Friday, February 27, 2009

Real Estate Prices Dip Again

Just when you thought real estate prices were beginning to stabilise, prices have dropped again.

After DLF’s price correction in its Bannerghatta Road property, real estate major Sobha Developers dropped prices by a whopping 22%. Sobha was the first to effect a price drop of 8% to 10% three months ago. Now, some of its properties like Sobha Sunscape are selling at 22% lower than the price quoted three months ago.

According to a senior ICICI Home Search official, “The first round of price drops by developers didn’t create any market stir. Many are now looking at a second round that’s sure to create excitement among buyers.”

According to developers’ association CREDAI, Bangalore property prices have fallen by 15% to 20% as compared to the same period last year and a further drop is unlikely. A 2-bedroom, 1,200 sqft apartment at Sobha Sunscape is available for Rs 38 lakh, which includes car park, registration and stamp duty charges, VAT charges, as well as maintenance deposit and BWSSB and Bescom charges.

Except in two high-end villa projects, the company has dropped prices in all properties by 15%, though some rates may be available only during its ongoing property mela.

J C Sharma, MD, Sobha Developers, said though the real estate situation still remains challenging, “the current market situation allows us to pass on benefits to the consumer”. Interest rates have dropped to 8%, service tax is out, and stamp duty rate has fallen.

“After DLF dropped prices, there’s been tremendous excitement. Today, many project site visits are happening, something consumers had stopped for the past 4-5 months,” said a leading real estate agent who requested anonymity.

Source: Times of India

Thursday, February 26, 2009

NRI realty investments drop by over 50%

The NRI season is now at its fag end. Despite undertaking tours to the US, the UK and Middle East and doling out freebies and discounts, realtors have been unable to catch the attention of this cash-rich community.

The result: NRI investments in India-based properties dropped by over 50% this season, with the four metro cities and “NRI-heavy” mirco markets in states like Gujarat and Kerala being among the worst hit.

“Compared to last year, the drop in NRI interest in India-based properties has been almost 50% in all sectors. The metros showed a sharp drop in demand, largely owing to the steep prices”, says Sanjay Dutt, CEO - business, Jones Lang LaSalle Meghraj (JLLM), a global real estate consultancy firm. “Very few luxury homes have been sold as compared to last year”, he adds.
At a time when the domestic demand in micro-markets in Tier-I, II and III cities began to slump in the third quarter of this financial year, the developers were hopeful that the demand from the NRIs will pep up the sentiments in the realty markets.

However, the global slowdown and the resulting slump froze the bullish sentiments among NRIs. “Though a far-from-spectacular number of transactions have indeed taken place this season, generalised job insecurity and a desire to conserve available cash among IT employees abroad has curbed investment demand for high-end properties, Mr Dutt said adding that the response was “significantly muted” from the NRI community this season.

The sharp corrections seen in some larger cities has also led to an “acute wait-and-watch attitude among NRIs who - just like everyone else - are now very price sensitive”, he explained.

Source:Economics Times

Tuesday, February 24, 2009

Good News On Its Way For Realty Sector

Rakesh Pathak is an MBA and works in Tata Forum. He is planning to buy a house in the range of Rs 30 lakh to 40 lakh. When he calculated the EMI on a loan for the prospective property, he cancelled the plan.

A house that suits his requirements is way beyond his budget - he is waiting for the home loans interest rates to come down. Like Rakesh, many middle class salaried people would like to buy a property through home loan - while others put money in shares, rather than invest in property.

Dr Mamta Chaubey, reader in Delhi University, wishes to buy a house through home loan. Though she is of the opinion that for middle class people a home loan is affordable, she is nevertheless reluctant to take the plunge as high interest rates have put a dampener on everything.

Sakshi Malhotra, working in an MNC, has been planning to buy a house for a long time She used to wait for prices to come down every year and would keep deferring her plans each year. This year, she was determined to buy property but the thought of paying a hefty EMI dampened her spirit.

One wants property price or interest rates to go down because real estate market is uncertain. With the worldwide financial crisis showing no signs of ending, India too, is keeping its fingers crossed.

Tremors are being felt everywhere - from the volatile stock market to the unpredictable rupee, and from the spiralling inflation to rising home loan interest rates.

Property is of two kinds - movable and immovable property. While movable property, also called chattels , such as money, securities and goods, which can be moved from one place to the other, immovable property such as land and the objects permanently attached to it such as buildings, constitute immovable property.

There also exists another property called intellectual property, which refers to the right over artistic creations or inventions.

Immovable properties have the essential characteristic that only the title to the property changes by virtue of the transfer, whereas, the physical location of it does not change. Property investment is usually referred to as real estate investment or investment in immovable properties or assets.

The investment in property essentially depends on the risks associated with it, that is to say, even if the venture succeeds when the future stream of income will accrue to the investor and the alternative investment opportunities.

Real estate investment can be attractive if viewed as a business opportunity ; it can generate rental income, using it as collateral to secure a loan for a business venture, to offset otherwise taxable income through cash savings on tax-deductible interest rate losses, or simply from the profits garnered from its resale.

Investment in property is treated as a long-term gain and investment professionals argue that 5%-20 % of investment portfolio should be directed towards property or real estate . So, everyone in this sector is waiting for some good news, to pick up the threads from where they left, at the beginning of the year.

Source:Economics Times

Monday, February 23, 2009

Tatas, Birlas to Invest in Real Estate

Two of India’s large business houses, the Birlas and the Tatas, are looking at real estate as a major investment area, albeit in different ways.

While the Birlas, through a financial services arm, are offering real estate as an alternative investment option to clients, the Tatas are planning to develop surplus land held by group companies. The Tatas may also invest in the sector part of funds raised through recent public offerings.

These moves come at a time when real estate prices are correcting and low demand for projects has prompted large developers to default on financial commitments and project deadlines.

Aditya Birla Management director Ajay Srinivasan, who also heads the financial services business, said the conglomerate is merely gearing up for the future. “We are now putting a team in place and want to be ready when the time is right,” he told ET.

The financial services arm of the group is setting up a real estate and private equity arm for its wealth management units. To be headed by Sashi Kumar, the real estate business would be managed through Birla Sun Life Asset Management. The Birlas plan to subsequently launch two real estate funds, one offshore and the other local, for the sector.

Although funds will be raised overseas as well, the investment destinations will be in India and can include distressed real estate assets. Tata Housing Development, a real estate player, has already said that it plans to leverage its tie-ups with banks by developing properties on surplus land owned by other Tata group companies.

Tata Housing is now identifying excess landbanks owned by companies such as TCS, Voltas, Rallis India, Tata Motors, Tata Coffee and Tata Tea. Tata Capital, the financial services arm of the Tatas, is scheduled to close a largely successful non-convertible debenture issue on Tuesday; it has so far raised Rs 2,300 crore against a targeted Rs 1,500 crore. Although Tata Capital has said that it won’t lend to group companies, it has proposed to invest in most asset classes.

Anticipating a large value erosion in the realty space, Indian corporates are planning to float new funds to acquire assets in the domestic property market. Real estate funds such as Saffron Advisors have either floated or are in the process of floating funds with corpus ranging between Rs 500 crore and Rs 1,000 crore.

“As far as Indian realty is concerned, for the right projects, funds are still available,” said Saffron Advisors MD Ajoy Kapoor. “Conservative European investors, after conducting extensive due diligence and research, are more comfortable with investing in Indian real estate, provided they are able to align with right partners,” he added.

A few months ago, Munich-based retail aggregator Deutsche Capital Management underwrote $20 million for Saffron India Real Estate Fund I, an India-focussed real estate fund. DCM is raising a specific fund for investing in Indian real estate through Saffron Advisors.

Tough lending norms, unfavourable primary market and global financial worries have affected fund flow into the Indian property market. Real estate deals have fallen and fancy valuations by developers are being corrected to a large extent.

Source: Economics Times

Information That NRIs Need For Buying Real Estate Property in India

In the case of NRIs there is a general permission to acquire any immovable property (other than agricultural land, plantation or farm-house property) by way of purchase, provided the payment is made out of foreign exchange inward remittance or any Non Resident bank account in India, i.e. Non Resident External Account - NR (E), Foreign Currency Non Resident Account - FCNR or Non Resident Ordinary Account - NRO account. Although immovable property is not defined, the same will include:

* Residential property being house property, bungalow, apartment, villas and all other kinds of residential properties
* Commercial property being shops, offices and show rooms
* Industrial property being factory premises and godowns
* Land for construction of any of the above properties

Acquisition can be made by way of

* purchase
* receiving the property as a gift
* inheritance, and
* share of joint property received upon partition of family or property.

Transfer: Although transfer is not defined under the Regulations, but the definition of FEMA, 99 [Sec. 2(ze) of F.E.M.A. 1999] will apply & include:

* sale for consideration
* exchange of property
* gift of property
* relinquishment of right in a joint property.

Repatriation of Sale proceeds: An NRI being an Indian citizen or a foreign citizen of Indian origin is allowed to repatriate the sale proceeds of an immovable property subject to the following conditions:

* the acquisition should be in accordance with the existing Foreign Exchange Laws (i.e. FERA, '73 or FEMA '99).
* the purchase price was met out of Foreign Exchange Inward Remittance or NRE / FCNR (B) account, and
* in case of residential properties, repatriation is restricted to a maximum of two properties.

The NRIs who are staying abroad may enter into an agreement through their relatives by executing the Power of Attorney in their favour if it is not possible for them to be present for completing the formalities of purchase (negotiating with the builder or developer, drafting and signing of agreements and taking possession). Rental income cannot be remitted abroad and will have to be credited to the ordinary non-resident rupee account of the owner of the property.

George Gonigal provides you the best and latest info on India Property and Real Estate India. He would also let you know about Real Estate in Gurgaon for NRIs.

Friday, February 20, 2009

Real Estate Trends For 2009 and Beyond

Real Estate Trends For 2009 and Beyond
By []Ryan Tollefsen

The year 2009 will likely be a year where trends in real estate will change greatly from what we have seen over the last ten years. Bank failures, stock market crashes, and government bailouts are bombarding the American public every day. It is no wonder that people who need to buy or sell a house are discouraged. Many would like to wait to sell their home but can't afford to wait due to job relocations, change in family size, or divorce among other things. The show must go on, but it will be done differently than it has in the last few years.

The prospective home buyer of this year will likely settle for less house than they would have five years ago but they will still want a quality home that they will be happy with for many years. Some buyers will still hesitate to purchase a home even with the real estate deals that are available today because they are waiting for an even bigger bargain. Many home buyers will have to continue renting to save up significant down payments to qualify for mortgage financing since the banks have tightened their lending standards.

It is likely that FHA loans will have a revival in popularity since a smaller down payment is required to qualify for these loans. These loans are expected to be a key instrument for homebuyers throughout 2009, especially first time home buyers. Some officials feel that these loans will have a great impact on jump starting the real estate market.

It is a fact that real estate agents will have to work harder to sell homes; homes will not sell themselves in the near future. Real estate agents will have to work as consultants with buyers and help them get qualified to buy a home; by researching what the buyer can afford and by helping the buyer find ways to obtain financing. Some real estate agents will have to relearn their job, it will require more to sell a home than sticking a for sale sign up in the yard and putting a few pictures in the local paper.

Research has shown that many buyers use the internet when searching for a home to purchase. Realtors will have to adjust to this surge in internet house shopping by providing more thorough websites with more virtual tours set up for homes they are trying to sell to attract out of state buyers. User friendly web tools to help prospective home buyers search for homes on the internet will be a plus for those realtors that want to attract buyers that can qualify for home financing.

Realtors are going to have to put one hundred percent into their work to locate buyers for their real estate listings and to help them find the help they need to get qualified to purchase a home. There won't be as many quick sales so the smart real estate agent will help those prospective buyers to ready themselves to purchase a home and hope that loyalty will bring them back when they are ready and able to purchase a home.

These trying times may bring us all back to reality and force us to adjust our ways to survive and possibly even benefit from the economic downturn that we are in. Home buyers will have to take a realistic look at what they can afford and what they have to do to get ready to purchase a home. Hopefully, when we look back at this period in history we will see that some good has resulted from this period of time.

Learn more about the []Alaska Real Estate market or search []Anchorage Real Estate on Ryan Tollefsen's Alaska Real Estate web site.

Article Source:

Seven Interview Questions to Ask a Buyer Agent

Seven Interview Questions to Ask a Buyer Agent
By []Joshua Ferris

Not all that long ago the concept of buyer agency (a real estate agent representing the buyer only in a transaction) was relatively uncommon to the real estate industry because, at the time, most agents represented the sellers of property or both parties.

Buyers of real property were in need of a real estate professional to represent their needs exclusively and buyer agency was born. Fast forward to today, there are tens of thousands of agents who represent buyers in real estate transactions so here are seven questions to help you find the right buyer agent for you.

How many homes have you sold in the past year? - The real estate industry is home to over one million practicing professionals and each agent can choose whether to work part-time or full time.

Sometimes you have an agent who may be licensed to help friends and family sell real estate and other times you have the full time professional who assists in the buying and selling of dozens of properties each year. Find out how many properties your buyer agent has participated in the sale of over the past 12 months to get a better idea of how much experience they have in today’s real estate market.

How many times have you represented the buyer only in a home sale over the past year? - The representation ratio is as important to the agent’s ability to help you as their overall sales experience. Ask your buyer agent how many times they have represented the buyer only in a real estate transaction because buyer representation and seller representation are two very different concepts.

What area do you sell the most homes? - When you begin looking for a home you will need to narrow down where your ideal living areas will be. Using an agent with extensive knowledge of the area you’re most interested in will aid you in finding the right home much faster. There are many real estate agents who specialize in one county, city or even one town!

What’s the most you have negotiated off a home’s price in the past 12 months? - Part of being a buyer agent is negotiating the best price possible for your buyer client. When interviewing your buyer agent you should know what their most recent successes have been for other buyers because there’s a very real chance you will see similar results.

There are agents who constantly push for the maximum possible price reduction before you purchase a home and there are also agents who will be happy if you buy a home at asking price without negotiating at all. It’s your money and future so knowing their negotiating success is crucial to your investment.

What type of incentives are being offered by builders and homeowners right now? - During down markets you will find a lot of home builders and sometimes even homeowners who offer incentives to entice you to purchase their home. Incentives can range from the seller paying closing costs and HOA fees to car leases and free appliances.

Do you have a network of contacts that I can use to make my buying process easier? - Who your buyer agent knows really does matter. What happens if you need a new home inspector at the last minute? Having a solid network of contacts will help streamline your home buying process making it much less stressful for you.

How quickly can I expect a response from you? - A big concern for home buyers is what is going to happen once you do start the home buying process. Will your agent be available by phone, text or email? Will you have to wait three days for a response? These are important questions to ask before you choose your buyer agent.

Knowing more about your buyer agent will make you much more comfortable about working with the agent and give you a better relationship to candidly discuss aspects of home buying like sale price, contingencies and what to expect throughout the transaction.

Joshua Ferris is an associate real estate broker in Orange County NY and specializes in both []Monroe New York and []Newburgh New York real estate.

Article Source:

Bangalore - Discovering New Growth Corridors

Bangalore real estate market is the targeted hub by all the leading international companies. The high property value in the city could not able to stop the realty majors to enter the city.

Bangalore properties are always in demand for some or the other reason. The Central Business District of the city is already on the verge of saturation but still the demand is high.

The city is expanding to the peripheral areas in order to accommodate the real estate development activities happening at fast pace. Bangalore real estate builders are playing a crucial role in planning their projects. They are discovering new and untouched areas in the city and are building their projects there to save the city from decongestion.

Bangalore Real Estate Developers are constructing their projects in the new areas such as Whitefield, Old Madras road, Devanhalli, Nandi Hills and other small districts which are few kilometers away from CBD but have some open spaces.

The government is working on the strategic development across the city to solve the growing traffic problems. Residential, commercial and rental sectors in the city are facing huge demand of quality space which is better located and easy to travel.

Bangalore new airport is the perfect example which is located on the outer ring road and it takes 2 hrs to travel from CBD but has relieved Bangalore from long traffic queues which are used to happen at old airport at Indira Nagar. To buy an apartment in Bangalore most of the people prefer peripheral and outer ring road areas so that they can enjoy their life. Also the prices across the peripheral areas are somehow less as compared to the central region and Bangaloreans can find premium apartments their only.

The city is opening new growth corridors for Bangalore real estate development to happen.

George Gonigal provides you the best and latest information on Bangalore Real Estate.

If you want to Buy Apartments in Bangalore, he suggests you log on to

Hyderabad - The Next Commercial Hub

The boom in the Hyderabad real estate sector has still not been able to satisfy the growing demand from corporate looking for ready-to-occupy properties. IT and ITes are continuing to drive the market. IT professionals are vying to buy an apartment in Hyderabad.

Moreover, it’s the commercial market which is driving the residential property segment in the city. Hyderabad real estate developers feel that, in next few years BPOs and call centers, software offices and back offices of financial institutions will occupy the maximum space. Property consultants expect the upward trend in prices to continue, even as the State Government frees up land in different parts of the city and the outskirts. Land availability will facilitate the creation of corporate office space.

In Jubilli Hills, central business district of Hyderabad, capital prices of plot range from Rs 80,000 to 2 lakh per sq ft. Retail property in CBDs is around Rs 3,500- Rs 10,000 per sq ft. Multiplex are the trendy and upcoming way of commercial activities ranges from Rs 10,000 per sq ft and goes above. The rental value in this area is Rs 30,000-60,000 per month which is high in comparison to other commercial localities.

Many new commercial projects are on the cards by big national developers. Raheja group has acquired 100 acres in Gundla, Pochampalli, Delhi based DLF has acquired 3 million sq ft land for commercial activities, Godrej Properties will be setting up an IT Park on 34 acres of land at Pattancheru, Parsvanath has a mall-cum- multiplex, and a hotel project coming up in the city, Ramkey group is venturing into commercial development in the city.

Hyderabad properties are fast becoming the preferred choice for investors. The city not only provides quality infrastructure for property investments but also has more than 40 SEZs, approximately 1100 Software IT Parks and campuses, an international airport. Mall culture, new airport and subsidy in stamp duty and registration charges of property are other key factors of high rise in the value of Real Estate in Hyderabad

George Gonigal provides you the best and latest information on Bangalore Real Estate Developers, If you want to Buy Apartments in Hyderabad, he suggests you log on to

Investment in Gold and Real Estate

Investment in gold and in real estate both has their fair share of pros and cons. Following are some of the advantages and disadvantages of investing in gold and real estate.

Gold: Gold is best suited for a long time investment. The demand for gold has always been robust. The process of buying and selling with gold is quite quick. It offers near zero risk of value depreciation.

One can even invest in gold online, nowadays. Investors can now buy, sell and virtually trade in gold commodity just like any other stock or equities. This has been a driving factor for many to invest in gold because investing online reduces the risk of actually owning the metal.

Gold prices are generally not affected by the fluctuation in the currency. The gold price does not rely on potency of the currency. Also, the price of gold is not influenced by any kind of political instabilities or crisis.

However, gold doesn't provide any immediate appreciable income. The value of the income has to be seen over the long term.

Real Estate: There are multiple ways of earnings in real estate. Investment in real estate can be long term and short term. It also ensures regular inflows by way of rentals. It can be used as collateral to secure a loan and to counterbalance taxable incomes. The profits earned from property resale are apparent.

But like any other investment option this too comes with a tag of risk. The real estate market is unpredictable and comes with no guarantee. Although a large number of investors have been successful and earned huge profits with real estate investing, there is no guarantee that it is going to be same for everyone. However, one can be and should be careful and aware. Take time to familiarize yourself with the real estate market, the market terminology and investment options and processes.

Investing is a crucial decision, it has money on stake. The risk factor is common. But knowledge, awareness and clarity of your own requirements are the keys to decide upon which investment to opt for. Both of the stated investments can offer lucrative returns. Choosing one of them as an investment option requires assessment of the money one can outlay and the objective of the investment. Understanding of the market is very important.

For buying, selling or renting Property and Real Estate in India, visit Magicbricks. Also find Real Estate Agents in India at Magicbricks.

Thursday, February 12, 2009

Elevated Expressways to Interconnect Bangalore

Bangalore is hasty on the growth and development front occupying the brand name of the first IT hub in India. The Bangalore real estate developers have provided the city first class infrastructure to serve the demand. The soaring number of IT and ITeS has given Bangalore a new name but also set of problems in correlation. Bangalore is facing a major time traffic congestion problem these days owing to the large number of migrants.

The city is overcrowded with floating population who has migrated to Bangalore either for studies or for job purposes. The city roadways network is not at all sufficient to cater to the rising demand as told by the Bangalore real estate builders. The tripled number of public and private vehicles on the road without any change in the road network has led to long traffic jams and queues resulting in long traveling hours. To buy an apartment in Bangalore these factors play a crucial role.

The Government has decided to take some initiatives to advance the present road network. Bangalore peripheral and outer ring road development is the one step in this field to divert the traffic flows.

Another major step in the plan is to construct an elevated corridor. The State Government is coming up with a new project costing Rs 2,800 core to construct an elevated expressway linking Bangalore South with Bangalore North and the other to link East and West. The north -south stretch is approximately 17km long while the other is 10km long.

It is expected that the project will be completed in 24 months after initiation and some space and regulated traffic flow can be seen on the roads. The two elevated expressways will meet at Vellara Junction. This will definitely decrease the traveling time giving some degree of satisfaction to the people. Bangalore Real Estate Developers are aiming that these expressways will also boost Bangalore properties.

George Gonigal provides you the best and latest information on Properties in India, If you want to Houses for Sale in Bangalore, he suggests you log on to

Wednesday, February 11, 2009

Chennai Real Estate - Forging Ahead

India's real estate development is expected to grow at a pace of 30 per cent annually. This has a direct impact on the mega cities, especially the four metropolitans that provide real estate opportunities to grow manifold. Chennai real estate cannot be far behind.

There has been a huge demand for real estate in Chennai amongst the commercial and residential properties. In recent years, the city of Chennai has experienced a complete turnaround in its all-round infrastructure. The combined initiatives of the Government of Tamil Nadu and the Central Government are paying rich dividends in terms of approval of real estate projects related to infrastructural upgradations in Chennai.

Tata Realty and Infrastructure Ltd (TRIL) announced an agreement with Tamil Nadu Industrial Development Corporation (TIDCO) to jointly develop an IT special economic zone (SEZ). TRIL is a new enterprise of Tata Sons Ltd, the holding company of the Tata Group.

The SEZ will be implemented in two phases - the first phase of 2.30 million square feet will be ready by end-2009 and the remaining 1.70 million would be completed by 2011. TRIL has embarked on several projects for real estate and infrastructure development.

Located on a 25-acre plot in Taramani, the SEZ will include a five-star hotel or service apartments, an international convention centre and help generate direct employment for 40,000 people and indirect employment to another 15,000. Chennai real estate most certainly contributes in boosting economy of the state.

Not only Chennai Real Estate is developing rapidly along side the government of Tamil Nadu but also foreign developers are showing valuable interest in the Chennai real estate. For instance, the Lee Kim Tah Township development in Siruseri, near Chennai, reflects the success of Singapore companies who have forged successful partnerships with their Indian real estate counterparts.

George Gonigal provides you the best and latest information on Chennai Real Estate Builders, If you want to Houses for Sale in Bangalore, he suggests you log on to

Tuesday, February 10, 2009

Kolkata Real Estate - Following Metro Trends

Real estate in Kolkata is undergoing industrial and residential development since long. Trying to catch up with the trends in other metro cities Kolkata is also opening doors to modern day real estate constructions. People buying apartments in Kolkata are now looking for premium lifestyle options.

Kolkata real estate developers are constructing efficient buildings so the people investing in real estate need not to think about the quality of construction. According to real estate agents, people consider things like locations, the amenities and also the builder before buying a property in the city. Typically, apartments in Kolkata have less property prices as compared to other metro city.

Home buyers have plenty of options available for them in the market as Kolkata properties offers range of housing from the affordable to the posh and expensive. To buy an apartment in Kolkata the prices would vary distinctly depending upon location and infrastructure.

Real estate developers like DLF Group, Unitech and Diamond Group are launching their residential projects in the city leading to appreciation in property prices.

Key residential areas in Kolkata where property prices are higher than others are Belvedere, Ballygunge, Southern Avenue, Lower Circular Road and Park Street. The apartments in the city have strong feasibility both for rental and resale. The growth of the software industry around Salt Lake and Rajarhat has generated strong influx of manpower from all over the country. As a result there is a great demand for rental housing. All this has led to apprehension in Kolkata Real Estate market.

George Gonigal provides you the best and latest information on Kolkata Real Estate Builders, If you want to Buy Apartments in Kolkata, he suggests you log on to

Monday, February 9, 2009

Gurgaon Properties - Forever High

Gurgaon real estate development has comparatively given a stiff competition to all those satellite towns that are adjoining the national capital of Delhi such as NOIDA or Faridabad.

In spite of the present downturn in Indian real estate that results in a temporary dip in the land availability for real estate development, Gurgaon properties forever seems to be riding a high wave. So much so that big projects fall easily in to the lap of Gurgaon real estate. For instance, Ansal API who is ready to develop 250 acres SEZ in the near future.

The premier choice for development for most real estate builders still remains to be Gurgaon due to many reasons. The ever expanding city is strategically placed between the national capital, Delhi as well as Jaipur, the state capital of Rajasthan. Three- to four-bedroom flats in Gurgaon and its suburbs like Manesar or even Neemrana are much in demand as an investment option.

Renowned real estate builders such as Suncity are building Suncity Arcade as a commercial complex that is armed to be a crowd puller with its shops, restaurants and showrooms, beautiful ambience, convenience and modern facilities. This is proposed to be one of the most happening commercial complexes of Gurgaon real estate.

Currently, Gurgaon is flanked by the multinational companies and residential colonies giving rise to an acutely growing need to have many more commercial complexes in Gurgaon. The group housing society and residential areas like PhaseV are the potential customers of Suncity Arcade.

Gurgaon properties forever seem to remain the hot choice for Gurgaon real estate builders for multiple reasons. All that is needed is to alert the senses to balance our pockets with the choice of property investments in Gurgaon Real Estate.

Friday, February 6, 2009

Jaipur - The Latest Real Estate Trends

Jaipur, also popularly known as the pink city is largely famous as a tourist destination. Last few years has seen a lot of developments in terms of IT/ITES companies entering the Jaipur market due to affordable labour and cost of operation. As a result Jaipur properties have seen a lot of developments in terms of property transactions.

As the ratio of demand to supply is deficit, there has been remarkable escalation in the Jaipur properties rates. The infrastructure is now powered by connectivity with the 8-lane expressway and proximity to international airport. This city is set to go up to 25-30% by 2010.

Jaipur real estate builders are of the view point that investors are ready to buy apartments in Jaipur but the demand has shifted from the Walled City or Old Jaipur to locations like Ashok Nagar, C-Scheme and Lal Kothi. Vidhyadhar Nagar, Vaishali Nagar and Mansarovar.

These upcoming residential locations are mainly on the outer fringes of city. New residential projects like Omaxe City, Sushant Lok, Parsvnath Narayan City, Amarpali and Vatika are coming along Ajmer Road, Tonk Road and Kalwar Road.

In the residential segment, Bani Park, Malviya Nagar and Raja Park have also witnessed a decent appreciation in the last two years. Jaipur Real Estate Developers are of the view point that recent trend is seen that most of the investors are readily buying apartments in Jaipur and converting them into serviced apartments.

As most of the tourists prefer these serviced apartments in comparision to hotels as it gives them a homely experience.

George Gonigal provides you the best and latest information on Gurgaon Real Estate Builders, If you want to Buy Apartments in Jaipur, he suggests you log on to

Thursday, February 5, 2009

New Or Resale Property - Making a Choice

Making a choice of buying a resale or a new house largely depends on individuals need and requirements beside other factors. There are plenty of options available in the resale as well as new property market. However, both types of properties have their set of pros and cons. There are many factors which guide an individual’s choice for a buying a resale or new house.

Location - New projects generally come up in suburban and peripheral areas while resale properties are available in the main city as well as the suburban areas. So, location preference is critical while finalizing an option. It will also be related to the security aspect. Since, resale properties are available in main city areas they are more safe than new projects in distant localities.

Infrastructure - Linked to location is the infrastructure facilities. Resale properties are available in the main city and also on the outskirts. So, those on a look out for a home in the main city opt for resale houses. Infrastructure facilities, connectivity and transportation network are well laid out in the main city areas. However, availability of these facilities could be a problem with new projects coming in developing localities.

Making your own home - One reason buyers opt for the new construction is that they have the freedom to customize the house according to their choice. As L K Mehta realtor says, “The younger segment of buyers take a lot of interest in the designing aspect of the house. They go for new constructions so that they can decide on the color scheme for their house, furnishing and fixture options, flooring, walls, tiles as per their wish.”

Wide range - A new home buyer have wide range of choices. There is an array of new projects by different developers. Each project offers an assortment of features and amenities. One can select a home basis what all features they want and how much they can pay for it.

Budget - A very important consideration is budget - how much one can spend. Resale properties generally are priced higher. This is because they are situated in a developed locality with well laid out infrastructure. New projects are priced comparatively low. Moreover, one has a varied range of new properties to choose from and can bargain as well.

Maintenance - The maintenance cost of new house is minimal. Depending on the age and quality of the building maintenance cost of resale property can vary.

Innovations - Developers today don’t hesitate to try on new concepts and technologies. With wi-fi, intercom and other such facilities new projects offer contemporary homes. Also, the concept of environment safeguard is increasing among the developers and buyers are also getting conscious of the same. So, new projects tend to be more eco-friendly. Green buildings, eco-friendly building material, eco-products - paints, furnishings are new concepts and many developers are incorporating then into their new launches.

The crux of the matter is that a buyer has to be vigilant and clear about his requirements while making a choice.

George Gonigal provides you the best and latest info on Real Estate India. He would also let you know about where to buy property in India and sell property in India.

Wednesday, February 4, 2009

Bangalore – Discovering New Avenues

Real estate in Bangalore is witnessing a smooth growth in real estate sector. The city is exploring new growth avenues and corridors of development. Bangalore city is finding its satellite town which can act as a magnet attracting the bulk of population from Central Business District region. The city is facing the similar kind of problem like that of Delhi.

Bangalore is also adapting the expansion approach and the city is stretching its boundaries vertically as well as horizontally. Bangalore properties are exploring some unidentified areas that can be innovatively used for residential and commercial purposes. Today there is lot of development happening at Sajapur road, HSR Layout, Brigade Road, Old Madras Road and Jaynagar. All these areas are slightly away from CBD. These places are convenient options to meet the rising demand of residential and commercial spaces.

Bangalore Real Estate Developers are actively adopting the same methodology and buying land accordingly. Purvankara developer at Bangalore is constructing its upcoming projects at Brigade Road, Sanjay Nagar, RMV, Kanakpura and Yehlanka. These localities are situated at outskirts of the cities so development at these places will not lead to any kind of congestion or any other problem in the city.

Moreover the local property dealer said that houses for sale in Bangalore are gaining momentum only in these areas. This is because of presence of space and infrastructure. People want to enjoy their life rather then spending maximum time in commuting. Physical infrastructure across these places is also growing and more number of schools, educational institutes, local medical stores, nursing home and local shopping complexes are being constructed.

Real estate in Bangalore is always an active and innovative industry which keeps on experimenting in identifying new channels of growth. The city always makes sure that the development doesn’t create any problem in the path of progress.

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Tuesday, February 3, 2009

Aquila Heights-Tata Housing Project - Triggering Bangalore Real Estate

Bangalore real estate is all set to add a new chapter in its profile by re-framing the infrastructural design of the city. The IT triggered city is soon to revolutionize the real estate industry by constructing the tallest building. Tata Housing Development Co. Ltd is coming with their new residential project which is going to be a tallest grade A building.

A 32 Storey residential apartment is planned to be constructed at HMT near Jalahalli. The project is named as Aquila Heights is luxury apartment housing for the elite class of people. With this news Bangalore real estate markets already experienced some activity. Bangalore properties are witnessing some price hike as the residential values across the nearby localities are appreciated.

The project spreading over 6.3 acres of land is designed by Singapore based architects Ong and Ong Ltd. The structural design is such that approximately 89% area is left as open space. The project is estimated to complete by 2010. Huge amount of investments are being made by the investors and foreign investments can also be seen.

The luxury apartment is designed to facilitate the premium class and is featured with the all comfortable as well as lavish amenities. Features such as TV monitored lobby, video doors phones, outdoor fitness area, boom gate, space for billiards, badminton, gym, table tennis, kids playing area, swimming pool etc. Interiors of the apartment is constructed to give a superior finish and to give a perfection touch. Use of vitrified tiles on the floor, acrylic paint, aluminum glazed windows etc are the few parameters taken in account.

Bangalore Real Estate Builders are saying that investment in Aquila height is going fetch high returns in coming years as the project is related to the sense of pride to live in the tallest building in Bangalore. With all this Bangalore property is again ready to set an infrastructural trend in the country.

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Monday, February 2, 2009

Properties For Sale in India

A fundamental real estate investment mantra in India is that emerging localities are preferable to established and often saturated ones. Expressing their views on real estate markets in the year ahead, property consultants say that established areas eventually reach a peak in terms of appreciation potential, after which the growth rate either slows down or stagnates, moreover, there is little scope for new market drivers such as malls to find a place in saturated localities-where, property prices remain high.

According to property consultants Jones Lang LaSalle, this is not the best of scenarios from an investment point of view, since optimal investment requires low entry levels and appreciable growth within a realistic time-frame. Therefore, as one or the other destination reaches its peak potential on all these counts, new ones come into the limelight. Here is an overview on some emerging Properties for sale in India:

. Chandigarh: Though there has been a lot of speculation on Punjab's real estate market, Chandigarh is among the emerging cities that are seeing very encouraging real estate trends. It is India's first planned city, and it conforms perfectly to the key parameters by which we judge a city's growth - property market, people, physical infrastructure, social infrastructure, and business environment. Areas where properties are available for sale include Panchkula (Rs. 2500-3000/sq.ft.), Mohali (Rs. 1500-2500/sq.ft, Dera Bassi (Rs. 1300-2000/sq.ft.) and Zirakpur (Rs. 2700-3200/sq.ft.).

. Indore: Indore's Real Estate star is fundamentally on the rise, and offers good investment opportunities in project with low entry cost that are located in an area with good appreciation potential. Areas where properties are available for sale : Vijay Nagar (Rs. 3000 - 10000/sq.ft.), Bypass, A B Road (Rs. 3000 - 10000/sq.ft.), Rau (Rs. 600 - 1200/sq.ft.), Gulmohar Colony (Rs. 3500 - 6500/sq.ft.), Green Park Colony (Rs. 800 - 3500/sq.ft.).

. Nashik: Nashik is displaying an increasingly buoyant industrial scenario, with considerable growth expected in the IT/ITES industry. Overall infrastructure and connectivity Mumbai and other regional towns is improving rapidly, lending increased credibility to Nashik's real estate market. It is a vertex of the Pune-Mumbai-Nashik Urban Golden Triangle.

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Friday, January 30, 2009

International Trade Park( World Trade Park (WTP))to Redefine Jaipur Real Estate

Jaipur real estate will soon have a new milestone in the form of an international trade park, World Trade Park (WTP), to its credit. The project boasts of an eco-friendly office property with water and energy conservation techniques, automatic sensors for power saving, centrally air conditioned, wireless LAN and IT friendly environment.

The foundation stone for the World Trade Park, a business-cum-shopping centre was laid in 2005. Established by RF Properties and Trading Pvt Ltd, the park spreads over an area of 20,000 sq. yard. It has offices, a convention centre, retail outlets, exhibition halls, a five-star hotel, and a two-screen multiplex, trade lobbies, an art gallery and a computer-controlled parking for 1,100 vehicles.

The trading park is perceived as a nucleus of world trade in South Asia. It will provide Global Business amenities under one roof, further crafting Jaipur as the international trade capital of the country.

Project update

Commercial property market in Jaipur is being redefined with landmark constructions like the World Trade Park. The WTP is surrounded by posh shopping malls like The City Pulse, Crystal Mall, Crystal Palms and the Crystal Court. Other mega projects that are about to come up in Jaipur include, Mahindra World City project in collaboration with RIICO, which will be a multi-product Special Economic Zone. A film-city project worth Rs 1,900-crore on 1,000 acres in Jamdoli is also on the cards.

In March 2007, the State government, proposed a Science City in Jaipur to be developed with the International Convention Centre. A "Mini India" theme park on 50 acres sharing space with a golf course and a cricket academy is also there in the foresight.

Amid a number of forthcoming huge commercial projects the real estate in Jaipur is resolved to continue its vigorous upward trend. "With WTP playing a perfect escort in a new age world of trade and industry, it would help put Jaipur on the world map", property experts of Jaipur comment.

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Thursday, January 29, 2009

Dharavi's Profile in Mumbai Real Estate

Dharavi, the thriving 200-hectare of land in the heart of Mumbai, home to over a half million people, is one of Mumbai's prime properties.

With real estate values sky-high in Mumbai and a key commercial district on the cards in north of Dharavi; a multi-billion dollar redevelopment plan for this area is now up.

Booming economy

An annual business turnover of more than $650m (£350m) a year is what Dharavi's contribution to Indian economy is.

Dharavi has a hefty number of flourishing small-scale industries that manufacture embroidered garments, export quality leather goods, pottery and plastic. Most of these products are sold in domestic as well as international markets.

Apprehensive of impending redevelopment plans, residents have raised their concerns fearing uncertainty over the relocation of their small businesses in the informal sector.

The existing residents are believed to be shifted to apartment units. Mumbai is offering them an area of 225 sq.ft each in apartment blocks but there is no space allocated for their prolific enterprises, say media reports.

An 'affordable' alternative

Moreover in a city where house rents are among the highest in the world, Dharavi provides an economical and affordable option. As Dharavi is situated between Mumbai's two main suburban rail lines, majority of people find it convenient for work.

According to industry sources, rents here can be as low as 185 rupees ($4/£2.20) per month.

Future Outlook

Dharavi's location has made it a hot property in Mumbai Real Estate. The redevelopment project is estimated to cost $2.1bn (£1.1bn) but intended for a city that personifies India's hopes of becoming an economic competitor to China this costs zilch.

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Tuesday, January 27, 2009

New Horizons of Lucknow Properties

Rapid growth of real estate in Lucknow has changed the demographical scenario of the city as well. Being an old city there is not much space left in the core city for further development. Therefore, Lucknow real estate builders are now shifting focus and launching their projects especially in the outskirts of the city.

The transformation of Lucknow real estate market can further be accredited to the surge of construction activity primarily in the residential sector. Lucknow real estate developers are coming up with number of township projects on the outskirt of the city.

One such project by Sahara City Homes is in full swing and the possession of property will begin in the year 2009. A total of 30 blocks are under construction. These 30 blocks will house 1620 residential units. The construction of other blocks will commence by the end of this quarter. This project is spread into 175 acre on Hardoi Road.

Besides, Eldeco is developing a 200 acre project, called Eldeco Town on Sitapur road. The range of these apartments is between Rs 20 - Rs 50 Lakhs. Other national builders like Omaxe, Ansals, Parasvnath, Rohtas are also developing their residential project in the suburb of the Lucknow.

The localities of Gomti nagar, Mahanagar, Janakipuram and Indiranagar have now developed as the new residential centers. To buy a 3 BHK (1775 sq ft) apartment in Gomti nagar, Lucknow one has to shell out around Rs 35 Lakhs. The rent in Gomti nagar is about Rs 10,000-14,000 per month. On the other hand, the capital value of a builder floor apartment in the Aliganj and Jankipuram ranges around Rs 25 Lakhs for a 1000 sq ft area. The rental value in Aliganj is approx Rs 9,000 per month and it varies according to size and floor of the apartment unit.

During the past few years, the real estate graph of the city has grown manifolds. Biotech and IT are the two focus areas to promote economic development in and around the city. According to Lucknow real estate agents, the increased employment opportunities and good salary packages has created an added demand for Lucknow Properties.

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Affordable Housing - Call of the Day

Delhi real estate builders affirm that, the recent slump in real estate might have put a dent in the property market but the demand for Delhi properties remains promising. Rising property prices may have cut down on the actual transactions but there are a lot of interested buyers in the city.

The industry data reveals that, at present there is a huge demand supply mismatch in the price category of below Rs 40 lakhs and below Rs 75 lakhs where demand outstrips supply. There is excess supply in the price band of above Rs 75 lakhs and the demand for the same is low.

For long the builders are launching premium housing projects. As a result the available properties are coming at higher per unit price. There is demand-supply mismatch and also divide between what people want and what they are getting.

With a view to tackle the difficult times in realty sector Delhi Real Estate Developers are changing tracks. Sighting the fact that thee is very little supply in the affordable home category, the developers are now coming up with low cost houses.

Also, as Delhi Development Authority’s plans to release around 6000 flats which will cater to the lower price segment, private developers in the capital are also forced to change their policy. According to Delhi real estate agents, "developers mean business and they have observed a growing demand for low cost housing units, hence are coming up with costumer-conducive schemes.

Renowned realty major Unitech, recently tailored the offerings in its premium property Nirvana Country so that it appeals to masses rather a particular section of society. The independent floors now start from Rs 40 lakhs, which earlier cost upwards of Rs 1.5 crore.

The salary packages haven’t moved as fast as the property prices. However, buying a home or an apartment in Delhi is a dream everyone nurtures. Besides, when there is supply and corresponding demand in the market builders see no way why they don’t modify there products. Moreover, to be in the business they have no other choice.

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Saturday, January 24, 2009

Apartments in Delhi - A Good Investment Option

Delhi is the national capital and also one of the best destinations for investors to buy property. Delhi having an advantage of good connectivity with most of the cities in India houses the top most corporate houses in the world. The main upswing of construction activities is going on in New Delhi, with number of residential as well commercial spaces being developed by prominent real estate developers.

DDA has drawn up several plans for next two years including mega housing project in Dwarka, Bio-diversity Park housing over 5,000 species of flora and fauna along the Yamuna banks, a spiritual garden forming a link between South Delhi's three major temples in Kalkaji.

Ansal Properties is all set to carve a substantial niche for itself in Delhi with its real estate projects: Ansals Sushant City and Valley View Estate. Being the IT hub of India, Delhi proves to be the center for real estate transactions in the country.

With the increasing influx of students and tourists in the city, Delhi Real Estate Developers have started coming up with the idea of service apartments a concept borrowed from the West. The service apartments in Delhi are fully furnished and provide a nice staying experience in Delhi. They are are becoming very popular amongst these international tourists and students as they are cheaper than the hotels and give them a nice, secured homely experience.

With unavailability of land in rest of Delhi, Dwarka has become apparent choice for real estate developers in Delhi for constructing apartments. Investors are readily interested in buying apartments in Delhi as the rental values have also sky rocketed in the past few months. Moreover, with growing crime rates people are very all these apartments.

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Friday, January 23, 2009

Chennai Real Estate - It's a Consumer's Market

Undergoing the period of correction for the past 6-months, Chennai real estate markets have finally started to stabilize, however the demand curve is still observed moving horizontally. As per industry reports, the city absorbed a meager 13 per cent of the total supply of the residential space in the past quarter.

Chennai real estate received fresh additions of 3.4 million sq. ft of housing in the past quarter although a meager 0.47 million sq. ft of space was absorbed, studies point out.

Now that the prime banks like SBI, HDFC and ICICI have cut the interest rates on home loans, the markets are likely to catch up and real estate developers expect good time ahead this winter season.

Impact on prices

According to the Chennai based professionals, capital values in the residential real estate in Chennai had reached staggering levels that in fact were termed as unrealistic by buyers.

But now prices are almost down by 20 per cent, says R Ajay of Tirupati Real Estates. "But you cannot actually gauge that whether price corrections are spiking demand or not. Most of the new projects in the property markets of Chennai are actually making an oversupply and there is no junction between the volume of demand and supply," he adds.

Meanwhile, the prices of residential units in the sub-urban areas have moderated at the levels of Rs 2,500-4,000 per sq. ft, after peaking at Rs 5,000-Rs 6,000. The basic notion behind development of sub-urbs is generally low price range and if this factor escalates, there is no point people will consider buying properties in sub-urbs, Professor Raghu Aiyar commented.

Also, the investors who were expecting instant returns of 25-30 per cent on their property investment in Chennai are at tenterhooks, as the markets have been gradually shedding off all the speculative tendencies.


It's a consumer's market. Chennai Real Estate will add as many as 25,000 apartments in the next 12-24 months, from more than a dozen of townships alone and construction of standalone apartment buildings will further accumulate over the total additions.

In this scenario, the supply side would outstrip demand curve and of course, property sellers and developers have to downscale their margin expectations, say market analysts.

George Gonigal provides you the best and latest info on India Real Estate. If you want to Buy Apartment in Chennai George Gonigal suggests that you visit

Thursday, January 22, 2009

Chandigarh Real Estate - More Investments, Few Takers

Chandigarh real estate is witnessing testing times. On one hand, there are more investments pouring in the segment and on the other side property buyers and sellers are not very enthusiastic about property transactions.

The overall, economic recession has caused stagnation in the country's real estate segment. Chandigarh's property segment, too, is witnessing a similar trend. Property brokers in Chandigarh say that real estate values have stagnated. Chandigarh Property prices for plots in suburban areas like Baltana and Kharar have stooped down to as much as Rs 100 - 200 per sq yard. This is almost 20% decline in prices when compared to corresponding quarter last year.

Property sellers in Chandigarh see this as a temporary phase and are holding on to their land assets. They hope that real estate prices will increase in next six months and this is when they will make profits. Property buyers, however, say that Chandigarh Property Prices are nominal still. They have few choices as there are not many sellers in the markets as of now.

Recent developments in Chandigarh's property segment are worth noticing. Delhi-based developer Parsvnath has bought 38% stake in Sabeer Bhatia's Nano City Project. Nano City is a commercial and residential project in Chandigarh and will be completed by 2010. Market sources say that Bhatia is already scouting IT clients to open offices in his Nano City. This will bring more employment, and thus many more property users and home seekers to Chandigarh.

For now, one will have to wait and watch. Property market is expected to be buoyant in some months. This may be a breather for investors who have put their money in properties at Chandigarh.

George Gonigal provides you the best and latest information on Chandigarh Property Prices, If you want to get India Real Estate News, he suggests you log on to Magicbricks.

Wednesday, January 21, 2009

Chennai Real Estate - Victim of Market Slump

Real estate in Chennai is on the verge of a crashing market, believes industry experts. Chennai property prices have seen an escalation of almost 200 per cent in the last few years. But with the global slump in the real estate industry, Chennai real estate has also slowed down.

Number of Chennai real estate developers has been able sold only a few of their properties in the last quarter. R Mohanty, real estate agent from Chennai states, "The residential real estate prices in Chennai have grown by leaps and bounds making it difficult for buyers to purchase a home in the city. The increased loan rates have now made it worse. Though the prices are witnessing correction people are awaiting the market to further stabilize."

Research reveals that there has been a 90 per cent drop in demand for residential projects since the start of the year.

Notably, Old Mahabalipuram Road, the hottest real estate destination in Chennai is also loosing pace. Cursing the fading effect of the place on lack of infrastructure facilities, Chennai real estate agents say there have been only a few transactions in the area for quite sometime.

The commercial sector is also witnessing a downfall. The Central Business District in Chennai has seen a 15 per cent drop, media reports.

IT companies largely drive the demand for Chennai properties but due to the current market recession many companies have postponed their expansion plans. As a result supply of office space in the city has exceeded demand. Huge chunks of office space are lying unoccupied. Subsequently, Chennai real estate builders are now waiting to launch their projects.

Besides global recession, inflation, the rising home loan rates and increasing input costs have also resulted in slump in property transactions in Chennai. Realtors in Chennai are struggling to sell properties. Though price correction is taking place in Chennai Real Estate sector but realty experts predict that the market will bounce back.

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Monday, January 19, 2009

Gurgaon Real Estate - Slump Continues

Gurgaon properties have seen a vital growth in the city's development, thanks to Gurgaon real estate builders. The DLF Group is one of the foremost real estate development companies of India that have majorly contributed in the development of Gurgaon. The company is widely known for the development of both commercial and residential projects in Gurgaon.

However, the Gurgaon real estate developers are also facing a certain challenge like their counterparts in other parts of the country. Those economic drivers that form the basic spinal chord for running the property business, are facing a downward trend. This is the major reason currently that has further resulted in pushing down the demands for buying of property.

The current trends disclose that there is apparently a clear drop in the interest of property purchase by the end users. There seems to be no sign of recovery at least for the next one year, claims a local broker based out of Gurgaon. This is the reason why real estate in Gurgaon is undergoing a lull.

According to a market survey, more than one-third of the residential units in the newly constructed projects in Gurgaon are lying vacant. However, the Gurgaon Real Estate Developers do not disclose this fact to dissuade the buyers.

But the positive side is that all those who are really interested in buying property in Gurgaon can go ahead and negotiate with the real estate agents at Gurgaon.A lot will depend on your negotiating skills is so go ahead and take a chance. Gurgaon properties are waiting of you.

Points to Remember While Buying a Pre-Owned House

Be it a new house or a pre-owned house one need to be careful and vigilant before finalizing a deal. Pre-owned houses have negotiable and wide range of price options to choose from. They have established infrastructure facilities - physical and social. Plus, they are ready-to-move-in homes, complete with basic furnishing. One can opt for a pre-owned home on the basis of individual and family requirement and the budget.

Money, location, appreciation, transport and connectivity, accessibility, cash in hand and mortgage options are all important factors of the process. Pre-owned houses are generally ideal for people who have an immediate requirement of a home to reside in.

Beside location and neighborhood, it is important to consider architectural design when buying a pre-owned home. Take into account the quality of construction of the property. Read the floor plan and assess the quality of paint, furnishing, fixtures and material of walls, ceiling and flooring used in the house. Parking facility is the other key area needs to be checked on before buying a house.

Always choose a house which not only suits your pocket but also that holds value in the long run and has a good value-appreciation rate.

One of the most important points is drainage. It doesn't seem so important but can define the value and livability of a house. Do make sure that the house and the locality has a proper and well-maintained drainage system. This ensures no water logging during monsoon.

Apart from these don't forget to keep a check of all the documents that you need while buying for example registry, transfer deeds, power of attorney etc. Make sure that there are no pending bills of the house and all installments and dues are paid on time. Also do some inquiry regarding the history of house, all this is extremely important and ensures a wise investment.

George Gonigal provides you the best and latest info on Indian Real Estate and India Property. He would also let you know where to Rent Flats in India.

Thursday, January 15, 2009

Impact of Delhi Metro Rail on Delhi NCR Real Estate Market

The Mass Rapid Transport System (MRTS)—Metro Rail—has done wonders for Delhi real estate markets. The consequences are duly reaching the entire National Capital Region (NCR) and Ghaziabad is no exception. The following article in Times Property by Brix Research explores more.

With the metro connecting Delhi’s far-off areas the city’s active real estate market is blazing. In its third phase, metro is expected to reach Ghaziabad and will also be entering NOIDA and Gurgaon shortly. Under the metro route planned for Ghaziabad, it will be linked from Anand Vihar to Vaishali navigate Kaushambi.

Bordering Delhi on its east, Ghaziabad is rapidly emerging as the residential hub for IT professionals working in NOIDA and Delhi. It is emerging as the next popular address for Delhi-bound commuters.

Growth Drivers

The city of Ghaziabad is developing rather fast. Recently, the International Institute for Environment and Development, a UK-based policy research non-governmental body, ranked Ghaziabad as third fastest growing city of India. As per its reports, the city clocked an average annual growth rate of 9.28 per cent since year 2000.

Large commercial developments in NOIDA are encouraging builders to come up with residential units along the National Highway – 24 leading to Hapur, and along national Highway – 58, leading to Meerut.

More and more real estate developers are turning to Ghaziabad for launching their projects, both commercial and residential. Parsvnath, Omaxe, Suncity, DLF have already rooted their presence in the Ghaziabad real estate sector and other realty majors are eyeing the Ghaziabad real estate market with much anticipation.

Furthermore, development of city’s commercial sector is influencing the growth of residential property of Ghaziabad. Many of the MNCs, banking and insurance companies are rapidly setting up their operations in the city thereby accelerating the developments on the commercial front, with lots of investment coming in.

What’s more, the city is comparatively pollution free and is known for the best parks in the National Capital Region. There is Ram Manohar Lohia Park in Rajendra Nagar which is spread over a large area of 40 acres and the 25-acre Swarna Jayanti Park in Indirapuram.

Residential property values

Real estate brokers expect the property values in Ghaziabad to skyrocket once the metro plans come to fruition however the picture for the next 2-3 years is likely to remain dicey, as the project is scheduled to complete in 2009.

Sudhir Singh, a broker operating in Ghaziabad says, “There is going to be a sound increase in the prices owing to the benefits that will be there once the metro ventures in.” He adds, “The Metro has altered the complete look of Delhi with property prices registering a record high, we expect similar kind of a breakthrough in the Ghaziabad real estate market as well.”

Though, Ghaziabad real estate is holding back for the time being, A Khurana, real estate agent from Ghaziabad revealed that “the markets have shown uniformity in capital values driven by sluggish demand and adequate supply of new units.”

However, that is for a short period of time as with proposed infrastructure developments and upcoming common wealth games Ghaziabad real estate will be touching new altitudes of success, say industry sources.

Future Outlook

Beside, extension of the Delhi Metro, provision of good quality infrastructural facilities and construction of flyovers and widening of national highways are other reasons for the blooming real estate market in Ghaziabad.

13 flyovers and two under bridges are on the agenda to come up shortly in Ghaziabad. Construction on the Mohan Nagar flyover and the old bus stand crossing flyover has already started.

The former will be built at a cost of Rs 13.12 crore and will be completed in six months' time while the latter will be finished at a cost of Rs 10 crore in about 18 months' time, say media reports.

They will help in reducing the traffic congestion, leading to an increase in value of land.

Ghaziabad is poised to be one the fastest growing real estate destinations in the NCR, mainly because of its proximity to the site of the Commonwealth Games.

Infrastructure major Punj Lloyd has signed a MoU with Delhi-based real estate developer Ramprastha Group for developing multi-storied residential housing projects.

The first such project will be developed at Vaishali in Ghaziabad over approximately 29 acres in a fifty-fifty joint venture. The proposed projects of the venture form part of an integrated gated township. The development will consist of residential units by and large.

The Ramprastha Group has developed three townships, spread over 100 acres each, in Ghaziabad, comprising plotting, group housing, dwelling units and commercial projects.

Nonetheless, in lieu of systematic developments taking place in Ghaziabad, coming up of the express highway, enhanced connectivity and an international airport will give the requisite push to the real estate market of the city. According to media reports, there could be 200 per cent appreciation in Ghaziabad real estate prices by 2011.

Ghaziabad is heading towards rapid growth and witnessing dramatic changes in recent times.

Meanwhile, for those who are looking for good investment options, in both commercial and residential sectors, lofty returns and quality lifestyle in NCR, Ghaziabad has emerged as the ideal destination; say city-based real estate professionals.