Property consultant Knight Frank expects further correction in home prices in India. Their recent report suggest that since the volumes of property transactions are going down, hence the asking price for property will also go down. Additionally, over-supply of property is posing as a major reason for the slow down in Real Estate prices.
Recent media reports have also suggested the same trend. Reports suggest that Real Estate Prices in Mumbai, Bangalore, Pune, and National Capital Region have corrected 15-20% in the first quarter of this year. Market-watchers say that this trend will be repeated across the Tier II cities and suburbs too. No wonder property developers are wooing prospective users with all sorts of offers. Some are even offering lower EMIs for flats while some are offering goodies like cars along with property. Still others are wavering off the stamp duty prices.
Are the property prices coming down in your area? Is the property slow down really impacting the end user in a major way? Should the home seekers cheer for some reasons? Is there a possibility of a market dive? Or is this a temporary phase in the housing segment?
Friday, May 23, 2008
Hyderabad to Out-Shine Bangalore as IT hub?
The Nizam's city - Hyderabad - is set to become Cyberabad now. The city's hit-tech airport has added sheen to its developing infrastructure and the Real Estate segment.
Property rates for residential space in the city centre range between Rs 2,200 - 4,500 per sq ft. The capital value for commercial property range between Rs 25,000 - 60,000 per sq yard. Home seekers are now flocking to the city suburbs where the residential space comes for Rs 1,600 - 4,000 per sq ft.
Recently, the Hyderbad Urban Development Authority (HUDA) announced its plans to develop an expressway in the city's outer circle to facilitate transport to these areas. This means, that the infrastructure and real estate segments of the city's suburbs will get a boost. Sensing this boost in development, IT companies like Wipro, TCS, HCL have already established their bases in Hyderabad.
Will all these developments dampen the commercial prospects of Bangalore? Property Prices in Bangalore are way much higher than Hyderabad. Now, when Hyderabad is offering world-class infrastructure, will Bangalore’s popularity as IT destination face a set-back?
Property rates for residential space in the city centre range between Rs 2,200 - 4,500 per sq ft. The capital value for commercial property range between Rs 25,000 - 60,000 per sq yard. Home seekers are now flocking to the city suburbs where the residential space comes for Rs 1,600 - 4,000 per sq ft.
Recently, the Hyderbad Urban Development Authority (HUDA) announced its plans to develop an expressway in the city's outer circle to facilitate transport to these areas. This means, that the infrastructure and real estate segments of the city's suburbs will get a boost. Sensing this boost in development, IT companies like Wipro, TCS, HCL have already established their bases in Hyderabad.
Will all these developments dampen the commercial prospects of Bangalore? Property Prices in Bangalore are way much higher than Hyderabad. Now, when Hyderabad is offering world-class infrastructure, will Bangalore’s popularity as IT destination face a set-back?
Friday, May 9, 2008
Bad is Good
There is nothing either good or bad but thinking makes it so. People may have taken this statement as just another philosophical quote from Shakespeare but there exists many who have taken it as a way of life.
How can you think of buying properties when entire world is predicting stages of depression? Yes, there is a whole class of people who believe that this is the right time to buy real estate. Many parts of the US have been witnessing unusual property buying activities, after the sub-prime crisis. Similar are the trends in England, the second most affected market. According to experts, the reports of slowdown in Indian Real Estate markets are also drawing attention of investors who have been vying for entering into the country at an appropriate time.
How can you think of buying properties when entire world is predicting stages of depression? Yes, there is a whole class of people who believe that this is the right time to buy real estate. Many parts of the US have been witnessing unusual property buying activities, after the sub-prime crisis. Similar are the trends in England, the second most affected market. According to experts, the reports of slowdown in Indian Real Estate markets are also drawing attention of investors who have been vying for entering into the country at an appropriate time.
Sunday, May 4, 2008
Namaste London
After Canada and Dubai, London has become one of the most potential overseas markets for Indian real estate developers. Just look at the response the Non Resident Indian (NRI) segment has been showering over the India-focused property fairs.
Recently, more than 4,000 NRIs flocked the property fair organised by magicbricks.com in London. Sources say that the response was so phenomenal that the developers expect to close deals worth Rs 100 crore in the near future….
Recently, more than 4,000 NRIs flocked the property fair organised by magicbricks.com in London. Sources say that the response was so phenomenal that the developers expect to close deals worth Rs 100 crore in the near future….
Time to Buy Property in Gurgaon
Did you want to buy residential property in Gurgaon but kept on postponing your plans due to soaring real estate prices? If yes, there is a good news for you…
Property prices in Gurgaon have stabilized. According to Real Estate Brokers, capital values have not shown any upward trend in the past one year. That's why, people who were not in a position to time the markets earlier are now stepping forward.
To keep the balling rolling, the real estate developers have also been tuning their marketing plans as per the trends…
Property prices in Gurgaon have stabilized. According to Real Estate Brokers, capital values have not shown any upward trend in the past one year. That's why, people who were not in a position to time the markets earlier are now stepping forward.
To keep the balling rolling, the real estate developers have also been tuning their marketing plans as per the trends…
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