Chennai Real Estate Market Shows Upswing

The realtors of Chennai couldn't have asked for more. Despite the concerns about rising input costs, delayed approval process and high-interest rates, the residential segment of Chennai didn't witness much boom in 2013. Be it premium apartments, budget homes, luxury villas, super-luxury houses or gated communities, this year the consumers got a lot of options to explore

though the real estate scene across the nation was cold, Chennai Real Estate market kept its momentum driven by end-users and a great approach by investors.“

 

2013 was a fantastic year for TN developers, “said T.Chhity Babu,national secretary of the confederation of Real Estate Association of india (credit). “the job opportunities which is created by the state,through many government initiatives,there was a chance of outsiders to settle here,creating the need for residential spaces,”he added

For last three years, more than 1 lakh jobs has been established by Tamil Nadu. Interestingly, this was not only limited to IT sector. “ IT jobs are only thirty to forty percent; it was other sectors such as ancillaries, auto, textile,telecom,etc.,that kept up the flow, ”says Babu

Redrawing city corporation's limit to include more suburbs to the extent of better Chennai proved boon for the developers promoting projects along the peripheral areas.

Revision in guideline values and stamp duty registration charges during the year may have swelled the government's kitty but have eroded profits, complain developers. “Though scheme launches kept happening throughout the year, such price hikes had an impact on the number of actual registrations," said Mu.K. Selvaraj, secretary of Builder's Association of India, Chennai.

Despite all odds, with Chennai being perceived as a safer place to live, a steady demand for residential spaces kept the market momentum, said Babu.

Prestige Song of South - A Contemporary Real Estate Instigation in Begur Road of Bangalore

The graph of the investment market, which is also known as SENSEX has been brought up to 27000 points in the past few several weeks. The spurted rate of the market is transforming the economy and its value with excessive growth. The builders in India are getting more efficient after the proclamation of the price range in the span of 2014-15.

Real estate industry is integrated of numerous planners, which are creating plans in almost all areas like- East, West, North and South. Prestige group is going to start a residential project Begur Road of Bangalore. The venture is presented as Prestige Song of South. This housing plan is subsumed of unique options of flats and some other appropriate attributes like amenities etc. This project is more beneficial for the buyers like IT professionals because it is located nearby the core IT suburb of Bangalore.

Size, Segments and Valuation of Apartments:

Prestige Group has planned to develop a residential concept in the IT Hub of India with the various set of variants such as- 2, 3 and 4BHK segments of apartment. This project is spread over 40acres of land area. Size of all the versions of apartments have not been updated yet. All details concerning area will be updated very soon. Valuation of the different segments of apartments is still under process and will be getting live very soon.

Additional Attributes:

Amenities at Prestige Song of The South Bangalore will facilitate the life of willing buyers. All amenities are expected to concrete soon in the coming time. All necessary attributes are expected to be launched in this residential concept very soon.

Positioning of Project, Connectivity and Neighborhoods:

The residential community is getting developed in Begur of Bangalore nearby Electronic City. The housing plan is surrounded of some reputed schools and colleges, hospitals and banks etc which are as follows: Indian Institute of Management, PESIT Engineering College and some other educational institutions.

It is located next to the nearest metro station. Some nearby reachable hospitals to this residential plan are Apollo, Fortis and Narayana Hrudayalya. There is propinquity to number of linked passages. Distance of Railway station is 20kms from this project and 48kms for international air port. It is linked to the Nice Ring road and Hosur road. In this region of the city infrastructural and real estate development has grown rapidly which results in the involvement of maximum number of buyers and investors for the real estate projects.

Delhi Metro's Influence on Real Estate Prices

To reduce the heavy Delhi traffic.Metro was launched in the year 2002. However, being analyzed as a social benefit compared to be an economic one, has turned out to be highly responsible for the economic growth of the region and the capital. Over the last decade, the prices of the land nearby the Metro areas have expanded as developers flocked in to invest in these areas, and buyers find it a superb option owing an easy development accessibility and in those areas.

Metro has directly influenced the Real Estate Business in Delhi. In a time of real estate boom, localities where metro is operational, tend to acknowledge more than other localities. During slowdown period, these localities also experience a lower price correction. Big infrastructure projects have been launched keeping contiguity to metro as the sole determining factor. The “Metro mall” near Rithala station and “Delhi Hatt” near Kohat Enclave are the ones in point. Retail shopping spaces have also been seen at Netaji Subhash Place station. This is just the beginning, and we would see it become the focal point for major infrastructure projects in the Delhi.

Ever expansion of metro for NCR has been announced, people who were earlier not willing to move out of the city have started looking at NCR as an option.

Today, contiguity to metro has to be one of the most important determining reasons for a property seeker. you can see this effect in the realty prices, for example localities like Dilshad Garden , Mansarover, , Indralok, Pitam Pura, Rohini & Rithala where the metro has been functional, saw an appreciation of 18% – 40% p.a. in the city values from 2005 to mid 2008. These are the areas which were also unaffected during the slowdown from August 2008 onwards. one can see the same trend in Uttam Nagar, Dwarka, Janakpuri, Vikaspuri, Tilak Nagar, Subhash Nagar, Karol Bagh and Patel Nagar.

Gurgaon on the Zenith of Demand Charts in Real Estate

NCR will have a total demand of nearly 10.2 lakh residential units, 249 lakh sq ft of office space and 66.6 lakh sq ft of retail spaces by 2013.With rising demand in residential, office, retail, and hospitalitysectorss, Gurgaon tops the demand charts. Forthcoming world-class projects, proximity and good connectivity to Delhi are a few factors driving these figures.
The city is registering the fastest growth in the real estate sector in the country. Developers are flocking to the region to launch new Projects in Gurgaon after prices here shot up by as much as 25% in the last one year.
Recently, well-established realty players like Godrej Developer, Tata Realty from Mumbai and Sobha Developers from Bangalore launched their projects in Gurgaon. This has further infused the competition in the sector in the region. A large number of white-collar jobs have been created in Gurgaon after it emerged as a hub for IT and IT-enabled services in northern India. Also, owing to its proximity to the national capital Delhi, several Fortune 500 firms opened their offices here, employing hundreds of high-income professionals.

Records show that 35% of the proposed residential land is under the process of licensing. The major growth corridors in Gurgaon include extended Golf Course Road, Sohna Road, Pataudi Road, Manesar, Jaipur Highway and a concentrated growth in Bhiwadi and Dharuhera. Around the NH-8, the sectors of New Gurgaon like 37, 37D, 80, 81, 82, 85, 86, 90, 92, 93, 95, and 99 are registering a tremendous response.

Coimbatore Real Estate - Raising the Bar

Located near Chennai, Coimbatore is one of the most preferred tourist destinations, it has emerged as Tamil Nadu's new real estate hub. The 13th largest urban mass in the country, after Chennai, Coimbatore is the second largest city in Tamil Nadu. It is a rapidly growing tier 2 cities of India. Education, urbanization,commerce,economy,industries and others are what is making it an inevitable town of significance. City is also known for its legacy clubbed with industries like engineering and textile, it has seen humongous economic growth in the past 15 years and made an enormous impact on city’s real estate.

The city is often referred as the Manchester of south India because of its flourishing textile industry. Apart from these, there are few other industries that the city boasts of are automobile manufacturing and engineering firms. The fulfilment of two third of India's electrics motors requirements yields from the Coimbatore-Tiruppur-Erode, the industrial corridor of the state. Erode, the textile nucleus, accounts for around 75% of the textile exports of the country

During the late nineteenth century, the British exploited the potentials of the black cotton soil of the area that gradually led to the founding of the textile industry. Slowly, the city recorded an increase in the high number of migrant workers. The slowly flourishing textile industry resulted in the demand in engineering expertise that was eventually followed by a paradigm shift towards a metropolitan culture. This shift was responsible for the increased demand in the real estate souk of the Manchester of South India. Currently, Coimbatore Real Estate is at its zenith and enjoying the position. According to statistical reports, the market is here to stay like that for some time now.

Real Estate will Continue to Flourish in Bangalore

Known as one of the hottest cities in the country, Bangalore is growing with unexpectedly rapid progress in every aspect. Bangalore fondly called silicon valley, is now a significant IT hub and a real estate monster. With the growth of settlements in the city, both residential and commercial sectors are on high. Villa, flats, Bungalows, penthouses are sought after in big numbers as a better investment option.

There is a good reason Bangalore Real Estate seems to be a significant success. State of the art infrastructure, all amenities in a close call, projects in major areas has all added up to the value of proportion in the city. To name a few of them in Bangalore: Koramangala, Whitefield, HSR Layout, BTM layout, M.G Road, Indira nagar, etc, are the locations in demand by Bangalore property investors and developers.

Umpteen new projects, have come up in Bangalore. The real estate success here is a symbol of the investor satisfaction. Keeping the needs and demands of the buyer's builders have delivered the projects. Nowadays, owning a property in Bangalore means a good return in the future. The fact to appreciate is that even the outskirts of Bangalore is developing very fastly, making the project a superb buy throughout Bangalore.

Hyderabad Exploring in Real Estate

Hyderabad property market keenly waiting by the end of the year might have to wait a bit more. In year 2008-2010, the city witnessed a remarkable growth in terms of in construction in and around the city. . After the formation of Telangana in June 2014, many builders expected huge investment returns and were almost consistent in allowing a period of six months for the sector to register its recovery. . P.Dasharath, president of Telangana Real Estate Developer’s Association (TREDA) said that the there has been a jump in the number of enquiries for the projects. However, it is still to be seen that to what extent they get converted into sales.

 At the moment, the people seeking property are continuing with the wait-and-watch policy, he added. A period of another six months or perhaps a year is required for the activities in real estate to pick up the property rates positively. Besides, the fact of the matter is that the builders have sought for only a few regarding the new projects. Some manufacturers give a reason for a break in the purchase of properties. They say that the passing phase had got extended. Experts in Hyderabad Property said that a big market of small flats resides in the city that is in demand of buyers. These sections have to come out of the wait-and-watch shell". Besides the response from the consumers has already started the scenario should not be benchmarked as similar to 2008-2010. When compared to more modern times, there has been a sharp increase to acquire spaces for trading. It is because there is no available for commercial space in the Banjara Hills, and only a few part of the land is left in Madhapur.

Though there are some downfall factors but as Hyderabad is scaling up from a regional player to a national level, the Hyderabad real estate here becomes cost-effective.In the previous years, the actual market existed between Miyapur and Shamshabad, but now the focus has shifted to areas like Adibhatla, Manchal among others. Hyderabad property has shown a negligible improvement in the last few months, but it will take some more time to get its strong foothold in the realty market.