Property in Greater Noida

All seems be slowly turning around for property in Greater Noida, the real estate market at this suburb of Delhi it seems is slowly picking up steam, waking from its slumber to take its place as a hot spot real estate destination on an equal footing with other better connected parts of the National Capital Region. Greater connectivity with surrounding regions is what Greater Noida was sorely lacking in the past, however with the enhanced connectivity with Noida via the Noida Greater Noida Expressway as well as the ongoing work intended to establish a metro link to Greater Noida. This region previously in a lull, is now being given a second look by businesses as a good location for commercial space and by households keen to buy a home.

 

Despite the improving consumer sentiment directed towards property in Greater Noida, it does come on the back of affordability of home ownership rather being shaped only by the appeal of Greater Noida as an attractive real estate destination. For homebuyers keen to own their own house, the opportunity to own 2 BHK flats in Greater Noida for below 50 lakhs, may prove to be an attractive opportunity. Furthermore, with the regions continuing strides towards greater connectivity with other important areas of the NCR, the downside to owning a home at Greater Noida may be less in investor’s eyes. In addition, the greater connectivity and the imminent arrival of the metro line may mean that prices in future are likely to rise at the locality.

 

Although the news is quietly optimistic for property in Greater Noida, the same may not be the case for real estate property in Noida. At Noida the number of units sold during the period fell from the number sold over the previous period. Although the likely cause of such discrepancy is almost certainly the combination of two factors, the newly found greater connectivity Greater Noida now enjoys with Noida and the large numbers of lower cost 2 BHK flats in Noida. The discrepancy shared above almost certainly has nothing whatsoever that may indicate a preference among buyers for property in Greater Noida over property in Noida based on any other factor than those already stated.

 

Many of the upcoming projects as well as those that have been already constructed at Greater Noida are priced at below 50 lakhs, the availability of 2 BHK flats at Noida that are similarly priced is far scarcer, thus the increase in sales for residential property in Noida and a concurrent fall in sales for the same at Noida. As a matter of fact some of the partial increase for property in Greater Noida may be the result of home buyers who may very well have purchased flats in Noida yet turned into speculators opting to invest in Greater Noida instead.

 

It should however be stated that the increase in the numbers of units sold at Greater Noida in 2016 over the same period last year differed by less than 100 units, a less than significant number and though positive, may be too low to indicate that a substantial turnaround in property in Greater Noida, as yet, lies ahead.

 

 

 

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home sweet Hyderabad

 

To own property in Hyderabad may be the ardent desire of many people in the state of Telangana. This desire is not only warranted but also one within reach of many educated people in the state, and if there is one thing Telangana has no shortage of it is educated people. It came as a surprise that all three IIT toppers this year were from the northern part of the country; the biggest surprise was to the people of Telangana who alone had grown accustomed to achieving this feat.

An attractive locality in Hyderabad and the location of many new projects in Hyderabad is Nallagandla.  Located on the outskirts of the city, Nallagandla is an up and coming locality which is touted as an investment destination for real estate in the city. Apartment prices at Nallagandla have already appreciated by close to 20% over the last 3 years and are currently priced at close to 4200 rupees per square foot.

Much of the property at Nallagandla is priced within the reach of middle class homes and 2 bedroom apartments on sale at price tags of 35 lakhs or lower are commonplace.  While the price of 2 bedroom flats at Nallagandla reveals low variability between the prices of 2 bedroom flats constructed by distinct developers, the range of prices for 3 bedroom flats constructed by different developers tends to be wider and hence shows a greater variability. For example, a great deal of 2 bedroom flats on sale at the location are priced at or near 35 Lakhs, whereas the prices for 3 bedroom flats can be found to range from 40 Lakhs to 80 Lakhs.

The trend mentioned above may not be unique, perhaps hinting that some developers at Nallagandla are colluding to sell 2 bedroom flats at close to rates mutually agreed upon, and attempting to sell 3 bedroom flats at slightly exorbitant rates.

Nallagandla, is the site of many new projects in Hyderabad as well as a great many upcoming ones. With very few developments that are more than 5 years old and with many new developments under construction, Nallagandla is in the midst of a construction boom and is home to many new residential projects in Hyderabad.

Property in Hyderabad will always sell for a premium, as a metropolis with a higher standard of living than many others in the country and with a powerhouse technology sector there is little to indicate that a city like Hyderabad could ever go bust. Commonsense would indicate that with the massive urbanization occurring in our country, there is little chance that people from all across the country would stop coming to seek opportunities in Hyderabad.

All of these newcomers into the city, whether professionals or not, will aspire to own apartments in Hyderabad. Many will work tirelessly to attain this goal; a great number of them will succeed. Those who do will likely take a home loan from a bank, the money taken on loan from the bank will go on to become part of a developer’s revenue. The developer will use this revenue and construct a development for those who took a home loan.

As long as tens of millions of Indians all across the rural and small urban centers of the country seek and find opportunities in the nations large urban centers, investing in property is a good bet, if not a great one.

Residential Real estate in Hyderabad

Residential apartments in Hyderabad

Under the deft leadership of Chief Minister Chandarbabu Naidu Hyderabad entered the race to become the Information Technology hub of India. Though it may not have reached that goal yet, it may certainly do so in the in the future.

With nearly all the top IT companies present in Hyderabad, Hyderabad may soon give those who are stalwarts of Bangalores dominance in the IT domain sleepless nights, If not doing so already. Facebook is in Bangalore, so is Qualcomm (if you are reading this on an Android phone there is a good chance that the processor in your phone has been designed by Qualcomm). These are among the most dynamic IT companies in the world and they have a presence in Hyderabad. If I were from Bangalore, I would be worried.

Forget IT; Hyderabad is now also racing ahead as a Biotechnology and Pharmaceutical hub as well.

So what do all these tech wiz’s working during the day in Hyderabad and exporting software to the result of the world do at night? Well they back to their homes in Hyderabad of course. The fact that so many software engineers have moved to the city to work has largely a boon to the city. Hyderabad alone generates a third of the taxes in the state.

All this inflow of money into the state has raised the price of residential apartments in Hyderabad leading to consistently rising prices for real estate in Hyderabad over the past 3 years

Some of the top destinations for builders in Hyderabad are Faluknama Palace and Charminar. Property in Hyderabad at Faluknama Palace is relatively inexpensive with an interested buyer able to purchase a 3-bedroom flat for less than 40 Lakhs

Victory Avenues at Charminar is the scene of developments in the form of plots with fresh plots available for less than 14 lakh Rupees. What makes this destination at Kachiguda particularly attractive is that prices here have appreciated by over 15% in the past 3 years.

Property in Hyderabad at elite neighborhoods like Banjara Hills offer luxury apartments in Hyderabad, an exciting property by Shri Krishna developers offers 3 bedroom apartments starting at 1.3 crores. Lotus Properties has a development at Banjara Hills which has appreciated by over 12% over the past 3 years; with a starting price for a 4 bedroom flat here a little less than 2.6 crores.

Undoubtedly the location for luxury apartments in Hyderabad, Banjara Hills is nearly as expensive sounding as the name suggests. Possibly among the most expensive properties in the neighborhood is a development by Brigade costing nearly 5 crores for a 4 bedroom apartment.

Faluknama to Banjara Hills may seem to be on the opposite sides on the planet yet both these neighborhoods are a part of the same city. Such extremes in the price of property in Hyderabad simply shows that the city caters to home buyers of all segments; from the newly upwardly mobile having a go at the big city, to the mature sophisticated home buyer who has amassed his earnings and proven himself in the world.

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Residential Property in noida

Property in Greater Noida showed tremendous promise a decade ago, and if some top members of the Uttar Pradesh government get their way property in Greater Noida may once again be among the top investment destinations in India.

The government of Uttar Pradesh has already requested the aviation ministry to build an international airport at Jewar. If things go as planned by the UP Government, it could mark a turning point for residential property in Greater Noida, a market in a slump which never quite to rose to fulfill its promise. Sources say close to 2,400 acres of land have been acquired for the proposed airport.

Could this finally happen? Perhaps the more important question is should it happen? The International Airport at New Delhi old thought it may be, is still not operating at peak capacity and may not do so for several years. The volume of air traffic at the Delhi Airport is nowhere near peak capacity potentially raising the risk that another International Airport in the NCR region would result in wasteful expenditure and possibly a new ghost airport.

Reasons to construct a new International airport at Greater Noida vary between utility, vanity and a me too mentality, with the former two as the more plausible reasons. There is little to make the case for an utility argument when another airport within the NCR is years, perhaps decades, away from reaching its peak traffic limit.

Vanity certainly plays a part, as due to the easy connectivity of Gurgaon with New Delhi, upcoming projects in Noida have diminished in number and scope. A new International Airport at Greater Noida could certainly resurrect the market for property in Noida and give the city added prestige. Me-to is the concept understood by the masses who would just love to have a new international airport, who knows, one day they may even catch an outbound flight from it to an exotic foreign destination.

Whether the city of Greater Noida really needs a new International Airport is debatable and I would love to hear plausible arguments from the other side.2

hyderabad- the Real Estate Destination of India

Looking for new home? Are you unsure where to invest your nest egg? Hyderabad may just be the place you’re looking for.

Residential Property in Hyderabad has come a long way over the past few decades and has now attained what economists term “investment grade status”. With property in Hyderabad showing an upward trend graph over the last 3 years with average price for property in the city rising from nearly 3200 Rupees per square foot to almost 3800 Rupees a square foot today, it seems there is no stopping the property juggernaut in Hyderabad’s property market.

 

If an investor wishes to invest for appreciation in upcoming projects in Hyderabad, this may be the right time. There are nearly 441 new projects in Hyderabad under construction and if one were to extrapolate using previous years tends, an investor could very well purchase an apartment and sell within a few years gaining a handsome return.

 

The construction of residential projects in Hyderabad is vast and numerous with some of the top real estate players in the fray. With quality builders offering 2000 square foot apartments starting from as low as 70 Lakhs, there is no shortage of affordable housing in Hyderabad.

 

For wheelers and dealers who understand the market with a great deal of sophistication, Hyderabad has a great deal to offer as well. The famed Lodha group is present in the city with a new development scheduled to be completed this year, considering the quality of the builders past projects even a neophyte investor can easily invest comfortably and be assured of  good returns.

 

A city once famous for its delicious food, especially its biryani, times have changed. There is an upbeat atmosphere in the city and not just because the home team won the Indian Premier League title beating no less than Bangalore. The high work ethics of the people of Hyderabad combined with values emphasizing education have begun to pay off for the city dwellers, the boom in real estate in Hyderabad was preceded by a boom in Information Technology. All this was due to the cultural values of the inhabitants of Hyderabad who prize hard work and education.

 

All of this success has not made the citizens of the city complacent, the high standards of their biryani have not dropped an inch as I was told by my relative who visited the city last week. I was angry at him for posting the photo of the dish on Facebook as it made by mouth salivate leading me to binge, and I’m trying to lose weight.

 

Buying property in Hyderabad can be a cinch even if you are not an insider and unfamiliar with the market.  A top real estate website in Hyderabad http://www.PropChill.com can be a great help for an interloper who intends to partake in the extraordinary growth in the residential property in Hyderabad.

On my next visit to the city, which I see happening within the next 3 weeks I intend to visit areas where the most frantic new projects in Hyderabad are being constructed. Namely, Tellapur, Gachibowli and Hitech City.

 

While there I intend to play golf at one of the city’s golf courses, I’m not a member but my cousin is and he sure as hell owes me.

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real Estate in India – the Clarion call for Recovery

The Indian economy has shown phenomenal resilience in the past one year, the last quarter has seen a growth rate of 7.9%, with an average yearly growth rate of 7.6% which is the highest in the world and has surpassed China; This at a time when rest of the world is going through an economic-slowdown; European countries are struggling to recover from a currency failure; The Need to Share ResponsibilityChinese dragon has lost its steam in the last one year; Japanese Yen has been trying to maintain status quo; US economy is sitting on a time bomb, waiting for the presidential elections to get over; the fall in oil prices has affected the middle east countries and Russia.

 

This high growth rate has been achieved through some very strict economic discipline and hard selling. A number of policy changes at the government’s end; an investor friendly environment; a very matured, cautious and observant handling by the Central Bank (RBI); Some out of the box initiatives like Make in India, Skill India, Startup India and opening up of the Defence Sector; A very strong external affairs policy laced with economic agenda steered by the Prime Minister himself, have made this possible. However, the road is long and there are still a number of potholes which need to be filled.

 

Almost all sectors have picked up the development strings and are on a path of recovery. The real estate in India which has a very significant contribution of 7% towards the GDP is still dragging its feet (real estate contributes only 6% to its economy in US). As real estate is a labour intensive sector any slow-down affects the job availability in a huge manner, which further impacts the economic growth of the country; this cascading effect needs to be arrested if the Indian economy is looking at a strong revival.  The real estate sector in India is expected to grow from US $93.8 Billion in 2014 to US $ 180 Billion by 2020, almost doubling its figures. The GDP contribution of the real estate sector in India is expected to be 13% by 2028. These are very healthy and encouraging figures, however these are only predictions and the real estate sector in India needs to ‘walk the talk’.

 

Under the housing for all scheme initiated by the government, 6 crore houses are to be built; 4 crores in rural areas and 2 crores in urban areas by 2022. This is a huge opportunity for the real estate sector in India, however the devil lies in the detail, as is evident the requirement is more in the rural than in the urban areas and therefore is a requirement to shift focus and the real estate sector in India needs to adopt a ‘push’ model instead of a ‘pull’ model, i.e. is to say, there is a requirement to reach out and build houses where the demand is there; rather than concentrating on urban areas and then hoping for the population to migrate.

 

Indians by nature are enterprising people and surely the real estate sector sees the opportunity; the growth of real estate website in India is not only important for the industry but also for the overall economy of the country.

 

 

 

Real Estate in india – A Tough Road ahead

Property in India is probably the only investment which is also based on requirement. Buying real estate in India is linked to investment as well as self-use, it has a dual purpose and therefore it becomes a complex issue.  The parameters for selecting property for self-use are different, as compared to, requirements for investment. However, when these two have to be clubbed there is requirement to balance out parameters which encompass both. From an individual investor’s perspective property or real estate market in India has never been easy to negotiate. The secondary market is predominantly driven by black money and therefore it is never easy to find out the actual cost of a property.

 

The primary real estate market in India is slightly more organized and is devoid of black money payments at the investor end. However, it has its own complications in terms of availability of clearances, sanctions, right of construction, time schedules etc. The real estate market in India is corruption driven and therefore is not investor friendly. The developer knows that investors are driven by personal requirements for buying property and can be exploited very easily due to this compulsion/helplessness.

 

The developers have their own side of the coin; they are required to grease palms for all the clearances and sanctions required, even if all documents are in order. This requires un-accounted for (black) money to be pumped in. Despite this one cannot rule out witch hunting, in case any official may want to indulge in it, due to any reason. Such practices are also exploited by certain developers/builders who are not clean and wanting to earn through mal practices, by short-circuiting the normal procedure. The real state sector in India is also plagued with a lot of red tape-ism which translates into a long unpredictable lifecycle for any property project in India.  This whole process has vitiated the real estate environment in India and needs some real sorting out, before we see any positive improvements.

 

The issues are clear, on one hand the developers are struggling to get time bound clearances/sanctions through the red taped administrative setup, earliest, without paying bribes and in a legitimate manner; on the other hand, individual investors are looking for surety that their investments are in safe hands. As on date, both these issues remain unresolved making property purchase in India akin to a game of gambling; where the chances of winning or losing are 50-50.

It needs to be understood that no industry in any country can survive for long with this kind of an arrangement. There is some serious introspection required at the developer’s/builders end; as well as the administrative setup needs to refine procedures, ease out process of doing business and rule out corruption.

The present slow-down in the India property website has forced some reforms to be initiated; however, it is a long road ahead.3