Residential Real Estate Prices to Reduce as Inventory Pile Up

According to a report by JLL, prices of residential properties are set to fall drastically because of unsold flats or rising inventories across metros. Metro cities like Delhi, Mumbai and Bengaluru are recording highest number of unsold flats. Mumbai is sitting on inventory of 48 months. Delhi real estate is around 23 months and in Bengaluru the inventory levels are sitting for 25 months. Global brokerage Nomura said that the acceptable levels of inventories are for around 14-15 months.
With such kind of inventory lying unsold, it is difficult to stick to the current prices owing to which the cut on property prices are expected.

Sanjay Dutt, Executive Managing Director of South Asia at Cushman & Wakefield told that the in big Indian cities the prices would fall 10% and in outskirts of large cities it may witness a fall of 15%. There could be sharp price correction between now and Gudi Padwa (an auspicious day to buy real estate property in the month of March every year).

The inventory levels are high in the suburb like Virar and Panvel  in Mumbai, and in areas like Thane and Mira Road, prices may not go down but can rise as there is no inventory lying unsold there. All the projects launched are getting good responses in these two places, says Mr Vyomesh Vimal Shah of Hubtown, largest developers of Mumbai.

Based on the latest survey by JLL, the housing prices in India are unsustainable and it is belied that a property bubble is in making.  According to RBI, the property prices pace have moderated and this is due to the slower increase in property prices in metro cities.

The home sales have not been that good despite the lucrative offers by the realty developers, and the main reason is attributed to the high prices. But developers like DLF believe that the property prices will go northward because of the recently passed land acquisition bill and the new guidelines set by the Central Bank to do away with the certain home loan schemes.

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DLF Alameda Gurgaon

Location: Gurgaon dlf alameda - DLF is now developing the DLF Almeda at sector 73, Gurgaon. The video shows the location of the project site and clearly it is still in the early stages of construction.

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New Friends Colony in Delhi – Rapidly Growing Suburb

gaining popularity. New Friends Colony real estate is booming in the recent times owing to these reasons.

The most important landmark of this locality include the 5-star hotel Crown Plaza, otherwise known as the Surya Hotel, and the Lotus Tower, which is also known as the Berjaya Tower. Both of these can be seen from any part of this locality. Mata Ka Mandir is also a main attraction of this place and is easily accessible from almost all the areas of the New Friends Colony. Some of the prominent neighbouring suburbs of New Friends Colony include East of Kailash, Greater Kailash, Sarita Vihar, Jasola Vihar, Jamia Nagar and the Lajpat Nagar. Most of the properties in New Friends Colony are developing in and around these areas. A few of the localities and sub-localities of New Friends Colony include:

•    Khizarabad
•    Friends Colony – East & West
•    Zakir Nagar
•    Khizarabad Bhagol
•    Jogabai
•    Okhla
•    Gafoor Nagar
•    Masihgarh
•    Jamia Nagar
•    Bahapur
•    Srinivaspuri Extension
•    Maharani Bagh
•    Taimoor Nagar
•    Kalindi Colony

This area has a long list of chain restaurants providing different cuisines and also has many pubs which have increased the area’s popularity among the youth. There are also many dhabas serving local street foods ranging from kebabs to shawarmas. A few of the pubs and food outlets of this locality include: Dawat Khana, Pebble Street, Firefly, Moksha, Nathus, Subway, McDonalds, Tavisha Hotel, etc. New Friends Colony property is considered to be among the upcoming residential property in the whole of the city. Apart from these, there are many banks and other establishments like L.I.I. Exports Pvt. Ltd., MG India, Standard Chartered, ICICI Bank, Modi Glass, Citibank Personal Loan Back Office and Axis Bank.

New Friends Colony, being both a residential and commercial locality, has various educational institutions providing excellent education. As education plays an important role in everyone’s life, it has in turn brought in many apartments in New Friends Colony and its nearby localities. Delhi Cambridge Primary School, Kendriya Vidyalaya, Jamia Millia Islamia, New Delhi PT College, PG DAV College and New Cosmos Public School etc. Medical facilities are very much essential for any locality and its residents and this locality does have various healthcare centers and hospitals. Some of them include Holy Family Hospital, Sujan Mahindra Hospital, and Dr. Lal Path Labs, SITRA Chemists, Viola Hospital and Bansal Hospital etc.

This locality being both a residential as well as commercial property destination, there are many upcoming projects being developed by prominent builders and developers. Some of the projects in New Friends Colony include Tulip House, Boutique Residential, New Friends Colony, Ultra Luxury and Propzone apartments etc. The highest locality price of residential multi-storey flats for sale in New Friends Colony is around Rs.20,390 per square foot and the lowest price is around Rs. 18,090 per square foot. And the average is around Rs. 19,245 per square foot. The return on investment has witnessed a decrease of 6 % q-o-q in June 2013. The average rental price of commercial office space is around Rs. 120 per square foot.

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Perungalathur: A Planned and Emerging Suburb

Chennai, a metropolitan city is making a mark in the real estate sector. Most of the localities of Chennai are developing and creating a new niche for itself, one such township is Perungalathur. The name Perungalathur name is derived from the Perungalathur Lake, which means “A place with Big Lake”. Perungalathur is a suburb in the southern western part of the Chennai and comes under panchayat town in Kancheepuram district and is just 3 kilometers away from Tambaram.

Perungalathur is nestled between Tambaram and Vandalur on NH45 highway. This locality is very well connected via rail and road links. Chennai Airport is around 13 kilometers from here and the nearest station is Perungalathur railway station. Also, the proximity to Tambaram railway junction and Arignar Anna Zoological Park in Vandalur has given good connectivity to places like Chennai, Chengalpattu and Kanchipuram. Places like Guindy, Maraimalai Nagar, Paddapai, Oragadam and Sriperumbudur, which are hub for industrial sectors, are easily accessible via road or rail.  All MTC buses headed for Vandalur passes through Perungalathur. Share autos can be hired on Nh-45 to go to interior areas.  Perungalathur is the hub for most of tourist bus operators and many have offices near the railway station. The neighbourhood areas include: Peerkankaranai, Sriniasa Nagar, RMK Nagar, East Tambaram, Kamaraja Nagar, Urapakam and Lakshmipuram.

The Chennai bypass road NH4 marks-off from NH-45 after Peerkankaranai and is north bound towards Maduravoyal. Newly opened underpass to access NH-4 from Tambaram is helpful to the commuters who travel between Irumbuliyur and Peerkankaranai.

This place is surrounded by good educational intuitions. Few good educations institutes in and around are, SRM University, Crescent University, Eva Stalin Business School, Government Schools, Vivekananda Vidyalaya, St. John Matriculation School, M.G.R Matriculation School and Eva Stalin IAS Academy. This locality is a perfect blend of different religions as one can stroll to kamatchi Amman Temple, Muthu Mariamman Temple and Sai Baba Temple and can then find the Infant Jesus Shrine, Lord of Lords AG Church and Masjid e Muhammadiya and Masjid e Rahmaniya at the other street.

Perungalathur Lake provides adequate quantity of water for its residents throughout the year. Drinking water is supplied via pipelines from town panchayat on street taps and connection is provided to apartments in Perungalathur at a nominal fee. Paler water lines are also accessible in few places in Perungalathur. The inner roads are wide and most of roads are concreted.
The proximity to Tambaram and Vandalur is the major cause for development of Perungalathur real estate. A bundle of plans are proposed in Perungalathur which are major cause for the flats for sale in Perungalathur:

•    Phase 1 Monorail Project
•    A road overbridge that would replace the LC-32 and had been embedded with the proposed Rs.50 crore Eastern Bypass project of the Highways Department, which will connect with Velachery Main Road at Rajakilpakkam and GST Road near the Perungalathur station.
•    An Pedestrian subway would be built to replace LC-33

This locality is witnessing the development of IT SEZ, which is a joint venture between Sriram Properties Limited and Sun-Apollo. Once completed, it will house IT companies, retail malls, serviced apartments and multiplexes, which might increase the demand of residential apartments in the area.

The ongoing projects in Perungalathur are: Dhana Bhakiyarm Phase I and II by Maha yogam Homes, Rainbow Nest and Rainbow Utsav by Rainbow Foundations. Sri Raghvendra Foundation is the most prominent builders in Perungalathur who are constructing around four apartments here: Guru Paradise, Guru Vihar, Guru Nivas and Guru Enclave.

The average price of flats in Perungalathur is Rs. 4,128 per square feet and the Residential plot in Perungalathur may cost around Rs. 25,762 per square feet.  If one is willing to take a rental house, it may cost around Rs. 46 per square feet.

Perungalathur is a peaceful place away from the pollution and hassles of the city and the proposed plan from the government will bring it into the arclights very soon once completed. Thus, investing here might yield ripe returns.

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Document Checklist Before Buying a Property

Property buying is a tedious job and you have to be extra cautious from the initial step to the final stage.  A number of things have to be kept in mind when planning to buy property and one of them is documentation.
Considerable documentation goes into the process of home buying, to avoid any legal issues. 

Mandatory Checks:

1.    Check the Title of the Property: To know who the owner of the property is, check the title deed. If there is ambiguity, you can seek the assistance of your lawyer or approach financial institutes to check if the title of the property is clear. Without a clear property title, banks will refuse to fund your property and it may also cause legal problems in the future. It is always important to get a legal opinion before hand on the title of the property.

2.    Measuring the land: Prior to registering a property in your name, it is recommended that the land be measured. The seller could always quote wrong figures in documents. Hence it is wise to obtain a measurement that is verified by a property inspector or surveyor.   

3.    Approved Layout: Next check if the layout of the property is approved. It is essential to obtain a copy of the approved layout for the building from the builder or seller. Before proceeding, ensure that the building plan and its construction is approved by the authorities listed with the Government Registrar.

4.    Check for any Pending Bills: There are various taxes which are paid to the Government like property tax and water tax. Ensure that prior to buying a property all dues are cleared. Sometimes the owner of the property has pending work and the new buyer has to pay those.  Also keep a track of the electricity bills, notices or pending applications related to the property in question.

5.    Encumbrance Certificate: The encumbrance certificate has to be verified in advance to know if the property you are interested in, has been previously mortgaged. If the property is mortgaged, and there are any pending dues, the owner is legally responsible to close the same before selling the property. This certificate can be acquired from the Sub Registrar’s office.

6.    Pledged land: Sometimes people take loans from banks by pledging their property. Before buying such property, please ensure that the owner has paid the entire amount to the bank and there are no dues. This can be verified by asking the owner for a release statement that has been received after the last payment to the bank.

It is also essential to obtain a legal opinion before purchasing a property. One needs to also opt for a good real estate agent  who can assist in the right selection.

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Why NIBM Road is Witnessing High Demand for Residential Units

Several areas of Pune have shown tremendous real estate growth in the last five to six years. This has been primarily due to improved connectivity and enhanced physical and social infrastructure facilities. NIBM (National Institute Banking Management) Road, which is located close to Pune’s centre, is one such area that has shown considerable growth and transformed into one of the hotspot areas for real estate investment. The demand for residential units in NIBM Road can also be gauged by the fact that it is among the top five areas of the city that has seen remarkable growth and increased property sales in the last three years.

The growth of NIBM Road in real estate radar has been contributed to its excellent connectivity and easy accessibility to social infrastructure amenities. Unlike areas like Kharadi and Wakad, NIBM is located closer to the city centre. NIBM Road is located just 7 to 9 kms from Pune railway station, around 6 kms from MG Road and Swargate and around 14 kms from Pune Airport. The area also offers excellent transportation facilities by way of frequently plying buses and auto rickshaws. Besides this, NIBM Road is located close to areas like Hadapsar, Kondhwa, Undri and even Camp.

In terms of social infrastructure, NIBM Road offers nearly all kinds of amenities and facilities that are required for a comfortable living. Prominent educational institutions like Delhi Public School, Bishop School, SSM Society College of Engineering, National Institute of Bank Management, BEP Global Vision and Vishwakarma Institute of Technology are all located within 3-5 kms radius from this area. Clinics, hospitals, eateries, shops, banks, ATMS, post office, the new Bizzbay mall, the upcoming Dorabjee Paradise mall and clubs like Corinthian Club are other facilities that are easily accessible in the area and also why people prefer to invest and reside here.

Witnessing the growing demand for residential units in NIBM Road, several reputed developers have made their presence felt through their quality housing projects. Kolte Patil Developers Ltd, Ahura Builders, Urban Homes, Shobha Developers, Goel Ganga Developers, Ekta World, Lushlife Developers, Niche Constructions and Brahma Builders are some of the prominent realty developers who have their projects here. These developers have mostly developed housing projects offering 2BHK residential units while some of them also offering 1 to 4 BHK for prospective buyers.

A well-developed locality that offers lush green surroundings and a relatively pollution-free environment, NIBM Road is a delight for buyers. The current property rates for buying a flat in a multi-storey apartment in this area vary between Rs. 5500-Rs. 5850 per sq. ft., which has only risen in the last five years. In fact experts assert that property investments made now will reap good returns in the coming three years. These claims definitely make NIBM Road a good place for investment.

Though this very popular area is getting saturated, it is still a preferred area for many. According to data, a major number of buyers in this area are end users who are typically well-educated professionals working in neighbouring IT and industrial areas. This fast-developing locality presently offers a number of new residential projects and with property rates also increasing rapidly; there are lots of options for investment as well as rentals. Prospective buyers can find their desired residential project offered with the best of specifications and features and that too within their budget.

A highly planned and maintained locality, NIBM Road is one of the nice and prime localities of Pune city that offers nearly all facilities to its dwellers. A cosmopolitan locality that is well-connected, safe and offers good returns on investment is certainly one of the most promising areas to look for investment in Pune.

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Ashiana Landcraft, Sector 88A, Gurgaon

Ashiana’s latest residential venture is set to highlight the glittering skyline of Gurgaon. The Landcraft Residential Apartments is coming up in Sector 88A and is one of their most spectacular projects. Knowing Ashiana’s amazing track record, it will be no surprise that latest designs and innovative architecture are the hallmarks of this project too.

The complex will contain two, three and four BHK flats. The two BHK flat will cover an area of 1450 sq ft and will be priced at Rs 92.08 lakhs. The three BHK residences come in two types – one regular and one with an attached study. The regular one is smaller with an area of 1750 sq ft and costs Rs 1.09 crore. The larger three BHK flat will have an area of 1950 sq ft and is available for Rs 1.22 crore. 

The largest apartment on offer is a four BHK that covers an area of 2350 sq ft. It is quite reasonably priced at Rs 1.47 crore. Possession is set to begin by early 2016. The location of the apartments is also perfect as Sector 88A is one of the most sought after areas of Gurgaon. It is also situated next to the Dwarka Expressway, which means easy connectivity to NH-8. The industrial centre of IMT Manesar is also very close. 

All features of a modern, well planned apartment complex are available here. From gymnasium, swimming pool to clubhouse and tennis courts, the Ashiana Landcraft has not missed a beat in providing the best comforts to its residents.   

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Thorve Vishva Apartments, Baner, Pune

Thorve Vishva is constructing a new residential apartment complex in Baner-Balewadi Main Road, Pune. It is an affluent, cosmopolitan area and is very close to the centre of the city. The complex will consist of only two BHK flats. The approximate cost starts from Rs 58.50 lakhs. The area covered by the flats will be 888 sq ft. Of this, living quarters will account for 600 sq ft and balcony for 110 sq ft. Possession is likely to begin by March 2015.

The apartments are located in a prime area of Pune. It is well connected to all parts of the city and has a number of public amenities too. Pune Airport is just 15 kms away and railway station is at a distance of 4 kms. There are a number of famous hospitals and educational institutions in the area. There a number of facilities provided by the builders also. Ample car parking space is available for all residents. Water Storage methods are followed to ensure constant supply of water. There is a Fire Alarm service in case of emergencies and security services are provided around the clock. Flooring will be in the form of vitrified tiles. Staircases and doors will have marble framing. The presence of a park within the locality adds to the natural beauty. The entire environ will be that of a small, peaceful society within a larger developed area. If you are someone who prefers a peaceful life with the option of public amenities close by, this project could be a great choice.

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Importance of Conveyance Deeds

The word ‘conveyance’ itself means the process of transferring something from one person or location to another. Hence, a Conveyance Deed literally denotes a legal document signed and sealed by an owner (seller) and a buyer stating the transfer of the purchased property from one to the other. It is the final document given by the builder to the buyer, transferring the ownership of the land on which the house is built. The conveyance deed declares the complete legal ownership of the purchased property by the buyer. It is a very important document as it conveys the ownership title of the entire structure of the property and the land attached to it from the original owner to the final purchaser.

Importanc

A Conveyance Deed is mandatory for the proper registration of the purchased property from the owner to the buyer. It is of the utmost necessity that it should be done within 3 to 4 months after registration of the property. It is the responsibility of the builder to submit the registration application with the co-operative housing society stating the change in ownership of the property, which then confirms the sale. This deed is considered vital as it hands over the legal rights of the purchased property to the owners.

Some of the benefits of the conveyance deed, sometimes known as deed of conveyance, include getting legal title ownership of the property, tax and all other benefits of purchasing and owning the property, getting compensation from the builder on redevelopment of the property. Finally, the conveyance deed guarantees the sale of the property and it can be used as solid proof in times of need. Apart from all this, one of the most important points to be noted is that Conveyance Deed is executed only in the case of freehold allotments only. This freehold status is granted by the government to all residential, commercial and Industrial plot owners.

Conveyance Deed – Processes Involved

•    The sale price of the building/property is decided by the Engineering Management.
•    Society Registration of the building with the Registrar.
•    Building plans and other technical details to be provided by the engineering department.
•    Sale deeds and lease deeds are prepared by the estate management office or by the community development wing.
•    Draft copy of the agreement is sent to the Legal Advisor or the department for verification.
•    Final copy is then sent to the Co-operative Housing Society for the completion of the process.

After the completion of all the above mentioned processes, the payments and other necessary documents are received. The right of ownership of the flat is handed over to the allotted person or the buyer, and the property possession is taken over by the purchaser.

The most important objective of this deed is the legal ownership of the property with free and marketable title for the owned property. This is considered the most important document for all property owners, and it is highly recommended to have this deed signed and documented within a few months of the registration of the property.

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Best Commercial Property Locations in Bengaluru

Bengaluru is the capital of Karnataka, and is also known as the 'Garden City' and 'Silicon Valley of India'. This city is very famous for its Information Technology sector, and has many tourist attractions and sightseeing spots. As a rapidly growing metro city, it is said to be developing into a major cultural and financial hub. Bengaluru is home to many prominent Indian software companies like Wipro, Infosys, HCL and Polaris, apart from having Fortune 500 companies like Microsoft, Oracle, Apple, SAP, etc.

For more than a decade, numerous ITES (Information Technology Enabled Services) and BPO (Business Process Outsourcing) companies have been establishing their offices in this city. This has caused an active demand for commercial investments in Bengaluru. The real estate in the city has been witnessing a steady growth and new trends, and has created many opportunities for expansion. These are some of the best commercial properties in Bengaluru:

Brigade Road

Brigade Road, as the name suggests, was once used by the British. Today, it is among the topmost locations for shopping and for commercial investments in Bengaluru. It is also one of the biggest commercial centres and busiest shopping areas of the city. It is located between two major roads of Bengaluru, namely M.G.Road and Residency Road. It has numerous shopping centres and retail outlets of international brands. Some of the prominent stores found here include Lee, Raymond’s, Adidas, Reebok, Van Heusen, Planet M, Tommy Hilfiger and Titan and so many more. It has been named as the best street for shopping in the whole country.
The rental values for commercial property in Brigade Road are listed below:
The highest locality price is around Rs. 70 per square foot.
The lowest price is around Rs. 55 per square foot.
The average is around Rs. 65 per square foot.
The return on investment has witnessed a decrease of 2% q-o-q in June 2013.

Koramangala

Koramangala, located in the south-eastern part of Bangalore, is one of the most sought-after residential areas ,having wide tree-lined avenues and sophisticated bungalows. It acts as the major point of contact between many busy main roads like the Intermediate Ring Road (which links the Airport Road with Hosur Road and Electronic City), Sarjapur Road(which links to Outer Ring Road) and 80 Feet Road (connects to Vivek Nagar and M.G. Road). It is considered to be the city’s most happening place. Koramangala also contains many famous shopping malls and centres like The Forum, Raheja Arcade, and Star Bazaar, along with the most prominent Koramangala Club House. This locality boasts easy access to the city centre and the Inner and Outer Ring Roads, which is a major attraction for not only residential but also for development of commercial property. Returns on Investment (ROI) is guaranteed for any commercial property in this locality.

• The rental values for office space in Koramangala are listed below:
• The highest locality price of is around Rs. 60 per square foot.
• The lowest price is around Rs. 50 per square foot.
• The average is around Rs. 55 per square foot.
• The return on investment has witnessed a decrease of 4% q-o-q in June 2013.

Bannerghatta Road

Bannerghatta Road, also commonly known as BG Road, is the Indian State Highway connecting Bengaluru city with neighbouring towns like Anekal and Bannerghatta Jigani. The growth and development is mostly driven by its easy accessibility with many IT zones, medical facilities and shopping areas. This locality boasts many prominent housing complexes like Purva Heights, SJR Luxuria, and Mantri Residency, etc. Apart from this, the proposed Phase 2 of Metro is an added boost to the transportation of this locality and is sure to have a drastic impact on the real estate values. This place is also considered a hub for marble and granite retailers.

• The rental values for commercial property in Bannerghatta Road are listed below:
• The highest locality price of is around Rs. 55 per square foot.
• The lowest price is around Rs. 40 per square foot.
• The average is around Rs. 50 per square foot.
• The return on investment has witnessed a decrease of 2% q-o-q in June 2013.

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Indira Nagar: Most Preferred Property Destination

Indira Nagar is a medium-sized suburb in the eastern part of Bengaluru. It is often referred to as the blue collar locality, as the residents range from being reputed sportsmen, politicians, celebrities and high-class executives, etc. It is considered to be one of the costliest areas to reside in Bengaluru. This place is bounded by Ulsoor in the west, Domlur to the south, Byapanahalli to the south and Vimanapura to the east. The Defense Colony situated in this locality is surrounded by huge bungalows, with lush green tress neatly arranged on both sides of the road. Indira Nagar is divided into 2 stages, of which the 1st stage is the largest. The properties in Indira Nagar are always in demand, as it is considered to be a cosmopolitan locality, with people from all parts of India residing here in harmony with one another.

History

Indira Nagar was initially formed as a BDA (Bengaluru Development Authority) layout in the early 1980s and was named after the former Prime Minister of India, Indira Gandhi. In the inaugural days, this locality was essentially a residential area with huge bungalows and independent houses, which were mostly owned by defense personnel. But with the boom of Information Technology in Bengaluru in the late 1990s, this locality got converted into a semi-commercial area. In the present, Indira Nagar real estate is reaching sky-high and is considered to be an important residential and commercial hub of Bengaluru.

Transport & Connectivity

This locality is very well-connected to many areas of Bengaluru via the BMTC buses and also has a separate bus depot in this locality. The Namma Metro Purple Line which passes through Indira Nagar has two stations within the neighbourhood, namely the Indira Nagar and the Swami Vivekananda Road stations. It is situated at a distance of just 4 km from M.G. Road and about 6 km from Shivaji Nagar Bus Terminus. It is situated at a distance of 10 km from the Majestic Bus Terminal, and is in very close proximity to IT hubs like Electronic City and Whitefield, which in turn has boosted the sale of many residential apartments in Indira Nagar and its surrounding localities.

Localities

Indira Nagar has many sub-localities, like Jeevanbheemanagar, HAL 1st, and 2nd & 3rd stages, Old/New Thippasandra, Kodihalli, 515 Colony, Annayappa Garden, Geetanjali Layout, Defense Colony, Michealpalya, Doopanahalli, Appareddypalya and Mottappanapalya.

Indira Nagar – Mini Bengaluru

Indira Nagar is also known as ‘Mini Bengaluru’, as the locality in itself has many zones like temples, shopping centres, fitness centres, schools and colleges, well-known hospitals, cultural arenas and many more. When compared to other areas of the city, Indira Nagar is among the top-most preferred locations for settling down, and is considered to be the best residential area.

Real Estate Trends

Some of the residential projects in this posh locality include Prestige Glenwood, Pragathi Nisarga, Lake Vihar, Purva Midtown Residences, Prestige Tranquility, Brigade Exotica, Windsor Township, Indus Signature, Sudarshan Ruby, Golden Daffodils, Pride Picassa, Pooja Residency and Trinity Court. The highest locality price of residential multi-storey apartment in Indira Nagar is around Rs. 9070 per square foot and the lowest price is around Rs. 8089 per square foot. The average is around Rs. 8582 per square foot. The return on investment has witnessed an increase of 1% q-o-q in June 2013. The average rental value of a commercial showroom in this locality is around Rs. 102 per square foot. The locality has good connectivity and is in very close proximity to IT hubs, all of which makes it an ideal destination for property purchase and investment.

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Infrastructure Development Triggering Real Estate in Bhandup West

Bhandup is regarded as Mumbai’s oldest suburb. A few decades ago, Bhandup was a dense forest area that slowly witnessed the growth of industries; now, it is transformed into a prominent location for real estate investors, and still it has significant potential for further growth. The name Bhandup originated from the name Bhandupeshwar, another name for Lord Shiva. One can still find the Bhandupeshwar Mahadev Mandir, an old temple in Bhandup West.

Strategically situated on the north-eastern part of Mumbai, this suburb is located adjacent to the Eastern Express Highway towards the Thane side and is around 25 km from Mumbai. Bhandup is divided into east and west, and is more affordable choice as it offers better value for money in comparison to neighbouring Mulund and Ghatkopar. In this article we are looking at Bhandup West and why it is an ideal choice to invest in Bhandup West properties. This locality takes pride that Crompton Greaves was one of the first industry to establish here in 1937. Currently, Bhandup West is populated with industries like BASF, Asian Paints Limited, CEAT Tyres, the Indian Smelting And Refining Company Limited, etc. Apart from these big corporates, there are several small-scale manufacturing units scattered all over Bhandup West.

Accessibility
To invest in property in Bhandup West will be advantageous to an investor as this locality has got superb connectivity to suburbs like Powai, Mulund, Vikhroli, Kanjurmarg and Thane. This is also a prime growth driver for demand for properties in Bhandup West. Also, the residents of flats in Bhandup West find themselves at a stone’s throw distance from the commercial belt like the Badra-Kurla Complex, Vikhroli, Powai and Kanjumarg. The connectivity to Mumbai city has improved to a lot extent due to some of the important highways that pass through Bhandup West, they are:

•     Four-lane LBS Marg, an arterial road in Bhandup West that connects Mulund to Sion at one end and Mulund-checkanka that opens at Thane city.
•     Eastern Express Highway on one side and the Western Express Highway on the other side    that helps connecting to eastern and western suburbs.
•     Airoli-Mulund bridge interconnects Eastern Express Highway to get linked to Navi Mumbai.
•     Jogeshwari-Vikhroli Link Road from LBS Marg shortens commuting time to reach the  western suburbs of Mumbai.

Apart from these, there are rail connectivity via Nahur railway station near Bhandup West and Metro rail at Ghatkopar. Then there is network of buses to get connected to all parts of Mumbai city from Bhandup West. This suburb has some special privileges like special ladies bus in the mornings for female commuters from Bhadup to Andheri East.
 
Education, Entertainment and Health Care

Bhandup West has adequate health care, school and entertainment hubs to lure investors to buy upcoming new projects in bhandup west. Some of the good schools in this suburb are Kendriya Vidyalaya, Pawar Public School, St Xavier’s High School and Junior college, Shyadri Vidya Mandir, etc. One can also find DAV School in Airoli in close proximity. Good colleges like Ratnam College, Swami Vivekananda College, Sriram College, and ICE College of Hotel Management are also found in close proximity. With hospitals like Wockhardt come up in this locality, the demand has even grown more for flats in Bhandup West.

There are enough malls     like Neptune Magnet Mall; Dreams the Mall and Easyday Hyper to keep one entertained in their leisure outings. If this is not enough, there are football and cricket clubs for the sports enthusiastic.

Real Estate in Bhandup West

In the past few decades, Bhandup West has seen drastic changes in terms of infrastructure, transportation, connectivity and lifestyle that has uplifted Bhandup West property and is considered as a valuable real estate investment hub.

Workforce working in the industries in Bhandup West, and nearby localities like Bandra-Kurla Complex, Vikhroli, and Powai are interested in investing in this suburb due to its good connectivity.
Some of the prominent builders in Bhandup West are Kalpataru Group, Lodha Group, Neptune Developers, HDIL Group, and Mahindra Lifespaces among others. A few of the new projects in Bhandup West are Beauty Landmark by Sankalp Group, Kalpataru Crest by Kalpataru Group, Neptune Flying Kite by Neptune Group and Shramik Residency by Mpatankar Buildcons Pvt. Limited. Most of the builders and developers are providing some of the best facilities in town at affordable prices to encourage investment.

Price Trend

Residential – Multistorey apartment: Return on Investment in flats for sale in Bhandup west is witnessing a hike of 4% q-o-q. Even the rental property is on a similar trend.
The highest locality price is Rs. 12,400 per square foot
The lowest locality price is Rs. Rs. 12,100 per square foot
The average locality price is Rs. 12,300 per square foot
The rental value is priced at Rs. 27 – Rs. 29 per square foot.
Commercial – Commercial office space: Return on Investment for commercial office space for sale in bhandup west is witnessing an increase of 5% q-o-q.
The highest locality price is Rs. 80 per square foot
The lowest locality price is Rs. 70 per square foot
The average locality price is Rs. 75 per square foot
The rental value is priced at Rs. 70 – Rs. 77 per square foot
With so many facilities and amenities in and around Bhandup West this locality has definitely emerges as an important residential hot-spot. And, in coming years, this locality is undoubtedly is going to become a more suitable and well-organised residential hub.

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Best Residential Localities in Noida

Noida, short for 'New Okhla Industrial Development Authority', is located in the Gautam Buddh Nagar district of Uttar Pradesh. This city’s administrative headquarters are located in neighbouring Greater Noida. Noida is considered a major hub for many multinational companies like Dell, EXL Service, Accenture, Samsung, Indus Valley Partners, etc. Having well-planned IT parks and industries which provide huge employment opportunities, and also having good connectivity with major areas, have all been factors in the development of real estate and properties in Noida. The best residential localities in Noida and its surrounding localities have been listed below:

Noida Extension

Noida Extension is situated 18 km from the Connaught Place, which is the most important business location in Delhi. It is considered an upcoming residential suburb around the NCR region, and promises to be the most affordable housing destination. Apart from this, the upcoming metro rail link will also help to boost the connectivity between Noida and the capital. This locality also has superior infrastructure and transportation facilities. Owing to all these factors, Noida Extension projects are considered the most attractive property destinations by many. The highest locality price of residential multi-storey flats for sale in Noida Extension is around Rs. 3495 per square foot and the lowest price is around Rs. 3175 per square foot. The average is about Rs. 3335 per square foot. The return on investment has witnessed an increase of 4% q-o-q in June 2013. The average sale price of commercial office space is around Rs. 4110 per square foot.

Greater Noida

Greater Noida is one of the upcoming educational and industrial hubs of the city. It has very good connectivity, with the six-lane national highway connecting Greater Noida with Noida. It also has many IT/ITES companies in its surroundings. It has excellent infrastructure with impressive residential and commercial facilities, all of which act as major attractions for high-end investors to invest in this locality and brings an influx of people into this area. These factors have boosted the popularity of Greater Noida real estate and its surrounding localities. The highest locality price of residential multi-storey flats for sale in Greater Noida is around Rs. 4120 per square foot and the lowest price is around Rs. 3550 per square foot. The average is around Rs. 3845 per square foot. The return on investment has witnessed an increase of 4% q-o-q in June 2013. The average sale price of commercial office space is around Rs. 10975 per square foot.

Noida Expressway
Noida Expressway is easily accessible from GT Road or the DND Flyway of Delhi city. This is a six-lane highway connecting Noida with Greater Noida. Noida Expressway has excellent connectivity with South Delhi through the DND. Major attractions for investors in this locality are its good infrastructure and affordable residential properties. With more and more IT/ITES companies coming up in this locality, there is an increase in the demands for residential flats in Noida Expressway and apartments. The highest locality price of residential multi-storey flats for sale in Noida Expressway is around Rs. 5030 per square foot and the lowest price is around Rs. 4530 per square foot. The average is around Rs. 4780 per square foot. The average sale price of commercial office space is around Rs. 20100 per square foot.

Sector 62 Noida

One of Noida's well-established sectors, Sector 62 is basically a residential and commercial property. With the increasing expansion of Noida, this area has become the central point for connecting many commercial areas like Sectors 16, Sector 63, etc. Moreover, this locality has well-renowned schools, hotels and a host of local markets, all of which adds to the real estate boom of this locality and has increased the sale of Sector 62 Noida properties. The highest locality price of residential multi-storey flats for sale in Sector 62 Noida is around Rs. 6300 per square foot and the lowest price is around Rs. 6015 per square foot. The average is around Rs. 6160 per square foot. The average sale price of commercial office space is around Rs. 7085 per square foot.

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Thiruvanmiyur, Chennai’s Residential Abode

Thiruvanmiyur is one of the posh residential areas located in the southern part of Chennai. The name is derived from Thiru-Valkmiki-Ur, which means a location where the temple of Valkmiki exists. The real estate skyline has undergone a drastic change after the inauguration of one of the first IT Parks in Chennai, Tidel Information Technology Park. This area is also famous for the Marundeeswarar Temple, dedicated to Lord Shiva, where worshippers come from all parts of city and for the Kalashetram which is a cultural academy that develops and conveys Indian culture to their students. This locality is bordered by Adyar, Besant Nagar, Taramani, Indira Nagar and Kottivakkam. Being a posh locality, the property values are much higher when compared to similar-sized properties in other parts of Chennai.

Reaching Thiruvanmiyur

The area is easily accessible from any part of Chennai via trains and buses. The nearest rail station is Thiruvanmiyur Mass Rapid Transit System Railway line that connects it to Velachery and to Beach via Chennai Central station. This railway station is just opposite to Tidel Park, which is a great boon to the workforce which works in different companies in Tidel Park. This locality has its own bus terminus from where regular buses ply to different locations of Chennai including North Chennai. They are Perambur, Thiruvotriyur, Tambaram, CMBT, Broadway and T. Nagar.

Government is proposing new flyovers in this area to reduce the traffic congestion at the peak hours. This new flyover will start near Tidel Park and will connect the Old Mahabalipuram Road (OMR) and the East Coast Road (ECR). Thiruvanmiyur is considered a junction from where the ECR starts and leads to Mahabalipuram and Pondicherry. The demand for flats and apartments in Thiruvanmiyur will increase once the flyover is up and running.

Education, Hospitals and Entertainment

The availability of good school, college and hospital makes it one of the preferred locations for builders in Thiruvanmiyur. Good and reputed schools housed in Thiruvanmiyur are Besant Arundale Senior Secondary School, Sri Sankara Vidhyashram Matriculation School, A School, Al Fajr International School, Kendriya Vidyalaya, American International School, Sishya School and Achariya Bala Siksha Mandir. Numerous engineering colleges have cropped up in and around Thiruvanmiyur. Some of them are Jeppiaar Engineering College, Vel Tech Engineering College, Anna University Engineering College and Sri Venkateswara College Of Engineering among others. Leading hospitals like Malar Hospital and Voluntary Health Service are found in its vicinity. Since so many profession colleges are opening near this locality, it’s easier for the residents of Thiruvanmiyur apartments to access them.

When it comes to entertainment, the resident of Thiruvanmiyur flats prefer to enjoy the picturesque beach which is just 1 km from this area. After a peaceful time at the beach, one can relax at KFC, Dominos, Pizza Hut, Vegnation and White Pepper in Thiruvanmiyur.

Real Estate:

Thiruvanmiyur builders are offering different project to suit the choice of wide variety of people. The growth of real estate is primarily attributed to its connectivity to city centre and the IT corridor OMR. The residential demand for rent and purchased is boosted up due to the connectivity and well developed social infrastructure. One can find a mix of small and large projects offering all kind of configurations. The demand for 2 and 3BHK ranging from 900 to 1200 square feet are in vogue. Flats, Villas, residential houses, gated community are some of the new residential projects under Thiruvanmiyur real estate.

Ongoing projects in Thiruvanmiyur are, Anmol Vishwakarma by Anmol Shrusti, Springs by Appaswamy Real Estates, Sonnet Square by Lancor and TVH Subuthi Thiruvanmiyur by True Value Homes among others. Mostly all the builders provide furnished apartment with all modern lifestyle facilities and amenities, as the demand is more from high paid professionals and businessman.

Price Trends

The flats for sale in Thiruvanmayur are witnessing a decrease of 7% q-o-q. The highest locality price is Rs. 10500 per square foot; lowest locality price is Rs. 9400 per square foot and the average locality prices is Rs. 9900 per square foot. The residential house witnessed 17% decline in rental sector. The rental valued has dipped Rs. 20 per square foot. The rent for commercial space is costing around Rs. 103 per square foot.

Thiruvanmiyur is one of the preferred residential localities in Chennai and, as there is a constant improvement in the infrastructure like road-widening projects and new flyovers to link IT corridors, the locality will always retain the demand for residential and commercial real estate.

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Chennai’s Growing Suburb worth Investing: Thoraipakkam

Thoraipakkam is one of Chennai’s fastest growing localities, since it connects the major IT companies to the city, and it is located on the Old Mahabalipuram Road (OMR), the first six-lane road on Chennai, also known as the IT Expressway. This locality is on the eastern banks of the Pallikaranai Marsh and is just 3 kilometres in length, starting from Perungudi to the north. Till 2011, it was a part of village panchayat in Kancheevaram district; later, it was incorporated within Chennai Corporation limits.

Reaching Thoraipakkam

As this locality is known as one of the IT corridors, connectivity to this locality has become very convenient. One can find regular MTC buses from Madhya Kailash, Adyar, Velachery, High Court, T. Nagar, Koyambedu, Parry's Corner and Mahabalipuram to this locality. Apart from these, the bus which plies between Sholinganallur and Kelambakkam passes through Thoraipakkam making it easier for the residents of Thoraipakkam flats. Also, there are share autos, which are a popular mode of commutation. The nearest rail station is Velachery Mass Rapid Transport System, which is just 5-6 km from Thoraipakkam.

Thoraipakkam is well-connected to the Grand Southern Trunk (GST) Road via the Thoraipakkam Pallavaram Radial Road. After the construction of Radial Road, Chennai Airport is just 20 minutes away from this locality. This road has changed the whole outlook of Thoraipakkam, as it enables quicker and easier movement of traffic between the major arterial roads to the south of Chennai including GST Road and Tambaram-Velachery main road and Old Mahabalipuram road.

Entertainment, Healthcare and Education

Having good school and hospitals in close proximity enhances the creditability of any locality. Thoraipakkam is blessed with well-known international schools. Some of them worth mentioning are APL Global School, RMT International, Al Fajr International School, British International School, Gateway American International School and German International. One can also find an arts and science college, Dhanraj Baid Jain College (DB Jain College), which is known as an oldest landmark in this area. Some of the good hospitals in this locality are Nanthini Hospital, R.M. Hospital and Take Care Hospital. Builders are constructing apartments in Thoraipakkam keeping in mind the proximity to all these facilities.

Real Estate growth

As a huge number of IT companies like Cognizant, TCS, Amazon, TVS Infotech and other have established their operation here, the real estate skyline has drastically changed. Thoraipakkam has become a residential as well as commercial hub for the builders and developers of Chennai. Builders are coming up with villas, multistory apartments and good residential projects in Thoraipakkam. Some of the well known ongoing projects in residential sector in Thoraipakkam are Mulberry Apartments by Green Leaves Estate, Jains Pebble by Jain Housing and Constructions, Hibiscus by City Land Promoters and Palican Nest by Elegant Constructions. Some of the builders are providing various amenities like garden, swimming pool, 24 hrs power back-up, club house, gymnasium, rain water harvesting among others to attract the IT professionals working in nearby IT companies. Mostly all the flats in Thoraipakkam are in the 2 BHK to 4 BHK configurations. Even after such developments property prices are affordable when compared to posh localities like Velachery.

Real Estate Prices

The flat for sale in Thoraipakkam is also seeing a downtrend of 3% in q-o-q. The highest locality price is Rs. 5500 per square foot, the lowest being Rs. 5000 and the average cost per square foot is Rs. 5300. The rent for residential houses and flats in Thoraipakkam is Rs. 14 to 15 per square foot. The rent for commercial property like office space is Rs. Rs. 50 per square foot in Thoraipakkam. The price of land for sale in Thoraipakkam is sky-rocketing, it ranges from few lakhs to crores.
For residents who are looking for affordable apartments near to work area, good schools and with good amenities can definitely make Thoraipakkam their home.

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Tiruvallur: Transforming itself from Temple Town to Chennai’s Industrial Hub

Tiruvallur is a temple town and a Grade I municipality in Tiruvallur district. It is located about 42 km northwest of Chennai city on the banks of the Cooum River, and is the administrative headquarters of Tiruvallur district. Due to its strategic position, the eastern part of Tiruvallur district is dominated by urban characteristics while the northern and southern part of the district are influenced by Andhra culture. The district has been divided into three revenue divisions -Tiruvallur, Tiruttani and Ponneri. It is famous for the Veera Raghavar Temple, which is one of the 108 sacred shrines of Vaishnavites.

Accessibility

Tiruvallur lies on the Chennai-Bangalore railway line and the Chennai-Tirupati Trunk Road, hence it is easily accessible by both rail and road. The nearest rail station is Tiruvallur railway station, that connects it to the Chennai Suburban Railway network. The MTC bus service is available from Tiruvallur to most of the important places in Chennai like Poonamallee, Porur, Guindy, Saidapet, Vadapalani, Broadway, Tambaram, T. Nagar, Sriperumbadur, Ambattur and CMBT.
There are two major roads connecting Chennai to Tiruvallur; one is through Avaadi-Amabatur-Villivakam and the other is via Poonamallee and Koyambedu. People living in the flats in Tiruvallur and working in Chennai city can easily transport themselves using these facilities.

Education, Hospitals and Entertainment

Many good schools and professional institutions have cropped up in this temple town in recent times. Some of them are C.S.I. Goudie Higher Sec. School, Christ King Higher Secondary School, Chellammal Vidyalaya Metriculation Higher Secondary School, CSC Vivekananda Vidyalaya Matriculation School, Sri Venkateshwara Matric. Higher Secondary School, Sri Ram Engineering College, Victory Institute of Catering & Hotel Management, Bhajarang Engineering College, E.V.P. Engineering College, Indira College of Education, Indira College of Nursing, Jaya College of Paramedical Science, Thiruninravur, Madha Engineering College, Prathyusha Engineering College, Priyadarshini Dental College & Hospital, Sree Sastha Institute of Engineering and Technology, Srinivasa Institute of Engineering and Technology, Poonamallee. Leading hospitals like Billroth Hospital, Shubham Hospital, and Suriya Hospital are also found here. One can also find good reputed restaurants in this locality such as Adyar Bakery, Marrybrown, Shezan Arabian Food and Natural Fresh.

Tiruvallur is a temple town and a Grade I municipality in Tiruvallur district. It is located about 42 km northwest of Chennai city on the banks of the Cooum River, and is the administrative headquarters of Tiruvallur district. Due to its strategic position, the eastern part of Tiruvallur district is dominated by urban characteristics while the northern and southern part of the district are influenced by Andhra culture. The district has been divided into three revenue divisions -Tiruvallur, Tiruttani and Ponneri. It is famous for the Veera Raghavar Temple, which is one of the 108 sacred shrines of Vaishnavites.

Accessibility

Tiruvallur lies on the Chennai-Bangalore railway line and the Chennai-Tirupati Trunk Road, hence it is easily accessible by both rail and road. The nearest rail station is Tiruvallur railway station, that connects it to the Chennai Suburban Railway network. The MTC bus service is available from Tiruvallur to most of the important places in Chennai like Poonamallee, Porur, Guindy, Saidapet, Vadapalani, Broadway, Tambaram, T. Nagar, Sriperumbadur, Ambattur and CMBT.
There are two major roads connecting Chennai to Tiruvallur; one is through Avaadi-Amabatur-Villivakam and the other is via Poonamallee and Koyambedu. People living in the flats in Tiruvallur and working in Chennai city can easily transport themselves using these facilities.

Education, Hospitals and Entertainment

Many good schools and professional institutions have cropped up in this temple town in recent times. Some of them are C.S.I. Goudie Higher Sec. School, Christ King Higher Secondary School, Chellammal Vidyalaya Metriculation Higher Secondary School, CSC Vivekananda Vidyalaya Matriculation School, Sri Venkateshwara Matric. Higher Secondary School, Sri Ram Engineering College, Victory Institute of Catering & Hotel Management, Bhajarang Engineering College, E.V.P. Engineering College, Indira College of Education, Indira College of Nursing, Jaya College of Paramedical Science, Thiruninravur, Madha Engineering College, Prathyusha Engineering College, Priyadarshini Dental College & Hospital, Sree Sastha Institute of Engineering and Technology, Srinivasa Institute of Engineering and Technology, Poonamallee. Leading hospitals like Billroth Hospital, Shubham Hospital, and Suriya Hospital are also found here. One can also find good reputed restaurants in this locality such as Adyar Bakery, Marrybrown, Shezan Arabian Food and Natural Fresh.

Real estate growth

CMDA has proposed a plan that will develop Tiruvallur as a satellite township of Chennai. As per the plan, there is provision for adequate infrastructure for housing and other developments in order to relieve congestion in the metropolis and provide better housing facilities at affordable cost. Generally, people prefer to purchase plots in Tiruvallur for investment purposes. Builders are coming up with different projects like gated communities, row houses, individual houses and apartments in Tiruvallur. The prices are affordable when compared to neighbouring suburbs like Sriperumbudur, Kelambakkam and Maraimalai Nagar which are already-developed areas.

Tiruvallur is one of the fastest-developing districts in Tamil Nadu in terms of industrial development. The district has many leading industries like Britannia India Ltd., MRF, Madras Refineries, Madras Fertilizers, TI Cycles, Manali Petro Chemicals, Parry India Ltd., Ashok Leyland and Hindustan Motors. Its proximity to industrial areas like Ambattur Industrial Estate, Electrical Industrial Estate, SIDCO Industrial Estate in Kaklur and Gummidipundi, M.M. Industrial Estate, and Nagappa Industrial Estate has encouraged real estate in this suburb. Many people working in these industrial estates are migrating to Tiruvallur and looking out for good housing projects. Witnessing the need, the builders are flocking to this suburb. Some of the builders in Tiruvallur are Amarprakash, My Asset Developers, Bharat Estates, and VGN Developers. People interested in plots for sale in Tiruvallur can approach builders like Jemi Housing, MCB Assetz, ABI Groups and City Land Promoters.

Price Trends

The highest locality price is Rs. 13600 per square yard, and the average locality price is Rs. 6400 per square yard. Commercial property is priced at Rs. 14-16 per square foot.
As many industrial estates are coming up here and the government is also providing affordable houses in this locality, investment in Tiruvallur real estate will definitely show returns.


CMDA has proposed a plan that will develop Tiruvallur as a satellite township of Chennai. As per the plan, there is provision for adequate infrastructure for housing and other developments in order to relieve congestion in the metropolis and provide better housing facilities at affordable cost. Generally, people prefer to purchase plots in Tiruvallur for investment purposes. Builders are coming up with different projects like gated communities, row houses, individual houses and apartments in Tiruvallur. The prices are affordable when compared to neighbouring suburbs like Sriperumbudur, Kelambakkam and Maraimalai Nagar which are already-developed areas.

Tiruvallur is one of the fastest-developing districts in Tamil Nadu in terms of industrial development. The district has many leading industries like Britannia India Ltd., MRF, Madras Refineries, Madras Fertilizers, TI Cycles, Manali Petro Chemicals, Parry India Ltd., Ashok Leyland and Hindustan Motors. Its proximity to industrial areas like Ambattur Industrial Estate, Electrical Industrial Estate, SIDCO Industrial Estate in Kaklur and Gummidipundi, M.M. Industrial Estate, and Nagappa Industrial Estate has encouraged real estate in this suburb. Many people working in these industrial estates are migrating to Tiruvallur and looking out for good housing projects. Witnessing the need, the builders are flocking to this suburb. Some of the builders in Tiruvallur are Amarprakash, My Asset Developers, Bharat Estates, and VGN Developers. People interested in plots for sale in Tiruvallur can approach builders like Jemi Housing, MCB Assetz, ABI Groups and City Land Promoters.

Price Trends

The highest locality price is Rs. 13600 per square yard, and the average locality price is Rs. 6400 per square yard. Commercial property is priced at Rs. 14-16 per square foot.
As many industrial estates are coming up here and the government is also providing affordable houses in this locality, investment in Tiruvallur real estate will definitely show returns.

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