The growth of property market in Virar-Mumbai

Any locality whose property prices see over a 100% growth in less than a decade can be termed as a stellar place for returns on investment! The shrinking availability of space in the mainland of Mumbai in the last 6 years or so, builders and developers have been forced to look elsewhere and Virar has been their go to destination!

Geography:

While on the lookout for new realty destinations for developing apartments in Mumbai, Virar has caught the fancy of many top property builders. It is termed as the town of the future by property experts in the city. Situated close to Vasai and surrounded by other suburbs like Dahisar, Tokare, Arnala and Nalasopara East, the town falls under the district of Palghar. The area available is huge; over 100 square kms of land!

Future prospects:

With Mumbai turning out to be empty handed, there is a desperate requirement for fresher, cheaper rural towns which can take up the population of the region. This is how a place like Virar has profited. It has a well-planned connectivity with the other parts of the city, making it a real prospect for the future.

Inside of this arranging is the Virar-Alibaug Corridor Project. The undertaking has a twofold objective – firstly to unite the two towns by road, and furthermore by the metro. While the time period for this is year 2031, it is bound to happen slow, yet steady! The other arrangement is to have the monorail running in the middle of Virar and Chikhaldongri. The Rs 600-crore plan will cover the Virar-Chikhaldongri line in a couple of years or so!

Social infrastructure:

Though underrated, the area is not too bad for what is primarily going to be a residential destination for many investors. Though the area might not boast of many Malls and other hi-tech facilities, it more than makes up for all that with the coastal feel to the region! The beaches are an added advantage and the number of resorts dotting the coastline makes for a great way to unwind on a holiday than jostling through the hustle and bustle of a mall.

There are a few amusement parks too which break the monotony of activities. A few heritage spots like the famous forts of Arnala and Vasai make it interesting for those who like a mini trek. The locality is also known for a number of lakes that are present - Achole Lake, Nirmal Lake, Bhuigoan Hill Lake, Nandakhal Lake, Gassa Lake, Gorlai Lake and Varmala Lake all make for a good vacation spot for families.

Financial Gain:

Let’s face it Virar might not be the primary residential destination for many Mumbaikars. But, the possibility of buying a house here and renting it out for income is a smart move! Localities like Dahisar in Virar offer good deals on rent with 2 bhk apartments in Virar fetching as much as 20,000 INR a month on rent alone! So, go ahead and pick out an apartment in the hottest upcoming locality of Mumbai and be pleased!

Author Bio:

Shailja is an Indian housewife who loves to write on Real Estate. She is a regular contributor to the columns of many property magazines and also IndiaProperty.com

 

 

Steady growth of real estate in Ghaziabad

Called as the “Gateway of Uttar Pradesh”, Ghaziabad is the fastest growing city of the country. It is a planned industrial city, which is complete with well-connected roads and railways. With a developed infrastructure, educational institutions and health centres, Ghaziabad is a perfect place to live in. With so many housing clusters such as Indirapuram, Vaishali, Vasundhara and Kaushambi, Ghaziabad provides affordable housing for its people. There are several new projects coming up in these areas that cater to both middle income group of people and high income group of people.

The major realty growth in Ghaziabad is mainly contributed by the NH-24 and NH 58, which are gaining popularity for residential properties in Ghaziabad. As the locations around these highways are located near to Delhi and also has various infrastructural developments, they boost the real estate of Ghaziabad. Also the availability of flats in Ghaziabad at affordable prices have attracted potential buyers to it. Both residential and commercial development happens mainly near these two highways. In short you can say only NH24 and NH-58 helps in keeping the Ghaziabad real estate in peak.

The Metro line that runs in Vaishali at Arthala has made a positive impact in its real estate... Also the multilateral flyover at Ghazipur Chowk, a flyover at Mohan Nagar Chowk connecting NH-58 and a link road connecting NH-58 to the residential zone at Raj Nagar Extension all offer easy and convenient connectivity between different localities of the city making people to invest in any of these areas without the fear of accessibility. With a launch of several new projects in NH-24 and NH-58, these area came into prominence in real estate in Ghaziabad.

Located in close proximity to Delhi, Ghaziabad has a mixture of people from different culture and classes that help in increasing demand for both affordable and premium flats in Ghaziabad. So people who work in the other costly cities around Ghaziabad such as Noida and Greater Noida prefer to stay here due to its connectivity and affordability.

Investors in Ghaziabad also follow a particular trend to keep moving with the growth of real estate in the city. They prefer to buy newly launched properties in Ghaziabad and sell them within a short span of time. In this way they try to increase the appreciation rate of properties. For instance if an investor buys a property today for Rs. 30 lakhs, try to sell in in a period of three to four months to a Rs.40 to 45 lakhs. This helps them in constant cash flow and in increasing the rate of appreciation of properties.

Not just investor played a main role in improving the real estate sector of Ghaziabad, but also the government. The government helped in improving and promoting the industrialization in and around the highways. Apart from residential areas, industries, logistics, production units, environmental protection facilities, public utilities, social infrastructure and administrative services help the real estate thrive in these areas. Hence the demand for residential apartments in Ghaziabad increased with time. These areas witnessed a lot of residential projects launching at a rapid speed.

Why you must invest in properties in Korattur

Chennai is a market which has been which has been very traditional. It is primarily made up of end users.  These end users have ensured that the market remains speculation free. Even though the city did face a small slowdown of sorts last year, things are looking up for the realty sector in 2015.
The market which is attracting the attention of the buyers the most in this city is the northern market. There are many factors which are working in its favour. But the factor which is influencing the buying decision the most is affordability. There are many micro markets here which have caught the attention of the buyers because of the cheap price tags that are attached to it. There are still large parcels of lands available here which are being developed to give more housing options for those who are looking for homes in the city.

Korattur is a micro market which is located in the north western part of the city. It is surrounded by areas such as Kolathur, Anna Nagar, Oragadam, Ambattur and Padi. It is encircled by both established and upcoming micro markets. It is located along the Chennai Mumbai Railway line. The locality is home to the Korattur railway station. There is now growing demand for property such as a plot and individual house for sale in Chennai which is located in this micro market.

As far as properties in Korattur are concerned, 2 BHK flats are in demand. This is followed by 1 BHK apartments. The unit size most preferred for flats here falls between 751 to 1000 square feet. This is followed by the 501 to 750 square feet range. The budget range that buyers are looking for as far as properties in chennai are concerned falls between INR 30 to 40 lakhs. The second most preferred budget range here falls between INR 20 to 30 lakhs. Buyers are willing to spend less than INR 2000 per square feet on flats here. In second place is the INR 2501 to 3000 per square feet range.

The going rate for apartments here stands at INR 5500 per square feet on average. The cost of an individual house for sale in Chennai which is located in this micro market stands at INR 5000 per square feet on average.

Though north Chennai is becoming quite popular among buyers, this area is not without its fair share of problems. The social and civic infrastructure present here is not up to the mark. It needs to be developed and that too at a fast pace if it has to keep up its tag as a growing real estate hub in the city. The government is focusing on this area and the blanks are being filled as far infrastructure is concerned. The upcoming extension of the metro line to Thiruvotriyur is big step in this direction. When this line becomes functional it will really bump up on the rates for homes in this part of Chennai.