Buying Property in Ghaziabad would now cost you more

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Remember the uproar that was created with the release of the movie 'Zilla Ghaziabad'? As the city was   portrayed as a nerve center of the worst form of crimes, people objected to it vehemently. Well, the city is indeed a hub of several nefarious activities. But all this ruckus did not deter the end-users from buying property in Ghaziabad. May be it is the affordability thing that has made people overlook the negative factor. As a matter of fact, the inquiries for the residential spaces have increased manifold in the recent months. As per a report of HT, there has been a phenomenal raise in the number of property interrogatories in the first quarter of 2013.

The prices, in such a scenario, are doing what they always do.... As the demand for flats in Ghaziabad has been an upsurge, the prices too are escalating, as high as 40%. This is a practically good situation for the investors who are eying on long-term profits out of their money. Seeing the hike in demand has further benefited the builders  as they have put a stop to the discounts on hoses rates they were offering hitherto.

Some of hot localities where the demand has escalated include Raj Nagar Extension, Vaishalli, Indirapuram, Vasundhra, and Crossing Republik. The prices of Ghaziabad flats in these areas have grown up anywhere between 3-30%. The price per sq. ft in Vaishalli in the month of August stood at Rs. 5880, a 21% increase from past one year. At Vasundhra, the psf has undergone a 19% hike, the value in August being Rs. 5415. The more affordable localities are Raj Nagar Extension, NH-24, and Crosslink Republik. In these areas, the psf ranges between Rs. 2500/- and Rs. 3500/-.

The prices, in spite of their recent hike, are still affordable for buyers seeking property in Ghaziabad. At Indirapuram, a 2 BHK flat can fall in the range of 30k-80k, depending upon the sq. ft area covered. Vaishalli is much cheaper: for a 2 BHK, you need to pay around 30-45k. And Raj Nagar is even more cheap: the price range of 25-30k for a 2 BHK isn't a big ask from you. Is it?

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Indian Real Estate Saga: Soaring Prices, Dwindling Demand

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Indian real estate is burgeoning nicely, from year to year, and from decade to decade. Though the extortionate prices and scams have diluted its stronghold to some extent, It is still going great guns. The demand may have seen a depreciation in  cities like Delhi/NCR, yet the call for properties is very much there in the scene. And why that shouldn't be? With the population boom, the demand for both residential and commercial spaces is bound to prevail. The upper-middle and the elite class have a predisposition towards luxury houses and plush villas. Thanks to the  cornucopia of wealth that they possess that the demand for extravagant housing never ceases to exist.

As far as the middle-class is concerned, the real estate scenario says a different story. The considerable appreciation of rates has staved them off from buying even 1 or 2 BHK flats. Go and hunt a 2 BHK in the localities of Delhi like Kalkalji, Rohini, Vasant Kunj, Malviya Nagar, Chankya Puri, Golf Links, Sirifort Road and you will rarely get one with price below 50 lakhs. In certain localities, you will find a 2 BHK flat costing you as high as one crore! Of course, this middle-class is unable to invest their savings on such a high-valued property, so they end up cheaper localities, much below their expectations and preferences.

Same is the case with the rest of the country. Hebbal in Bangalore has seen an appreciation of 58%,  highest among all the Indian cities. In Hinjewadi too, the prices have escalated by 50% in the first quarter of 2013. Dwarka Expressway in Gurgaon, Kalyan in Mumbai, Gachibowli in Bangalore say the same story. The developers have successfully created an artificial demand for soaring the prices, thereby denying the access of ordinary buyers to the fruits of property in India.

So, what our covetous developers are doing now? In order to save the dwindling demand, they have now resorted to providing exclusive offers and tying up with international brands. But that too would work well for the upper strata and not the middle-class buyers. There is dire need to break this property bubble and let the prices correct. Once the bubble bursts, real estate India shall touch new heights.

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Property in Navi Mumbai: The Present Scenario

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Mumbai, for its larger part, was created without any concrete developmental plan. If you have ever been to this city, you must have seen the disorganized way in which the whole city stands. But if we talk about Navi Mumbai, the things are a bit different...It was carved out to decongest the metropolitan of its excess population and traffic. It was the first planned urban township of the metro that came into existence and  has put forth a new dimension to the realty market. In this blog post, let us talk about where the property in Navi Mumbai is heading to.

There are several small townships that exist within this planned township: Vashi, Ulwe, New Panvel, Taloja, Khargar, Sanpada, Kopar, Airoli, Dronagiri, Kamothe, and several others. From the beginning, these were expected to carry good real estate potential. The infrastructural development in the form of shopping complexes, hotels, IT parks, software giants reinforced the Navi Mumbai real estate to a considerable extent. This gave developers opportunity to raise prices so much so that the localities are now losing their tag of being 'affordable'.

The price rates in towns like Ulwe, and New Panvel have seen considerable price appreciation, in spite of the fact that they do not have adequate infrastructure and transport connectivity. Yet the builders are not willing to roll back the prices for property Navi Mumbai. The efforts of the government authorities to initiate frameworks of several projects too have gone awry. The delay in development of an airport in Ulwe is attributed to the opposition by the local inhabitants. Similarly the Sewri-Nhava Mumbai Trans-Harbour Link has suffered a major setback. Add to this the lack of amenities that have contributed further in waning of buyers' interest.

A 950-1070 sq. ft 2 BHK flat in Khargar, Sea Woods, Kamote, Pen, Ghansoli, and Taloja ranges anywhere between 70 lacs and 90 lacs. At Ghansoli, the prices are even higher: a 1100 sq ft. flat is available as high as 1 crore.

So, you see that Navi Mumbai has still to tread a long distance before it could stand out in the realty market.

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Real Estate Pune driven high by IT

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Pune has been acting as a nerve center of India's most distinguished and top-notch IT/ITES companies from several decades. Concomitant to this growth, or say born out of this boom is another sector that has been prospering well and plodding positively on the graph: Real Estate. To accommodate the rapidly growing populace, residential property in Pune got bigger so much so that today, it is seen as one of the lucrative markets for both buyers and developers. The regular need for residential and commercial spaces has resulted in better consumption rates as compared to the other cities. So, the demand-supply imbalance and the stocks of vacant inventories are not the major problems here.

As the city is largely inhabited by students and professionals relocated from different parts of the country, the demand for Pune property is predisposed towards multistoryed apartments.  The commercial property in the city has predilection towards HNIs (High Net-worth Individuals) who are eying on long term investments. At present, the real estate is facing competition from metropolitan cities like Hyderabad, Bangalore, and Chennai. Yet, the presence of IT hubs like Hinjewadi, Koregaon, and Baner has given it a definite edge over them.

Hinjewadi is seen as the micro-market for real estate Pune and employs more than 70,000 IT professionals. Housing almost all the major IT giants and multi-million projects laid down by international companies, the locality is a preferred choice for buyers. The property rate this July stood at Rs. 5269/ sq. ft, a 40% appreciation from last year. Hadapsar, another locality that is home to IT parks and seeing huge price rates. Over last 12 months, the price rates increased by a whopping 41%, with average price rate of Rs. 5185 psf (per square feet). A still higher rate is noticed at Pimple Saudagar, a locality near Hinjewadi.

The highest India property rates in Pune are found in Koregaon, a high-profile commercial market. With the present rate of Rs. 10733/ sq. ft., the place is out of the reach for average buyers. The other localities where real estate is seeing a steady growth are suburbs like Kothrud, Wakad, Baner, Viman Nagar.

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Property in Navi Mumbai to be Benefited by Infrastructural Projects

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Mind buying a real estate in Navi Mumbai? The city has already got tagged as being the top 6 most preferred locations in India and with several mega commercial projects coming on the scene, it can  easily be seen as the center of attraction for both bigwigs and common buyers. One of the fixins that have worked in its favor is the presence of affordable Indian real estate market. As per the analysis done by JLL(Jones lang LaSalle), the market trends shall continue in its favor and prices would continue to appreciate in the years to come.

Let's talk of Ulwe, a locality known for its planned structures and an upcoming airport project. Though the airport project is suffering from setbacks, yet when it comes into being, it shall relieve a big part of air traffic. Then, there is another project called Seawood-Uran rail network that is going to give a boost to the connectivity to other places. It is due to the bright prospects that the city carries with it in terms of infrastructural development that it is a much sought-after localities for buying flats in Navi Mumbai. Another favorable factor is affordability in terms of property prices. In July 2013, the rate/ sq. ft was Rs. 4663, much lower as compared to localities like Nerul and Seawoods.

A few other enterprises by some leading companies have been rolled out in the city. One such is by Cognizant Technology: A 23000 sq. ft. space to be used as office is coming up in Airoli. RIL(Reliance Industries) is considering relocation of its present office in Mumbai to Ghansoli. IBM   has proposed to start a work recovery center. These projects are going to give properties in Navi Mumbai a further boost. Considering this, it would be a good idea to entrust money into real estate investment here. In the last one year, the prices rates have appreciated by about 6%.

In localities like Nerul, Seawoods, and Ghansoli, the rates are quiet high. Occupied mainly by affluent population, Nerul and Seawoods-Darave together form the costliest places to live in Navi Mumbai. Theses localities owe their high rates to the planned constructions and good infrastructure. The price rate in Nerul this July was Rs. 9471 psf while in Seawoods, it was 8880/-. It is followed by Ghansoli  (Rs. 7368) and Khargar (Rs. 6499).

To locate properties in Navi Mumbai and other Indian cities, search our website Makaan.com. The portal lists properties like apartments, villas, lands, warehouses, and office spaces to be used by different types of users. The properties can be searched on the basis of their location, prices, age of construction, and amenities provided. 

The Ahmedabad Property Bubble Dripping Slowly

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With the news that the property bubble is swelling to its maximum in Ahmedabad, the predictions that it would soon burst too are circulating the circuit. The city followed Delhi and Mumbai trends in exorbitant price rise, thanks to the developers alleviating the rates to pocket more profits. The obvious result of this is that locating an affordable property at Ahmedabad has become problematic for a middle-class buyer. This resulted in downfall in demand and so, the demand-supply ration lost its balance. At present, there are localities where there are no takers for the properties built under world-class names. This will soon rupture the bubble and the price correction would indeed take place.

As a common buyer is not interested in getting hold of the inordinate Ahmedabad properties, several larger-than-life SEZ projects have come to a halt. This has already started pricking the bubble and it would soon puncture. Thogh the prices are still on a high in localities like Vejalpur, Satellite, Bodakdev, and Vastrapur, the overall rate in the city has noticed a decline of about 2% over last one year. The real estate developemnts are more prominent in the western region that includes localities like Bhopal and S.G. Highway.

The rates are touching a high in hot localities: in Satellite, the price rate stood at Rs. 4879/ sq. ft. and in Bodakdev, it is Rs. 5203/- this July. With a lower value of Rs. 3195 psf, Vejalpur can be seen as an affordable property at Ahmedabad. In the first quarter of 2013, a multitude of affordable apartments have been launched by some well-known developers; the new launches are seen in localities like Vastrapur, Satellite, Thaltej, Ranip, Naroda, Narol and Ashram Road. With the recent interest of some renowned names like Tat Housing, Godrej, and Adani initiating low-cost developments, the buyers from middle-class segment can now take a sigh of relief.

In spite of not-so-favorable trends in the city, buyers are still looking it as an investment option: the dearth of space and over-congestion in other metros has brought it to the limelight of people on the look out for property.

Over India's leading real estate portal, Makaan.com, buyers can look for properties for buying/renting/leasing. The properties from leading cities with an array of prices and amenities have been listed here.

Hot Localities to find a Property in Chandigarh

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With contaminated air taking a toll of health, over-congested roads getting on your nerves, and not an inch spared to move about freely, living in metropolitan cities like Delhi/NCR is more of a problem than a luxury. So, people have started looking for other options: Chandigarh, with its fresh air and serene climate, is one of the cities that people are now considering as their investment destinations. Buying a Chandigarh property incan be both lucrative as well as affordable. Let's see why.

The property rates are lower here, much below than that in Delhi, Gurgaon, or Noida. This makes buying a house or villa affordable in terms of prices. Invest on low rates and expect good returns a few years after. In fact, the recent hike in demand has already led to the escalation of prices. If this continues, real estate Chandigarh shall be seen as a lucrative market, both for developers and end-users. With prominent names like DLF and Omaxe gaining good footing here, the buyers can expect houses with the same facilities as that available in a world-class project. Still, the infrastructure is not up to the mark in many localities.

Let's have a look over Zirakpur, the satellite town located in the Shivalik foothils. As far as real estate Chandigarh is concerned, Zirakpur stands out among other cities: decent infrastructure, availability of luxury houses, and low cost of operation make it a city worth trying for, though most part of it is now already occupied. The price rate in the April-June, 2013 stood at an average rate of Rs. 3011/ sq. feet.

Buying an apartment at VIP Road gives you good connectivity with important commercial centers. The property price in the current quarter is Rs. 3028/-, relatively higher than what you find at places like Dera Bassi, Ambala Highway, and Patiala Road.

Panchkula, another satellite city, reflects an entirely different scenario. The rates are quiet high here; buying a flat here could cost you anywhere between 40 lakhs  to one crore, and even more. It is one of those Chandigarh properties that are out of the gamut of a common man. With an average rate of Rs. 5893/ sq. ft., it is not possible to look out for affordability, specially within sector 20. The other thing to note is that the prices here can increase drastically even within a few days.

Makaan.com is a Indian real estate portal that showcases properties from top-class builders and land owners. Here, buyers can look out for flats, plots, bungalows, office spaces, shops, and warehouses that come in different price ranges and types.

Faridabad Property: An Economical Option for Buyers

Given a choice to buy property anywhere in Delhi/NCR, what would be your preferred location? Most votes would come for Gurgaon or Noida, Isn't it? What about Faridabad? You may seem skeptical about this city, given that only little is known about its prospect as an investment option and the other two cities take all the limelight. If you are keen on buying a property in Faridabad, there are so many factors that back the city as brining good returns.

The presence of good infrastructure has been the cornerstone for Faridabad real estate. The city houses several of central government offices, renowned manufacturing industries, and IT companies. The connectivity to the surrounding cities via NH-2 and the upcoming Yamuna Expressway that is built to relieve NH-2 of the congestion make the accessibility far too easier and less time-consuming.  So, commuting won't be an issue on day-to-day basis, if  that is an issue with you.

With some of the renowned developers like BPTP, Omaxe, Anjara, and Ansals getting a strong foothold here, the availability of flats with top-class amenities make buying apartments in Faridabad a good option. With the availability of land to develop and thinly populated localities attracting more investors, the city would soon be seeing more skyscrapers dotting the skyline.

The one thing that gives the Faridabad property an edge over other cities of NCR is the low price rates. So, affordability is the biggest factor why an average buyer can hope to buy a house here. Unlike Gurgaon and Noida where the rates are always sky-high, this city offers economical options. As more people are now seeing as one of the options, the price rates have started escalating here too. An increase of about 24% was recorded in the price rates/sq. ft in the past one year. And the price stood at Rs. 3862/sq. ft. in July, 2013, with the rest of Delhi /NCR standing at Rs. 5169. The upcoming electrification projects are going to boost the status of the city in terms of real estate. These  power plants are expected to generate1500 MW of electricity after becoming operational.

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Flats in Ghaziabad Benefited by Excellent Connectivity

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A few years ago, buying a properties in Ghaziabad could raise eyebrows from your friends and acquaintances. But, if you are doing it now, you keep a wise head over your shoulders. The city is not longer an unheeded and overlooked place, lying tucked away in a corner of U.P. I mean, just look at the stupendous rate at which it is growing: sky-high structures, multi-screen theaters, swanky malls, opulent houses, and modish hotels have dotted the city-line. And connectivity? It is becoming only better with every passing year.

There are many developments there are going in favor of the prospective buyers of Ghaziabad flats. The Link Road that is being constructed between the city and Greater Noida has attenuated the traffic and congestion problems over NH-24 and the commuters need not think twice before looking for a job opportunity or buying a house in the either city. With better bracketing, the probability of people settling in the city has increased considerably.

Crossing Republik, the much publicized project aimed at bringing the ultra-modern conveniences to property buyers, is a venture of seven leading developers across the country. With the kind of expertise and experience that these world-class property builders can bring into housing development, the results can be amazing  With the plentiful of housing projects at hand, the dreams of many who are seeking flats in Ghaziabad shall see the light of the day. Then there is FNG corridor project. It was initially planned to provide connectivity among Faridabad, Noida, and Ghaziabad, but was jettisoned later. In 2012, it was revived and more than 60% of it is now complete. Though it shall not be connecting Faridabad anymore, the other two are going to reap the benefits in terms of real estate.

The excellent connectivity has attracted lucrative real estate projects and so many Ghaziabad properties are now booming along highways and corridors. Developers such as Ansal Plaza, Supertech, Amrapali, SARE Group, and others have already set up momentous projects, aimed at providing plush flats in Ghazibad city.

Search and locate properties for buying and renting over India's leading property portal, Makaan.com. Here, buyers can choose property in terms of locality, dimensions, price, and amenities offered.       

Investors eyeing to invest in Bangalore property

Bangalore is a lovely city with pleasant weather and geographical location. The excellent connectivity and job opportunities make the city a highly preferred destination to live in. With people searching for properties to settle down in the city the demand for Bangalore property has increased both in the domestic and global realty market.

Although the city has witnessed a demand of property, buying a property in Bangalore has become costlier. The city’s residential real estate market has grown over the years and recently more than 35,000 residential units were launched to meet the housing demand.

Bangalore property is considered to be lucrative and so it attracts investors both within the city and overseas. With the launch of residential units the absorption rate has also increased. Among the various locations of the city, South Bangalore has witnessed the highest number of new launches. The areas attached to the outer ring road are some of the prime residential locations that working class highly prefer because of the excellent connectivity to the offices.

The North Bangalore is preferred for both office and residential space. In this region, construction of various housing is in the pipeline. As more major developers are entering the real estate market to meet the housing demand it is expected that the prices will be slashed which in turn will benefit home buyers.

With the coming of new infrastructure projects, the value of Bangalore properties has escalated. Moreover, the government is also framing policies and infusing crores of rupees to boost the infrastructure of the city and improve the standard of living. However, it is a known fact that with the new infrastructure projects with shoot up the value of the Bangalore property.

According to reports, the city is best for expatriates to live in. Expats always prefer for rental flats Bangalore  so that they can easily shift in the future without hassle. Moreover, with the coming of new multinational companies setting their corporate offices in the city the demand for rental flats in Bangalore has increased.

Buyers have become cautious and instead of relying on real estate agents, they are searching for flats in Bangalore with the help of realty websites. The realty portals let them browse for properties, developers and compare prices according to the budget.

Bangalore property has emerged as a favorite investment destination for investors. With premium villas and luxury flats are coming the value of the properties are expected to increase manifold.

Property in Noida: Becoming a Hub for Under the Table Activities

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The hot news, just out from press, says that sand-mafia is operating on a wide scale in Noida and Greater Noida. Property in Noida has remained a lucrative business for constructors and land dealers. To comply with the high housing demand, they have developed a nexus with police and politicians, thus carrying out all sorts of illegal activities, and that too fearlessly. In order to carry on with their felonious trades, the people involved in unlawful practices have no qualms about killing anyone who tries to expose their deeds. July 31, 2013 saw an activist gunned down by mafia; he was protesting against their illegal mining activities. The situation is really an eye-opener.

Noida properties has been in the front-page news for some wrong reasons or the other.  A few weeks before, we heard about booming of illegal colonies in Greater Noida. The buyers of Noida property are misguided about the registry and many of them get to know of the real facts after they become the occupants. The worst effected is the area around GT Road: about 60% of its land has been taken over by unauthorized colonies. Recently, to go one-on-one with these, the authorities have demolished many of them. But the situation is alarming. With illegal properties in Noida built on an accelerated rate, it has become very difficult to annihilate them all.

The corruptive people involved in such activities are able to dupe the common buyers by hiding the crucial facts and beguiling them in every possible way. The colonizers are able to produce fake documents by collaborating with police and are able to dupe people into buying illegal inventories. Even if they get caught under legal rules, they walk away freely, thanks to the tutelage provided by politicians and law protectors.

Before you make up your mind in buying any property in Noida, scrutinizing on a deeper level can be help you take the right decision. Inquire about it from the sources available. Keeping yourself well-informed can prevent you from signing any dubious deals.

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