Hyderabad Real Estate is no Longer Down in Dumps

This is what view MD-Hyderabad, Jones Lang LaSalle, Sandeep Patnaik had about Hyderabad real estate: the property market in the city shall come out of the slump and start scaling new heights, after 6 months from now. Though there were many who refuted his claims of 15-20% growth in the coming months, the expectations for price appreciation have started ringing in the property market.

Hyderabad, recently, got out off from the political tension created over the formation of Telangana issue. As against the speculations, the property for sale in Hyderabad did not fall too low in terms of prices. On the contrary, the property market continued on its original track. The prices started escalating, no matter how little or slower. As per the current situation, a buy can make hay while the sun is shining high. As long the rates do not increase too much, buyers can continue putting their money into the real estate. For investors, areas like Gachibowli and Hi-Tech City appear to be the strong contenders, as prices are expected to increase more in these localities.

Let’s see the current rates for a 2 BHK flat in terms of its price, in the current month. Localities like Miyapur, Chanda Nagar, Uppal Mandal, Nizampet, Jubilee Hills, Mehdipatnam, SR Nagar, Bachupally, and LB Nagar are like haven for the buyers of Hyderabad real estate. The apartments within the range 20-50 lacs are easily available in these areas. The pricey options are Kukatpaly, Manikonda, Hi-Tech City, Gachibowli, KPHB, Srinagar Coloney, Banjara Hills, RK Puram, though several budget residences are also present in these localities.

Real Estate Trends in Central and North Chennai

If you are looking for plush houses in Chennai, the apartments and villas in North and Central offer best, both in terms of luxury and comfort. Seeing the demand for the same, some top-notch developers have floated top-class projects here. In fact, Chennai real estate, which is the main contributor to the GDP of the city, gets its main push from this pricey sebment. The demand is mainly from the very affluent families who prefer living in homes laced with all the mod cons.

The buyers eying on properties in Chennai lying within the price bracket of 40-50 lacs (for a 2 BHK) can look in localities like Poonamale Highway, Madipakkam, Manapakkam, Satho Sapuram, Ambattur, and Avadi. At Madipakkam, the average per square feet rate is around Rs. 6000/- At Manapakkam and Satho Sapuram, it is somewhere near Rs. 4500/ sq. ft. At Poonamale, the rate is further lower: Rs. 3800/ sq.ft.

Now we talk of much higher price segments. The real estate Chennai in localities like Choolaimedu, Mehta Nagar, Arumbakkam, Nungambakkam, Kilpauk, Aminjikarai, Roya Pettah, and Koyembedu have property prices as high as 1-2 crores, for a 2 BHK apartment. The rates are particularly high in Arumbaakm, Kilpauk, Roya Pettah, and Mehta Nagar. The per square feet value in these localities is more than Rs. 11000/-. Same is the story for apartments in Chennai in plush colonies including Boat Club, R A Puram, Poes Garden, Adyar, Alwarpet, Anna Nagar, and Velachery. Here, demand for residential properties has witnessed an appreciable growth in the first quarter of 2013.

Currently, Indian economy is dealing with high inflationary rates and depreciating value of rupee. When the economy comes out of the crisis, the prices shall escalate further. So, if an end user wants to make a buy, the time is just right for him.

House for Rent Backed by Infrastructural Developments in Bangalore Real Estate

The rental properties in Bangalore have got an excellent push by the major infrastructural developments in the city. The tremendous progress made by the city’s framework has affected the demand for a house for rent in Bangalore. This demand is expected to rise further, as and when these prestigious projects see the light of the day. With the burgeoning demand, the rates for rental too are expected to see an accretion. The city sees an exodus of population from the cities like Delhi and Mumbai. To cater to their accommodation needs and the growing preference of people to live in rental houses, the city is undergoing metamorphosis in terms of expressways, roads, international centers, and metros.

 

The development of integrated projects and the floating of high-end projects by major developers are the other factors that are going to change the shape of real estate in the city. The commercial developments like Bangalore International Center and Bridge Gateway Project shall herald a new era in the field of residential market. Along the areas covered by them, a huge growth of real estate in Bangalore is expected, which, in turn, shall help the furtherance of the rental market. The phase 1 and 2 of the upcoming Metro Rail comprises of East-West and North-South Corridors. The plush localities like Whitefield, Bannerghatta, and Tumkur Road shall flourish in terms of both residential as well as commercial markets in the city.

 

As far the rental rates in 2013 are concerned, many localities have seen a rise. Areas like M G Road, Koramangla, Old Airport Road, Thanisandra, Kundalahalli, HSR Layout, Hoodi, and Infantry Road have seen an appreciation in the rental rates, in the first quarter of the year. So, a house for rent in Bangalore in these localities shall now come at higher rates. On the other hand, in C V Nagar, Cunningham Road, Electronic City, Indira Nagar, and K R Puram, the rates have come down.

 

One of the infrastructural projects that shall have far-reaching consequences, and positive, for that matter, is Mumbai Bangalore Industrial Corridor. Built along Tumkur Road, the project has expectations to garner high demand for Bangalore real estate. With this, the rental spaces shall too proliferate in the area. Then there is Bangalore Mysore International Center (BMIC), which is intended to connect two cities, and cover several important cities along the way, including Kengeri, Ram Nagar, Mandya, and Maddur. With this too, the call for rented apartments in Bangalore shall find a big boost.

In Hyderabad, Apartments for Sale Coming out of their Stagnation Phase

The division of Hyderabad and creation of Telangana brought fears in many minds. Some speculated that the price rates would further slump down the price rates of properties, while others were contemplating some positive results. Just after the division, National Housing Bank predicted that the prices would slide down further by 5-7% in the coming months. Later, Credai refuted that the cut-rate figures are accurate. According to it, the rates have remained almost stable through our the Apr-Jun quarter of 2013. The real estate Hyderabad is faring poorly in terms of sale of residential and commercial properties.

 

The prices in the city had been almost stagnant since last 4-5 years. It is after the creation of Telangana that the rates have started appreciating in several localities. If the trend continues in the coming months too, the property in Hyderabad shall come out of its shell: the value of properties has been below the average mark; with the escalation, the undervalued properties shall see the much-needed ‘whiff of fresh air’. If the analytical data are to be trusted, the apartments for sale in Hyderabad shall see an accretion of up to 15% in next half of 2013.

Let’s see how different localities are sharing in terms of price rates, in the Apr-Jun quarter. The areas like A.S.Rao Nagar, Bachupalli, Attapur, Bowenpally, Gachibowli, Hi-Tech City, Kukatpally, and KPHB have seen a good escalation in rates of residential properties. Bachupalli saw the maximum rise of 15%, followed by Gachibowli (10%), and Attapur (9%). The localities where the appreciation was recorded between 5-7% include Nizampet, Miyapur, Manikonda, and KPHB. L B Nagar and Sant Nagar witnessed a growth rate of 2%.The areas like Ameerpet, Banjara Hills, Kompally, Kondapur, and Padam Rao Nagar are the regions where flats for sale in Hyderabad saw a slump. The maximum depreciation of rates were noticed in Padam Rao Nagar: a 17% plummeting of prices.

What to include in a Lease Agreement before Renting out a Property in Chennai?

A license agreement is quintessential document in case you are going to let-out a property. There are some important clauses that need to be a part of this agreement; these terms and conditions need to be signed by both the owner and the tenant. In case of any dispute between the two parties, it is the rent agreement that proves handy. If you are an owner and intend to grant your property on lease, you must be aware of all the clauses that are to be included in the agreement. Chennai, famous for the large influx of population, sees a large number of tenants seeking a real estate in Chennai. For the convenience and security of both sides, the legal agreement comes as something that is dependbale and has a legal value.

Generally, the house agreement refers the owner as Lessor and the tenant as Lessee The document mentions who’s who explicitly. The main clauses that need to be included in it are:

1. Agreement clause that Lessee shall pay a fixed monthly rental to the Lessor, on a specified date. The amount of deposit should also be clearly mentioned.

2. The term for which agreement shall hold validity.

3. The period after which deposit shall be returned back to the Lesser. For a tenant, who is looking for apartments in Chennai, keeping in knowledge of the specified term is highly recommended.

4. The lease agreement must also mention explicitly the name of the real owner of the property on rent. In case, it belongs to someone else, the name of that person should be mentioned, for the clarity of the tenants.

5. The document for rental properties in Chennai includes separate clauses for additional charges, if any. It includes maintenance charge, water & electricity bills. The charges related to security and refurbishing too should find a mention.

6. In case of non-payment by the Lessee, the agreement stands canceled. Also, a clause stating a way of quitting by the tenant, in case he wishes to leave the property. He can do so by putting a notice period of a month or two.

7. Lessee living on a house for rent in Chennai binds to keep the premises in good condition and prevent any kind of damage. In case of any damage, tenant is expected to pay for it. Such a condition in the agreement is in favor of Lessor.

8. A list of inventories provided to the tenant at the time he occupies the flat, helps in keeping track of the things.

9. Lessor can inspect the premises put out on rent and the tenant should not object to that.

10. The agreement must be signed by both the parties and a copy of it should be given to the tenant.

Buy, sell or rent properties over the leading real estate portal, Makaan.com. Search for single rooms, individual houses, independent floors, studio apartments, villas, condos, shops and choose the one that falls within your budget.

Bangalore Real Estate sees a Dip after Revision in Guidance Values

The year 2011 saw a rise in guidance values of Bangalore properties and in order to keep them in sync with the sharply rising market values, they have again been raised this August. The values have been raised in almost all the districts of Karnataka and almost all of them have seen an appreciation of about 25%. The boom in population and large influx of people from the other states made the authorities increase the value of Bangalore real estate. In Bangalore alone, the guideline value has been increased by 40-45%.

 

It would be mandatory for an owner to state the guidance value of his property at the set value or higher than that. Those who refuse and declare the lesser value, shall be issued notice by the district registrar, who would then decide the correct value. This would bring more transparency to Bangalore real estate. As the values this year have been set more closer to market values, the revenue earned by the government in terms of stamp duty and registration fee is expected to bring more profits.

 

The change in the values is expected to garner huge revenues for the Karnataka government. A collection in crores from the registration fee and the stamp duty has already been made. In the months to come, more revenues are in the offing. The revenue has also been levied on properties like villas and apartments. The new rates came into effect on August 12 and since then the interest of buyers in apartments for sale in Bangalore has seen a dip. Such was the impact of the news that the registrations reached almost a zero level in areas like Kanakapura and Devnahalli. And just when the news of new rules was made public, a huge rush was seen for registration of properties. Before the guideline vales could come into effect, objections were requested from several sources, including the State government.

 

Makaan.com, the fastest growing property portal in India, lists residential properties in Bangalore for sell, rent and buy. The spaces like single rooms, apartments, bungalows, villas, offices, and shops are made available from eminent developers, agents, and owners. Get your properties listed, place ads for them, or specify your exact requirements. Be part of the forums and get advice on property matters. Get fine-tuned results by choosing properties based on different criteria like price, location, age and type.

Flats for Sale Showing Good Appreciation in Chennai Real Estate

Standing tall on the pedestal of IT and backed with good infrastructure, Chennai properties are faring well in market this year. The prices have got a considerable boost of about 20% over past 12 months. The scenario seems to be promising enough for the coming quarter too. One of the major factors that have contributed well to the rising demand is the development of Outer Ring Road(ORR). It is intended to connect Vandalur and Minjur and is projected to give real estate in Chennai a further step-up. Upon the completion of this 62-km long expressway, the city areas shall get interconnected to the remote villages too. Not only this, the city shall also be hooked up with other other cities like Kolkata and Bangalore.

The prices in the Chennai real estate located centrally carry a high price tag, if compared to the peripheral region. Choolaimedu, Kilpauk, Arumbakkkam, T. Nagar that form part of the Central Chennai, have 2 BHKs lying in 70 lacs-2 crore range. For middle-class and low budget buyers, apartments in Chennai in the north part present themselves as the best option. At Avadi, Ambattur, Thiruvallur, Thirumullaivoyal, and Thirumalla, you can expect 2 BHK apartments within 15-40 lacs. Anna Nagar and Kolathur in North Chennai, on the other hand, are costlier places if compared to the other areas. It is because of the tremendous progress at which these localities have made in terms of IT industry.

In most parts of the cities, the prices have escalated at a good pace. Both northern and central regions have seen a 15% appreciation in the first quarter of 2013. Towards South too, the rates have increased by about 16%. This is really a good scenario for long-term investors who can hope high returns for their money.

Depending upon the location, the price of a flat for sale in Chennai can vary considerably. The areas in south like Velachery, OMR, and Kelambakkam have high prices for flats, thanks to a plethora of IT companies and steady industrialization in these localities. The rate of a 2 BHK flat, occupying an average area of 1000 sq. ft., can cost you anywhere between 50 lacs and 1crore, though cheaper options are also available. Same is the case with Velachery and K.K. Nagar. You can look for cheaper apartments at GST Road, Tambaram, Thoraipakkam, and Padur.

Purchase, sell or rent properties over real estate website, Makaan.com. This property portal lists lacs of residential and commercial spaces from top-class developers, brokers, and owners. Individual rooms, independent houses, bungalows, villas, shops, and godowns in different locations and under different price tags are available for making a purchase.

What are the Options to buy a Property in Bangalore West?

If it is a house in Bangalore that you have been looking for, I am sure most of the suggestions to you must have come in favor of localities like Kanakpura Road, Electronic City, Whitefield, or Hebbal. Isn’t it? Make a search over net and you will see that it is either the southern/northern or the central regions that are mostly highlighted. The price rates in the localities covered under these regions are quiet high. For budget buyers, property in West Bangalore can be a good option. In fact, the western region offers residential properties that cater to almost all the income groups. Let’s elaborate a little and know about what is in store for a buyer here.

Before we talk about the specific localities, let’s see what is the ongoing price/sq. ft(psf rate) for the entire West Bangalore region. This August, the psf rate is calculated as Rs. 3140/-. In 2012, in the same month, this value was recorded at Rs. 2861/ sq. ft. This appreciation shows that the property in Bangalore West has boosted over last one year.

Next come the prices for individual localities. The price rates for a 2 BHK in localities like Jalahalli, Nagarabhavi, Bidadi, Tumkur Road, Vidyaranga, Sunkadakatte, Govindraj Nagar, and Peenya, the rates vary within the range of 25-33 lacs. Though the region still has to see a lot in terms of industrialization, there are several areas that have progressed at a good pace. Kengeri, for example, is a well-known satellite town of the Western Bangalore Real Estate market. It has good connectivity to its nearby localities. Namma Metro Corridor is proposed to be extended up to here; this will further help people to commute to and from here. The other highlights of Kengeri include its closeness to Outer Ring Road and the presence of a Global Village Park.

Malleswaram is another gem for residential properties in Bangalore in the western region. A popular choice for affluent and upper-middle segment buyers, the locality has the strategical advantage of being close to World Trade Center. Another elite area is Rajajinagar. The property prices here are quiet high, as compared to the other localities. A 2 BHK flat, with an approximate 1000 sq. ft area, can cost you as high as 1 crore, though cheaper options are also available. The proposed Yeshwantpur-Rajajinagar-Malleswaram Corridor is going to further alleviate the property prices here. At Magadi and Ring Road too, the prices are high, though they also offer several budget options.

Search and locate residential and commercial properties to buy, sell or rent over premier real estate portal, Makaan.com. Choose from lacs of properties as advertised by leading builders, agents, and owners. Search on the basis of criteria like location, price, age & type of property.

The Slipping Rupee affecting Real Estate in Hyderabad

With rupee plummeting like a free fall under gravity, the real estate in India is facing a crunch. In Hyderabad, that recently got itself caught within the turmoil of Telangana, is now facing the same in property market. This fall of currency is seen as the iron in the fire by NRI investors; every decease in value against dollar is seen as the lucrative opportunity by them. So, they are investing heavily on apartments in Hyderabad. For some of them, the expectations of making good money out of property investment is high so much so that they are just waiting for more slump in the value. Indian banks have further bolstered these investors by offering heavy interest rates on the amount they invest. It would be suffice to say that they are going to rake in mullahs as long as the money market is facing a depreciation.

 

To ameliorate the tension of common buyers who want properties for sale in Hyderabad, builders are now coming out with propositions such as pre-booking discounts and easy payment schemes. But unless the currency rises again and steadies itself to a decent value, not much hope is there in terms of sale-purchase in the city. In spite of all this, price rates in localities like Guntur and Vijaywada are soaring high. The price per square feet(psf) in the state has seen a 12% hike over the past one month. In August last month, it stood at a value Rs. 3016/-. In Hi-Tech City and Miyapur, the rates have increased by 21% and 17% respectively over past 12 months. Unless the Indian currency rolls back to its original value and the developers slash the rates, the demand is going to remain sluggish.

 

Leaving NRI investors aside, the scenario is not good for the end-users. The increase in inflation is stopping the buyers from making any purchase in the near future. As the demand is receding, there is a surplus supply. The result is imbalance in demand-supply ratio for the Hyderabad real estate. CREDAI(Confederation of Real Estate Development Association of India) has even laid down the proposition before real estate advisory services like Ernst & Young , Jones Lang Lasalle, and others to calculate this demand-supply ratio in the state. These agencies, whichever is assigned the responsibility, shall come out with a detailed insight of the things.

 

At Makaan.com, you can buy, sell, or rent houses, flats, shops, offices, studios, and plots, as listed by developers, brokers, and land owners. Lacs of properties, both commercial and residential, are available for searching. Choose the type pf property you prefer to buy in the price range that suits you the best.

Chennai Apartments for Sale: Look for the Latest Developments

The real estate scenario in the metropolitan Chennai is showing some interesting trends in 2013. The construction of new roads, buffer-zones, expressways is a clear indication that face of the city is going a change, and that the properties in Chennai is not standing static; it is, in fact, getting the boost from the developments taking place in terms of infrastructure. Let’s see how the city’s property is evolving this year:

 

Teynampet, one of the plush and expensive localities of Chennai, houses areas like Poes Road, Nungambakkam, T. Nagar, and Alwarpet. Buyers in these localities mostly come from high-income backgrounds. The presence of educational institutes and opulent hotels make it one of the most sought-after localities by the elite class. Another locality that is famous for its upscale infrastructure is Kodambakkam. The pivot to city’s film industry, Kollywood, Kodambakkam offers plush neighborhoods like Porur and Koyambedu. The buyers on the look out for lavish apartments in Chennai can opt for Teynampet and Kodambakkam.

 

Market trends indicate that the flats for sale in Chennai has seen an enormous appreciation in several localities, Outer Ring Road(ORR) being one of them. As per data, real estate prices have seen a whopping appreciation of about 300% in ORR localities, over the last three years. Connecting roads like GST, GWT, CTH, and GNT, this transport corridor has resulted in the escalation of property prices in the localities covered under it. The rates have escalated in areas like Mannivakkam, Kundrathur, and Perungalathur. As and when the construction gets completed, the demand for residential houses at ORR is expected to increase appreciably.

 

In spite of these positive developments, real estate Chennai has also suffered a few setbacks lately. The Construction of a residential area that comprised creating 396 apartments at Poonamallee has been stalled, as per the order by Supreme Court. “If planning permission is granted, dwelling units would come up, which would definitely add to the population of the area”, says acting Chief Justice R.K.Agrawal. Another thing that is the cause of concern is the number of unsold inventories in the city. There are about 40,000 residential dwellings that have no buyers yet.

 

The construction of a 9 km Eastern Bypass Road to alleviate traffic congestion on GST and Treachery Road is going on in full swing. Once that comes to its completion, the commuters shall have the option to leave aside the Tammara road while traveling. Right now, the demolition of the already-built structures is going on. The residents shall have to wait and see how the things turn out to be.

 

Select properties, both residential and commercial over property website, Makaan.com. This premier real estate portal offers properties in all the major cities of India, and makes it easy for the users to buy,sell or rent, as per their requirements.