Inflation has not Plummeted the Demand of Residential Property in Pune

While the news of plummeting in demand has been coming from one state after the other, the realty market in Pune seems to drifting in the opposite direction. Over a month of last six months, residential property in Pune saw an influx of about 21%. With more than 400 projects having been launched during this period, and the sell-market going strong, it is clear that the property market is performing well enough. Though the number of inventories lying vacant/unused is around 20%, yet the demand is going steady. In micro-markets too, a good escalation in demand has been witnessed. The time is ripe for those buyers who are interested in investing on premium properties, as the number of such projects  rolled out recently is pretty high.

As far as land for sale in Pune are concerned, the rates vary from one micro-market to the other. The localities where the average per square feet rate lies within the range Rs. 2000-4000/- include Dehu Road, Fursungi Gaon, Manjri, New Sanghvi, Talegaon, Chakan, Moshi, and Mohammadwadi. In areas like Viman nagar, Wakad, Lullanagar, Kharadi, Hadapsar, Hinjewadi, Pimpri Chinchwad, Singad Road, Vishrantwadi, Warje, Chinchwad, Katraj, Chikhali, and, Wakad, you can expect the higher range: Rs. 4000-7000/ sq. ft.

If one is on the hunt for premium residential property in Pune, localities including Erandwane, Balwadi, Bibwewadi, Koregaon Park, Magarpatta, Shankarseth Road, Baner, Kothrud, Kavre Nagar, and Shivaji Nagar can offer you a lot of options. The real estate prices in Pune, specially in Shivaji Nagar, Karve Nagar, Kothrud, and Koregaon can cost as high as Rs. 12000-13000/ sq. ft.

It's Pune's excellent backing by infrastructure, better connectivity, and several upcoming developmental projects that the realty market has not really fallen prey to the current recession and inflation in prices. As the economy here is still standing on its own feet, there are a  number of options available to both a buyer as well as an investor.

Buy, rent or sell residential property in Pune and other Indian cities over real estate portal, Makaan.com. The India property websites offer an intelligent way of going a map-based and list-based search, and allowing the users to get selective results.

Flats in Mumbai: Skyrocketing Prices and Dearth in Demand

Buying flats in Mumbai, these days, has remained the sole privilege for the very affluent class, especially in the areas like Andheri and Goregaon. Even an unfurnished, 650 ft., 1 BHK flat in these areas and the like ones, can cost you anywhere between 60 lacs and 1 crore!! So, even after spending this stupendous sum on a 1 BHK, and that too unfurnished, what are you getting? The property bubble in Mumbai has swelled too much that it can burst any time now. Even in areas alike Thane and Navi Mumbai that were supposed to offer the affordable housing to middle and lower-middle segments, are ranking high in terms of price rates. What could be the reason behind such a catastrophic rise in rates?

The inflation that hit the Indian market recently resulted in an appreciable increase in the cost of construction materials like sand, cement, steel etc. To compensate for their invested money on these, developers started raising the rates. But they were not fair in doing so: they let the prices get appreciated too much, so much so, that the Mumbai flats gained a considerable raise in terms of prices. The greed of developers and builders, along with their nexus with political authority gave them ample freedom to appreciate the prices too much.

Seeing the hefty rates, the demand for flats in Mumbai came to an all-time low. Even the middle and upper-middle income groups started wavering from their decision to buy. In spite of the fact that the demand dwindled, the developers did not lessened the rates. Instead, to bring back the customers, they came up with offers like freebies and small discounts. But this strategy of theirs has not brought any fruitful result. As long as the prices do not get corrected, it would be difficult to see the demand get any increase.

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Accretion of Prices for Flats in Pune

The erstwhile affordable city Pune seems to shed its tag, as is clear from the accretion of properties here. The city, better known for large IT firms and corporate culture, has started aping the other metropolitans in terms of price. To buy a 2 BHK flats in Pune now, you need to put in more money. Though the localities out there offer a number of flexible options in terms of affordability, the city is seeing a good appreciation of prices. Seeing the current inflation that has wrecked Indian economy, the demand for residential and commercial properties has dwindled. Still then, the prices in areas like Koregaon Park and Kharadi are touching crores.

For budget buyers, however, there are a few options. Localities like Wagholi, Hinjawadi, Talegaon are good for those buyers of flats in Pune who don't have substantial income to invest in high-segment properties. Take the case of Wagholi: the average per square feet rate here is Rs. 4349/-. You can buy a 2 BHK in the range falling between 30-40 lacs. At Talegaon, the rates are much lower. Flats with 2 rooms can be purchased in the range18 and 25 lacs. Hinjawadi, that caters to needs of buyers from different price brackets, has budget houses as low as 15 lacs, though the properties with higher prices too are available. The other budget options are Undri, Hinjawadi, and Wakad.

Talking about the needs of upper-middle and affluent class, Pune has a lot to offer to them too. A 2 BHK flat in Pune in the areas like Koregaon Park, Viman Nagar, Kothrud, Kharadi, and Mundhwa can cost you a crore or more. At Hinjewadi, Balwadi, Dhanori, Baner, and Vishrantwadi, the apartments fall in the price bracket 35-65 lacs. Pune's real estate is faring well this year, thanks to the never-ceasing demand.  The city sees a huge influx of population from other cities year after year, thus paving way for huge demand.

At Makaan.com, you can buy, rent, or sell flats in Pune, and other Indian cities. This real estate website offers plethora of options for properties, in terms of price, location, and type.

Question to Ask your Landlord before you Hire a Flat on Rent

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Are you living on a flat on rent? Or are you going to move in one soon? In either case, there are certain important things that need a clear-cut clarification on both the landlord's and your (tenant) part. What are these question? How can you assure that you won't be bothered in future, if he comes to you with some terms that were not earlier aware of? What if he comes up one day and asks to pay xyz charges that you weren't expecting at all ? Let us ponder upon such questions that you need to ask him before shifting in the flat for rent. Please note all of these must be documented in the form of an agreement license, and not merely discussed verbally between you two.

1. Ask for the total monthly rent that you shall pay to your landlord. Know about the charges involved in the total amount. It may happen that the owner does not clarify in the beginning the extra charges he is going to levy. Get to know if the total monthly rental includes other charges like water & electricity bill, maintenance charges, and security charges too. If they are not, confirm what extra would you need to pay him every month?

2. Ask for the ownership documents of the flat on rent. The name of the real owner of the property should be explicitly mentioned in the licensee agreement. If the property is on anyone else's name, ask the landlord to mention the same on the legal document.

3. Just as you, as a tenant, shall be furnishing your identification and job details, ask for the same from landlord too. Cross check his details with the concerned authorities.

4. If you are going to hire flats for rent that have been completed only recently, ask the developers to furnish the completion certificate. Make sure that the property has not been previously sold to anyone else.

5.  Confirm the total amount of deposit to be submitted at the time of moving in and the time after which it shall be paid back to you. Under no circumstances, you can be asked to vacate the flats on rent until you have been paid back the total deposit amount.

Buy, rent, or sell properties, both commercial and residential over real estate property sites, Makaan.com. Over this leading property website, you can find lacs of properties at your disposal, listed from different cities across India. Choose on the basis of price, location, and type of property.

Real Estate Gurgaon: Going from High-Rise to Rock-Bottom

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Lofty buildings and towering structures are the hallmarks of real estate Gurgaon. In spite of the appreciable space present for horizontal construction, it is the vertical elevation that is more prominently seen. The capital city Delhi, after tremendous construction, got saturated as far as the space for property development was concerned. So, the developers started looking elsewhere to keep their businesses going. And one such city was Gurgaon; it had huge market potential to become a real estate hub. The result is all before us... At present, the city is the prominent property market and attracts the investors as well as the end users equally well. Some of the major players like Emaar MGF, Unitech, DLF, and many more have made their presence felt in the housing industry.

Luxury houses laced with all the modern conveniences and carrying excellent connectivity, gave Gurgaon apartments an edge. They also pulled a huge chunk of comfort-seeking opulent class who displayed interest in buying property here. Even the upper-middle class too found the market lucrative. What was the result? As the demand for real estate Gurgaon reached its zenith, the prices too started escalating accordingly. But soon, the developers took it as an opportunity to fill their pockets. They created can artificial property bubble and never let the rates go down. As the prices were increased considerably, even the elite class found it difficult to make purchases.

What was the effect? The demand started receding, and at present, people are not finding it viable to invest into properties in the city. Even this too has not put a stop to the cash-seeking bellies of the developers, and they have now resorting to other means to attract clients. But as long as the prices remain high, their hopes shall remain hopes.

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Good Days are here to come for Noida Flats

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The buyers of Noida flats have now several reasons to cheer up and  buy their dream house in this city. Of late, there have been several developments that have come over as a blessing to the prospective buyers. Recently, the developers in the city had been doing a wily-nilly to get the buyers apprised of the status of the houses under construction. The buyers who had got tired of the repeated reluctance of these developers, have now got a reason to smile. As per the order of Yamuna Expressway Authority, these developers shall need to upload the construction status on their official websites. With this, the users won't need to step out of their houses and knock the door of their builders to fetch the information.

A number of new projects have been launched of late. Victory Infratech has come up with 3 and 4 BHK Noida apartments. These shall be the luxury houses, interlaced with all the mod cons of an avant-grade lifestyle. Tucked amidst greenery, these apartments shall come in sizes more than 1400 sq. ft. Another developer that is making waves by its low-cost Noida flats is Gaursons. It is all geared up to launch plush studio apartments and that too at reasonable rates. These flats shall sprung near DND Flyway and shall have excellent connectivity to Greater Noida Expressway. ATS group is coming up with top-class apartments at Yamuna Expressway. These houses too shall have the connectivity advantage. These shall be 2 BHK apartments in two sizes: 1150 sq. ft and 1350 sq. ft.

Several other builders too are coming with new projects in Noida. Real estate Noida, in the coming future, shall see some of the high-rise structures, laced with all the modern amenities.

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What Goes in Favor of Flats in Ghaziabad and What Not?

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What are the pros and cons of buying flats in Ghaziabad? Every coin has two faces, and so has this city. There are certain issues that portray gloomy picture of the affairs. High rate of crime, lack of a proper legal system and inadequate local transportation are the major barricades to the city's steady progress. Anti-social elements raise their ugly heads now and then. They are able to pull off their nefarious activities as their actions are bolstered by government authorities and politicians. Lack of transparency in the legal structure further fuels the fire. The realty market too bears the brunt of this lack of perspicuity. Then there is a concern regarding lack of any up-to-the par local transport which makes it difficult for people to commute within the city.

But on the positive side, the city is making a steady progress in terms of infrastructure, retail market, real estate, and industrialization. So, the realty buyers who are eying on Ghaziabad flats can take a breather. The power situation that was, hitherto, below par, is now convalescing amazingly. With top-class builders taking a leap here with their avant-grade projects, dwellers can get a kick out of the quality living and all the modern amenities.

Talk of city's connectivity to Delhi and Noida, it is improving day by day. The proposed plan of extending Delhi Metro to Old Bus Stand in Ghaziabad shall make the commutation between two cities quiet easier and less time consuming. Localities like Indirapuram, Vaishali, Kaushambi, Raj Nagar Extension, and Cross Republic are doing pretty good in terms of a buyer's interest. You will find some of the best flats in Ghaziabad in these locations: high-end infrastructure, world-class facilities, and comfortable life-style speak volumes about the rising living standard here. The demand for residential properties in these areas have escalated over past one year.  this clearly shows that realty market is faring well, in spite of all pain in the necks mentioned above.

Makaan.com is the number one property portal that allows you to buy, sell or rent residential and commercial properties from the cities all across India. Choose properties that fall within your budgetary constraints. Single rooms, individual houses, luxury villas, and condominiums are available for searching and making a buy.

Real Estate in Delhi: Buyers' Sentiments Watering Down

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A friend of mine is trying to buy a house of his own in Delhi. Every time I meet him, this subject creeps  in-he has the habit of digressing to this favorite topic of his, no matter what the subject we are talking about. If one overhears our conversation at any point of time, he would hear the phrase 'real estate in Delhi' over and over again. Actually, there are a number of things that are making him waver about his decision. May be you too are facing the same situation. Let's talk about what is ailing an average buyer who wants a property in Delhi...

Everyone knows about the prices that real estate Delhi has been seeing year after year. They only escalate and seldom come down. This is the major concern. In spite of the fact that not much scope is left for any horizontal development in the city, the developers never let the prices to come back even a bit and make buyers take a breather. Living in a fully-furnished 2-BHK flat has become a distant dream for the middle-class income segment(like my friend). Talk of South Delhi, the rates are able to retain their 'colossal' nature there. The other regions too are following the suit.

Added to the woe is the inability of government to control inflation. Eating out or dining in a restaurant, buying a car, or purchasing petrol have become the 'privileged things'. Open your Facebook and see what importance a simple root like onion has gained. So much so is the hike in its price that it is seen as an 'endangered food' from our kitchens. With such things happening, who has the money left for buying a house and that too in Delhi? Real estate in Delhi, at the present moment, is facing a slump. Buyers are hesitating to make a purchase, given that they are finding it difficult to make enough disposable income for investment.

As if this was not enough, the fall in rupee further diluted buyers' sentiment. This steady decline has almost made them press the 'stop' button for their home buying aspirations. The fall-off has wiped out hopes of those who were planning to go for property for sale in Delhi this year. The present scenario may not last long, but it is posing difficulties for home buyers right now.

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New Farmhouse Policy Going to Change the Face of Residential Property in Delhi

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I have been commuting via Delhi metro from past three years and every single day, I have noticed one thing in particular. There are no or only 1 or 2 people getting down or boarding the train at Ghitorni and Sultanpur(Jhangirpuri-Huda City Center Metro Line). And I used to wonder why the train even bothers to stop at these two. It seems that authorities heard the mumblings of my heart. The new Farm House Policy laid down by DDA is going to completely change the scenario. As per this policy,  been  a total of 27 low density villages shall be covered for the construction of one-acre farmhouses. These shall be termed as 'Country Houses', and shall influence the rate of other property for sale in Delhi.

Since the day DDA announced that such a scheme shall be rolled out, there has been an unprecedented number of inquiries from investors and High Net Worth Individuals(HNIs) for acquiring land in these villages. This interest has directly affected the prices of other South Delhi property including flats and apartments: their rates have depreciated by 10-15% in the first quarter of 2013. DDA has also decided to increase the Floor Area Ratio(FAR) in the villages that are scattered along metro lines. The earlier FAR of 15% is proposed to increase to 20%.

In addition to Ghitorni and Sultanpur, a few other villages that have been included in the Farm House Policy are Asola, Devli, Hiranki, Bakoli, Rangpuri, Khanpur, and many more. As against the proposed  one-acre area, the earlier mandatory area for farmhouses was 2.5 acres. To make the best of the situation, several prominent builders have already roped in for acquiring land in these villages. As far as the present farmhouses that have covered high floor areas need to pay penalty in return for the regularization.

In the years to come, these remote villages shall be able to see high-end residential developments. This shall take time, but once that happens, these areas shall populate well. The number of commuters to and from the areas along metro-line shall increase considerably. We shall have to wait which turn the residential property in Delhi takes...

Buy, rent or sell residential as well as commercial India properties at Makaan.com, the leading property portal based in India. Search farmhouses, bungalows, villas, land and plots available in different price rates. Properties in all the major cities across India have been listed over the portal.