Property in Chennai invites for great investment opportunities

Chennai, located on the south–eastern coast of India, appears as an attractive real estate investment destination in South India. This report captures the highlights of the real estate market of the city targeting, the reasons, ”Why should you buy property in Chennai?” The city is also known to be one of the top 12 upcoming destinations for luxury real estate. Huge FDI investment in the resilient real estate market has been the quoted reason to improve Chennai’s visibility in the international investor community.

If you are wondering about the right time to invest, this would be it. Here are the top reasons:

According to a recent study, Chennai is one of the top real estate destinations in the world. It is already a magnet to Ultra High Networth Individuals in the region and is therefore already a recognized and fashionable enclave. There are several infrastructure projects that are at different stages of construction and planning that will impact the citizens and the property market. These include Chennai Metro Rail, Chennai Mass Rapid Transit System, underground drainage, bus terminus, interlinking of CMRL, MTRS & sub-urban rail network and outer ring roads. A slew of development plans indicates the bright future of the city and increases the demand of property in Chennai.

The peripheral road connecting Mahabalipuram to the Chennai port is envisaged to have a positive impact on various residential pockets of the city. The elevated expressway which is going to be built along the GST will resolve traffic woes and decongest traffic. The Old Mahaballipuram Road (OMR) invites a slew of residential projects in Chennai catering the needs of all kind of buyers, mid segment as well as the premium segments. Its offers close proximity to Sholinganallur , Thoraipakkam , Velacherry  and Elcot SEZs  makes investment in OMR Chennai profitable.

 

From an investment point of view, prices of property in Chennai are more affordable.  Other metropolitans such as Mumbai and Kolkata are comparatively expensive. This increases the attractiveness of the city thus driving the real estate market in the city. A number of reputed builders have shifted their focus to this city and are coming up promising Residential projects in Chennai that offers high class lifestyle to its residents with state of the art infrastructure and world class amenities.

Chennai hosts a number of IT firms, blue chip companies and multinational corporations. Many reputed companies are also planning to enter into the space with an intention to set up their bases in Chennai.  A good number of people come here in search of good job offers and better career opportunities. The city also boats of an excellent social infrastructure with a number of good hospitals, acclaimed institutes and colleges, schools and many more. Plethora of malls, clubs, restaurants are also available for fun and entertainment avenues that also adds to the lifestyle quotient of the city.

Property in Gurgaon witnesses increasing demand of residential projects

Gurgaon has been observed as an important realty market of the country, and especially in the National Capital Region (NCR). Property in Gurgaon has been witnessing increasing demand due to the rapid growth.  One of the significant reasons that led to the rapid growth in the city was the burgeoning industrialization. Presence of various multinational corporations attracted countless expatriates and NRIs that further resulted in Gurgaon’s realty boom.

 

The increase in the urban population of Gurgaon coupled with scarcity of land in NCR has made property in Gurgaon one of the most expensive residential hubs. The city is also witnessing high degree of growth in others aspects such as infrastructure, social facilities, connectivity and many more. These factors invite a lot of builders to launch their residential projects in Gurgaon.

 

Being a financial hub, the city has attracted people to settle down near their workplaces. Gurgaon also offers luxurious homes to High Net Worth individuals (HNIs). The demand for a modern lifestyle and fashionable living accommodation has also increased the growing need for Residential projects in Gurgaon. The real estate development companies offer amenities and facilities which people desire from apartments to villas with hi-tech facilities, swimming pools, multilevel parking, power backups and high level security. The demand for these luxurious projects has increased not only for the end users but also for the investors.

 

Robust Connectivity

Gurgaon also enjoys a robust connectivity which is the major highlight of the city.  The place is well connected the northern parts via the Sohna Road and in the East via the Golf Course Extension Road. The Sohna Road further connects to the Delhi-Jaipur expressway which is a 4 lane highway connecting the satellite city to Delhi. Dwarka Expressway also known as Northern Peripheral Road (NPR), is one of the major under construction expressways in Gurgaon. The expressway will connect Dwarka in Delhi with NH – 8 at Kherki Dhaula in Gurgaon and will pass through Pataudi Road. It is the third direct link between Delhi and Gurgaon

The 18 km stretch of NPR is likely to boost the connectivity between two regions and cut down the traffic woes, linking Dwarka to other parts of Delhi. The city is also well connected by rail with rapid metros that run within the periphery and offers easy and fast access. Apart from this the city is also well connected to other parts of Delhi and NCR through metro. Railway station is also situated within the periphery of the city. IGI Airport is just 45 minutes away drive. Hence, the city is well connected by road, rail and air which further adds to its attractiveness.

 

Social Infrastructure and lifestyle quotient.

The city also enjoys a robust social infrastructure with a number of good hospitals, schools and colleges. A spate of malls, clubs, restaurants and other fun and entertainment avenues adds to the lifestyle quotient of the city. All these factors leads to the increasing demand of residential units in the city.

Buying a property in Noida appears as a lucrative deal

Delhi has not witnessed much progress in the recent past due to the unsettled disputes and skyrocketing prices of Gurgaon has made a tough deal for many.      In the event, the Property in Noida comes as a pleasant respite to the buyers.

 

Captured below are the top 6 reasons of buying a property in Noida.

Good Infrastructure: The city has the potential to become the next-big-thing in the world of real estate owing to its excellent infrastructure. Availability of land for construction makes it rank above other metropolitans like Delhi and Mumbai. A slew of other development plans and schemes, once completed, is envisaged to boost the infrastructure further. Noida’s real estate, in fact, is going a long way due to the scope it has for new constructions.

 

Connectivity getting better: The real estate in Noida is going to get much-needed metro connectivity to nearby cities, in the months to come. While it is already connected to the capital city Delhi, via metro, the plan to extend the same to Greater Noida is also going on. Once that gets functional, the commutation between Noida and Greater Noida would become far too easier. It will save the time of commuters, on one hand and decongest the traffic, on the other. State Road Transport bus services that run throughout the city provides uninterrupted and frequent connectivity to the people to other major cities of Uttar Pradesh. FNG (Faridabad-Noida-Ghaziabad) expressway once functional, is likely to enhance the further connectivity and decongest traffic.

 

Big Players in the Field: Some of the top-class developers are eyeing Noida for their new launchings, and most of these projects offer avant-garde lifestyle. Some of the renowned developers have already floated some of their prestigious projects in Noida and Greater Noida. These residential projects in Noida are designed to provide a better lifestyle to its residents and offer state of the art infrastructure and top notch amenities.

Quick Disposal of Forgery Cases: As per new laws, all the cases related to land and property forgery shall now be under the jurisdiction of the Stamps Department. Earlier, these were under court’s jurisdiction and the matters would take years to settle down. But now, the complaints can expect faster disposal of cases. This reduces the changes of fraudulent activities and builds trust and credibility.

 

 

Relatively Affordable Market: At the time when property rates in Delhi and Mumbai are sky-high, the prices are relatively affordable in Noida that increases the attractiveness of the city. Though the prices here too have undergone appreciation it the recent past, they are still lower than their competitive markets.  The developers have also come up with many lucrative cash back offers and flexible payment plans.  So, buying a property in Noida is a good option for those who are looking for residential properties at reasonable rates.

 

Burgeoning Industrial: Being a home to many Giant IT firms, blue chip companies and multinational corporations, many other reputed companies are also planning to set up their bases in Noida. The booming industrialization is increasing the footfall every year with a massive increase in demand of Residential projects in Noida.

localities of Ahmedabad

As the largest city in the most prosperous state in the country, Ahmedabad has a great deal going for it. It has excellent infrastructure as well as a standard of living that is higher than the national average, although the city may not yet have the allure of cities such as Bangalore and Pune; it does have an identity of its own as a city with good schools and plentiful modern industry.

 

An attractive location for homebuyers keen to own property in Ahmedabad is Thaltej, located in western Ahmedabad. The price of property at this western part of Ahmedabad appreciated greatly over the past few years only to now settle back down at slightly below 4,700 rupees a square foot. Thaltej has a large number of luxury housing developments with many units priced between 1 and 2 crores, most units priced at this range consist of 2 to 3 BHK apartments.  For buyers who are keen to own luxury villas in Ahmedabad, Thaltej is an attractive option with a wide availability of 5 BHK villas, however some such villas priced at upwards of 5 crores would not be considered inexpensive in any real estate market in the country.

 

As an attractive real estate destination, over 20 new projects in Ahmedabad are under construction at Thaltej, many in the form of high rise apartments.

 

The more modest and certainly less expensive locality of Chandkheda in Ahmedabad may be an attractive location for buyers who are keen to own budget apartments in Ahmedabad. Most of the flats at this locality are priced well below 50 lakhs giving some respite to homebuyers who are keen to own affordable homes in Ahmedabad. A 2 BHK 1,350 square foot flat at Chandkheda would cost you only a little over 28 lakhs and a 1,600 square foot 3 BHK flat here could be yours for approximately 40 lakhs. The price of property at Chandkheda has appreciated slightly more than 6 percent over the past 36 months.

 

Motera, a locality of Ahmedabad a few kilometers from Channdkheda is a slightly more upmarket locality than Chandkheda with numerous apartments priced between 50 lakhs to 1 crore rupees. A good quality 3 BHK flat here by one of the top builders in Ahmedabad could be yours for a little less than 80 lakhs. Motera has a moderately established social infrastructure of schools and hospitals, though not as well developed in regards to such facilities as many other parts of the city, Motera still has the advantage of being well connected with the rest of the city and the infrastructure though not as yet fully matured is heading in that direction.

 

As one of the leading real estate destinations in the country, Ahmedabad is quickly becoming a destination for homebuyers as well as investors. Property in Ahmedabad is not as exorbitantly priced as property in similarly sized cities such as Pune and Bangalore but is still a great bet for homebuyers as well as investors. With time the real estate market in the city can be expected to scale newer heights.

 

Nizams and Techies

Hyderabad may have been ruled by the Nizams, today however the city has another ruling roost namely the techies. Sure they may not make policy decisions, yet, but in almost any other respect they are the crème de la crème of Hyderabadi society and indeed most other societies in India.

 

However, what really makes a techie stand out among his peers is whether the concerned techie is also an MBA. That is the ultimate combination or the killer app so to speak. A techie from a top institute may know technology, but that doesn’t mean he/she knowns how to be a leader, to prove themselves worthy of such a role he or she must earn an MBA degree. Now a techie in Hyderabad need not leave town to do so, they can earn a degree from arguably the best institute in the country without leaving Hyderabad.

 

So does that mean that Hyderabad really does have it all? It does seem so to the outside observer, it may have the best business school, some of the best engineering colleges in the country and it even has Film City, Bollywood’s southern rival. What may however give Hyderabad an advantage is the real estate in Hyderabad which is substantially more affordable than real estate in many other major Indian cities.

Property in Hyderabad is affordable. Now “affordable” when used pertaining to property may conjure up images of cramped 2 bedroom apartments in Hyderabad, but I intend the word to convey simply its positive connotation. Apartments in Hyderabad are affordable means that they are reasonably priced; many don’t yet require the payment of huge EMI’s associated with properties in cities like Mumbai and at the same time such properties are attractive and most importantly comfortable to live in. Although there is no shortage of affordable housing in Hyderabad, most of the techies live in more upmarket developments where they have all the modern amenities a resident in a plush society in Gurgaon would have.

 

An abundance of such developments at localities such as Hitech city and Gachibowli means an ever rising standard of living for the residents of Hyderabad, the construction of sleek and modern apartments in Hyderabad is a first for a city which may have only witnessed the advent of such new form of architecture in the past three decades. The invasion of Hyderabad’s skyline by high-rises is not too different a phenomenon than what is occurring in many other cities in the country and has been completed in one or two. Yet this change as unpleasant as it may seem to some today must be accommodated and acquiesced to as over the long run it is likely to change the landscape of the entire country for the better lifting millions if not tens of millions out of poverty and in the process refining our culture and bringing forth new forms of expression from the citizens of India.

 

The rapid march forward occurring all across the country is not too different from what occurred in western nations over 100 years ago and needless to say we shall experience growing pains, yet at the end may stand a proud glimmering nation lacking both poverty and ignorance among the masses.

If the demand for luxury apartments in Hyderabad is any indication, the country seems to wholeheartedly embrace western emancipation from superstition or prejudice to try and built a future of greater opportunity, we may never reach the elusive goal of a utopia yet our striving towards such an ideal may bring forth greater opportunity to many of today’s have not’s.

In the future the children of todays unskilled laborers may be techies who have earned an MBA from the top business school of Hyderabad and who live in what then would be one of the cities hundreds of luxury developments.

Septuagenarian’s in Pune

The weather in Pune is fabulous all year round, and surrounding the city there is greenery and a great deal of forest. Pune has always ranked high among retirees as a place to spend their golden years. The city has many elements which make it an ideal place to settle down after many years of service with either the private or public sector.

 

So what may you ask Pune possesses that is the right mix fancied by so many retiree?  Well the mix is just right just like Goldilocks Soup. Pune is not too large, not too small, well connected, not too expensive but still has everything the elderly and indeed everyone needs such as access to high quality health care, markets, and of course good quality housing for retirees.

Well, all of the above are facts but what makes Pune an attractive destination for retires is the fact that it deliberately attracts senior citizens to spend their golden years here. There are residential projects in Pune specially built to house to senior citizens keeping their requirements and needs in mind. These can be found at Pune localities such as Aundh, Chakan and many others localities many of which lie on the periphery of the city.

 

Pune is also an attractive destination for retirees to settle down because until recently it did not have the big town feel or atmosphere of cities like Mumbai and New Delhi with their constant hustle and hectic lifestyle. Life in Pune was still relatively slow and even paced and did not make too many demands on its citizens. I used the words “until recently” because Pune is in an inchoate state of blossoming into a full blown metropolis catering to the young and shunning the elderly.

 

Real Estate in Pune is becoming more expensive making the city a less attractive destination for retirees to settle down at. Like Goldilocks Soup, one of the reasons senior citizens found Pune to be an attractive retirement destination was that property in Pune, until several years ago, was not too expensive, this is gradually become less true. A solid example of how Pune is tilting towards pandering to the young can be gauged by the number of new luxury apartments in Pune. Most such apartments are intended solely to house the young, not the elderly.  Retirees don’t want to buy luxury houses to live in; they instead expect good quality housing that is not too expensive, only the young and flashy intend to live in luxury residences.

 

Perhaps such a turn for the city was inevitable due to its close proximity to Mumbai, the financial hub of the country, and the fact that it was known as an education hub even 2 decades ago. Pune has nearly completed the transformation from an idyllic tranquil town to a bustling city and an important center of commerce. The young love the city and the elderly no longer wish to spend their twilight years here, perhaps it only goes to show that when the young claim something as their own, the elderly have no choice but to retreat.

Mumbai And the Locals

The city of Mumbai is a vast sea or perhaps even an ocean. Owing property in Mumbai is a dream for many yet upon the completion of the said goal homebuyers may realize that they have to commute for hours a day to reach their place of employment. Of course if they lived in Mumbai and picked out the new home themselves they knew what lay in store for them once they actually shifted in and had to commute to work every day. Yet knowing the path and walking the path are two distinct frames of mind. I may know I have to commute for 2 hours every day to reach my office on time, yet to actually do so everyday gives one a great deal of time to dwell on whether the decision to buy a home where it was bought was the best possible decision or not.

 

Many new projects in Mumbai are under construction at greater and greater distances from the city center, yet the heart of the city remains the same unmoving and unappreciative of the plight of newcomers to the city.

 

The local trains of Mumbai are well known throughout the world, foreigners who have travelled in them speak about them when among friends back at home. They mention how difficult it is to get inside the train and how once inside the passenger wishes he had never gotten in. How tightly packed the passengers are inside the compartment of the train and how they cannot believe people could travel via such a mode only a daily basis.

 

Don’t miss quote me, westerners love Mumbai because despite the cramped living space in the city, it is a truly monolithic city which best exemplifies the presence of opaque order amongst the visibility of only chaos. Nobody probably knows how Mumbai works, what its center is and how to best govern it. Yet the fact that it does work is in itself worthy of awe and admiration.

 

Mumbai is chaotic and expensive, property rates in Mumbai may make someone who owns property in London do a double take, that’s how expensive real estate in Mumbai is. As a proud Indian I take pride in the high property rates of the city, even though it means I can never afford to live comfortably there. The high price for even 2 BHK flats in Mumbai means that wealth is being created in the country which is good for an Indian regardless of wherever he or she may reside.  Every time Residential projects in Mumbai are completed and sold it means wealth is being created in the economy, much of this wealth flows into segments of the economy that are completely unrelated to the origin of the creation of this wealth. Among one such important segment is education which undoubtedly benefits many citizens over time as a huge economic multiplier leading eventually to the creation of new jobs and services and higher standards of living for all.

 

Hence even when traveling huge distances via local train in Mumbai, don’t be disheartened.  Mumbai continues to expand and over time as the city’s infrastructure and the city’s functioning are better constructed and better understood respectively, ways and means to enrich the lives of the citizens of Mumbai shall be discovered and implemented.

Bangalore And Economics

Is Bangalore the most happening city in the country? Well the locals of Bangalore certainly think so, to such individuals Bangalore is the epicenter of the nation and the beating heart of the new economy and they even go so far as to claim that one day Bangalore shall overshadow Mumbai in importance.

 

Whether such people are right or wrong is not as important as their audacity to believe in such claims which would have been considered outlandish by these same individuals even 20 years ago. So what has brought about such changes in the worldview of so many? What has made them come to believe that Bangalore has such an outstanding future ahead of itself? Well almost certainly the fact that legions of new jobs continue to be created in the city’s Information Technology sector resulting in unmatched prosperity in the city is the leading contributor to this belief.

 

How does such growth in only one sector benefit an entire city which has hundreds upon hundreds of occupations and industries? Well once again we come to our friend and noble peace prize winner Milton Friedman, who won the prize for what we now term as “trickledown economics”.  As the salaries in one sector or region of a city’s economy rise, the benefit trickles down to other parts of the economy. Let’s see how trickledown economics affects the price of property in Bangalore.

Well as salaries for a significant segment of a population increase in a city the people in the concerned segment begin to demand a higher standard of living, this includes luxuries such as eating out at chic restaurants, wearing fancier clothes (the demand for designer clothing increases), traveling abroad for vacation with one’s family, and purchasing bigger and fancier homes.

 

The last point is relevant as due to it the price of flats in Bangalore has continued to appreciate over the past few years whereas there has been a slump in many other larger real estate markets in the country.  What has led this to occur? Well we only need high school economics to be able to understand this; to put it simply as the demand for something increases its price goes up. With so many new families working in Bangalore the demand for housing increases which leads to the price of housing in all parts of the city to increase. The more of something people want, the more expensive it becomes.

 

So what effect has this had on the price of apartments in Bangalore? To put it bluntly the prices of real estate property in Bangalore has been shooting up while the same in other parts of the country has been stagnating or slipping lower. Why? Well Bangalore’s IT industry needs new programmers to meet the increasing demand for new software for clients located all across the globe. Such new migrants into the city need a home for themselves and for their families; this causes the demand for homes to increase and subsequently leads to the prices of homes to appreciate as well.

Bangalore And Nightlife

If you are in Bangalore and want to have a good time at night, can you? Yes, you most certainly can, the cities nightlife rivals that of other cities known to be party destinations namely Mumbai and Delhi.

Bangalore at night is a bustling place with neon lights and a carnival atmosphere in the air. It has been so for almost as long as most citizens of Bangalore can remember. This was so even 20 years ago and since then the cities nightlife and party atmosphere have both gained in reputation but not necessarily in notoriety. The citizens of the city are far too cultured to let themselves become rowdy and unruly. As a matter of fact, Bangalore is a relatively safe city for women as well, more so when compared to cities such as Delhi.

 

Wow, a great nightlife combined with safety for women as well! It seems Bangalore has it all, but does it? How much do you need to shell out to live in this Shangri-La? Well that’s the possible downside, living here is not cheap but still within the means of those who work in the cities IT sector, such individuals are often less affected by the rising property rates in Bangalore.

 

So what are the rates of property in Bangalore? Well they have been rising steadily over the past few years to the point that the average cost of an apartment at Bangalore now stands at nearly 4800 rupees per square foot which is comparable to the rates of certain developments in Gurgaon. When eyeballing this rate keep in mind that it is the average rate for property in Bangalore, there is no shortage of flats in Bangalore that are priced much higher than this average although I would be wrong to say that there are a larger number that are priced much lower. The lower bound price can only go so low, yet it would seem the higher bound price can go much higher simply because 4,800 has a lot more realistic valuations for real estate that are greater than the number than those lower than it. For example, you could probably find a development at Bangalore where flats are priced at 9600 rupees per square foot with much greater ease than you could for apartments where the cost is 1,000 rupees per square foot.  The realistic valuations for flats in Bangalore that cost significantly more than 4800 rupees per square foot has a much greater possible range than realistic valuations for flats that cost less than 4800 rupees per square foot.

 

So where does this leave you pertaining to partaking in the fabulous nightlife Bangalore has to offer? Well the good news is that like in any city, you need not own property to live Bangalore. You could enjoy all the charms and sights of the city without actually owing your own home in the city. Keep in mind however you many need to shift more than once in the city if you are a renter as the largest percentage of homebuyers in Bangalore tend to be those who purchase a home with the intend to live in it. So if and when they move to the city you may have to vacate their apartment and look for another one. Of course there will be a lease but I would not expect it to be of a longer duration than 1 year, so if you intend to live in the city for longer than a few years, you may need to shift residences with in the city a few times.

 

 

Search for Home in Mumbai

Mumbai may in fact be the only city in India that qualifies as a world class city. It has a certain cosmopolitan appeal which draws many from near and afar. Possibly more foreign expats live in Mumbai than in any other city in India, and they like to live in Mumbai because despite the poor infrastructure and cramped living spaces it is more like their home than any other Indian city can be because of the city’s vibrant night life and cosmopolitan populace.

 

It may be great to live in Mumbai and buy property in Mumbai may be a good idea. Yet when it comes down to the nitty gritty process of carrying out with the process who do we turn to for help? For the ordinary person, turning to the internet in the hopes of searching for flats in Mumbai is the first step. The internet it seems can solve nearly all of our problems and help us buy or sell anything we may desire. Today there is an app for nearly anything and the app which gives us information about the top real estate website in Mumbai can be downloaded to your mobile device.

 

With so much information and so many different apps from different companies all claiming to offer the best deals and prices it can become confusing to know who to trust and who not to trust. Plus, as soon as you express interest in purchasing property it is almost certain that you will be inundated with calls from agents and middle men all trying to make money from your investment and trying to take their cut from your hard earned money.

 

If the above were not enough to confuse a buyer, it turns out that builders and developers in Mumbai also often have websites and some even have apps that you can download and use to look through at prospective flats in Mumbai which you may want to own.

 

It’s a jungle out there, an urban jungle where concrete high rise substitute for trees and bikes and automobiles are the big game, the biggest game however is often the new home buyer who many seek to exploit to their advantage.  Searching for your dream home in Mumbai requires patience and shrewdness, once a budged has been fixed the next step is to find a location commensurate to your budget. Flats in Mumbai are plentiful but to find the right one for you requires diligence on your part and perhaps even a bit of luck, however remember that luck favors the prepared.

 

With so much of information out there it may seem difficult to even to get started with your search.  Yet even the longest journey begins with the first step and though the first steps taken by you might be tentative, after a few stumbles and shaky steps you should have no problem gaining your composure and striding ahead with confidence towards the completion of you stated goal and going on to become the proud owner of real estate in Mumbai.