smaller investors will put in their money in return for regular dividends at relatively low risk.

With the growing trends in real estate segment, investors are now moving for investment in small scale as well. Real estate investing, even on a very small scale, remains a proven means of building an individual’s cash flow and wealth.

RERA was formulated to streamline and standardize the unorganized real estate market in India. However, once the market is standardized, there will be an array of opportunities to scale-up. With untrustworthy and deceiving developers out of the market, there will be only one way to go, forward.

Read More
Buying property Infrastructural development Real Estate Smart Residential Living

Violet line of Delhi Metro to boost the real estate market of Ballabhgarh

Jan 2,2018 / By / No Comment

The Violet Metro Line of the Delhi is set for the development of the growing industrial hub of Ballabhgarh in Faridabad. The 3.2-km elevated corridor will have two stations and is expected to meet the extended deadline which is June 2018. Earlier the launch was planned in December 2017.

This corridor will extend from the 13.8-km Badarpur – Escorts Mujesar stretch which was opened to the public in September 2015. The other end of the line stretches up to ITO in Delhi and there are plans to connect it to Kashmere Gate on the red line.

The development will significantly benefit travelers going towards Ballabhgarh as the destination is a noticeable business hub which houses several educational institutions and industries. It will also increase employment opportunities.

Recently Ballabhgarh was renamed as Balramgarh. Chief Minister of Haryana, Manohar Lal Khattar had publicized many developmental projects for the area declaring it as a developmental zone.

The cost of the metro project from YMCA Chowk to Ballabhgarh is Rs 580 crore with around Rs 95 crore provided by the central government.

YMCA Chowk-Ballabhgarh metro project is one of the two-line extension projects worth Rs 1,090 crore sanctioned by the Public Investment Board (PIB) of the Ministry of Finance. The other is an underground corridor from Najafgarh to Dhansa Border. The metro trains on the Badarpur-Faridabad runs on solar power which is a prominent feature of the project.

The project began in 2015 but there was a delay caused due to legal disputes over land required for construction of pillars for crossover track near the main Ballabhgarh station as well as removal or shifting of water and sewer pipelines.

Connectivity and infrastructure in Ballabhgarh

Ballabhgarh is linked to the emerging NCR hub of Sohna near Gurgaon via the 35-km long Ballabhgarh-Sohna (BS) road. The nearest railway stations are Ballabhgarh railway station and Faridabad NW TN railway station.

The area houses reputed educational institutes like Comprehensive Rural Health Services Project (rural field practice area of AIIMS) or called Civil Hospital and Cement Research Institute of India. Besides, the YMCA University of Science and Technology is less than five kilometers from the locality. Reputed companies like IBM and Cognizant also have their offices nearby.

Healthcare center, primary schools, and retail shops are available in the surrounding areas. The government had announced to grant Rs 10 crore for the rebuilding of dilapidated bypass of Faridabad and restoring of tube wells in the area.

Real estate in Ballabhgarh

Settled on the National Highway-2 about 30 kilometers from Delhi, Ballabhgarh is more of a commercial hub and residential growth is not as noticeable as in the neighboring areas of Sector 56, Sector 76 to Sector 88 in Faridabad.

These neighborhoods are active residential colonies with plenty availability of affordable homes. There are many such upcoming residential properties in the vicinity launched by local developers. The average capital value of residential properties in Ballabhgarh is Rs 2,800 per sqft. The cost of 2BHK apartments starts at less than Rs 20 lakh for an average size of 850 sqft.

Read More
Buying property Infrastructural development Real Estate News Smart Residential Living

Mumbai civic body plans to link 220 km roads by 2034

Dec 29,2017 / By / No Comment

Brihanmumbai Municipal Corporation plans to construct 41 km linked roads connecting areas that are not currently linked. By 2034, the BMC will construct 220km of such links that are presently missing.

The projects are part of the comprehensive mobility plan (CMP), designed to upgrade the transport system, along with improving the infrastructure of the city. These linked roads will reduce the travel time and will act as short-cuts in certain areas, reducing the jamming on main roads

The plan emphases on broadening congested roads, connecting missing links, need for integrated fare structure and common ticketing for the present public transport system.

In the first phase of the project will connect 41km of links in Bandra, Dadar, Byculla, Wadala, Chembur, Malad and Lower Parel, among others. In the second phase, the civic body will complete work on 80km of missing links till 2024 and the rest till 2034. In most cases, the expansions being considered for the links have slums or structures that can be improved, said, civic officials.

Some of the missing link roads suggested in the plan include connecting:

  • Senapati-Bapat Road to Central Railway Line (Dadar)
  • E Moses Road to Lala Lajpat Rai Road (Lower Parel)
  • Pestom Sagar to Phule Nagar Road (Chembur)
  • Ghatkopar-Mankhurd Link Road to Akruti Rising City Road (Ghatkopar),
  • BKC G Block to MMRDA Grounds (Bandra)
  • Madh Marve Road to Madh Jetty Road (Malad).

Chief engineer of roads and traffic department, Mr. Vinod Chitore, said, “We have started to implement the plan and work on selected roads.

The BMC is managing with other shareholders of the plan, including the Mumbai Metropolitan Region Development Authority (MMRDA), Indian Railways, Brihanmumbai Electricity Supply Transport and the traffic police department.

The estimated cost of the plan is Rs1.68 lakh crore over the next 20 years. The civic officials said that BMC will invest Rs69,000 crore, of which it will donate more than Rs7, 000 crore in the first phase. The MMRDA will give Rs76,283 crore in the first phase, while the Indian Railways will contribute Rs18,359 crore. BEST will shell out Rs2,590 crore and the traffic police will fund Rs1,350 crore.

This infrastructural development with further pushes the real estate market in Mumbai, making Mumbai properties costlier in the above-said areas.

 

Read More
Buying property Infrastructural development Real Estate Real Estate News

Area in Focus: Kompally

Dec 22,2017 / By / No Comment

Planning to purchase a 2 bedrooms apartment in Hyderabad within a budget range of Rs 30 lakhs to Rs 40 lakhs at a location having smooth connectivity with the IT Hubs close by then Kompally should be the option for you.

Properties at Kompally are gaining momentum due to their affordable property prices and developing infrastructure. The price points offered by projects in this locality make a viable proposition for property investors, too.

Kompally is approximately 28 kilometers away from commercial business districts of Hitech City and Gachibowli, but, the distance can be covered within 45-60 minutes all because of the Outer Ring Road (ORR). Kompally residents can quickly move around within the city without facing traffic issues.

Kompally is an ideal choice for denizens working in Secunderabad. It is located just 14 km from Secunderabad, and perhaps this is the reason why Kompally has a large number of property buyers from Secunderabad.

Moreover, the affordable property price is driving residential properties in Kompally and people from Hyderabad are not hesitating to opt for this location either.

The locality offers another great opportunity for those who have a dream of building their dream house accordingly on an independent plot. There are gated-community projects which are selling plots in the range of Rs 1,500-2,200 per sqft.

Currently, these gate communities are under construction, and you may face problems related to roads Maybe this is the reason why property prices are less here. Once these societies get connected via well-build roads, the property prices will shoot up.

While the physical infrastructure within the area is developing very fast, there is no second thought about the quality of its connectivity to the other parts of the city. Residential properties in Kompally are easily accessible through the National Highway-7 (NH7) which falls near the locality. The Andhra Pradesh State Road Transport Corporation (APSRTC) operates buses in this locality also so commuting is not a problem for the people residing here.

The social infrastructure in this area is also developing gradually with educational institutions, health care centers, supermarkets etc which is attracting more and more people to move in Kompally

There are plans to build 14 gateways in Hyderabad, of which one will be coming up on Medchal-Kompally Road. This project will make Hyderabad safer and secure by keeping a track of the incoming and outgoing traffic. This infrastructural development might not directly influence the real estate market of the area but it will positively add to the locality’s overall appeal.

Some of the ongoing projects in Kompally within a budget range of Rs 30 lakhs to Rs 40 lakhs are below:

Hivision Residency, MYPI Green Castle, ARR Fortune, SLN Urbana, PSR Kalanjali and RK Panchsheel Park

Read More
1 … 18 19 20 21 22
займ с плохой кредитной историей