New property hotspot in Ghaziabad

Property in Ghaziabad has ushered good news. The authorities have announced a widening of the 21 kilometer stretch of the National Highway 24 which extends from Dasna to UP Gate. The primary reason for this is the traffic problems that are faced by the residents of Noida and Indirapuram. This news has been a relief for the inhabitants of these cities.

The current status of Ghaziabad is somewhat similar to the rest of India, which is said to be stagnant. The city has numerous projects lined up, but the slowdown of Property Buyers in Ghaziabad has affected the whole real estate scenario in the developing city. This, however, has given a push to the projects that are lined along the National Highway 24 which has resulted in repositioning of many of the projects being locate along NH-24.

NH-24 is one of the busiest highways that connects Lucknow and Delhi overall, but it blocks especially between Hapur and Nizamuddin Bridge. It is said to be a new life for Property in Ghaziabad. The city is a prominent industrial and residential hub. Many people use this highway to travel to and from Delhi whereas on the other hand the highway connects Lucknow and Hapur and is one of the main roads in Uttar Pradesh.

The traffic on this highway has become a problem for the people travelling as well as living in Noida and Ghaziabad especially those who use this road on a daily basis. As per numerous surveys, this stretch has as much as 1.4 lakh passengers using this corridor and these two cities in the NCR has witnessed the major rise of the new residential projects and thus the inflow of new residents in the last five years. As a result, this expansion was much needed and was in demand for long.

The stretch along the National Highway 24 offers various property options. Currently, land parcels are available with different segments from mid and high rise buildings to integrated townships; Ghaziabad properties have numerous options for the buyers to choose from. Also, the prices of Property in Ghaziabad varies by the proximity to the highway as well as the availability or offerings of the local infrastructure.

The location is again heading towards being a promising place for investing in the residential and commercial property in Ghaziabad. The renowned developers are already developing some magnificent projects along the National Highway 24 with a belief of getting real returns in the future.

Noida is Booming Again With Increase in Demand of Realty Market

The real estate market of Noida saw a big uptake since the government minimized the eco-sensitive zone in and around the Okhla bird sanctuary. As per the reports the Residential property in Noida came down by 4.6% since the National Green Tribunal ordered a stop to construction. Since the launch of the project in 2011, the rates of property in Noida appreciated by 60%

The sale of property in Noida fell down drastically in the last two years but the experts believe that the market will recover as soon as the projects are completed. Developers believe that the location will see more residential sales along with the office and retail spaces leasing in the coming months. There is an expectation of residential buyers to pick up demand as the real estate market is opening up again in the area. With reducing interest rates and the focus of the government on the infrastructural developments might bring along food news for the Real Estate Sector in Noida.

The uncertainty on the eco-sensitive zone has made the home buyers wait for possession of their apartments and many possessions on the anvil by the year end. This move will definitely see a rise in the registration of property in Noida which has declined by nearly 30%, year after year.

Many home buyers received a breather when the government approved the reduction of the eco-sensitive area around the Okhla bird sanctuary. There were around 50 residential projects that were impacted by about 50,000 home buyers due to the pending decision of the government.

The environment ministry's bill notification that was issued last year, was cleared by the government, which stated that the eco-sensitive zone would be measured up to 100 meters from the eastern, western and southern borders and up to 1.27 km from the northern borderline of the sanctuary.

The projects were trapped after a tribunal command ordering a stop in the construction in the radius of 10 km from the Okhla bird sanctuary and preventing the authorities from allotting completion certificates within the eco-sensitive zone till the approval from the National Board of Wildlife was found. The tribunal also focused the Centre to define the eco-sensitive zone around the sanctuary after seeing fresh applications from Uttar Pradesh, Haryana and Delhi. After the issue of the notification by the government, the home buyers outside the zonal area will get occupancy certificated for their apartments. There are many renowned developers whose projects were affected by the tribunal orders.

Irrespective of these government orders, Property in Noida is definitely going to get more demands of residential and commercial projects which are said to be affordable and has easy and convenient connectivity to Delhi NCR. Thus, Noida is said to be back with a bang with world class infrastructure to cater to the buyers and investors.

Bangalore to Have Preference Amongst NRIs and HNIs

Bangalore is said to be the best real estate destination amongst the Non-resident Indians and High-Net worth Indians. The central part of the city is said to be on the top list of NRIs and HNIs residential buyers till now. However, there is a shift in the trends as buyers are seen moving towards the suburban areas for investment. The people are specifically opting for the southern part of the city. The southern localities are gaining popularity amongst the buyers as the area has growing urbanization, arrival of service industries and infrastructural advancements has led the area towards the high-ticket size of the real estate market.

According to the reports there is a noticeable hike in supply of luxury homes and ultra-luxury home segments in the region as opposed to the same section that is dropping in the central region. Also, there has been a rapid growth in the infrastructure of the real estate sector in the region. The IT industry is like a cherry on the top. Also, along with the increasing demand by the HNIs and NRIs, the Property in Bangalore is also witnessing healthy demand of premium properties from the top-management professionals of the organizations located here.

Along with this, the government is also taking the initiative for making the real estate sector in the region a profitable deal for the buyers. One amongst all the initiative includes, housing for all by 2022. Though the market needs to stable as this is affecting the number of launch that are taking place in the city as if there is no increase in the sold property, there are expectations of lesser lunches this year as well.

However, the localities in the suburban areas are witnessing a surge in supply of properties. The ultra-luxury houses are also recording significant sale in Koramangala and Jayanagar. People are investing more on the luxury housing sector as more and more people are finding them affordable as compared to other places and localities.

There are many new launches that are taking place in the city and many of them are lined-up with excellent infrastructure, gated communities, villas, bungalows and much more that are coming up into the city and thus people are keenly and willingly investing in property in Bangalore. The success of the real estate sector in the city is a clear symbol of the satisfaction that the investors are getting. The projects are constructed keeping in mind the requirement and demand of the potential buyers. Bangalore is of course the best investment option in today’s time as not only Indians but Foreigners are also investing in property in Bangalore. This is in-turn increasing the demand for residential and commercial property in the city.

Definitely, owning a property in Bangalore is sure going to get good returns on investment in the future. Significantly the outskirts of the city is also developing at a very rapid pace, making it a good option for the buyers a Buy Property in Bangalore.

Is Faridabad Property Giving competition to that in Gurgaon?

Faridabad is considered as the most promising city by many and some consider it to be a poor cousin of Gurgaon. Whatever is the view of people, there is no denying that numerous things are working in the favor of the city and the metro connectivity is like the cherry on the top!

Known to be the largest city of Haryana, this fantastic city possesses a good and strategic geographical location due to its vicinity to all the primary cities of NCR, namely Gurgaon, Noida, and South Delhi, which has played a significant role in boosting the Real Estate Sector and economic possibilities. It is pretty visible that Properties in Faridabad has been attracting numerous buyers as well as other developers or competitors due to its incredible physical and social infrastructure. The primary reason for the same has been the shortage of land in Delhi. No doubt, these investments are generating many job opportunities.

This magnificent city is witnessing numerous new mass transit systems that are developing in the city. The metro connectivity that connects Faridabad to Delhi. Along with this the city will be connected to the rest of NCR through metro, expressways and roads. The improved transportation of Faridabad contributes significantly to the rise of the city. Also, there are numerous housing projects and IT parks that are nearing completion in the city.

There are numerous factor start are contribution towards the growth of Faridabad. These includes the metro connectivity that has open gates for developments in Gurgaon and the IT companies in the millennium city, Gurgaon. Another biggest advantage that Faridabad has is it closeness to Gurgaon and Delhi and both these cities have scarcity of affordable housing segments and land. This has bought along advantage for the Residential Properties in Faridabad.

The hinterlands are also being experienced in the city. Places like Nehrapur has received boost due to the Kundli-Manesar-Palwal Expressway that will connect Delhi to Faridabad. This will provide the advantage to the residents in Faridabad to enjoy the improved infrastructure of the national capital, Delhi.

Faridabad properties are all set to boom in the coming time. With numerous MNCs, small and medium sized organizations are moving towards Faridabad- Ballabgarh complex. This obviously will affect the Real Estate sector in the city 

Corporates Engaging Buyers Along Sarjapur Road Belt in Bangalore

Bangalore has been an attractive realty market since years. The city has numerous localities which are emerging as a hub for the real estate market. One such locality is the Sarjapur Road belt which is said to be a peripheral location in the south of Bangalore. Property in Bangalore is eyeing a lot of investment by the residential and commercial property buyers.

The area is gaining significance from the corporate occupier’s perspective. The stretch originates from the Outer Ring Road intersection and extends further up to Sarjapur town. Other important, significant roads Varthur Road and Hosur Road are situated to the north and south of the Road, respectively.  The Sarjapur Road is in the vicinity from the key developed markets of Whitefield, Koramangala, and HSR Layout among the other primary locations.

Active Commercial Markets

This belt is close to the Outer Ring Road and is one of the liveliest commercial hubs of the city. Earlier, the region had on one major IT companies but today it is famous for being a corporate hub with the host to numerous reputed IT companies.

Growth and Market Dynamics

As per the experts the stretch of Sarjapur Road that begins from Iblur Junction to Dommasandra Circle and then from Dommasandra Circle to Sarjapur village. The first stretch is primarily driven by the office developments in Bellandur and Kadubeesanahalli. Due to these developments in the city, the area is witnessing the construction of retail, offices and residential spaces. The area is experiencing not only the developments for offices but also witnesses’ development of IT campuses and IT Parks. Going forward, this stretch is expected to witness increased transaction when an 18 acre upcoming IT park and IT major’s second campus are on this road are operational.

Location in focus

The prime areas amongst Properties in Bangalore includes Kodathi, Doddakannelli, and Chikkanahalli where residential, commercial and retail growth is taking place. While the Sarjapur-Attibele belt is witnessing commercial and residential growth, Dommasandra, Sarjapur Village and Yanmar Village are emerging as residential regions. 

Hunting a Property in Kolkata? Here are The Tips

Kolkata is a cultural city with people of different religions living with demand of residential and commercial Property in Kolkata. Localities like New Town and Salt Lake have been in demand by the buyers. Both the places are well-established with options for various ready to move in housing projects to choose from.

Whether one is Buying Property in Kolkata for end use or to reap benefits in future, of course they need to have some knowledge and guidelines to how to go about Buying Residential Property in Kolkata. Thus, here are some tips for buyers hunting a house in Kolkata. 

Evaluation of the requirement

It is important for the buyers to know what exactly they are desiring for. The buyers should always be clear about their requirements like type, size and the kind of apartment one is looking for before actually starting your search for buying home in Kolkata properties.

New or Resale

Another major factor is to make the decision of whether one wants to invets in new or resale property. Which one is the pick according to which the segregation of property will be done? This is the time to take that decision and analyze what is more worthy of you, a resale property or a new buy? It is important to make the decision as resale properties are less priced as compared to the new properties.

Amenities

Before investing in any property, it is important to know the localities you want to live in. one should check out the area and its surroundings, availability of schools, grocery stores and other facilities nearby the area you are willing to invest in.

The right location

It is said to be the most complex aspect of Buying Property. Each buyer has its own preference like distance form their offices, or schools, metro stations, etc. one should always keep into consideration the essential areas surrounding the locality, public transport and other important things including the right location match for you to reside in.

Hike in The Cost of Residential Property in Noida?

A setback for the buyers at Yamuna Bank, Noida and Greater Noida, the Residential Property is all set to cost more and of course, this burden will come on the pockets of the customers. The implementation of increased stamp duty on registration of units from 5 to 7 percent has been approved by the governor recently, and this will be applicable from the beginning from the financial year i.e. April 1st, 2016.

Experts believe that depending on the size of the purchase units; there will be an increased burden of around Rs. 50,000 – Rs. 2, 00,000 completely on the customers who are willingly investing in Residential Property in Noida, Yamuna Expressway and Greater Noida. They believe that these will undoubtedly affect the demand for property that recently started picking up pace.

After the National Green Tribunal (NGT) verdict last year, it bought positivity and begun to bring customers back in these areas. But, after the governor’s decision, the buyers and investors are morose and are protesting with the developers’ fraternity. Even the developers believe that this move of increasing the stamp duty will never satisfy the buyers, and they will be forced to pay extra money to receive the ownership of their units. This move is of course not for the buyers, and all the efforts by the NGT verdict which bought back the buyers to the Properties in Noida and nearby regions will now go in vain. 

It is to be taken into account that almost one lakh units are registered each year from Noida, Greater Noida and Yamuna Bank which brings along heavy amount to the authorities. The buyers have to bear not only the increased stamp duty but also the axe of transfer fees and lease rents as the properties in these areas are held on lease. Along with this, the transfer charges are also high which is added to the lease rent. It comes down to a total of 1-2.5% of the total cost of the unit. It, however, varies with different Properties in Noida, Yamuna Bank and Greater Noida. Adding to this is the hiked property prices which of course has to be paid by the buyer.

Altogether the problems of Buying Property in Noida, and nearby regions is high, and this will affect the demand for Properties in Noida, Yamuna Bank and Greater Noida. It is being expected that this decision of increased stamp duty will reduce the demand for property in the future.