Impact of property price slump in Delhi

It has always been a dream for any prospective home buyer to own a residential property in India’s capital – Delhi. For many years, property developers had a great control over the real estate market in the capital city. The pricing was more when compared to other parts of the country and in spite of it there was a great demand. But the whole situation has turned upside down now.  Fortunately or unfortunately, there are more residential units waiting to be occupied in the capital city. This is because neither the property developers are willing to bring down their selling prices nor the home buyers are willing to pay the asking values. As a result, Delhi real estate has reached a stalemate situation as no transaction is taking place. 
To ease the situation, either the government is expected to take an initiative to increase the confidence of the home buyers or the sellers expected to relax their stand and lower their selling prices. Since nothing is happening at the moment, the residential realty market in Delhi is beginning to crumble.

New project launches have dropped down to nearly sixty percent in the first half of this year itself while the sales of such properties have dropped down to a massive fifty percent during the same time period. The slump in new project launches and sales clearly points out the resistance of the buyers towards highly-priced and unappealingly priced units. According to recent reports, there are nearly one lakh eighty thousand unsold dwelling units in NCR alone and at this pace of sales it is expected to take nearly five years to sell them all. This demand-less situation has in fact driven property developers to look for ways to exhaust their present inventory in hand instead of constructing new ones and blocking their finances by investing on them.

NCR was an investor’s marketplace once upon a time when there were more takers even if the property developers hiked their property values artificially. With buyers becoming wary of making purchases instinctively, distressed sellers are providing discounts from twenty to thirty to percent to recover the money that has been blocked as apartments in Delhi. But this bait has not lured investors since they too do not want to invest their hard earned money in projects that are going to appreciate at a very slower pace. Many are even extra cautious to buy clean and non-controversial projects. Some of the suburbs where the values of flats for sale in Delhi have dropped include Dwarka, Mayur Vihar and NCR.

Since realty market drives the economy of the country, experts are of the view that the situation will ease soon.  The socio-politico scenario too is getting better with the rule of a stable government in place. In addition to it, the focus is more on infrastructure and land development that many believe that it would stimulate the demand. Increase in salaries and lower EMIs will be a reality in the near future whereby increasing the buying capacity of individuals too.

Independent house or apartment? Choice is yours

Given a plethora of choice, it is natural to get confused. Deciding between purchasing an independent house or apartment is one such case since they come in a variety of designs, layouts, facilities, budgets and sizes. Bangalore city even though thickly-packed with houses, villas and flats has never let down its residents when it comes to comfortable and peaceful accommodation.  It is easy to find a living space suitable for all, but it is you to make the pick the type of housing unit, in your preferred area.

Apartments in bangalore are highly sought after for various reasons. Security is one of the primary reasons that has influenced buyers to purchase flats in this city. Almost all apartments are guarded well by security personnel ensuring safety to the inmates at all times. This metro encourages community living where families share a community park, hall, children’s play area, jogging track, gym and many more. Inmates enjoy celebrating festivities of different customs in common and appreciate each other’s interests and hobbies. Children growing up in such social conditions learn more than one language that helps them do well in all spheres of life. When compared to independent houses, apartments come at a reasonable value even if located in a well-developed area; nearby schools, hospitals and colleges. Apartment occupants can also stay relieved from repairs if any that might arise during their occupancy period as the maintenance staff apointed by the building association attends to the problem and resolves in no time. Loans for such buildings can also be easily obtained without spending much effort and time as most of the constructors have tie-ups with leading banks. Buyers can even have their flat modified according to their needs if booked during the early stages of construction.

Independent houses have their own merits. Buyers have the freedom to make decisions at all levels of construction be it planning, interior and exterior designing or altering the structure at a later date. Pet lovers can raise their pets without  having to worrying about the displeasures of others. The same way the need to share a common wall with others will also be eliminated. Since land prices keep appreciating whereby increasing the value of the building, owners can stay assured of their investment fetching good returns if they chooses to sell the property at a future date. Independent house for sale in bangalore is a big hit espcially among gardening enthusiasts as it helps them unleash their creativity at its best while flats for sale in bangalore are favored by gregarious souls.
 

This is not all, there is another option too known as the ‘Villas’. These structures combines the benefits of both independent houses and apartments especially when it belongs to a gated community. Not only do they provide a secured living space with all desired amenities at a nominal value but also provide the much required flexibility of modifying or extending the living space. Certain projects even come inclusive of shopping malls and banks inside the campus that these types of villas are a big hit among affluent and elderly segment too.

The Real Estate Scenario in Sarjapur Road Bangalore

One of the fast-growing suburbs around Bangalore city is Sarjapur. Located in the south east of the city, this locality is now the hub of IT companies and manufacturing industries. The growth of IT and IT-based companies in this area has led to the spurt of development of residential flats and apartments. This is because most of the people who come to work in these companies are not natives of this city, but come from all over the country. So, all of them are looking for hostels, PGs, and houses for rent. They prefer to look for a place that is close to their company as it reduces the daily commute. Moreover, the cost of living in this suburban area is less compared to living in the city.

Let’s take a detailed look at the real estate scenario in Sarjapur Road Bangalore. If you are looking at the availability of commercial space, Sarjapur has plenty to offer. There are ample number of Grade A offices suitable for large companies. Plus, there are many commercial building projects in the pipeline. The biggest advantage for real estate development in Sarjapur is that there a lot of space to move. Buildings, either residential or commercial, cannot be constructed unless there is space. With the spaces in the city and the other suburban areas slowly filling up to the brim, the overflow is gradually moving towards Sarjapur road.

IT companies like Cisco, Wipro, HP, Cape Gemini, Accenture and Infosys have their offices in this locality. These companies have brought with them an influx of new residents. There are nearly 2 lakh employees working in these companies. So, there is a demand for 1 BHK and 2 BHK homes in this area. The emergence of the residential areas have also led to the growth of hospitals, malls, shops, banks, ATMs and other types of commercial establishments.

As the property values in this area is affordable when compared to the other parts of the city, many of the employees are even purchasing property instead of just going for rent. Taking into fact that Sarjapur has a sharp appreciation value, investors are confident that they will get good returns on their investment.

Connectivity is one of the most important reasons for the development of this locality. Located on the Outer Ring Road, Sarjapur can be easily accessed from the city or other suburban areas. Plus, it is easy to travel to Kolar, Hoskote, and Hosur (to Tamilnadu) via the National Highways. So people who have come from other states or other parts of the state find it easy to travel to their home town.

Statistically if you check the real estate in Sarjapur, you will note that it has seen an appreciation of nearly 7 percent over the last year. The property value has also been steadily increasing over the years. On the whole, the real estate scenario in property in Sarjapur Road Bangalore looks promising. With many construction projects in the pipeline and the development of the IT clusters, this place is sure to develop further in the coming years.

Booming news for buyers - Price drop of properties in South Chennai

For people living in South Chennai who are looking for investing in real estate this is the prime time. With the recent drop in prices the cost of real estate has really climbed down making it the opportune moment for people who want to invest in the market. The government’s new policies have made buying property a lot easier. Now you will not have to go through all the complicated paper work but you can get the process started and get your dream apartment in a seamless process.

Why you should invest in real estate

The city is still growing and most of the development is happening on the south section of the city. The major education institutions are located in the close vicinity and this makes south Chennai one of the best places to live in. In terms of living standards, the city ranks as one of the top cities of the country. The city has been going through a sharp rise in property market for the last decades. This is the first time that the place has seen such drastic drop in property market. This is mainly due to the new policies of the state government. A lot of new housing complexes are coming up in the recent months and that has also helped in pushing the price down because of the competitions. You can get the best deal if you by an apartment in one of these housing complexes because they come with all the modern amenities and luxuries. Due to the increase in the competition the developers are selling the apartments and other similar property at a much lower rates than normal. You will be able to get a flat with all the luxuries like swimming pool, gym and other similar facilities and it will be perfectly within your budget. Depending on how much you are willing to shell out, you can also get studio apartments and low budget apartments.

Things to look out for

When you are going to invest in some real estate in and around South Chennai you will have to be careful in some areas. You will have to find out how well connected the place is. There are many different modes of transportations that are available in the city and the metro link is one of the major mode of transport. So places in around the metro stations are priced much higher than the rest of the places but even the price drop has affected the price of these regions so you will be able to get a place without much hassle.

You will also have to talk with the previous owner if you are buying a secondhand property in chennai and find out if there are any kind of problems associated with the infrastructure. For buying a brand new apartment you will have to talk with the developer and find out all about the facilities that are available. Depending on the location you can get a very good deal if you decide to purchase now.

Devanahalli-One airport and a whole lot of development

Rewind back to 2000 or an earlier year and you would not have wanted to live in Devanahalli. It was a typical peasant’s neighbourhood where roads never existed and water scarcity was always rampant. But times change, especially in real estate they change at the speed of light. That is what happened with the property prices in Devanahalli when the Kempegwoda International airport commenced operations in 2008. One airport and Devanahalli has made itself amply visible in India’s fastest growing IT city, Bangalore.

Reaching Devanahalli

Devanahalli is located on the northern part of Bangalore, almost 35 Kms from city centre. Quick way to reach is through the NH 47, also known as the Bangalore-Hyderabad Highway or the Bellary Road. Further, NH 7 and 207 also snail through this village bring the metro close like neighbourhood.

NH 7 from Hebbal to Devanahalli with its 6 lanes roads (to be increased further in the near future) makes it possible to reach the airport within thirty to forty minutes. With the execution of the metro Phase 2 plan, Devanahalli will also have metro connectivity to airport.

Devanahalli’s growth story

The land rush at Devanahalli began with the signing of the MoU between AAI and KSIIDC in 2005 to build the Kempegowda International airport. By the time the first phase was completed in 2008, almost every inch of land in Devanahalli was taken over by real estate promoters and developers for manifold times of the original prices.

Per acre cost of Devanahalli was a humble number in 1990s. Come 2008, the price shot up to Rs. 250/sq.ft and today it is almost 1500/sq.ft. Most promoters are yet to commence construction here, but it is definite that the prices will skyrocket further higher.

Residential and industrial development

The many industrial parks present in Devanahalli are sure to boost the residential and commercial development in the region. Three more parks exclusively for hardware, aerospace and IT/BT are proposed in the region which will boost residential development and industrial activities in the region. NH 7, NH 207 and NH 4 will provide ample road connectivity without any traffic bottlenecks.

250 acres of land are set aside for developing the M.S.Ramaiah Medical Research Centre to cater to the educational requirements of the city as a whole. Schools, colleges and other social infrastructure facilities necessary for comfortable living are also adequately present in Devanahalli.

Housing at its best

Bangalore enjoys a high concentration of HNIs (High Net worth Individuals). Devanahalli also enjoys huge demand for high-end living facilities from the senior management cadre employees of the IT industrial corridor. With sophisticated tastes and an appreciation for serene living they are one reason why the land values in Devanahalli has shot up in such short time.

The demand for affordable housing is also very high. Patel Neo Town, VBHC Attibele, Sovereign Lakefront, Provident Welworth are some of the affordable residential projects in the region. Golden Gate Properties, Purvankara, Shriram Properties, Brigade Group, Ozone Group, etc. are some of the high flying names in luxury housing that are creating the upper class living ambiance in Devanahalli.

The right time to invest in Devanahalli is now. There was no better time in history or will there be in the future when property prices have been so inviting for an aspiring homeowner.



Pratheepa writes for indiaproperty.com, a leading online portal dedicated for real estate sector in the country. It provides property marketing solutions for buyers, seller, and real estate agents.

Real estate prices shoots up high at Mumbai Virar

Virar is a part of the Mumbai Metropolitan Region and Vasai-Virar Municipal Corporation. The exorbitantly high prices of properties in Mumbai city as made real estate boom in the suburban regions. The northern suburbs such as Virar, Vasai and Nalasapora has marked several residential investment in recent days owing to the affordable process of properties in these areas. For middle-class people who need to spend a large investment to buy an apartment in Mumbai city, 

Virar and other suburbs offer 1 and 2 BHK apartments at affordable ranges. But as the demand for housing have become very high in recent days, the property prices in Virar is also witnessing a considerable amount of hike in recent days.

With a huge residential demand and developing infrastructure, Virar is expected to be the future investment destination near Mumbai. The Vasai-Virar region is seeing tremendous economic and infrastructural growth in recent days and if this development continues, then surely this region has the potential to become a city on its own. The real estate in Virar is also developing in all spheres including residential commercial building. For those who wish to buy an apartment in a pollution-free locality away from hustle and bustle of Mumbai city without sacrificing on modern lifestyle, Virar is an ideal bet.

Several new proposed projects such as 126-km Virar-Alibaug multi-modal corridor project by the MMRDA connecting the regions by road and by metro, changing the existing internal road into a four-lane road, elevated rail corridor between Churchgate and Virar, and many more in pipeline contribute to the rising realty prices in Virar region. Virar also has various educational institutions, restaurants, shopping complexes, and beach resorts.

The prices of properties in Virar is moving in an upward direction in the price chart constantly. The prices of property in Virar has shown a rise of up to 10% in just one year of time. Also it expected to rise further in the coming months due to high demand form the population. When you compare the property prices in Virar in the last five years, you can visibly notice a constant increase with year from the previous years. The prices have rose not just from one year to the other, but also within each quarter of the same year at least by a small percentage. This clearly shows that realty prices in Virar has been increasing for off late and this price trend will continue in coming years as well. So if you are planning to buy a property or apartments in Virar, this is the right time to invest. Because in another 1 year of time, the property prices may increase another 10% fetching high return of interest for people who have invested this year.

Real estate investment in Kondapur and Miyapur

The real estate market in Hyderabad is catching up pace providing tough competition to other metros in the South. Many corporates and real estate investors are interested in investing in Hyderabad quite some time now. The main reason behind the revival of real estate in Hyderabad is that both commercial and residential real estate is economical in Hyderabad, which lures investors and buyers. The residential capital value here is lesser than that of other metros. With several already existing IT corridors along with several other IT giants to set up their campus in and around Hyderabad, the real estate here is gaining momentum. Many suburban area of Hyderabad are now flourishing in both residential and commercial real estate such as Kondapur, Miyapur, Gachibowli, Kukatpally and Manikonda.

Real estate in Kondapur

If you are looking for affordable properties with a good appreciation and return of interest, then Kondapur in Hyderabad will be a wise choice. It is emerging as a popular residential hub in Hyderabad. Located closely to the busy business districts of Hitech City and Gachibowli, Kondapur micro market is turning into the most preferred investment destination.

Kondapur is located in between three major roads Old Mumbai Road, Gachibowli-Miyapur Road and Hitech City Road making it easily accessible from various parts of Hyderabad. It is also bridged to the Mumbai Highway via Gachibowli-Miyapur Road. The nearest railway station is the Hitech City railway station, which is about 7 km away from Kondapur. Its infrastructural development is also satisfactory with various reputed schools, international schools, colleges, hospitals, banks, shopping centres, and entertainment with various parks and botanical garden.

The residential capital value of Kondapur ranges between Rs.2500 to Rs.3800. Kondapur also yields high rental values when compared to its neighbouring localities. 

Real estate in Miyapur

Miyapur is a part of the municipal corporation of Greater Hyderabad. For people who search for modern lifestyle outside the city limits or in suburbs, Miyapur is an ideal location. It is a scarcely populated area with moderate amenities. But its close proximity to the IT corridor in Hitec City makes it an ideal investment destination for professional population working in the nearby IT companies. From plotted developments to large attractive apartments, Miyapur provides all sorts of investment options to buyers. Talking about the social infrastructure, Miyapur has a good number of schools, hospital, banks, shopping centres and restaurants. So ideally people who work in nearby IT and public sector industries prefer to buy plots or apartments for sale in Miyapur.

It is also well connected to other regions in Hyderabad by public transports and also has the Hafeezpet railway station at just 3 kilometres away. Moreover people in this region does not face any water scarcity or electricity issues.

Affordable prices of apartments in Miyapur have also made it a wise choice among the population. You can buy a 2 or 3 BHK apartment for Rs 30 to 45 lakhs with capital values ranging from Rs. 2600 to 3800, which is very reasonable when compared to other suburbs of Hyderabad.