Promising Future for Investors Putting their Money on Properties in Bangalore

The existing townships around the Peripheral Ring Road area are expected to undergo price escalation, in the months to come. Qatar Investment Authority’ has decided to invest a considerable $300 million in city’s real estate and that is a good news for realty market in the city

Real estate Bangalore has always been a topic of discussion among realty pundits, thanks to the stronghold on infrastructure and the boom of IT sector in past few decades. Like in other metros, the capital rates have undergone a good escalation this year too. The percentage hike in properties is anywhere between 10-100%. With the arrival of new guidance values for residential and commercial values, the prices are expected to tread an upward path. Investors who are looking for long-term returns can rake in mullah with the appreciated property prices

Apartments for sale in Bangalore can be chosen in different localities as per the current rates going on in each one of them. For instance, a buyer eying a two-room apartment in the price range 30-70 lakhs can make a choice among the localities like Tumkur Road, Electronic City, Whitefield, and Outer Ring Road. In Electronic city, the psf (price per square feet) rate in July stood at Rs. 3238/- while a buyer searching in Whitefield, can make a purchase at a similar rate of 3533/ sq. ft. At Gachibowli, the rate is little higher at Rs.3700/ sq. ft.; at Kondapur, it is Rs. 3234/ sq. ft., while at Hi-tec City, it is around Rs 3872/sq. ft.

With the upcoming Peripheral Ring Road( PRR) project, there is a good chance that there will be too many new launches of Bangalore apartments. The existing towns located around this area are expected to gain good price escalations. The 65-km Sarjapur- Tumkur project has already turned several heads, specially of those developers, who are all geared to set housing complexes and commercial SEZs in the nearby areas. This line shall be covering the plush localities including Marathahalli, Hebbal, Kengeri, Gokula, Madiwala, JP Nagar and BTM Layout. The rates of apartments in these particular localities are expected to rise considerably.

For an average psf rate for a properties in Bangalore, there has been an escalation of about 6% in past 12 months. As the predictions are largely on the positive side of the graph, a plentiful of international companies are on their road to afloat new projects here. Qatar Investment Authority’s decision that it would invest a large sum of $300 million in city’s realty market is a good news. As there are many more projects in pipeline, it is clear that apartments apartments for sale in Bangalore shall bring profits for investors, in the months to come.

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Property Hyderabad: Localities Witnessing a Good Appreciation This Year

With Telangana given the green signal, all the guesstimates for the realty market in Hyderabad seemed to have died down. The price trends appear to be on the side of an investor, and the number of inquiries for the same are expected to rise, in the months to come. As Telangana would now be a part of the state, its potential for generating employment opportunities has increased manifold. This, in turn, can have the positive impact on the new launches and thus, bring about a rise in demand for properties in the city.

The capital rates of the land are estimated to undergo an escalation, specially in the peripheral areas including Outer Ring Road, where developers are all prepared to initiate new residential and commercial projects, in the months to come. Similarly, the Hyderabad real estate is expected to rise in the capital rate and gain a leverage of at least 200-300/ sq. feet. In case of villas too, the picture appears rosy: being low in supply, their demand is expected to increase, and prices to follow the suit. For plotted developments, the steep rise was witnessed in 2012, and this year too, they can continue with the trend. North and South Corridors have seen, however, the coming up of many budget villas.

Considering the months of April and June, we see that areas like Bachupalli and Guchibowli have seen an increase in property prices by 10-15% .Gachibowli has become one of the most preferred locations for purchasing property Hyderabad. In the first quarter of 2013, Hi Tech city saw even a much higher growth rate of 29%. If the city, on the whole, is taken into consideration, the per square feet value has gone up by 16% over last 12 months. Contrarily, areas like Kompally and Kondhapur have seen a decrease in the rates.

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The Stumbling Blocks before Residential Properties in Bangalore

After the hype over the toll-collection on the road to Bangalore International Airport(BIA) got over, the commuters were relieved, Till now, these commuters had to empty out their pockets for payment of taxes to National Highway Authority of India(NHAI). To tell the truth, they were spending their money on a road that was all laced with boulders, and which was still under construction . Come Monsoons and the passengers’ brooding for bearing a rough ride daily became more prominent. And this toll-collection added to their woes more. They were already displeased with the bumpy rides. The news channels flashed recently the traffic jam at Sahakarnagar Junction due to water logging. This chaos proved a great hindrance to the development of new properties in Bangalore that were supposed to be built around NH-7. The slow pace at which the construction is taking place only increased commuters’ grievances. But much to their relief now, the Devanahalli Court has ordered a stay over toll-collection, at least for a few months. But this is only a temporary solution to the problem

A much more complex problem has gripped real estate in the city in its web. More than one-fourth of the city’s dwellers live in shanties or slums. And this population is rising with passing of each year. These poor class can’t be easily relocated to cities for better houses: as they have no roof to hide themselves, they continue living in slums only.. And most of these shanties are built illegally; even the government has not taken any concrete steps towards regularization. Another important reason responsible for the boom of these slums is the extortionate prices of flats in Bangalore. As a common man can’t afford to buy a simple BHK, he prefers living in slums.

The hoodwinking by builders and developers, a problem too common in India, has also plagued properties in Bangalore. Only in the recent past, there was a news of the buyers protesting against a leading developer, who had promised to lay a water pipeline in the area, but did not commit to his promise.

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Residential Properties Faring Differently in Different Parts of Bangalore

Whenever RBI tries to control inflation, both builders and buyers have their spine-chilling moments. Buyers because they become apprehensive of paying more for a house, and developers because they frighten from fall in demand. But the recent measures taken by RBI did not shocked Bangalore’s developers much; they are quite sure that the demand for properties in the city shall continue steadily. One of the reasons could be this: the real estate prices in the city are still lower than that of other tier-1 cities like Delhi and Mumbai.

The prices of residential properties in Bangalore increased manifold in the southern region. The reasons are all clear. The demand for real estate in southern and eastern localities like Koramangala, Hosur, Bannerghatta, Hebbal, Sarjapur, and Electronic city are witness to price accretion. The high demand in these localities can be the reason for the same. In most of the South Bangalore, the focus of the developers is on premium projects, as buyers, here, are more inclined to make luxury purchases. So, the construction of villas, row houses, and condos is going on in full swing there. As the demand never ceases to go down in these particular areas, the developers always have the reason to escalate the rates. In past 2 years, the average capital rate has increased by about 10%.

Contrarily, Bangalore real estate, as a whole, has witnessed a slowdown this year. The demand for houses has seen a decline in rest of the city. The situation of oversupply, akin to other metros, has bogging down the developers. As of now, our of about 1 lac residential houses, as large as 60,000, are still unsold. This has, in turn, led to price correction in many colonies. So, a buyer interested in making a purchase can reap benefits from the current scenario.

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Apartments in Chennai Witness High Rates, Low Demand in Peripheral Areas

It is the proliferating infrastructure in Chennai that has played a principal part in growth of its real estate. Now and then, we heard a lot about ORR(Outer Ring Road), a 62 km long road stretch that intends to connect Vandalur and Minjur localities. As this road shall be a link to different parts of the city, the developers have floated many a projects over and around ORR. Accordingly the prices there have increased manifold and now, a buyer is thinking twice before making a purchase there. Unless the prices get corrected, which is seemingly impossible at present, the demand would continue to make a downward journey.

Another major development that has been the talk of the town is the construction of a bus terminus, 65 acre in area, connecting ORR and GST terminal, which is also seeing a roar of inquiries, from builders and builders. Seeing the way properties in Chennai are surging up, the developmental authority in the city has called for advisory agencies to give their suggestions on utilization of a 50 km of buffer zone, a part of ORR.

With the deluge in prices and increase in the number of residential apartments in Chennai, the demand, in turn, has gone all the way down. Seeing the waning interest of the buyers into making a purchase in and around ORR, in spite of good growth in infrastructure, has troubled the developers. In last quarter, as a result, prices dipped down. In spite of developers making tall claims about the high prices, they are coming up with freebies of all sort, and even offering cash discounts. As the Cushman and Wakefield has already stated that these discount schemes clearly indicate that prices in peripheral localities are on their way to correction.

If the other parts of Chennai are taken into account, the situation is not that bad. Here, the demand is high and the prices haven’t appreciated much. Contrarily, the rates have gone down in localities like Ashok Nagar, Kodabakkam. Guduvancheri, Kilpauk, Anna Nagar, Medavakkam, Madambakkam, Navalur, and Perumbakkam.

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The Hot Localities in Bangalore Available for a Rent House

Have a family and looking for 3 room flats in Bangalore? Then you are at the disposal of too many options. As the city is famous for its low real estate prices, a 3 BHK too is cheaper in the electronic city. And as far as rental properties are concerned, people prefer to make a search in and around hot localities like JP Nagar, Jaya Nagar, and Whitefield. Most of the 3 room rental properties in these localities offer luxurious living spaces along with all the modern amenities that one looks forward too.

A search for a rent house in Bangalore in the city center can start from the localities like Indira Nagar, Frazer Town, Coles Road, Seshadripuram, Queens Road, Cook Town, and Langford Town: the cheaper rent rates in these localities can be as low as 15-40k. Frazer Town, Indira Nagar, Ulsoor, Benson Road, and St. Joan Road are the localities where the rates for a three-room flat varies somewhere between 50-70k per month.

The eastern part of the city has mostly budget options for the seekers of three BHKS, though in localities like Whitefield and Defence Colony carry much higher rates. One can choose among localities like ITPL, PMR, AECS Layout, Brookefield, Kundanhalli, Off Madras Road, Mahadevpura, KR Puram, Domlur, Horamavu, and GM Palaya. The lowest rentals in most of these colonies of real estate Bangalore start from 7k and go as high as 35k.

South Bangalore has some of the prominent localities that have got a face-lift by the development of IT sector here. The colonies offer flexible rental rates: 9k-1crore. At Jayanagar, Uttarahalli, BTM Layout, and Electronic City, tenants can find apartments costing up to 25 lacs per month. However, JP Nagar, Koramangla, Hosur Road, Arekere, Basavagudi, the prices per month can reach as high as 1 crore.

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Properties in Hyderabad shall soon Rise and Shine in the Realty Market

In spite all the hoopla created during pre-Telangana period, the real estate in the city of Hyderabad is expected to see light at the end of the tunnel. The rates are expected to go high, in the month to come. Both the demand and supply shall see a rise in number. If the real estate prices are considered now, we see that they are undergoing a bad phase, both in terms of price rates as well as the purchasing power.

At present, the property Hyderabad is undergoing a torpor, as is clear from the below par prices and the lack of any interest in making a purchase of property by the end-users. As per APRDEA(Andhra Pradesh Real Estate Developers Association), though the cost of input have seen a whopping 36% hike this year, the prices have not appreciated accordingly. In fact, the number of inquires for housing projects have diminished and the registrations are seeing an all-time low.

But what Jones Lang LaSalle, the research firm, has to say on this? According to it, it is one of those resilient cities that make a stupendous growth after undergoing a slump for a period. As of now, there are thousands of flats for sale in Hyderabad that are waiting for their turn. In the near future, the real estate is supposed to return back with a bang and reach all-new heights. As per Credai report, the realty market, in spite of seeing a down phase, is faring far better than previous year. A significant thing is to notice its transformation from running in favor of a buyers’ to a sellers’ sentiments.

The prices in Hyderabad, being low, are user-friendly. Buyers can take maximum advantage of the current low-price scenario. From investors’ point of view too, the market is favorable; with an increase in the rates in the coming months, they can expect to get huge returns. The fingers are all crossed and we have to wait for the turning of the events.

Properties Price Trends for I BHK Apartments in Chennai

Whenever a city is backed by IT/ITeS industry, there can be no two thoughts about the demand of residential property there; it is always high. The same is true for Chennai that has gained a strong foothold of IT and corporate sector. The prices of single BHKs in this city varies from one region of the city to the other. For the seekers of 1 BHK flats, there are too many options and you can loacte the one that best suits your requirements.

The real estate Chennai in the city center carries high rates, the reason being the presence of plush localities and IT-backed industries. Take Choolaimedu, for instance. For a single-room BHK, a buyer needs to pay anywhere between 35 lacs and 86 lacs. Similar is the case with Nelson Manickam Road, a locality well developed and carrying world-class infrastructure. A single room flat is available within the price range: 70-86 lacs! Nungambakkam, known for its stronghold of IT industry and first-class infrastructure, has scanty but pricey 1 BHKs. These can cost one up to 1 crore.

For buyers who thrive on minimal incomes, and are on the look out for apartments in Chennai at cut rates, North region is highly recommended. The flats ranging between 10-20 lacs can easily be availed in localities like Kolathur, Thirumullaivoyal, Avadi, Thiruvakkadu, Vanagaram, and Thiruvallur. The higher rates, up to 38 lacs can be expected at Korttur, Padi, and Anna Nagar.

Towards West too, low cost one-room flats can be availed. The hot localities in this region to make a buy include Poonamallee, Porur, Kolapakkam, Sriperumbudur, Ayanambakkam, Karaiyanchavadi, Thiruverkadu, and Koyambedu. The buyers of properties in this part of real estate Chennai has certain localities where a purchaser may have to pay more for the same kind of flats. Maduravoyal, Iyyappanthangal, and some parts of Porur have 1 BHKs available in 30-60 lacs range.

The South Chennai has a far more options for home buyers, as compared to any other region. A typical one-room BHK starts here at around 10 lacs and go as high as 45 lacs. For 10-20 lacs range, localities like Kelambakkam, GST Road, Thiruporur, Urapakkam, Mudichur, Guduvancheri, OMR, Perungalathur, Vandalur, and Selaiyur are recommended.

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Bangalore’s Price Trends for a Rent House in the Current Quarter

There has been no reason why a city with excellent IT sector and fine infrastructure never gets short of the demand for rental properties. Most of this demand either comes from low-income groups or from high-salaried professional who have relocated to the city in search of jobs. The price rates in different localities have fared differently this quarter. For instance, areas like Benson Town and Banasvadi have seen an increase, while in localities like JP Nagar, HSR Layout have seen a down-slide in the rates.

If the rate of a rent house in Bangalore is considered in accordance to the different areas, the price values are different from one to the other. Take city center into account: In localities like Benson Town, Frazer Town, Cook Town, Coles Road, Jayamahal, Cunningham Road, Indira Nagar, and Langford Town, the rental values vary between 20k and 40k. Richmond Road and Vasanth Nagar have higher price tags: up to 50k. For cheaper properties, tenants can locate a flat in Seshadripuram, Lal Bagh, and Wilson Garden.

Bangalore real estate towards east has several localities that are preferred by the tenants owing to their stronghold over IT industry. OMR, Sarjapur, Whitefield, KR Puram, and Hoodi Village are the areas that have made significant development in IT/ITeS sector, thus generating more jobs. The demand for rental properties in these remain high. The approximate rent per month is between 12k-30k. Most of these are affordable by the professional class, who have six-figured incomes.

In North, one can get hold of a budget rent house in Bangalore in areas like Yelahanka, CBI Road, Byrasandra, Anand Nagar, Ganganagar, and Nagavar. However, if a tenant is looking for better amenities and furnished properties, they can seek houses in Hebbal, HBR Layout, Bellari Road, Dollar Colony, and Thanisandra. The southern localities mainly comprises of posh localities like Koramangla, Kanakapura, and HSR Layout. These region offer flexible options in terms of price tags. Find here the properties lying within the range 12-30k.

Property Hyderabad: Stricter Laws for Developers and Owners

As if the issue of Telangana was not enough to bring Hyderabad real estate into turmoil, other issues have cropped up. Several developers have been found evading the labor-cess, and such defaulters shall have to pay the same; only after submitting a No Objection Certificate, they shall be able to free their mortgaged properties.

Another lax by the developers of apartments in Hyderabad is their unwillingness to complete the LIG projects that were ordered to construct in areas like Gachibowli and Kukatpally. These LIG projects were proposed for the middle-segment people who cannot afford high rates. It was mandatory on the part of the builders and the developers in their joint venture projects to reserve 5% land for the construction of such flats, But as the developers did not find them viable enough, they overlooked the order. A number of such projects were proposed in Hi-Tech, Warangal, Vishakapatnam, and Khamman. The lack of interest can be seen from the fact that out of proposed 110 LIG projects in Kukatpally, only 55 have been completed till now.

Another important development related to property Hyderabad is the escalation of the property tax in the current quarter. This shall be applicable for the both the residential as well as commercial properties, and shall come into effect in November this year, during the festive season. The minimum value of this property tax is Rs. 0.9/ sq ft. Depending upon the locality, the tax shall increase from its current value to some higher one. For posh localities like Banjara Hills and Jubilee Hills, the owners shall have to pay Rs. 5/ sq. ft. of the property that they own. Earlier., this value stood at Rs. 1.25/ sq. ft. Similarly, more tax shall be levied from the owners of Gachibowli, Uppuguda, and Gawlipura. In Gawlipura and Uppuguda, the property tax value has been raised from Re. 1/- to Rs. 2.8/ sq ft.

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