International Trade Park( World Trade Park (WTP))to Redefine Jaipur Real Estate

International Trade Park( World Trade Park (WTP))to Redefine Jaipur Real Estate

Jaipur real estate will soon have a new milestone in the form of an international trade park, World Trade Park (WTP), to its credit. The project boasts of an eco-friendly office property with water and energy conservation techniques, automatic sensors for power saving, centrally air conditioned, wireless LAN and IT friendly environment.

The foundation stone for the World Trade Park, a business-cum-shopping centre was laid in 2005. Established by RF Properties and Trading Pvt Ltd, the park spreads over an area of 20,000 sq. yard. It has offices, a convention centre, retail outlets, exhibition halls, a five-star hotel, and a two-screen multiplex, trade lobbies, an art gallery and a computer-controlled parking for 1,100 vehicles.

The trading park is perceived as a nucleus of world trade in South Asia. It will provide Global Business amenities under one roof, further crafting Jaipur as the international trade capital of the country.

Project update

Commercial property market in Jaipur is being redefined with landmark constructions like the World Trade Park. The WTP is surrounded by posh shopping malls like The City Pulse, Crystal Mall, Crystal Palms and the Crystal Court. Other mega projects that are about to come up in Jaipur include, Mahindra World City project in collaboration with RIICO, which will be a multi-product Special Economic Zone. A film-city project worth Rs 1,900-crore on 1,000 acres in Jamdoli is also on the cards.

In March 2007, the State government, proposed a Science City in Jaipur to be developed with the International Convention Centre. A “Mini India” theme park on 50 acres sharing space with a golf course and a cricket academy is also there in the foresight.

Amid a number of forthcoming huge commercial projects the real estate in Jaipur is resolved to continue its vigorous upward trend. “With WTP playing a perfect escort in a new age world of trade and industry, it would help put Jaipur on the world map”, property experts of Jaipur comment.

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Dharavi's Profile in Mumbai Real Estate

Dharavi's Profile in Mumbai Real Estate

Dharavi, the thriving 200-hectare of land in the heart of Mumbai, home to over a half million people, is one of Mumbai's prime properties.

With real estate values sky-high in Mumbai and a key commercial district on the cards in north of Dharavi; a multi-billion dollar redevelopment plan for this area is now up.

Booming economy

An annual business turnover of more than $650m (£350m) a year is what Dharavi's contribution to Indian economy is.

Dharavi has a hefty number of flourishing small-scale industries that manufacture embroidered garments, export quality leather goods, pottery and plastic. Most of these products are sold in domestic as well as international markets.

Apprehensive of impending redevelopment plans, residents have raised their concerns fearing uncertainty over the relocation of their small businesses in the informal sector.
The existing residents are believed to be shifted to apartment units. Mumbai is offering them an area of 225 sq.ft each in apartment blocks but there is no space allocated for their prolific enterprises, say media reports.

An 'affordable' alternative

Moreover in a city where house rents are among the highest in the world, Dharavi provides an economical and affordable option. As Dharavi is situated between Mumbai's two main suburban rail lines, majority of people find it convenient for work.

According to industry sources, rents here can be as low as 185 rupees ($4/£2.20) per month.

Future Outlook

Dharavi's location has made it a hot property in Mumbai Real Estate. The redevelopment project is estimated to cost $2.1bn (£1.1bn) but intended for a city that personifies India's hopes of becoming an economic competitor to China this costs zilch.

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New Horizons of Lucknow Properties

New Horizons of Lucknow Properties

Rapid growth of real estate in Lucknow has changed the demographical scenario of the city as well. Being an old city there is not much space left in the core city for further development. Therefore, Lucknow real estate builders are now shifting focus and launching their projects especially in the outskirts of the city.

The transformation of Lucknow real estate market can further be accredited to the surge of construction activity primarily in the residential sector. Lucknow real estate developers are coming up with number of township projects on the outskirt of the city.

One such project by Sahara City Homes is in full swing and the possession of property will begin in the year 2009. A total of 30 blocks are under construction. These 30 blocks will house 1620 residential units. The construction of other blocks will commence by the end of this quarter. This project is spread into 175 acre on Hardoi Road.

Besides, Eldeco is developing a 200 acre project, called Eldeco Town on Sitapur road. The range of these apartments is between Rs 20 - Rs 50 Lakhs. Other national builders like Omaxe, Ansals, Parasvnath, Rohtas are also developing their residential project in the suburb of the Lucknow.

The localities of Gomti nagar, Mahanagar, Janakipuram and Indiranagar have now developed as the new residential centers. To buy a 3 BHK (1775 sq ft) apartment in Gomti nagar, Lucknow one has to shell out around Rs 35 Lakhs. The rent in Gomti nagar is about Rs 10,000-14,000 per month. On the other hand, the capital value of a builder floor apartment in the Aliganj and Jankipuram ranges around Rs 25 Lakhs for a 1000 sq ft area. The rental value in Aliganj is approx Rs 9,000 per month and it varies according to size and floor of the apartment unit.

During the past few years, the real estate graph of the city has grown manifolds. Biotech and IT are the two focus areas to promote economic development in and around the city. According to Lucknow real estate agents, the increased employment opportunities and good salary packages has created an added demand for Lucknow Properties.

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Affordable Housing - Call of the Day

Affordable Housing - Call of the Day

Delhi real estate builders affirm that, the recent slump in real estate might have put a dent in the property market but the demand for Delhi properties remains promising. Rising property prices may have cut down on the actual transactions but there are a lot of interested buyers in the city.

The industry data reveals that, at present there is a huge demand supply mismatch in the price category of below Rs 40 lakhs and below Rs 75 lakhs where demand outstrips supply. There is excess supply in the price band of above Rs 75 lakhs and the demand for the same is low.

For long the builders are launching premium housing projects. As a result the available properties are coming at higher per unit price. There is demand-supply mismatch and also divide between what people want and what they are getting.

With a view to tackle the difficult times in realty sector Delhi Real Estate Developers are changing tracks. Sighting the fact that thee is very little supply in the affordable home category, the developers are now coming up with low cost houses.

Also, as Delhi Development Authority’s plans to release around 6000 flats which will cater to the lower price segment, private developers in the capital are also forced to change their policy. According to Delhi real estate agents, "developers mean business and they have observed a growing demand for low cost housing units, hence are coming up with costumer-conducive schemes.

Renowned realty major Unitech, recently tailored the offerings in its premium property Nirvana Country so that it appeals to masses rather a particular section of society. The independent floors now start from Rs 40 lakhs, which earlier cost upwards of Rs 1.5 crore.

The salary packages haven’t moved as fast as the property prices. However, buying a home or an apartment in Delhi is a dream everyone nurtures. Besides, when there is supply and corresponding demand in the market builders see no way why they don’t modify there products. Moreover, to be in the business they have no other choice.

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Apartments in Delhi - A Good Investment Option

Apartments in Delhi - A Good Investment Option

Delhi is the national capital and also one of the best destinations for investors to buy property. Delhi having an advantage of good connectivity with most of the cities in India houses the top most corporate houses in the world. The main upswing of construction activities is going on in New Delhi, with number of residential as well commercial spaces being developed by prominent real estate developers.

DDA has drawn up several plans for next two years including mega housing project in Dwarka, Bio-diversity Park housing over 5,000 species of flora and fauna along the Yamuna banks, a spiritual garden forming a link between South Delhi's three major temples in Kalkaji.

Ansal Properties is all set to carve a substantial niche for itself in Delhi with its real estate projects: Ansals Sushant City and Valley View Estate. Being the IT hub of India, Delhi proves to be the center for real estate transactions in the country.

With the increasing influx of students and tourists in the city, Delhi Real Estate Developers have started coming up with the idea of service apartments a concept borrowed from the West. The service apartments in Delhi are fully furnished and provide a nice staying experience in Delhi. They are are becoming very popular amongst these international tourists and students as they are cheaper than the hotels and give them a nice, secured homely experience.

With unavailability of land in rest of Delhi, Dwarka has become apparent choice for real estate developers in Delhi for constructing apartments. Investors are readily interested in buying apartments in Delhi as the rental values have also sky rocketed in the past few months. Moreover, with growing crime rates people are very all these apartments.

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Chennai Real Estate - It's a Consumer's Market

Chennai Real Estate - It's a Consumer's Market

Undergoing the period of correction for the past 6-months, Chennai real estate markets have finally started to stabilize, however the demand curve is still observed moving horizontally. As per industry reports, the city absorbed a meager 13 per cent of the total supply of the residential space in the past quarter.

Chennai real estate received fresh additions of 3.4 million sq. ft of housing in the past quarter although a meager 0.47 million sq. ft of space was absorbed, studies point out.

Now that the prime banks like SBI, HDFC and ICICI have cut the interest rates on home loans, the markets are likely to catch up and real estate developers expect good time ahead this winter season.

Impact on prices

According to the Chennai based professionals, capital values in the residential real estate in Chennai had reached staggering levels that in fact were termed as unrealistic by buyers.

But now prices are almost down by 20 per cent, says R Ajay of Tirupati Real Estates. "But you cannot actually gauge that whether price corrections are spiking demand or not. Most of the new projects in the property markets of Chennai are actually making an oversupply and there is no junction between the volume of demand and supply," he adds.

Meanwhile, the prices of residential units in the sub-urban areas have moderated at the levels of Rs 2,500-4,000 per sq. ft, after peaking at Rs 5,000-Rs 6,000. The basic notion behind development of sub-urbs is generally low price range and if this factor escalates, there is no point people will consider buying properties in sub-urbs, Professor Raghu Aiyar commented.

Also, the investors who were expecting instant returns of 25-30 per cent on their property investment in Chennai are at tenterhooks, as the markets have been gradually shedding off all the speculative tendencies.

Outlook

It's a consumer's market. Chennai Real Estate will add as many as 25,000 apartments in the next 12-24 months, from more than a dozen of townships alone and construction of standalone apartment buildings will further accumulate over the total additions.

In this scenario, the supply side would outstrip demand curve and of course, property sellers and developers have to downscale their margin expectations, say market analysts.

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Chandigarh Real Estate - More Investments, Few Takers

Chandigarh Real Estate - More Investments, Few Takers

Chandigarh real estate is witnessing testing times. On one hand, there are more investments pouring in the segment and on the other side property buyers and sellers are not very enthusiastic about property transactions.

The overall, economic recession has caused stagnation in the country's real estate segment. Chandigarh's property segment, too, is witnessing a similar trend. Property brokers in Chandigarh say that real estate values have stagnated. Chandigarh Property prices for plots in suburban areas like Baltana and Kharar have stooped down to as much as Rs 100 - 200 per sq yard. This is almost 20% decline in prices when compared to corresponding quarter last year.

Property sellers in Chandigarh see this as a temporary phase and are holding on to their land assets. They hope that real estate prices will increase in next six months and this is when they will make profits. Property buyers, however, say that Chandigarh Property Prices are nominal still. They have few choices as there are not many sellers in the markets as of now.

Recent developments in Chandigarh's property segment are worth noticing. Delhi-based developer Parsvnath has bought 38% stake in Sabeer Bhatia's Nano City Project. Nano City is a commercial and residential project in Chandigarh and will be completed by 2010. Market sources say that Bhatia is already scouting IT clients to open offices in his Nano City. This will bring more employment, and thus many more property users and home seekers to Chandigarh.

For now, one will have to wait and watch. Property market is expected to be buoyant in some months. This may be a breather for investors who have put their money in properties at Chandigarh.

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Chennai Real Estate - Victim of Market Slump

Chennai Real Estate - Victim of Market Slump

Real estate in Chennai is on the verge of a crashing market, believes industry experts. Chennai property prices have seen an escalation of almost 200 per cent in the last few years. But with the global slump in the real estate industry, Chennai real estate has also slowed down.

Number of Chennai real estate developers has been able sold only a few of their properties in the last quarter. R Mohanty, real estate agent from Chennai states, "The residential real estate prices in Chennai have grown by leaps and bounds making it difficult for buyers to purchase a home in the city. The increased loan rates have now made it worse. Though the prices are witnessing correction people are awaiting the market to further stabilize."

Research reveals that there has been a 90 per cent drop in demand for residential projects since the start of the year.

Notably, Old Mahabalipuram Road, the hottest real estate destination in Chennai is also loosing pace. Cursing the fading effect of the place on lack of infrastructure facilities, Chennai real estate agents say there have been only a few transactions in the area for quite sometime.

The commercial sector is also witnessing a downfall. The Central Business District in Chennai has seen a 15 per cent drop, media reports.

IT companies largely drive the demand for Chennai properties but due to the current market recession many companies have postponed their expansion plans. As a result supply of office space in the city has exceeded demand. Huge chunks of office space are lying unoccupied. Subsequently, Chennai real estate builders are now waiting to launch their projects.

Besides global recession, inflation, the rising home loan rates and increasing input costs have also resulted in slump in property transactions in Chennai. Realtors in Chennai are struggling to sell properties. Though price correction is taking place in Chennai Real Estate sector but realty experts predict that the market will bounce back.

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Gurgaon Real Estate - Slump Continues

Gurgaon Real Estate - Slump Continues

Gurgaon properties have seen a vital growth in the city’s development, thanks to Gurgaon real estate builders. The DLF Group is one of the foremost real estate development companies of India that have majorly contributed in the development of Gurgaon. The company is widely known for the development of both commercial and residential projects in Gurgaon.

However, the Gurgaon real estate developers are also facing a certain challenge like their counterparts in other parts of the country. Those economic drivers that form the basic spinal chord for running the property business, are facing a downward trend. This is the major reason currently that has further resulted in pushing down the demands for buying of property.

The current trends disclose that there is apparently a clear drop in the interest of property purchase by the end users. There seems to be no sign of recovery at least for the next one year, claims a local broker based out of Gurgaon. This is the reason why real estate in Gurgaon is undergoing a lull.

According to a market survey, more than one-third of the residential units in the newly constructed projects in Gurgaon are lying vacant. However, the Gurgaon Real Estate Developers do not disclose this fact to dissuade the buyers.

But the positive side is that all those who are really interested in buying property in Gurgaon can go ahead and negotiate with the real estate agents at Gurgaon.A lot will depend on your negotiating skills is so go ahead and take a chance. Gurgaon properties are waiting of you.

Points to Remember While Buying a Pre-Owned House

Points to Remember While Buying a Pre-Owned House

Be it a new house or a pre-owned house one need to be careful and vigilant before finalizing a deal. Pre-owned houses have negotiable and wide range of price options to choose from. They have established infrastructure facilities - physical and social. Plus, they are ready-to-move-in homes, complete with basic furnishing. One can opt for a pre-owned home on the basis of individual and family requirement and the budget.

Money, location, appreciation, transport and connectivity, accessibility, cash in hand and mortgage options are all important factors of the process. Pre-owned houses are generally ideal for people who have an immediate requirement of a home to reside in.

Beside location and neighborhood, it is important to consider architectural design when buying a pre-owned home. Take into account the quality of construction of the property. Read the floor plan and assess the quality of paint, furnishing, fixtures and material of walls, ceiling and flooring used in the house. Parking facility is the other key area needs to be checked on before buying a house.

Always choose a house which not only suits your pocket but also that holds value in the long run and has a good value-appreciation rate.

One of the most important points is drainage. It doesn't seem so important but can define the value and livability of a house. Do make sure that the house and the locality has a proper and well-maintained drainage system. This ensures no water logging during monsoon.

Apart from these don't forget to keep a check of all the documents that you need while buying for example registry, transfer deeds, power of attorney etc. Make sure that there are no pending bills of the house and all installments and dues are paid on time. Also do some inquiry regarding the history of house, all this is extremely important and ensures a wise investment.

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Impact of Delhi Metro Rail on Delhi NCR Real Estate Market

Impact of Delhi Metro Rail on Delhi NCR Real Estate Market

The Mass Rapid Transport System (MRTS)—Metro Rail—has done wonders for Delhi real estate markets. The consequences are duly reaching the entire National Capital Region (NCR) and Ghaziabad is no exception. The following article in Times Property by Brix Research explores more.

With the metro connecting Delhi’s far-off areas the city’s active real estate market is blazing. In its third phase, metro is expected to reach Ghaziabad and will also be entering NOIDA and Gurgaon shortly. Under the metro route planned for Ghaziabad, it will be linked from Anand Vihar to Vaishali navigate Kaushambi.

Bordering Delhi on its east, Ghaziabad is rapidly emerging as the residential hub for IT professionals working in NOIDA and Delhi. It is emerging as the next popular address for Delhi-bound commuters.

Growth Drivers

The city of Ghaziabad is developing rather fast. Recently, the International Institute for Environment and Development, a UK-based policy research non-governmental body, ranked Ghaziabad as third fastest growing city of India. As per its reports, the city clocked an average annual growth rate of 9.28 per cent since year 2000.

Large commercial developments in NOIDA are encouraging builders to come up with residential units along the National Highway – 24 leading to Hapur, and along national Highway – 58, leading to Meerut.

More and more real estate developers are turning to Ghaziabad for launching their projects, both commercial and residential. Parsvnath, Omaxe, Suncity, DLF have already rooted their presence in the Ghaziabad real estate sector and other realty majors are eyeing the Ghaziabad real estate market with much anticipation.

Furthermore, development of city’s commercial sector is influencing the growth of residential property of Ghaziabad. Many of the MNCs, banking and insurance companies are rapidly setting up their operations in the city thereby accelerating the developments on the commercial front, with lots of investment coming in.

What’s more, the city is comparatively pollution free and is known for the best parks in the National Capital Region. There is Ram Manohar Lohia Park in Rajendra Nagar which is spread over a large area of 40 acres and the 25-acre Swarna Jayanti Park in Indirapuram.

Residential property values

Real estate brokers expect the property values in Ghaziabad to skyrocket once the metro plans come to fruition however the picture for the next 2-3 years is likely to remain dicey, as the project is scheduled to complete in 2009.

Sudhir Singh, a broker operating in Ghaziabad says, “There is going to be a sound increase in the prices owing to the benefits that will be there once the metro ventures in.” He adds, “The Metro has altered the complete look of Delhi with property prices registering a record high, we expect similar kind of a breakthrough in the Ghaziabad real estate market as well.”

Though, Ghaziabad real estate is holding back for the time being, A Khurana, real estate agent from Ghaziabad revealed that “the markets have shown uniformity in capital values driven by sluggish demand and adequate supply of new units.”

However, that is for a short period of time as with proposed infrastructure developments and upcoming common wealth games Ghaziabad real estate will be touching new altitudes of success, say industry sources.

Future Outlook

Beside, extension of the Delhi Metro, provision of good quality infrastructural facilities and construction of flyovers and widening of national highways are other reasons for the blooming real estate market in Ghaziabad.

13 flyovers and two under bridges are on the agenda to come up shortly in Ghaziabad. Construction on the Mohan Nagar flyover and the old bus stand crossing flyover has already started.

The former will be built at a cost of Rs 13.12 crore and will be completed in six months’ time while the latter will be finished at a cost of Rs 10 crore in about 18 months’ time, say media reports.

They will help in reducing the traffic congestion, leading to an increase in value of land.
Ghaziabad is poised to be one the fastest growing real estate destinations in the NCR, mainly because of its proximity to the site of the Commonwealth Games.

Infrastructure major Punj Lloyd has signed a MoU with Delhi-based real estate developer Ramprastha Group for developing multi-storied residential housing projects.

The first such project will be developed at Vaishali in Ghaziabad over approximately 29 acres in a fifty-fifty joint venture. The proposed projects of the venture form part of an integrated gated township. The development will consist of residential units by and large.

The Ramprastha Group has developed three townships, spread over 100 acres each, in Ghaziabad, comprising plotting, group housing, dwelling units and commercial projects.
Nonetheless, in lieu of systematic developments taking place in Ghaziabad, coming up of the express highway, enhanced connectivity and an international airport will give the requisite push to the real estate market of the city. According to media reports, there could be 200 per cent appreciation in Ghaziabad real estate prices by 2011.

Ghaziabad is heading towards rapid growth and witnessing dramatic changes in recent times.

Meanwhile, for those who are looking for good investment options, in both commercial and residential sectors, lofty returns and quality lifestyle in NCR, Ghaziabad has emerged as the ideal destination; say city-based real estate professionals.”

Growing Prospect For Investing in Ahmedabad Real Estate

Growing Prospect For Investing in Ahmedabad Real Estate

Ahmedabad is better known as the capital city of the state of Gujarat. It is the seventh largest metropolis of India. A city more popular for its industrial background, is now growing on the real estate map, slowly and steadily.

Ahmedabad is among the top 10 cities to reside, invest and earn, according to a study 'The city skyline of India 2006' conducted by Indicus Analytics. Surat and Ahmedabad are also ranked in the top ten 'alpha cities' also classified by the study as the elite club of 10.

Ahmedabad enjoys strategic advantage of proximity to Mumbai, commercial capital of the country. Western, Middle East and African markets are also accessible. Going by the ever growing construction of skyscrapers, shopping malls and multiplexes, the city is moving on fast. Investors and NRI Gujaratis have been attracted due to its mega city status and the strides it has made in terms of healthcare, cuisines and malls.

Retail and information technology are the upcoming sectors in the state. IT parks are being set up. Projects in the auto parts industry are being planned for the city. An arterial road network of 155 kms has been identified for a Rs 950 crore Bus Rapid Transit System (BRTS) in Ahmedabad.

S.G Highway and Ambawadi are the places where IT companies are coming up with their campuses. Prime residential areas are Sabarmati, Vastrauram, Satellite, Ambavadi and Chandkhera. Prime Commercial areas are C.G road, S.G highway Satellite, Vastrapur. Coming of SEZ will further boost real estate residential and commercial values because of increase in number of floating population. Current Ahmedabad real estate market is less expensive as compared to the neighboring localities and this is going to be a crucial factor - as more number of International players will establish their campus here.

Sardar Vallabhbhai Patel International Airport serves both as a domestic and an international airport for the city and neighboring states. It operates direct flights to all other major cities of India. The National Highway 8 which connects Delhi to Mumbai passes though Ahmedabad. The National Highways Authority of India (NHAI) has signed two separate agreements with IDAA consortium and Larsen & Toubro (L&T) for upgrading the highway under a BOT (build, operate and transfer) scheme. The Metro Rail Project is being planned with private sector participation.

Current focus is on infrastructure by privatizing ports and building integrated townships. The government is encouraging in a big way, technology parks, education based townships, medical and healthcare townships, tourism-related townships, Logistics Park and residential townships.

Skilled labour, availability of land in market, quality real estate, low operational costs, good connectivity, supportive government policies and entrepreneurial culture are the city's strengths. There has been a tremendous demand for low-rise buildings, bungalows and row-houses, say local realty agents. However, social infrastructure has still not matched the desired pace. Hence, self-contained and integrated projects will have better prospects.

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Mumbai - One City, Two Worlds

Mumbai - One City, Two Worlds

The nation's financial capital Mumbai has so far been witnessing skyrocketing real estate prices. But as population is escalating at the same pace and people are pouring from all over, the city is struggling to fit them all.

As Mumbai's profile attributes, it houses number of glitzy apartments and also many middle-of-the-road apartment buildings. But don't go by this façade, to buy an apartment in Mumbai one has to have a hefty bank balance to count on. All this has contributed to Mumbai real estate being the most expensive of all in the country.

On one hand this city is home to the Indian film industry, and other big shots of politics and business world but on the other side half of the city's population still lives in slums, without proper access to water, health care or sanitation.

Despite this widespread poverty, huge property deals continue to make headlines in Mumbai real estate industry. Case in point, only last month a film star set a national record by purchasing a three-bedroom apartment in south Mumbai for a whopping Rs 1.2 lakh per sq ft.

Considering this wide gap in the living conditions of its population and recognizing the housing shortfall the government is coming up with redevelopment plans and mass housing schemes for the people. Though many Mumbai real estate developers have pitched in for various projects in both spheres, the progress has been slow. Besides, recently the land allotted for affordable housing scheme has been encroached.

Moreover, the problem of growing urban population is the one that needs to be tackled first hand. Also, the people needs to be provided with basic facilities of water, food, electricity, security and other services such as transportation and education to ensure sustainable living. For this, the government as well as Mumbai Real Estate Builders surely need to be on their toes for making Mumbai real estate a global property market.

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Mumbai Real Estate Developers Struggle to Survive

Mumbai Real Estate Developers Struggle to Survive

Mumbai property price are seeing a price correction in the recent months. Both, the residential rental and capital market in Mumbai have witnessed a price amendment. There has been a 70 per cent dip in Greater Mumbai, whereas South Mumbai and suburbs are reported to have seen a 10-15 per cent correction.

The main reason cited by the industry experts for the slowdown in Mumbai property market is that, a number of local factors and main features are common in the city's distant suburbs.

According to Mumbai real estate agents, developers are wary of being lost in the muddle of look-alike offerings in the real-estate market, so they are coming up with innovative ideas to sustain.

With a view to combat the above situation a section of leading Mumbai real estate developers is trying to carve out a niche by personally attending to the needs and requirements of each and every customer.

Also, miffed by the fall in bookings and stumpy transactions, Mumbai Real Estate Builders have now come up with a range of freebies. To attract buyers the developers are willingly bearing the stamp duty and registration charges them self.

Although there are customers looking to buy an apartment in Mumbai the prices are way too high. Despite the fact that property shows in the city are attracting large number of visitors, the bookings are not as inspiring. All across Mumbai, developers have reported a slump in bookings, research reports. Indeed, faced with crash crunch, very recently real estate major Unitech Ltd has sold 50 per cent stake in its Santa Cruz project in Mumbai to Lehman Brothers real estate partners for $175 million, media sources.

However, on the commercial front the demand for office space in the Mumbai is still enormous. The well-developed buildings still command high prices. Moreover, the state has granted additional floor space index (FSI), in the suburbs. This is expected to improve on the status of the old housing societies for redevelopment.

The Ups and Downs of Mumbai Properties

The Ups and Downs of Mumbai Properties

While rest of the country is up for a 20-25 per cent price fall, Mumbai will witness the fall in the range of 10-15 per cent, source Housing Development Infrastructure (HDIL). The property boom continuing for the past four years has lead to as much as 300 per cent appreciation in the Mumbai property prices, including the suburban areas of the city as well. But the current market correction is expected to result in prices falling to almost 25 per cent in some areas of Mumbai.

Mumbai Real Estate Developers were holding on to properties for long but now they are releasing them as the market is no longer buoyant. Mumbai has recently been announced as Asia's third and the world's sixth most expensive location to rent a three-bedroom apartment, media reports. Amid that, the news of price correction has bought a much needed relief for the buyers who are waiting for long to buy a house in the city anticipating the fall in Mumbai property rates.

However, Mumbai real estate builders are optimistic as ever. Owing to the fact that people are vying to buy an apartment Mumbai and the demand is robust but supply is limited, the developers feel that there can never really be a crash in the residential property market of Mumbai.

Although the real estate agents and builders accept that there is a fall in the market but they affirms that rental market is still growing strong. The demand for all property types (be it residential or commercial) in Mumbai outstrips the supply, anytime. Due to this demand-supply mismatch, although there would be a market correction in the residential sector of Mumbai, still it is going to be a task for a common man to get a home in Mumbai. Moreover, the realty slump world over is leading to Mumbai properties being flocked by the foreign investors because of its strategic location.

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Indirapuram - A Gem of Ghaziabad's Property and Real Estate Market

Indirapuram - A Gem of Ghaziabad's Property and Real Estate Market

A few years ago having a property in Ghaziabad had been looked down upon by many. Today, the same location is considered as a priced property. By way of entertainment, quality education or health cares the NCR region of Ghaziabad has grown multifold. And among all Indirapuram has emerged as the priciest location in Ghaziabad region.

Strategically located between three cities (Delhi, Ghaziabad and Noida), Indirapuram's infrastructure is supposed to be its biggest strength. The entire skyline of Indirapuram has changed remarkably in the last two-three years. An increased growth of commercial and retail sector as well as the social and physical infrastructure has further resulted in a glut of residential projects including well-planned townships in Indirapuram.

The rates of residential properties in Indirapuram have skyrocketed in the last couple of years. According to research reports, property rates in Indirapuram alone have registered a 70 to 80 per cent appreciation in the last one and a half years.

Shipra Estate is one of the first private developers to have launched a property in Indirapuram around two years back Shipra's prime residential property in Indirapuram was valued at Rs 1,200 per sq ft, but today its costs more than Rs 2,600 per sq ft, say Mohan Gupta, real estate agent operating in Indirapuram.

Since, good living is the catchphrase in Ghaziabad region private developers are coming up with hoards of lifestyle premium apartment projects in Indirapuram. Provision of high-class infrastructure is foremost for the residential property developers.

The introduction of the Metro Rail and the Commonwealth Games are two breaking points that have stimulated demand for property in the Ghaziabad region. Kaushambi, Vaishali, Vasundhra and Indirapuram have seen the maximum amount of real estate development. Of which Indirapuram has clearly emerged as the hot bed of real estate in Ghaziabad. Property builders and estate agents feels that in another two years' time Indirapuram would be choc-a-block.

Future Outlook

The properties in Indirapuram are quite affordable. People from middle and upper middle classes are largely buying in these properties. The trend of villas, penthouses and independent floors is also catching up in Indirapuram. With superior standard of amenities being offered in almost all residential projects in Indirapuram, which includes, suitable parking, parks, power backup, 24-hour water supply, swimming pool, nursery, gym, among others the real estate value of the place is getting bigger.

Although hit by the current market slump the transactions have been low. Also, due to increase in cost of construction there have been delays in projects by many developers for which the bookings have already been done.

Besides, few other issues like number of factories on the main road leading to high level of pollution, crossing the border during rush hour, interstate bus, transit trucks and local auto-rickshaws parked at border often led to long traffic jams. According to Times Property these concerns have to be well thought-out for Indirapuram to become a real estate destination in true sense, feel the residents and developers alike

George Gonigal provides you the best and latest info on India Properties and Real Estate in India. He would also let you know about Ghaziabad Properties and Indirapuram Properties.

Bangalore Real Estate Focusing on Sustainable Development

Bangalore Real Estate Focusing on Sustainable Development

Bangalore real estate is mushrooming with the property prices going up and down at the same time at different places within the city. Bangalore real estate builders are more concerned about the planned and strategic development of the city.

The state government is also taking initiatives and deep thoughts as to how and where to expand further real estate in Bangalore. The development should happen in such a manner that it doesn't lead to further congestion in the city. Secondly should have proper social and physical infrastructure linked. And thirdly it should be connected to the CBD.

The government and the authorities are closely working as to expand public transport and give some more space and satisfaction to the common people. Metro project is being given attention to plan it in a manner that it will help in de-congesting the traffic and make the Bangalore properties more accessible. Elevated road and expressway is the other project on which government is working efficiently to connect east - west and north-south of the city through elevated expressways.

People are also becoming aware and are actively participating and following the state laws. For example in Bangalore it is mandatory for the school children to come in school bus irrespective of the distance. This will help in reducing number of vehicles on the road in the morning in front of schools. Car pools are the second thing that can be seen there where people themselves are taking a step to form pools while going at a same place.

In this way government and public are joining hand to retain their heritage and at the same time make progress. Bangalore real estate prices are also gets influenced by this news. As better infrastructure and connectivity are the main parameters on which capital and rental value of the property depends thus Bangalore Real Estate is currently undergoing a mixed phase.

Drop in Mumbai Suburb Prices - Hopes For Buyers

Drop in Mumbai Suburb Prices - Hopes For Buyers

Owing to nil supply the property prices in the core areas of Mumbai are buoyant as ever. However, the suburban areas are witnessing a drop in prices by 10-20 percent. As the supply side is in excess the values of property are much less in the suburbs as compared to the main city.
According to market research reports, while in Borivali, prices are likely to come down by 10 per cent, the drop would be in the range of 15-20 per cent in Thane and Navi Mumbai. Industry experts feel that it would take a long time for the real estate industry to recover from the current slump.
As per a recent survey, Mumbai is the 10th most expensive city in the world. Having said so to buy an apartment in Mumbai remains a distant dream for a larger section of population. The profile of the prospective buyers mainly consists of youngsters who have come to make a career in Mumbai and spend considerable years of their life in rented apartments and homes. The rented options cost a bomb as well. So, owing a house in Mumbai is a task in its self.
As it is the property are so high in Mumbai and on top of that the rising interest rates has hit the home sales hard. Since long the transactions have been very low all across Mumbai. Mumbai real estate builder, Neelkanth Group, has seen its sales dropping by over a third in the same period.
But the news of a drop in residential real estate prices has brought array of hope for many who are in search of a home in the city.
Mumbai Real Estate Developers, who have their projects in the city suburbs, are now hoping that their projects will soon find some takers. They are optimistic of a good business ahead. Real estate in Mumbai has always been a trendsetter in the property market of the country. Therefore, considering prices declining in its suburbs the property agents and developers are hoping the same trend in other metros as well.
George Gonigal provides you the best and latest information on Mumbai properties. If you want to Buy Apartments in Mumbai, he suggests you log on to magicbricks.com.

Jaipur Properties - Good Time to Invest

Jaipur Properties - Good Time to Invest

Jaipur has of late become one of the most preferred new destinations of urban living in India. It has emerged as the second-fastest growing town in the country. With better road, rail and air connectivity to the national capital Delhi and other places, this hot tourist destination is now in spotlight as the rising star in the real estate market.

Jaipur real estate builders have developed some integrated townships in the recent years. Some of the developers like Sahara, Vatika and Vian are developing their new projects along the Jaipur-Tonk Highway. To meet the future housing demands of the IT sector employees in Jaipur, a number of residential projects are under way by various big and small Jaipur real estate developers. Commercial real estate development is a big draw for investments in residential real estate sector.

The city's main residential areas like Malviya Nagar, Bapu Nagar and Civil Lines have very high rentals rates. Real estate experts believe it's almost the right time to buy apartments in Jaipur. Most of new development is happening in the areas where the IT companies have been set up.

Jaipur Properties are surely becoming the topic of conversation for all the potential investors. The state government has removed the ban restricting the height of a building to 30 metres. According to the new format, the height of the buildings can be 1.5 times the width of the road running in front of the building. Since, there is a lack of open spaces in the city limits; the government has decided to increase the height of the buildings without disturbing the basic town planning.

A dozen of such skyscrapers are to come in Jaipur. The price of a well constructed apartment in Jaipur costs anywhere near Rs. 20 lakhs which is certainly an expensive choice for middle class. However, skyscrapers will serve as the best savior.

Looking at the recent developments Jaipur real estate builders believe Jaipur is all set to become an IT destination and taking on mall culture and upgradation of infrastructural facilities the 'Pink City' is surely going to be one hot investment destination.

Pune Real Estate Going Strong and Steady

Pune Real Estate Going Strong and Steady

Despite the fact that the real estate market all over is experiencing a slump, Pune real estate is going steady. While industry experts have predicted a steep decline in the real estate values, Pune seems to be confronting the forecast.

Backing the statement are the following examples. To begin with, within months of announcement of a new project by the Magarpatta Township Development and Construction Company, 5,800 apartments of 20,000 planned were fully sold out. This is in spite of the fact that the project is on the peripheries of Pune at Sinhagad Road. Same is the case with several other projects which includes the Blue Ridge Township at Hinjewadi, which has seen vigorous sales in the last few months.

Given that Pune was by no means a mainstream real estate destination it never saw a huge drop in real estate prices. The slump was there but it was for a short period of time. Reasons Pune real estate agents that there was demand but people were anticipating a fall in prices so they were waiting to buy an apartment in Pune. But on the contrary prices escalated and so the demand.

Moreover, since the IT industry drives the property demand in the city, first home sales form a major chunk of transactions happening in Pune. Inevitably, transactions as well as price escalation have been highest in the areas of Kalyani Nagar and Baner which are close by two major IT hubs in the city. Besides the IT and BPO industry, the student population continue to fuel demand for housing in Pune.

Renowned Pune real estate developers sack the view that the Pune property prices are on the move for a sharp drop. Pune real estate agents and the local industry experts don't see that much of effect of recession in Pune Real Estate industry at least in the next 10 years. Pune real estate builders affirm that the demand is stable and outstripping supply.

George Gonigal provides you the best and latest information on Pune Real Estate Builders, If you want to Buy Apartments in Pune, he suggests you log on to magicbricks.com

Chennai Real Estate - Victim of Market Slump

Chennai Real Estate - Victim of Market Slump

Real Estate in Chennai is on the verge of a crashing market, believes industry experts. Chennai property prices have seen an escalation of almost 200 per cent in the last few years. But with the global slump in the real estate industry Chennai real estate has also slowed down.

Number of Chennai real estate developers has been able sold only a few of their properties in the last quarter. R Mohanty, real estate agent from Chennai states, "The residential real estate prices in Chennai have grown by leaps and bounds making it difficult for buyers to purchase a home in the city. The increased loan rates have now made it worse. Though the prices are witnessing correction people are awaiting the market to further stabilize."

Research reveals that there has been a 90 per cent drop in demand for residential projects since the start of the year.

Notably, Old Mahabalipuram Road, the hottest real estate destination in Chennai is also loosing pace. Cursing the fading effect of the place on lack of infrastructure facilities, Chennai real estate agents say there have been only a few transactions in the area for quite sometime.

The commercial sector is also witnessing a downfall. The Central Business District in Chennai has seen a 15 per cent drop, media reports.

IT companies largely drive the demand for Chennai properties but due to the current market recession many companies have postponed their expansion plans. As a result supply of office space in the city has exceeded demand. Huge chunks of office space are lying unoccupied. Subsequently, Chennai real estate builders are now waiting to launch their projects.

Besides global recession, inflation, the rising home loan rates and increasing input costs have also resulted in slump in property transactions in Chennai. Realtors in Chennai are struggling to sell properties. Though price correction is taking place in Chennai Real Estate sector but realty experts predict that the market will bounce back.

Hyderabad - Creating Classy Real Estate Transactions

Hyderabad - Creating Classy Real Estate Transactions

Hyderabad Real Estate is one of the preferable markets in India. With the reasonable prices and booming market renowned developers are making a beeline to the city. Many new residential and commercial projects are coming here to fulfill the requirements of end users.

Hyderabad has become the IT/ITES and BPO center. All major companies are setting their branches in and out of the city which further has increased the residential demands also. Luxury apartments and villas are coming up in large numbers in the suburbs of Hyderabad. The most-favored spots for bungalows are Nizampet, Bachupalli, Kompally, Shamshabad, Medchal, Uppal, Nagole, Maheshwaram, Shameerpet, Srisailam Highway, Gachibowli, Banjara hills and Jubilli hills. There is huge demand for apartments and villas also, which are being built near major IT hubs, Shamshabad airport and outer ring road.

With the coming up of many multinational companies and high scale salaries has change the life style this has increased the need of good malls and markets also. Numbers of retail malls and complexes are coming here in and around the city. DLF commercial project is under construction in Hitech City and Maheshwaram commercial project in Shamshabad is also under construction. The rates of shops in mall is around Rs 5000 per sq ft to Rs 12000 per sq ft where as the rates of retail shops in local markets is Rs 4000 per sq ft to Rs 5000 per sq ft.

Infrastructure of the city is also an important reason for the development. Coming Outer ring road and flyovers have reduce the traffic jam and connect the city with outskirt localities also. Real Estate market of Hyderabad is expecting good deals in future with hundred percent results. Mr Shiv Shankar Naidu Hyderabad real estate agent says presently the property rates are down which has increased the commercial and residential transaction.

George Gonigal provides you the best and latest info on Real Estate in India. He would also let you know about Real Estate in Hyderabad and Hyderabad Property.