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Saturday, 16 November 2013

India's real estate market: Time for the bubble to burst?

It is a frequent motto used to emphasize the importance that a location has on the value of a real estate property. The heart of the message is clear -- if you pick the right spot to invest your property in, you can be rewarded with a handsome return on investment.

The Indian economy is in an interesting stage right now. On one end of the spectrum, signs are pointing towards an economic surge. The Sensex hit an all-time high a week ago, the RBI seems to be making all the right moves to curb inflation and bring stability to the rupee and analysts can be frequently heard commentating that finally it's a "trading market". This means the economy is picking up, the share market is ripe for investments and therefore investors and traders can take advantage of the opportunities being presented to earn profits.
To read more please visit NDTV Profit

Housing price growth moderates in first quarter: RBI

ew Delhi: Average housing price inched up by a meagre 0.89 percent during first quarter of current fiscal, although property rates were nearly 14 percent higher from year-ago levels, an RBI report said.

"The quarter-on-quarter growth in the Reserve Bank house price index at the all-India level was lower at 0.89 per cent in Q1 of 2013-14 as compared to 2.46 percent in the previous quarter," RBI said in Macroeconomic and Monetary Developments Second Quarter Review 2013-14.
To read more please visit zee business news

'Premium housing prices may fall soon on inventory pile-up'

Mumbai: Investorscan look forward to premium housing units getting cheaper by up to 20 percent and gold prices rising significantly this festive season, says a financial advisory firm.

"We are expecting premium housing projects to get cheaper by up to 20 percent... Potential buyers will not have to negotiate discounts, since realty companies are in all probability going to make such announcements," a Delhi-based financial advisory firm InvestCare said in a statement.

The high inventories can soon impact cash-flow for realtors, adding that depending on the project, a cut up to 20 percent could be possible.

"A cut in prices is definitely possible for premium housing units. If companies can cut prices, it will help bring back buyers to the market despite the weak environment", its Managing Director Ajit Mishra said.
To read more please visit   zee business news

Thursday, 17 October 2013

Pune based Kolte-Patil Developers announces four new projects

Pune based Kolte-Patil Developers (KPDL) has announced four new luxury projects in the city, to be spread over 1.8 million sq ft. Ltd.

Rajesh Patil, Chairman & Managing Director, Kolte-Patil Group said, “We at KPDL are pleased to add these projects to our Pune portfolio. KPDL always strives to come up with projects that are in sync with the modern times, and at the same time, offers buyers’ a holistic lifestyle. We are sure these projects will be resounding success and will help us further consolidate our position as one of the leading real estate companies in Pune.” Two of these projects, Tuscan Estate Signature Meadows and Downtown will be located in Kharadi, 24K Glamore at NIBMRoad- Undri and 3rd Avenue at Life Republic near Hinjewadi.

To read more please visit - indiarealtynews.com

Wednesday, 16 October 2013

Sebi issues draft norms for Real Estate Investment Trusts.

Mumbai: Looking to attract more investments into the capital market, Sebi on Thursday proposed listing of Real Estate Investment Trusts (REITs), a popular instrument for raising funds in the realty sector.

Issuing draft norms for REITs, the capital market watchdog said the evolution of such investment vehicles is "crucial" for the rapidly growing real estate industry.

REITs would be allowed to list on stock exchanges through Initial Public Offer (IPO) and can raised funds further through Follow-On Offers, according to the consultation paper and draft norms issued by Securities and Exchange Board of India (Sebi).
To read more,please visit - Zee business news


Things you must know about the Land Acquisition Bill

The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Bill, 2012 –
The Bill will replace the existing Land Acquisition Act, 1894.

State still holds crucial strings
The first steps towards drafting a new Bill that includes relief and rehabilitation (R&R) began under the NDA government a decade earlier. The government fell after readying the R&R policy. The first UPA government introduced two proposed laws in the Lok Sabha in 2007. But these were redrafted after Jairam Ramesh took over as minister for rural development. The present version — The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Bill, 2012 — underlines the government's stated focus on fair compensation rather than fast acquisition

When land can be acquired: For private projects, public-private partnerships (PPPs) and for government projects, provided it is for a public purpose

What is public purpose for land acquisition: Strategic use by the armed forces, paramilitary, state police; for national security; for infrastructure projects, including activities listed under the department of economic affairs (infrastructure section), excluding private hospitals, private education institutions and private hotels; projects related to industrial corridors, mining, national investment and manufacturing zone, sports, healthcare, tourism and space programmes; housing projects for income groups specified by government, projects planned for development of village sites, residential areas for lower income groups in urban areas; projects involving agro-processing, warehousing, cold storage, marketing infrastructure, dairy, fisheries and meat processing cooperatives

Pre-condition for acquiring: For a private entity or a PPP project, state has to conduct a social impact assessment (SIA) and an environmental impact assessment (EIA), to identify the families who would be affected if land was acquired. The private entity seeking land must then get the consent of 80 per cent of the affected families before it gets the government to acquire land for it. In the case of PPPs, the entity has to secure consent of 70 per cent of affected families. The third condition for getting possession of land acquired through state intervention is payment of compensation and fulfilling of R&R requirements

Compensation package: Up to four times the market value in rural areas and twice the market value in urban areas; the Bill provides compensation to those dependent on the land for livelihood; where acquired land is sold to a third party for a higher price, 40 per cent of the appreciated land value (or profit) will be shared with the original owners. This would be exempt from tax and stamp duty

R&R package: The definition of affected family includes farm labourers, tenants, sharecroppers and workers in the area for three years prior to acquisition. The compensation would be Rs 5 lakh or a job, if available, to the affected family; subsistence allowance of Rs 3,000 a month for one year; miscellaneous allowances of up to Rs 1.25 lakh for each family

Dispute authority: A Land Acquisition and Rehabilitation and Resettlement Authority to be established

Retrospective clause: Applicable on cases where no land acquisition award made. In cases where land was acquired five years ago but no compensation has been paid or no possession happened, the acquisition process to start again

Lease option: The Bill allows industry to take land on lease, instead of buying. But the decision rests with the state rather than the landowner

Why industry is upset: Make the land acquisition process slower; compensation would raise costs of projects fivefold; retrospective application clause not favourable

Multicrop farmland: Irrigated farmland out of acquisition ambit for non-farm uses. But state can decide to what extent farmland should be protected. The farmer does not have any say in the matter

Problematic clauses: No guarantee of jobs in R&R package; compensation calculated according to circle rates much less than market prices; no protection to farmland; state government to decide if unused acquired-land should be returned to the farmer or added to its land bank. This applies even if owners return the compensation

Wednesday, 28 August 2013

Property rates update Pune


Area  Rate Updated on
Akurdi 3683 - 5554 Aug-13
Alandi 3419 - 3526 Aug-13
B.T. Kawade road 5464 - 6146 Aug-13
Balewadi 5517 - 6280 Aug-13
Baner Road 5500 - 6796 Aug-13
Baramati 2000 - 2000 Aug-13
Bavdhan 5500 - 6517 Aug-13
Bhavdhan Khurd 7112 - 7133 Aug-13
Bhandarkar Road 10300 - 14000 Aug-13
Bharti Vidyapeeth  3704 - 4734 Aug-13
Bhawani Peth 6289 - 6289 Aug-13
Bhosale Nagar 9787 - 12667 Aug-13
Bhosari 4407 - 6519 Aug-13
Bibwewadi 5791 - 7391 Aug-13
Bopodi 5155 - 5862  Aug-13
Bund Garden 9583 - 9861  Aug-13
Camp Area 7581 - 9763  Aug-13
Cantonment 3500 - 8000  Aug-13
Chakan 2510 - 2886  Aug-13
Chinchwad 33 4696 - 5304 Aug-13
Dange chowk 4673 - 5239 Aug-13
Dapadi 4509 - 5311 Aug-13
Dattawadi 3429 - 3429 Aug-13
Deccan gymkhana 13765 - 13765 Aug-13
Dehu road 3169 - 3415 Aug-13
Dhankawadi 3023 - 4404 Aug-13
Dhanori 4097 - 5027 Aug-13
Dhayari 4026 - 4549 Aug-13
Dhole Patil Road 7682 - 9047 Aug-13
Dighi 3500 - 4700 Aug-13
Erandwane 7839 - 10729 Aug-13
F.C. Road 11874 - 20170 Aug-13
Ghorpadi 3379 - 5296 Aug-13
Ghuruwar Peth 4587 - 6075 Aug-13
Hadapasar 22 3431 - 4282 Aug-13
Hadapasar 28 3928 - 5726 Aug-13
Hadapsar 3929 - 5281 Aug-13
Handewadi 3729 - 4338 Aug-13
Hinjewadi 3950 - 5077 Aug-13
Kalewadi 3934 - 5049  Aug-13
Karve Nagar 6052 - 7496 Aug-13
Karve Road 9492 - 10455 Aug-13
Kasarwadi 4848 - 5452 Aug-13
Kataraj 3528 - 4350 Aug-13
Khadki Bazaar 3378 - 3378  Aug-13
Khed Shivapur 2450 - 2450 Aug-13
Kondhwa 4271 - 5061  Aug-13
Koregaon Park 7385 - 11000  Aug-13
Kothrud 6657 - 8889  Aug-13
Kotrud 38 6750 - 7955  Aug-13
Law college road 12281 - 15000  Aug-13
Lohegaon 3788 - 3800  Aug-13
Loni road 2735 - 2735  Aug-13
Lulla Nagar 7233 - 7866  Aug-13
Magarpatta 5965 - 7097  Aug-13
Mahalunge 3600 - 3800  Aug-13
Manchar 2058 - 2284  Aug-13
Mangaldas road 9796 - 10058  Aug-13
Mahatre Bridge 9434 - 9434  Aug-13
Model colony 10965 - 14568  Aug-13
Mohemedwadi 4074 - 4815  Aug-13
Morewadi 4566 - 4566  Aug-13
Moshi 3873 - 5039  Aug-13
Mundhwa 4200 - 5770  Aug-13
Munjaba Basti 5000 - 5000  Aug-13
Munwa 7692 - 7692  Aug-13
Nagar Road 4102 - 5406  Aug-13
Nana peth 5455 - 5455 Aug-13
Narayan Peth 8720 - 9157 Aug-13
Narhe 3894 - 4507  Aug-13
Navsaiyadari 16667 - 16667  Aug-13
NIBM road 3584 - 5270  Aug-13
Nigdi 4457 - 5643  Aug-13
Panchavati 5886 - 6326  Aug-13
Panchagani 9615 - 9615  Aug-13
Panmala 7541 - 7541  Aug-13
Pashan 5516 - 6250  Aug-13
Paud road 6885 - 8778  Aug-13
PC Pimpri 3174 - 4186  Aug-13
Phursungi 3654 - 3800  Aug-13
Pimple Gurav 4490 - 5232  Aug-13
Pimple Gurav 4652 - 5608  Aug-13
Pimple saudagar 5097 - 5790  Aug-13
Pimpri Chinchwad general 4296 - 5338  Aug-13
Pirangut 3100 - 3333  Aug-13
Pisoli 4137 - 4137  Aug-13
Prabhat road 12965 - 15387  Aug-13
Pune Airport 4179 - 5728  Aug-13
Pune camp area 3607 - 6667  Aug-13
Pune sholapur road 1918 - 3382  Aug-13
Pune station 4398 - 6323  Aug-13
Pune University 5357 - 10262  Aug-13
Rahatani 4153 - 4937  Aug-13
Ranjangaon 1944 - 1944  Aug-13
Rasta peth 7438 - 8545  Aug-13
Ravet 4333 - 7159  Aug-13
Sadhashiv Peth 6975 - 9098  Aug-13
Sadhu vashwani chowk 14607 - 14607  Aug-13
Sahakar Nagar 1 5436 - 9275  Aug-13
Sahakar Nagar 2 9854 - 11379  Aug-13
Salisbury Park 11211 - 11211  Aug-13
Salunke Vihar 4643 - 5670  Aug-13
Sanaswadi 2407 - 2407  Aug-13
Sanghvi 4378 - 4927  Aug-13
Sasane Nagar 3158 - 4085  Aug-13
Saswad road 3172 - 3231  Aug-13
satara road 5556 - 5556  Aug-13
Senapati Bapat road 7205 - 10870  Aug-13
Shankar Seth road 8545 - 8545  Aug-13
Shivane 3305 - 3881  Aug-13
Sholapur 4095 - 4095  Aug-13
Sinhagad road 3923 - 6150  Aug-13
Somatane 3100 - 3101  Aug-13
sopan baug 7527 - 9976  Aug-13
Sopanbaugh 7117 - 7117 Aug-13
Sukh Sagar Nagar 4158 - 4597  Aug-13
Sus road 5756 - 6228 Aug-13
Tadiwala road 4301 - 7000  Aug-13
Talawade 3622 - 4292  Aug-13
Talegaon 2892 - 3558  Aug-13
Tingre Nagar 4392 - 5287  Aug-13
Udai baug 6193 - 6729  Aug-13
Undri 3943 - 4762  Aug-13
Urli Kanchan 2576 - 3128  Aug-13
Vadgaon BK 3818 - 4667  Aug-13
Viman Nagar 5934 - 7000  Aug-13
VL Vishrantivadi 4587 - 5496  Aug-13
Wadgaon BK 4697 - 5491  Aug-13
Wadgaon sheri 4772 - 6049  Aug-13
Wagholi 3400 - 4091  Aug-13
Wanawadi 5163 - 6623  Aug-13
Wanowrie 4737 - 6923  Aug-13
Waraje 5000 - 5867  Aug-13
Yerwada 4485 - 6500  Aug-13


Rates by Sulekha Property

Thursday, 22 August 2013

ICICI Bank hikes base rate by 25 bps to 10%

Today ICICI Bank, the country's largest private sector lender, has increased its base rate or minimum lending rate by 25 basis points to 10%. The rate hike is effective from August 23, 2013.

The rate revision will make all loans and advances offered by the bank on floating interest rate from July, 2010 expensive. The bank had decided to determine the interest rates on new loans and advances, including consumer loans, with reference to its base rate with effect from July 1, 2010.

"ICICI Bank has also announced an increase of 0.25% in its benchmark prime lending rate and in its floating reference rate for consumer loans (including home loans) with effect from August 23, 2013. The above benchmark rates are used for determining interest rates on loans and advances sanctioned up to June 30, 2010," the bank said in a statement today.
The bank's fixed rate customers will not be impacted by the revision in lending rates and their contracted rates will remain unchanged.
ICICI Bank India

In the last few weeks, several private sector banks have raised lending rates as their cost of funds turned expensive. HDFC Bank increased its base rate by 20 basis points to 9.8%, Axis Bank by 25 basis points to 10.25%, and YES Bank by 25 basis points to 10.75%.

The private lenders had also raised their deposit rates before lending rate hikes. ICICI Bank had increased its deposit rates by 50-75 basis points, while HDFC Bank had revised it upwards by 100 basis points. Axis Bank and YES Bank had hiked deposit rates by 25-225 basis points.

So far, most government owned banks, including the country's largest lender State Bank of India (SBI), have not revised their lending rates.

While RBI had kept the policy rate unchanged in its first quarter monetary policy review, its liquidity tightening measures in the past few weeks have impacted short-term rates. On July 15, 2013 the central bank capped banks' borrowings under the liquidity adjustment facility (LAF) and increased the marginal standing facility (MSF) rate by 200 basis points to 10.25%.
The measures led to tightness in liquidity. Bankers had predicted if the steps were not rolled back soon short-term deposit rates would rise followed by increase in lending rates.

About ICICI Bank Ltd.
ICICI Bank is India's second-largest bank with total assets of Rs. 4736.47 billion at March 31,2012 and profit after tax Rs. 64.65 billion for the year ended March 31,2012. The Bank has a network of 3121 branches and 10486 ATMs in India,and has a presence in 19 countries, including India. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries in the areas of investment banking,life and non-life insurance,venture capital and asset management. 


DLF sales bookings jumps to Rs 2,430 crore in April-June

Realty major DLF's sales by way of bookings in the housing segment almost doubled to Rs 2,430 crore in the April-June period from the previous quarter on strong response for its Gurgaon projects.

DLF sold 1.81 million square feet of space for Rs 2,430 crore in the first quarter of this fiscal against 2 million square feet sold for Rs 1,240 crore in the January-March period, DLF said in an analyst presentation.

The company achieved gross sales bookings of Rs 2,430 crore during Q1 against Rs 3,800 crore for FY13, it added. Of the total bookings in April-June, Gurgaon phase 5 contributed the maximum at Rs 1,990 crore.

The company launched "The Crest," a luxury home project, in Gurgaon phase 5 to an extremely strong response and the test marketing of "The Camellias" met with an encouraging response, according to the presentation.

It sold more than 60 percent of the stock in the "MyPad" project at Lucknow at launch.

In the rental business, DLF leased 0.39 million square feet of commercial space in Q1 compared with 0.18 million square feet in the previous quarter. Rental income was Rs 435 crore out of Rs 480 crore of annuity income, it said.

DLF said gross annuity income would grow to Rs 2,000 crore by the end of FY14 from about Rs 1,850 crore in the previous financial year.

The Mall of India project in Noida with 1.8 million square feet of leasable area is in the final stage of completion and is expected to open by the end of FY14, the company said.

DLF said it continues to maintain a comfortable liquidity position with Rs 3,175 crore of cash on its books.

"With the uptick in sales bookings, which was very evident from the Q1 sales, the cash position is likely to improve substantially," the company said.

DLF has a land bank of 320 million square feet. It had 52 million square feet of projects under construction at the end of the June quarter.

HDIL Q1 net profit down by 85% to Rs 16.25 crore

Realty firm Housing Development and Infrastructure Ltd (HDIL) on  reported 85 per cent fall in consolidated net profit at Rs 16.25 crore for the quarter ended June 30 on lower sales and higher finance cost.

Profit stood at Rs 105.38 crore in the year-ago period.

Total revenue fell by 25 per cent to Rs 150.66 crore in the first quarter of this fiscal from Rs 201.16 crore in the corresponding period of last fiscal, Mumbai-based HDIL said in a filing to the BSE.

The finance cost has increased to Rs 169.34 crore from Rs 154.08 crore during the period under review.

HDIL said the company had issued 25,675 non-convertible debentures of Rs 10 lakh each aggregating to Rs 2567.70 crore, of which non-convertible debentures aggregating to Rs 1311.22 crore has been redeemed.

The board has accepted resignation of RC Kapoor as a Director of the company with immediate effect. Kapoor has resigned due to personal reasons, the filing said.

Shares of HDIL were at Rs 33.20 apiece on BSE in late afternoon trade, up 1.68 per cent from yesterday closing.

Farallon Capital exits from Indiabulls realty JVs for Rs1172 crore

Gurgaon based real estate company Indiabulls Real Estate said it has bought back 49 percent stake each held by US-based private equity firm Farallon Capital Management in its seven realty projects for Rs 1,172 crore.

Farallon had invested Rs 847.48 crore in seven projects of Indiabulls during 2006-08 and has exited at 38 percent higher price.

In a filing to the BSE, Mumbai-based Indiabulls Real Estate said "the company has purchased the entire stake of FIM Ltd and its affiliates in its seven project subsidiaries for a total consideration of Rs. 1172.16 crore".

FIM Ltd, which is managed by Farallon Capital Management LLC, held 49 percent equity stake in these JVs and had invested Rs 847.48 crore in 2006 to 2008.

With the purchase of FIM's entire stake, Indiabulls said these project subsidiaries will now be 100 percent owned by the company.

Of the seven projects, five are in Gurgaon and one each at Chennai and Sonepat.

Indiabulls Real Estate shares were trading at Rs 58.40 a piece on BSE, up by 2.37 percent in afternoon trade.

Wednesday, 21 August 2013

Pune's first international residential project in Kalyani Nagar.


Pune’s  real  estate market will get an international touch from Trump Organization tying up with developer Panchshil  for their first project in India.

Trump’s entry into the Indian market was announced by Trump, chairman and president of Trump Organization on his micro-blogging site Twitter that said, “Trump Organization’s first project in India, Trump towers Pune, will epitomize inspired living and timeless elegance.”

Trump is keen to launch a project in India and was looking for a right partner. We finalized on building a project in India,Trump Towers Pune, will epitomize inspired living and timeless elegance.”

The project is in Kalyaninagar will be launched for the buyers nearby October 2013.

Trump-branded residences, he says, are famous for their opulence and luxury and have dominated skylines across the world and with Trump Tower Pune launching in the city, the legacy is now incorporating itself into the fabric of urban India.

Chordia said the Trump Towers Pune will be a blend of modern architecture, cultural richness and an elite comfort,23 storeys each with 46 luxurious and meticulously planned 6100 sqft approximately.
The interiors of the project will be designed by the well known interior designer Matteo Nunziati .

Monday, 19 August 2013

Real Estate Bill Impact on property rates in India.


Will this bill change the Real Estate industry in India ? or there will be any impact on property buyers ?
Overall ,what is in store for stakeholders once the Bill takes effect ?
Indian government should ensure that the sprit of Bill is maintained and the regulator should think about the benefits of the property buyers and it does not become another department giving space for increased corruptions.
In some cities of India it is found that some developers launched projects with out all the necessary approvals.  Even some of the small developers launch their projects they collect the money from the property buyers and then they buy the land. 
I met to some property buyers they told me that at the time of booking developers shows rosy pictures in advertisement but when the project get completed the actual picture is something else. It will increase the transparency and also confidence of the buyers.
In India We have regulating body for banks, insurance, telecom, equity market but for real estate there is no regulation for real estate. Soon our parliament going to pass the Real Estate (Regulation and Development) Bill 2013.
Will this bill change the Real Estate industry in India ? or there will be any impact on property buyers ?
Overall ,what is in store for stakeholders once the Bill takes effect ?
Buyers have many reasons to cheer the real estate regulatory Bill as it includes many key provisions that are beneficial to them.The time frame for implementation of the Bill is envisaged beyond 2013 and impact of the Bill will be seen  later 2013.
After this Bill the cost for developers will increase. so can we say that that it will make any impact on property rates.
After this Bill takes place we may see a slowdown in launches of new projects, because the getting all the permissions in place is a long process. Listed real estate developers may face some concerns after the Bill is enforced.There can be also an upward pressure on prices as the builders has to wait to launch their projects with all the due approvals. However over the medium to long term, builders may see improvement in funding.
As the real estate sector is viewed as less risky, they may be able to access lower cost funding for their cash flow needs, boosting profitability. Over the next two to three decades, a cleaner and transparent real estate market, akin to the stock market, could be expected, Pointing to the complaints addressing mechanism, he was optimistic that similar to companies stating the number of pending shareholder issues, project brochures of property developers in the future may need to list outstanding complaints.
There is concern among small developers that the increased disclosure requirements may add to their costs.This Bill does not address concerns faced by property developers in obtaining permits and approvals.
. “The Government needs to ensure that the spirit of the Bill is maintained and the regulator does not become just another department giving room for increased corruption and delays,” Pai added.
Small and medium developers may face higher costs due to the vastly increased disclosures mandated by the Bill. This could also help bring in more credibility, and help attract investments from domestic and international funds.
PE investments in real estate have been decreasing in number and value this year, that offers PE funds in real estate, said this regulation would weed out short-term focused developers who entered the market for quick profit.
“The Bill may increase cost for developers but will mitigate a lot of risk in investment as there is higher transparency with the developer taking up ownership for disclosures. The uniformity of regulation and specifications across the country are positives for PE investors” said Mahipal Deora managing director BlueGate Properties.
There are, however, some concerns about property prices increasing as a result of the provisions.
Developers indicated that if the Bill increases the costs for them, it will likely be passed on to the buyer, but the timely delivery of projects may offset this cost increase.
The Bill imposes strict guidelines on advertisement and prospectus from builders and also has provisions for claiming compensation for loss caused by misleading statements.
This, along with selling based on carpet area, should deter misleading advertising and lofty promises. Buyers have had limited bargaining power and no easy recourse when the builder reneges on promises.
The provision in the Bill to set up an appellate panel to take up disputes between buyers and builders will help in the speedy resolution of issues such as delays, change in specifications, and so on that are typically faced by buyers.

Luxury destination in Pune


Earlier It was assumed Pune’s biggest advantage was the climate,culture  and connectivity from Mumbai city. Now a days pune is changing its identity It has become a destination of investment  in real estate. Pune is growing from all the corner. Now this city has become an education and information technology hub. Presence of the all top notch IT companies in pune  makes it a hot property investment destination.
The concept of luxurious flat is mushrooming across the pune city.

 Koregaon park is the place which firstly built by british. Now it has become with one of the happing area. This place is very close to boat club and race course. It also enjoys connectivity to other major area of city like Dhole Patil Road,Swargate,Camp,M.G. Road, Deccan etc. Railway station and airport are also close to Koregaon park.At Koregaon Park we find finest of cuisine restaurants,pubs,shops,fashion, brand wear etc.

Near by areas like Kalyani Nagar has become one of the most preferred location  for living. This area is very well connected from Viman Nagar, Shastri Nagar, Koregaon park, boat club road, bund garden etc. Kalyani Nagar is well equipped with all the basic amenities. All kind of fast food like McDonald’s, D-mart shopping mall, KFC etc. Some of the prominent schools like Bishop’s school, Nagarwala High School are already there.


Other side of NIBM,  Undri is developing from a small villege to developing residential hub with all kind of world class infrastructure amenities. This area also enjoys good connectivity from the place like NIBM,Wanowarie. There are many premium housing projects  which provide luxury amenities. Infrastructure is being developed . PMC is putting focus on the growing areas in Pune. Undri is also close to Magarpatta and Hadapsar which are emerging IT hub. Also the connectivity is better.



Viman Nagar is also a popular destination in Pune. In Viman Nagar also you will find IT Parks, big hotels, educational institute. This place enjoys the connectivity from Airport and other important area of Pune like Kalyani Nagar, Koregaon Park. Viman Nagar is an idyllic place for residential projects. This area is a mix of residential and commercial place.


Baner is the place which enjoys connectivity from Pune city ,Mumbai Pune High way and also Hinjewadi IT Park. Infrastructure is good, roads are wider, Hotels, restaurant,  IT companies food bazaar,de-mart  etc. attract to peole to invest in real estate in these area. Working people in Hinjewadi  IT Park finds this place suitable for stay because of the connectivity from Pune city and Hinjewadi IT park. Because of the connectivity from Mumbai Pune highway Baner also attracts Mumbai’s real estate investor's

Many factor play role in developing a luxury destination. Pune is a hub of IT techies and they are paid hefty by the IT giants. So ultimately money is coming in the pocket of the people and they need some place to invest or spend. From since last decade real estate is giving better return to investors compare to any other assets.

Sunday, 4 August 2013

Difference between Resale Property and new developers projects.


It is not all about that buyers go for resale property because the buyer wants a ready possession property. There are many reasons  the buyer prefer to buy a resale property. When any buyer is going to buy an under construction property he buy that property just upon the keeping a picture in mind which a developers shows.


In Wakad (Pune) or nearby area you will find many brand new property  available for sale.But here I would like to clear one thing that a buyer get the same thing in resale property which he gets  from the builder. Still there is a huge difference in buying a property from builder and resale property.

 In resale property or ready possession property you get the flat as it is as it is visible or you can have a fair idea about flat,direction, ventilation, leakage in flat,sunlight, exact view  moreover when I can get the possession of the flat. There are many example where builder shows  the rosy picture and they provide something else. It happens with even reputed developers.

The biggest difference while purchasing a new property and resale is, in resale you have to pay all the amount in single shot so you have to be ready with the bucks before going for a deal. Some might avail the loaning facility provided by banks but for that also there is some criteria for eligibility for availing the benefits. Those who are salaried person can get it without much hurdle but those who did not have a regular income have left only option that is book the house from builder. In resale you might get property at cheaper rate but also you might miss the feeling of being first owner / occupants or fragrance of being the first opener.


Price Advantage.

 In a resale deal a buyer have an opportunity that he or she can get a property at better price compare to market price. Generally a buyer can expect  5% to 18% lesser price to developer’s price.
“Now a days buyers purchase the ready possession flat or resale flat just because they want ready to move flat but also investors are preferring to invest in resale property.Generally investor sale their property when they feel that property prices already picked or almost on saturation.For booking the profit from  the property investment they sale it lesser price compare to market price” said Mahipal Deora Managing Director Bluegate property management Pune.



Average Property Rates
City
Resale
New
Mumbai
12320
12410
Pune
6428
6495
Delhi
5995
6087
Banglore
5455
5528
Kolkata
5107
5191
source online property search portal


Transfer Fee

While purchasing a resale flat transfer fee has to pay to the developers. It is an expenses which take place to the developers to transfer ownership, and other expenses  like administrative and other documentation work related.
Transfer fee very developer to  developer .  Transfer fee very between 100 Rs per sqft to 400 Rs per sqft.

Feel Free to ask about resale and new property and real estate market Pune

Saturday, 20 July 2013

Royal Rahadki Greens, Pimple Saudagar Project Details


Royale Rahadki Greens a 1, 1.5, 2 & 3 BHK  Homes


Situated in Rahatni just off Pimple Saudagar again making it a preferred choice by home buyers because of its proximity to Hinjewadi, the Mumbai Bangalaore bypass and a six lane road connecting to expressway.

“Royal Rahadki Greens” is located in Rahatni. It is a truly amazing project that caters to your iconic status. It offers luxurious energy-efficient homes with all the top notch amenities. The location of this project is quite close to Pimple Saudagar, Hinjewadi, Pimpri Chinchwad, Wakad  and Aundh. Every house meets all requirements of good ventilation, natural light and vastu compliant with well laid internal layouts.

Nobody is perfect so there are some negligible imperfection about the project related to outer view and locality otherwise rest is complete Home package deal for buyers due to connectivity as well as budget is concern.



Royal Rahadki Greens, Pimple Saudagar, Pune




Royal Rahadki Greens, Pimple Saudagar, Pune

 
OUTER LAYOUT OF ENTRANCE AND FEW GLIMPSES OF THE PROJECT - Possession will be in 2015


Entrance of Royal Rahadki Greens, Pimple Saudagar, Pune











Royal Rahadki Greens, Pimple Saudagar, Pune


Royal Rahadki Greens, Pimple Saudagar, Pune









Typical 1bhk specifications and internal layout –

AREA - 617SQFT  RATE – 5500 /Sqft  Basic cost  - 3393500 Infra charges – 3500000
Mainteance - 50000 ( 2 years )  MSEB charges – 85000  Apt. formation charges – 10000
Service tax 3.09% - 119846  Vat 1% - 37435  Stamp duty – 224650 Registration - 30000
Misc. exp – 7000   Total Payment – 4297431 / -            (* Rate are subject to changes)


Royal Rahadki Greens , Pimple Saudagar, Pune








 
Typical 2bhk specifications and internal layout

AREA – 852 SQFT  RATE – 5500 /Sqft  Basic cost  - 4686000 Infra charges – 3500000
Maintenance - 50000 ( 2 years )  MSEB charges – 85000  Apt. formation charges – 10000
Service tax 3.09% - 159784  Vat 1% - 50360  Stamp duty – 302200 Registration - 30000
Misc. exp – 7000   Total Payment – 5720344 / -            (* Rate are subject to changes)


Royal Rahadki Greens, Pmple Saudagar, Pune



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Read more about  -  Kolte Patil 24 K Glitterati 2 Pimple Nilakh


                               Krystal City Rama group project Chikhali


                              Why Sample Flat Looks Always Attractive?



*Feel free to ask to know more about the project and real estate market of Pune

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