Delhi Real Estate: A Trendsetter in Property Market

Are you looking for a best property deal in India? If yes, then Delhi is the best option for you. Real estate in India has shown robust growth in past and is still flourishing at a rapid pace.Delhi, known as the ‘Heart of India’ is an attractive destination for millions of people who have come to the city either for quality education, lucrative job or residential and business purposes. Being a place of ample opportunities, Delhi has a lot in store for everyone and is considered as the prime attraction for property business in India.Presence of premier multi-national companies, reputed colleges like IIT, world renowned hospitals in the city have presented a trend for others in real estate sector making Delhi the foremost choice among property investors.

Delhi is a home to a large number of residential and commercial properties. Property business is increasing remarkably due to a boom in industrial activities in metropolitan cities like Delhi. Owing to increasing population in the city, the demand for commercial and residential projects is surging day-by-day. Delhi is emerging as one of the biggest property market in India. Industrial lands, shopping malls, residential property, luxury houses, etc. are the major segments in Delhi real estate.The choice of hot property in Delhi is unlimited with posh locations like East of Kailash, Lajpat Nagar, South-Ex, and Greater Kailash, among others.Locations like Jasola, Dwarka, etc. are places that forecast rising demand for property. The city is developing as a popular pick among Indian real estate developers who find Delhi profitable, well connected and most searched property market in India. The prices of apartments in Delhi depend upon the connectivity and location of property. For instance, businessmen prefer property location near airport, hotels, etc. Tourists seek for houses near historical places and locations well connected with amenities such as hospitals, markets;schools, etc. are mainly preferred by people looking for residential purpose.

The city, flooded with real estate projects attracts not only domestic investors but is also in great demand from foreign investors.A number of luxury apartments and villas are available in the city that is mostly picked by international investors. Factors like influx of tourists in India have significantly contributed in an increase in foreign investment in Indian property like Delhi. Being a commercial hub, a large number of national and multinational companies have set up their head offices in the city. The value of property in Delhi has increased the demand for other regions nearby the capital city, which include Noida, Gurgaon, Faridabad, etc.

The resale value of Delhi real estate is outstanding due to continuous hike in property price. The increase in real estate value in the city is supported by quality of life style, luxurious apartments, night lives, world-class hospitals, commercial property and reputed academic institutions. The property value in Delhi is increased due to real estate developments like metro rail expansion, shopping malls, welfare groups, common wealth games, etc.

Investing in real estate requires proper survey of property prices to get the best deal as per your preference for location, budget and style. Due to involvement of huge investments, one needs to be sure about all the details of property either through real estate agents or online portals, which saves your precious time and offer complete information about current price range and location of property available for rent, buy or sell. Online services are reliable where you can even look for feedback and comments posted by other customers involved in a particular property sale or purchase.So, if you want the best investment of life, start searching for appropriate property in Delhi.

Newly Launched Real Estate Projects: Benefit for Early Birds

The dream to get a property in your preferred location is now a reality. There are a number of luxury apartments available through newly launched projects that meet your lifestyle. The page features an overview about newly launched and existing hot real estate projects in major cities in India.

Newly launched real estate project

Real Estate is one of the leading industries in India. The demand for residential and commercial property is increasing at rapid pace. Consequently, a large number of real estate projects are being launched every year to meet the rising demand for commercial and residential property. Early investors get better opportunity to occupy the best property and some can even avail discounts as a part of soft launch by developers to generate cash flow. So, choose your dream house at an affordable range from a wide range of newly launched real estate projects in various cities in India such as Mumbai, Chennai, Kolkata, Pune, Bangalore, Delhi/NCR, etc. 

Real estate companies are focusing on urban cities like Mumbai, Delhi, Chennai and Kolkata for new projects mainly due to high demand of property in these areas. Most of the new projects are featured with advance technology, multi-storied apartments, healthy environment and amenities such as sports room, swimming pool, laundry services, shopping centres, etc. The newly launched projects offer a mini-world to residents making it a favorable place to live.

Hot real estate projects in India include SupertechEcoVillage and Gaur City 2 in Noida extension, Wave City Center in Noida,Jaypee Greens in Greater Noida, Eldeco Riviera in Greater Noida, DLF Garden City in Chennai, EkdantRawal Residency in Greater Noida, Aquila Heights by Tata Housing in Bangalore, and DLF Westend Heights in Bangalore, among others. It is reported that major builders like DLF,ATS Infrastructure, and Unitech Ltd. are planning to launch a couple of new projects in cities like Noida, Chandigarh and Gurgaon.

Some newly launched projects in India include:

•    Park View, 2 BHK apartments in Chennai
•    Santi Greens, 3BHK villas in Kolkata
•    Orchid Woods, 2-4 BHK apartments in Mumbai
•    Tata Inora Park, 2-3 BHK apartment in Pune
•    Godrej Prakriti 2-3 BHK apartments in Kolkata
•    Commonwealth Games Village, 2-5 BHK apartments in New Delhi
•    Purva Windermere, 2-4 BHK apartments in Chennai
•    Pristine Grandeur 2-3 BHKapartments in Pune
•    Margosa Heights 2-3 BHK apartments in Pune

Apart from above mentioned projects, Noida based Supertech recently launched a housing project known as ‘Araville Premium Homes’ in Gurgaon. Gurgaon is developing as a vibrant market for most of the developers.

The stiff competition between developers gives benefit to the consumer by providing the best facilities and services in new residential and commercial projects. In order to take the advantage of affordable prices in early stage of real estate projects you need to be updated about various developments in the property market. It is advised to make proper survey about new projects before investing in any one of them.

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Delhi Rises as Hot Destination for Rented Apartments

The following article gives an overview about the rising trend of rented apartments in Delhi. The price range of 1-BHK, 2-BHK and 3-BHK flats in the city vary as per location.

Delhi, the capital of India has always been a prime location for thousands of people across India. The city is center of attraction for all due to plethora of job opportunities, sumptuous food, reputed colleges, and much more. Each year, a large number of people are migrating to metro cities like Delhi primarily because of-lucrative jobs and higher studies. The influx of thousands of people has resulted in an increased demand in Delhi property. Owning to skyrocketed property prices not everyone can purchase a house. Consequently, the rented flats are high on demand.

Being the prime and most preferred location for residential purpose, the price for flats in Delhi is increasing day-by-day. Most of the students prefer 1 BHK flats that vary from Rs4,000 to Rs12,000 per month depending on the location of the flat.

2-BHK apartments are highly demanded as it provides decent accommodation to a family. A 2-BHK flat is usually available at high range of Rs 17,000 to Rs 25,000 per month. Accommodation in posh locations like Lajpat Nagar, South Delhi, HauzKhas, Defence Colony, etc. is extremely expensive and has more number of builder flats. Some locations in East Delhi are comparatively affordable where 2-BHK flats are available at a price range of Rs. 10,000 to Rs. 15,000 per month.

Owing a 3-BHK flat is a luxury in the city. The price for rented 3-BHK house in Delhi starts at a high price of Rs 20,000 and can reach up to Rs 50,000 per month.

Searching for a rented house in busy and expensive city like Delhi needs a lot of survey and correct information about property prices. A large number of online portals are available that can assist you in finding the right rented house as per your budget and preferred location just at a click!


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Pune: The Latest Real Estate Juggernaut

Despite the real estate market experiencing a tough time all over the country, Pune is one place where the effects have been minimal. What exactly makes this place a new reality hub? 

 
 Pune, the cultural capital of Maharashtra is the seventh largest metropolis in India. It is famously called as the Queen of the Deccan and has a glorious past, best described by the magnificent forts and palaces. Today, Pune has emerged as a true cosmopolitan city and a buzzing commercial center.  Last one decade has particularly seen a complete metamorphosis in the landscape and characteristics of the city. Narrow roads and high rise towers have taken the place of large vacant open spaces. Real estate market has flourished to new heights and Pune has emerged as one of them most preferred destinations for affordable housings. 

Market Summary

Pune’s reality sector has seen the launch of more than 130,000 housing units since 2009 and the vacancy rates are also pretty much in control at 21 percent. When compared to other real estate hubs, like Delhi/NCR and Mumbai, which have a market vacancy level of 30 percent, it is clear that Pune definitely has an edge.  Pune’s most active category is the middle level housing, which is available in the range of Rs 40-80 lakh and 70 percent of the supply will be ready for possession by the fourth quarter of FY13. Most of these mid-income homes are coming up in areas like Pimple Nilakh, Aundh, Wakad and Hinjewadi. 

Growth Drivers

The growth in Pune’s residential market is driven by the working class, which is employed in the IT/ITeS sectors. Most of these professionals prefer gated communities that have houses, flats and apartments with good lifestyle features matching their expectations. Infusion of new corporate firms has also created a demand for more flats for rent in Pune for the young migrants. The new generation of realtors are giving the real estate market a fresh outlook. Pune is essentially a youth driven market, where every industry, right from IT and ITeS to automobile and retail has lots of young blood.  Pune’s reality sector is also affected by local factors, of which Horse racing is the prominent one. Pune’s residential requirement increases significantly in the racing season. Extending over a month, the racing events attract enthusiasts from all over the country. Many of these affluent spenders look for a reliable and comfortable living arrangement during this period and therefore do not shy from either renting or buying houses or villas for themselves. 

Sustained growth or just a bubble?

Trends suggest that Pune will continue to experience healthy consumer demand in the near future also. The local economy is thriving and so is the demand for retail and commercial properties.  With IT/ITeS sector still witnessing an upward surge, Pune will continue to see the influx of more white collar professionals, which will again increase the demand of flats for rent in Pune, along with other residential properties.  Another market, which is fast increasing its prominence is the high-end residential space for NRIs. Analysts report last quarter of 2012 itself saw an increase in demand by 20 percent to 30 percent. The biggest stabilizing factor for Pune’s reality is the absence of speculative market tactics and a good balance between demand and supply. 

Delhi Circle Rates May Be Hiked In Near Future

We all are aware of the fact that the economic slowdown has affected the businesses in India a lot. Now, the ghost of the slowdown has started haunting the Delhi government as well. According to the latest review of the condition of the state public revenues, which is led by chief secretary P.K. Tripathi, the government is quite worried about the realty sector of the country. The collections in the third quarter of the current fiscal year have been quite disappointing. The target was set at Rs 28,000 crore and the government was able to achieve only 40% of the overambitious target. As a result of the latest developments, the buyers should expect an increase in the circle rates of the properties in Delhi.

This has been quite a bad quarter for the government, and the collection of the revenues from value added taxes (VAT) and property registration from commercial real estate and residential real estate have been targeted as the top most areas. Overall, the expenditure for the current year stands at 31% of the total revenues of the current fiscal year. However, the data is higher if we compare the same to the previous year, which stood at around 26%. Still, the government is expecting more and is looking forward to strengthen its resources, which can fetch more profits. 

The most disappointing has been the VAT section, which was only able to meet 50% of the target set by the government, as quoted by the chief secretary. Other sectors that have also not shown any positive trend have been collections from stamp duty and registration of property and other documents.

One of the main reasons for such a condition has been the sluggish market, which has prevented many buyers to make investments. The investors and buyers have refrained a lot from the market, seeing the increased prices and low return on investments and the situation has been worsened by the inflation, which has risen to new levels. In addition, government imposed several restrictions on the registration of new properties, and because of this, less people show their willingness or came forward to register their properties.

To improve the stamp duty collections, the suggestive steps may be the revision of the circle rates at the earliest, so that a positive trend can be observed. As per the current scenario, the current market rates are not at par with the general prices of the properties in the posh localities of Delhi, such as Hauz Khas, Greater Kailash, Maharani Bagh, Alaknanda, Vasant Vihar, Defence Colony, Jor Bagh, New Friends Colony, Golf Links, Green Park, etc. It is being speculated that the process of revising the circle rates will soon be accomplished and will be presented before the cabinet, before the economic slowdown could hamper the real estate market of Delhi. It would be a great idea to wait until the cabinet passes any rule regarding the buy and sale of the property, so that one can earn benefits according to the standards set by the realty market.