Bangalore's Whitefield – An emerging real estate hub

The housing demand in Bangalore remained robust in the first quarter of 2015, with home sales showing up in high numbers and housing inventory falling to a lower number. Several micro markets in and around Bangalore are witnessing strong home sales this year making Bangalore take up the first positon in the real estate survey.  Though home sales picked up in the beginning of this years in slower pace, it has now starter to acquire a new momentum with many builders offering affordable houses in a small sized unit in the outskirts of the city. For those of you who are looking to buy a flat in Bangalore, this is high time to invest in areas such as Whitefield, Sarjapur Road, Electronic City and other areas around the IT corridor.

Whitefield, situated in the eastern part of Bangalore was just like a usual suburb of Bangalore until IT companies started to open their campuses here few years back. The main driving force of real estate in Whitefield is the IT corridor. This little micro market has now evolved itself into a major suburb with a lot of developed and developing infrastructure, job opportunities from IT companies, easy connectivity, and more. The real estate in Whitefield thrives well mainly due to IT population, who show a great interest in buying apartments for sale in this locality.

The major factor luring investors and buyers alike to real estate in Whitefield is the presence of several industries and IT companies in vicinity. Most people prefer Whitefield for its rapid development as a city and it social and physical infrastructure. It has a big mall, well-known restaurants, shopping centres, reputed educational institutions, multispecialty hospitals and much more to make people buy a flat in Whitefield. All these facilities make Whitefield an emerging real estate hub in Bangalore.

Not just known for residential properties, but it has equal demand for commercial properties as well. It has well-designed, international standard commercial space paving way for high office space absorption rate. But all these advantages of Whitefield have only helped in luring investors and home buyers towards it but did not increase the property prices to any unrealistic numbers. The prices of property in Whitefield are cheaper helping builders to buy and launch new residential projects at a rapid speed.

Not just developers and builders, but potential buyers also show interest in buying land here it offers high return of interest in near future. The prices of residential land in Whitefield have witnessed a four times growth in just 10 years of time. So people expect the same or even higher appreciation rate in future as well.

Turning from a small usual suburban area to a well-developed, most sought-after city, Whitefield has evolved itself with several new developmental projects. But even Whitefield has a small con on its traffic congestion, which will also be soon resolved with plans from the Karnataka police. Also the proposed Export Promotion Industrial Park by the Karnataka government is also expected to turn Whitefield into a most sought-after real estate market.

What makes Tambaram ideal for real estate investment?

The most happening hotspot in Chennai real estate in recent days is Tambaram. Tambaram is the southern gateway of Chennai. It has seen numerous developments in last decade that has helped Tambaram evolve from just a city outskirt to a large residential hub and a most sought-after locality. Tambaram has always been on news when it comes to real estate. Especially in the recent years, the number of new residential projects, residential plots for sale have been increasing a lot. The real estate projects in Tambaram is flooding in all kinds of real estate news in Chennai. Many real estate enthusiast expect Tambaram to witness a massive growth in terms of real estate and economic growth in another 4 to 5 years of time.

Ideal location, constant price appreciation, easy connectivity and presence of social and physical infrastructure makes Tambaram ideal for real estate investment. Separated by the railway station as East and West Tambaram, both the areas has its own positon in Chennai real estate. Various civic growth along this locality, presence of reputed educational institutions, road and rail connectivity makes both East and West Tambaram ideal for residential projects.

Though Tambaram is not closely located to popular IT hubs in the city, it offers easy road and rail connectivity to all important localities of the city. You can travel to any part of Chennai from Tambaram in MTC buses that covers most routes in the city offering easy accessibility to all the work places in the city. This is the main reason why people prefer to buy apartments for sale in Tambaram. Not only known for flats for sale, but there are also various plots for sale in areas in and around Tambaram such as Manimangalam, Mudichur, and Oragadam in Tambaram West and 

Tiruvancherry, Paduvancherry, and Ponmar in East Tambaram.

Close proximity to the International Airport, SEZ in Perungalathur, MEPZ in Sanatorium and other popular retail shops make Tambaram the most happening and most busy locality. Realty growth in Tambaram is mainly driven by manufacturing and commercial activities in this locality. Popular retail giants who were having their retail outlets only within the city limits have now started to launch their large outlets in and around Tambaram due to its growing demand and importance among the population. Commercial growth in Tambaram has lured investors towards it making many reputed developers to launch several new residential projects in Tambaram.

Tambaram also boasts good infrastructure, well-laid roads, and rail that contribute in upswing of real estate trends in this area. Apart from high demand for residential units, the rate of office space absorption is also very high here. Price is also another vital factor that fuels real estate growth in Tambaram. While you will have to spend more than Rs. 60 lakhs to buy a 2 BHK apartment within the city limits, you can buy one for just Rs. 40 to 45 lakhs in Tambaram without sacrificing on any basic amenities. The rate of appreciation here is also very good. You can expect a high return of interest from properties in Chennai.

Points to remember while choosing a Real Estate Broker

In India, a real estate agent is often referred to as a broker. The reason being, these real estate broker are not like the ones which you come across abroad. Here, they are just for setting up the deal and have no liability whatsoever about the property. However, in a market as busy and congested as Mumbai or any other urban metro in the country, Real Estate Brokers play a major role in pushing a property to a prospective buyer.

If you are familiar with a broker through any past references or a direct dealing, then you are in safe hands. However, if the broker you are dealing with walked up to you seeing an advertisement or is a person who has found you through contacts, you must be very careful. Here are a few points which you should look out for before trusting your property dealing or buying decisions based on their recommendations,

·         Experience matters! – As it is with most things that are associated with Real Estate, the experience of a broker too matters. If this is his first venture, the probability of him being taken for a ride by the other party is highly likely. Steer clear!

·         Double check contacts – If a real estate broker brings in a contact, do not go blindly by what he says! Check and double check the contact and the claims they make.

·         Check on previous clients – If the broker has introduced you to his / her past clients as a token of his experience, never hesitate to get a piece of advice from them.

·         Do your homework – No matter what the broker says about the buyer or the developer he is showcasing, do your own homework on the authenticity

·         Compare pricing – Do not ever go by the pricing which the broker claims to be the best or is the par rates of property in the locality. Always ask around and decide for yourself if you are getting the best deal

·         License – Though most property brokers in the country are not license to any governing body or organization, there is always no harm in asking them about it. If a broker is licensed to a governing body, he can be held answerable and hence could be more genuine. Some of the certifications available for Real Esate Agents are:

o   CRS – Certified Residential Specialist

o   ABR – Accredited Buyer’s Representative

o   SRES – Senior Real Estate Specialist

·         Tests – There is nothing wrong if you test the skills of a broker yourself. A good agent should have a thorough knowledge of the prices and trends in and around the locality.

·         Other Misc Points:

o   A real estate agent charges a percentage of the value of the property as commission for helping in closing the deal.

o   Never yield to pressure and close a deal. Take your own sweet time.

o   Avoid dealing with brokers who hold power, especially in high political positions.

o   Do not give anything in writing unless you are sure that it is going to work in your favor. Always get a legal opinion.

Kuldeep is a retired Navy Officer who follows politics to the tiniest specifics. He hailsfrom Mumbai and loves the street food there.

 

Prime reason to invest in Bangalore

In a recent survey conducted the online subscription based real estate data and analytics platform PropEquity, Bangalore is at the top position among the other 13 real estate destinations in the country. This survey was conducted based on the various factors including price appreciation, supply, sales, unsold inventories, delays in project completion and size of the market. Bangalore, which was in the sixth positon in the same survey conducted during the year 2009 has pushed itself up to reach the top position. Not just Bangalore, various cities down the south Chennai and Hyderabad has made it this time to take over the third, fourth positon respectively.

There are various reasons that play a key role in making Bangalore real estate stay steady and move upwards. Most vital parameters include, realty prices staying at realistic levels, real estate market driven by end users keep it alive, and developers are well capitalised. While these reasons help in keeping the Bangalore real estate well ahead among other cities, there are several other prime reason that make people to invest in property in Bangalore.
IT companies

Housing all popular multinational companies of the country, Bangalore has a huge professional populace. Approximately the city has 2840 IT/ITES companies including more 100 Fortune 500 companies. The IT/ITES companies in Bangalore has the highest growth rate compared to other cities. Not just IT companies, but it also has more than 31 industrial hubs including PSU’s as well as private IT/ITES, Bio-technology, Engineering, Aviation, Textile and other companies. Bangalore being the largest outsourcing hub has opened opportunities for a multitude of population. With IT industry mushrooming across the city, it attracts working professional from across the country there by increasing the demand for plots and house for sale in Bangalore. The growing IT populace has made a demand for living space and it is understood that the real estate market in Bangalore will always be in demand among investors.

Infrastructure
Well-laid roads, flyovers and highways help people to keep away from congested traffic during peak hours. Apart from this, the city is well equipped with all physical and social infrastructure required to lead a sophisticated life. It has well-reputed schools including CBSE, matriculation and ICSE, colleges. With a plethora of health centres, entertainment centres, and shopping mall, there will always be a high demand for flats for sale in Bangalore.

Land appreciation
The city has witnessed a constant increase in the realty prices in the last two years. Approximately Bangalore is witnessing a hike rate of 13% average annual appreciation in residential sector in the last 4 years. The land and flat absorption rate is also high here clearly indication the maximum demand met with supply. Appreciation rate of plots of sale in Bangalore has attracted towards it many investors.

Other factors
There are several other factors that make Bangalore an ideal investment destination. It is one of the safest place in the country. To top all the reasons, the climatic condition of Bangalore has made it loved by everyone. People who move here for the purpose of the work from other cities, are much interested in buying apartments in Bangalore for its affordability and climatic conditions as well.

Bangalore is turning into a luxury home destination

Bangalore has always been a robust market when it comes to real estate. The rapid urbanization, flourishing IT companies and industries, affordability, infrastructural developments and increasing population has increases the demand for house for sale in Bangalore. Apart from affordable housing, the demand for premium apartments and luxury villas have also increased in Bangalore. The real estate in Bangalore is driven mostly by end users, comprising of professional working populace and NRIs.
Also in recent days the number NRIs investing in villas and apartments in Bangalore have increased considerably. There are a several factors that actually help in attracting NRIs to invest in Bangalore.

When you take a big picture of the real estate market in the countries, only very cities have been stayed robust in past few years while real estate in other cities such as Mumbai, Kolkata and Gurgaon have been volatile. This robust real estate market is the main reason to attract investors from overseas. Some of the other reasons include higher capital appreciation, increased rental rates, easy and convenient investment norms by Indian government and foreign direct investment facilities. In particular these NRI populace concentrate more on luxury villas and independent house for sale in Bangalore.

With several luxury projects from reputed builders, high quality construction, timely delivery, high-end design and interiors, filled with all amenities and many more aspects help Bangalore to win the race in luxury home sector among Mumbai and NCR. Also while premium apartments and villas in Mumbai, NCR and Thane have unrealistic or huge price tags, the affordable prices of apartments in Bangalore have also made NRIs turn head towards Bangalore real estate.

The prices of luxury flats for sale in Bangalore is somewhere between Rs.5 crore to Rs.30 crore. Though this value may seem higher but when compared to other cities these rates are 30% to 40% lower. The city also offers several luxury apartment projects for reasonable prices. While Bangalore can show a sales report with 100 luxury villas or apartments for every quarter of a year, Mumbai and NCR are able to sell only between 10 to 20 luxury apartments.

The improved infrastructure have also made people to invest in luxury apartments in Mumbai. This has made Bangalore more popular among high net worth individuals who invest in luxury property in Bangalore. On the whole the demand for luxury homes in Bangalore is fuelled by NRIs, high net worth individuals, and millionaires from IT/ITES sector. The demand for luxury houses were once subdues in all metro cities during past few years but it has now started to pick up pace with Bangalore leading the market now to be followed by Mumbai and NCR. Bangalore with developed infrastructure, shopping malls and more support the sophisticated lifestyle led by the NRI, HNI population and also the original inhabitants of the city. For all those NRIs who look out for a luxury home to spend their vacation in home country, Bangalore everything to cater to their requirements.

The moderately good climatic conditions and profitable employment prospects in Bangalore have also attracted middle income group people to invest in flats in Bangalore.

Where can you invest in Gurgaon?

Gurgaon is one of the most sought-after real estate destinations in the National Capital Region. Like any other city in India, real estate is considered as the best form of investment even in Gurgaon. Before you decide on investing on Gurgaon property there are many things that you need to understand. You should know the current market value of the property in Gurgaon, compare the rents and property values with its neighbouring cities, understand the governing real estate laws and more importantly you should know which place in Gurgaon is ideal for your investment. Be it with regards to cost, or its location, accessibility, infrastructure, and other amenities, selecting the right place of investment is very vital. There are various benefits in investing in Gurgaon property such as clean and clear transaction deals, high return of interest, small value investment options and availability of land and apartments for sale in Gurgaon. Few real estate destinations in Gurgaon includes

Sohna Road

Sohna is a town and municipality in the Gurgaon District of Haryana. This small town emerging as a popular residential hub if the city. Located approximately 24 kilometres away from Gurgaon, Sohna road is facing rapid development in terms of infrastructure, new residential projects, and more. It house varies affordable investment option in both plots for sale and flats in Gurgaon. To meet high demand from the end users, builders are offering 1, 2, and 3 BHK apartments at realistic prices in Sohna Road. Also the well-laid, wide, six-lane road that connect Sohna with Gurgaon makes it ideal option for people working in Gurgaon.

Sector 43, Gurgaon

Its close proximity to the DLF Golf Course makes this area an ideal investment destination for professional population. There are several new projects being launched here that offers 1, 2, and 3 BHK apartments for sale in Gurgaon, multi-storey apartments, villas, residential bungalows, and individual houses.

Sector 51

This location came into sudden limelight last year due to its high price appreciation in a short duration. It is located in proximity to the Golf Course Road, Golf Course Extension Road, Sohna Road and NH-8. This well-planned region is well connected with neighbouring cities and sectors with well-laid road. It also provides all basic civic amenities such as water and electricity supply, proper drainage and sewage systems, and more. It also house reputed educational institutions, health centres and shopping centres. There are a large number of apartments for sale in Gurgaon Sector 51.

Sector 68

It is located very near to the Sohna Road and it is also known for high price appreciation of Gurgaon properties. It is connected to the Golf Course Extension Road and the proposed metro rail project is also expected to rise the demand for properties here. This is a rapidly developing location in Gurgaon and if you are planning to buy a flat in Gurgaon, this is the right time to invest in Sector 68.

Sector 43

This area is most sought after in Gurgaon due to its close proximity to the DLF Golf Course. With several commercial offices, malls and hotels, this is a fast paced developed location in Gurgaon. Though the prices of property in Gurgaon Sector 43 is high, it will surely have high return of interest in future.

Increasing Demand for Residential Apartments in Trichy

Trichy: The rapid increase in the price of residential land and individual homes in the city are making the people prefer apartments. Currently, the residential developers in the city are focused on construction apartment projects in Trichy that meets the needs and budget of every home buyer.

Through the builders have started to develop apartment projects in the city before 20 years, the demand for these types of residences have increased gradually. In the recent times, the real estate and construction fields are going at a dull pace. However, the flat promoters in the city are ready to launch new residential apartment projects in Trichy. As of now there are totally 120 apartment projects are under construction. .

According to the sources, the skyrocketing prices of the unapproved vacant plots is making difficult for the people to buy an individual house. Thus, the people have shifted their preference on to apartments in Trichy. Besides, most of the land promoters are not approaching the local planning authority (LPA) for approval, as they are not ready satisfy norms like broad roads.

To increase the demand for apartments further, the Confederation of Real Estate Developers (CREDAI) has recently conducted a three-day Fairpro-2015 to grasp the attention of the home buyers.   

The flat promoters in Trichy are focusing on developing apartments within the city limits. The price of the apartments that located in the main roads of the city are high when compared to the inner roads. According to sources, the price of an individual house located within a city limit is expensive. Thus, the home buyers are buying apartments which are available at affordable rates. Further, the resale value of the apartments in the city will increase in the future, as the city is witnessing an enormous range of developments in terms of infrastructure and industries.

The price range of 1 BHK, 2 BHK and 3 BHK apartments is ranging from Rs 25 lakh to Rs 1 crore. The price is fixed based on the area. Also, the price varies according to the number of amenities available in the residential apartment.

It is expected that the price of the residential apartments will increase in the next three months, as the cost of the construction materials has raised up.

When we consider these factors, it's the best option to prefer a residential apartments in Trichy rather than expensive individual houses.