Festivals offer special boosters to Real Estate sector in India

Nov 24,2017 / By Priyanka / No Comment

We Indians have the deep down significance of festivals in our hearts; in our country, it is considered as one of the fortunate time to start something new and good. By the term “good” the general tendency of any individual is to make some investments in solid sectors like gold, stocks, diamonds etc. Hence with all those money flowing in the market real estate sector is buzzed with activity.

There is certain emotional novelty attached to the festivals and therefore the best month considered in calendars is from October to March. Given that these festivals offer a lot of freebies and discounts on the home buying the excitement and sentiments are totally relatable. The current market rate escalates due to rebounding economy, and some relief from the interest rates. But the economy and business does not totally run on sentiments of festivals, lets us see the current situation where actually these offers attract the buyers.

To attract more and more buyers and increase the sale of their inventories, real estate companies start rolling out great offers, freebies, cash discounts, gold coins, lucky draws, and jackpots. Some developers also provide international holiday package, free car parking, and many more offers. As we all know the online real estate portals in today’s time is the most visited and trusted source of getting information and selecting a property.

A real estate portal gives you an entire picture of a deal from its best rates to best choice of developers, they also show the clear picture of the property which gives an authentication to deal. Hence developers prefer these online sale markets and take the online portal route for marketing their project. To lure and attract the buyers these portals and developer work in collaboration making highly innovative deals which easily gets popular among the home buyers and investors too. Some of them are like-

- Online festival sale- these sales are a virtual sale and are of mostly 3 to 4 days longs giving various schemes at lowest prices. Consumers are offered various payment plans, rent back opportunities, free interior services or plumbing services for 1 year, less interest rate.

- Customized payment plans – flexible payment schemes are available on the online portals which allow the customers to modify the schedules of payment.

- Financing schemes- in simple language it is a scheme of 20:80, 30:70, etc. these schemes are marketed in the name of ‘subvention scheme’ i.e. Constructed linked plans & Possession linked plans.

- Another most interesting offers that run on portal is the ‘buyback and assured return’, here the buyer totally depends on the funding hence under this scheme, buyers are asked to pay a certain amount within given period of time where they are assured of returns

- Price fluctuations- running scheme of any developer that lure the buyer is ‘get a 3BHK flat in 2BHK rates’

- A buyer always looks for the loyal developer and therefore any builder does not want its image to rundown. They take testimony existing customers or old one works a lot.

- Cashback offers, no pre-EMI scheme, furnished flats, club membership free, and car parking free.

Freebies and offers are incidental at the look, when you go out to buy a dream home for yourself buyers must do due diligence and research asses of the effectiveness of the offers and schemes flooded on the online portals.

Buying property Real Estate Real Estate News Smart Residential Living

Why property buyers are looking for ready-to-move-in properties

Nov 22,2017 / By Priyanka / No Comment

Home buyers look for a safe and secure place which provides all types of amenities, facilities, and suitable environment. Ready-to-move properties create a new image and a symbol of the new beginning of life.

In the frantic life, everyone wants a place where one can rest and spend quality time. To provide such ease and coziness many of prominent real estate developers are providing ready-to-move-in apartments.

Nowadays, the home buyers are very smart and they invest in projects that are safe and productive. Before making the final call, they make detailed checks on the realty firms, they properly inspect the developer’s track record, past projects and opt for ready to move in flats.

It is found that a good number of home buyers are interested in buying ready-to-move-in property when compared to under construction property, as under construction property requires waiting time, which can take a couple of months and sometimes even years to get possession. There are many other reasons which can cause the delay of the project, due to which home buyers prefer ready to move property.

Advantages of buying ready-to-move-in property:
Instant possession: Buyers do not have to wait to occupy the property. All buyers have to do is make the payment, sign the required papers and move in.

Tax Benefits: Most home buyers avail of home loans to purchase a property. For a ready to move in property, the tax benefits are plenty from a home loan payment. A home buyer is allowed to claim a deduction from their income of up to Rs. 1.5 lac on the principal under Section 80C of the Income Tax Act and an additional deduction of up to Rs. 2 lac on the interest component of the home loan, under Section 24B.

Verify legal status: It is easy to check if the developer has obtained all the necessary papers such as Occupancy Certificate, Completion Certificate etc. Since the project s already completed. You should also get lawyer to cross-check the Land title to save yourself from any future difficulties

You buy what you see: Home buyers pay for what they see. The buyer gets a fair knowledge about the project, locality, and other facilities as there are people already living in the apartment society.
No service tax: You need not have to pay service tax if you buying or investing in a ready to move in property.

Instant relief from Rent: Denizens who are shelling out high rent or traveling very far for their work incline to buy the ready to move apartment because they want speedy relief from the high rent they are paying or travel cost and one can get it in ready to move properties.

Neighborhood: This is one biggest advantage of ready to move properties. You can see who your neighbors are, what community they belong to and if you would like to be with them or not.

Infrastructure: The decision of purchasing a home also depends on the infrastructure. You should consider whether the location is well connected and has necessary infrastructure such as roads, transport facilities and educational institutes etc. nearby.

Buying a property is always a big financial decision. So, discover your options and do your assessment well beforehand and make your buying decision only when you are financially stable and confident enough about it.

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Top expensive localities in Bengaluru

Nov 17,2017 / By Priyanka / No Comment

Bengaluru’s rapid expansion due to the IT boom has extended the city beyond its limits. The adjoining surroundings have changed into busy neighborhoods offering residential choices to many expats who have shifted to Bengaluru looking for better chances. Before listing the poshest localities of Bengaluru, you should first understand what all factors decide the value of a residential area:

Availability of land: Availability of large land parcels for the development of real estate decreases the valuation of property in areas compared to those where land is moderately rare.

Amenities: Areas that provide facilities such as community centers, proper electric connections, telephone lines, parks, and parking space have an edge in the real estate market. Moreover, developers providing luxury home are offering features such as five-star concierge, helipad, and golf courses and are reformulating the idea of luxury amenities.

Demand and supply: The price of real estate is inversely proportional to its supply. Hence, the more sought-after locality, the higher its property value in the real estate market.

Infrastructure: Infrastructure in the form of flyovers, roads, bus terminals, malls other nearby amenities helps in developing an area’s value. Meanwhile, social infrastructure that extends to health care facilities, educational institutions, entertainment hubs, and retail centers also add demand.

Location: Location is the golden standard of real estate assessment and is undoubtedly the most important factor determining the worth of any locality. Usually, real estate values are the highest at the city’s center and drop as we move to the fringes.

Presence of commercial real estate: The development of Special Economic Zones (SEZ) and offices in the proximity of residential areas help in decreasing traveling time and has a direct impact on the prices of properties in the area.

Based on the above factors, here’s a snapshot of the seven most expensive residential areas in Bengaluru:

Sadashivanagar: This locality is close to central Bengaluru and also reachable to the northern suburbs. Sadashivnagar is a very high profile locality and inarguably the priciest residential locality in Bengaluru. The locality is the chosen address of numerous industrialists, movie actors, and politicians.

With its tree-lined lanes and majestic mansions, the area commands amongst the highest real estate values in Bengaluru. Capital values: Rs 16,000/sq ft

Shanthala Nagar: Shanthala Nagar covers Lavelle Road, Vittal Mallya Road, and Kasturba Road and is a posh area located right in the heart of Bengaluru. Occupied with both old apartments and new commercial establishments. Shantahala Nagar is one of the most esteemed addresses.

Lavelle Road is packed with shopping centers and restaurants and is also home to the historical D’Souza Layout.

Vittal Mallya Road houses some well-known luxury brands and is also home to UB City, as well as many prominent hotels.

Kasturba Road is the address for landmark buildings such as the Venkatappa Art Gallery, Visvesvaraya Museum, Government Museum, and the Kanteerava Stadium. Capital values: Rs 16,000/sq ft

Malleswaram: It is one of the oldest localities in Bengaluru and is located in the north-west part of the city. Malleswaram effortlessly blends the old and the modern and is home to popular retail hubs like Margosa Road and Sampige Road.

The area enjoys good connectivity via BMTC buses and Yeshwanthpur railway stations and recently, Namma Metro. It is mostly occupied by independent homes, and the absence of availability of land parcels has further enriched the locality’s value. Capital values: Rs 12,400/sq ft

Richmond Town: Richmond Town is centrally-located area is a yet another old locality in Bengaluru. The locality is an integral part of Bangalore’s multi-cultural philosophy. Surrounded by schools, hospitals, and recreational centers.

Richmond Town also enjoys close proximity to noticeable retail districts such as MG Road, Brigade Road, and Richmond Road. Along with excellent Metro and road connectivity, the area also boasts of some of the most expensive residential projects in the city. Capital values: Rs 11,000/sq ft

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Haryana government to auction part of Global City land, registration closes on December 13

Nov 15,2017 / By Priyanka / No Comment

The Haryana state industrial and infrastructure development corporation (HSIIDC) has decided to auction 100 acres from Global City land pool.

According to HSIIDC officials, latest evaluations for the Global City project have thrown up a constraint of a little over 1,000 acres. Therefore, a portion of land measuring around 100 acres is vacant for other use. The auction will be done in parts, the Haryana government will put 20 acres adjacent to Dwarka Expressway on the block, in the first round to test the market and will then plan the following auctions accordingly.

Registrations of land for the first round of have been opened and the last date of registration is December 13, 2017. The details and procedure for the registration are available on the HSIIDC portal.

Originally, 1,383 acres were acquired for the Global City project which has faced multiple hurdles. The project is yet to be launched. The Manohar Lal Khattar government is keen on launching the project at the earliest.

According to Manoj Pal Singh, additional general manager, HSIIDC and head of the Global City project at HSIIDC, the land comes under mixed-use development and is also applicable for benefits under the transit-oriented development (TOD) policy.

Since it just adjoining the expressway, which is being developed as a national highway, the government hopes the auction will fetch it a good price.

According to sources at the corporation, the land value should be not less than Rs 100 crore going by the prevailing rate of Rs 5 crore per acre. If it is anything less than that, the corporation would not make any considerable margins. The auction will also bring some relief for the corporation, which has been facing financial problems lately.

Talking about the expected price Manoj Pal Singh said, “As of now, we don’t have any idea because different reports are projecting different prices. It is because of this reason that we have kept the reserve price open for the auction.”

According to sources, the HSIIDC has a huge debt of Rs 9,775 crore approximately on account of increased land compensation costs to allottees across main industrial projects. This amount is the sum of all loans taken by the corporation until May 2017 for 18 different industrial projects.

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Category : Real Estate News

Festivals offer special boosters to Real Estate sector in India

Why property buyers are looking for ready-to-move-in properties

Top expensive localities in Bengaluru

Haryana government to auction part of Global City land, registration closes on December 13