Traction for Property in Chennai Observed in 2013

Real estate market in Chennai showed signs of steadiness last year. This year too, the city is expected to maintain this traction. In light of the high-end infrastructural projects, the realty prices can go up in the months to come. A number of sub-markets have already witnessed price appreciation on account of the ongoing Chennai Metro project. The project is deemed to reduce traffic congestion caused by vehicles plying on road. The expected price appreciation in the nearby areas is about 10% and more.

The upward trend for property in Chennai has been observed in and around areas likeGST Road, Porur, and Sriperumbudur. Across these, the total number of inquiries went all the way up. Conversation rates in these localities also witnessed a significant improvement. On the other hand, places like Oragadam and Old Madras Road(OMR) have not seen any major change in number of transactions. The realty market of the city is largely end-user driven, still, there was a good increase in the number of short-term investments in 2013.

In Central Chennai demand for residential spaces outstripped supply. In Central Chennai particularly, the demand market has performed well. Still, there are localities like GST, Oragadam, and OMR where the number of unused inventories is quiet high on account of lack of demand. The overall transactions for apartments and house for rent in Chennai improved last year.

In South Chennai, traction has been observed in some parts like Thoraipakkam, Perungudi, and Perumbakkam. Over Perumbakkam, a number of mid and high-end realty projects have been launched. Velachery, an area with a strategic location and super-connectivity, has seen price appreciation in last several months. With the construction of several integrated projects , Semnnachery has performed quiet well.

Hunting for a 2 BHK Flat for Rent in Bangalore Residential Property?

Excellent developmental scope and presence of physical infrastructure are the prime reasons why Bangalore is one of the most preferred cities for realty buyers. City’s rental market too has performed nicely over years. Demand for rental houses comes from both its local population as well from the expatriates that migrate here on regular basis. The city, unlike its northern counterparts, provides several affordable options to its tenants. We are going to have a look into the average rental rates of a two-room apartment in city across its several localities.

For a tenant looking for 2 BHK flats for rent in Bangalore, there are a couple of options. While there are budget localities like R.T. Nagar, Kundanhalli, Banashankari, J P Nagar, and Kammanhalli. Across these, one can find a two room house with rental prices in 6-8k rental bracket. Likewise, localities including names like TC Palya, K.R. Puram, Old Madras Road(OMR), Horamvu, Whitefield, and Dinnur: the rates on lower side across these lie mostly in this range.

For tenants who can pay monthly rental in 8-12k range, localities like Lingrajapuram, Marathahalli, Babusapalaya, Hoysala, Maleshpalaya, Yelahanka and Sahakar Nagar can be the apt choices. On the similar lines, Padmanshala, Kodigehalle, HSR Layout, C.V. Raman Nagar, Koramangala, Ganga Nagar, and Rammurthy Nagar carry similar rental rates.

For seekers of 2 BHK residential property in Bangalore, the city offers better options in the form of some well-developed localities. BTM Layout, Banaswadi, Anand Nagar, Bellandur, Mahadevapura, Old Airport Road, Doodankunte, Jayanagar, Benson Town, HMT Layout, and Jeevan Bima Nagar. Most of these have seen flourishing of IT companies over years and are considered premier areas for seekers of residential spaces.

Steadily improving connectivity and preference by High Net Worth Individuals(HNIs) have done wonders for city’s realty market. In spite of affordable prices, the market for rental properties manages to keep its head above water.

Chennai Properties Continue to Maintain Traction in 2014

The city of Chennai managed to give up-to-the-mark performance last year and if the trade pundits are to be believed, the city is expected to fair well this year too. Presence of excellent infrastructure, upcoming metro project, and stronghold over software sector have been the boosting factors for city’s property market. Chennai Metro which is suppose to be developed in two phases has placed a positive impact over property rates that have already witnessed a rise of about 10% in the nearby localities.

The upward trend for Chennai properties has been observed in and around areas likeGST Road, Porur, and Sriperumbudur. Across these, the total number of inquiries went all the way up. Conversation rates in these localities also witnessed a significant improvement. On the other hand, places like Oragadam and Old Madras Road(OMR) have not seen any major change in number of transactions. The realty market of the city is largely end-user driven, still, there was a good increase in the number of short-term investments in 2013.

In Central Chennai demand for residential spaces outstripped supply. In Central Chennai particularly, the demand market has performed well. Still, there are localities like GST, Oragadam, and OMR where the number of unused inventories is quiet high on account of lack of demand. The overall transactions for flats for salein Chennai improved last year.

In South Chennai, traction has been observed in some parts like Thoraipakkam, Perungudi, and Perumbakkam. Over Perumbakkam, a number of mid and high-end realty projects have been launched. Velachery, an area with a strategic location and super-connectivity, has seen price appreciation in last several months. With the construction of several integrated projects , Semnnachery has performed quiet well. Siruseri too has seen a plethora of mid and small segment housing projects going on; the presence of Asia’s largest IT Park has awarded it with the commercial and corporate importance. East Coast Road(ECR) is dotted with a number of luxury projects and is witness to a high demand for high-end bungalows.

Makaan.com, is one among the top real estate site which lists all type residential properties in Chennai across variable price range.

New Property in Hyderabad: Ready-to-Move Projects in Gachibowli

Like other tier-i cities of India, Hyderabad is witness to a multitude of ready-to move residential projects. This blog throws light over some of these new projects that the developers and builders have launched in 2014 and are ready for possession by buyers. A good number of these have emerged in the one the prime localities of the city, namely, Gachibowli. Let’s have a look on the premier projects that have come up here.

Nagarjuna Residency by NCC Urban offers 3 BHK apartments in Hyderabad, The units are valued at around 1.2 crore and carry 2430-2434 sq. ft. area. Laced with ultra modem facilities, aesthetic design, and hi-tech security system, this project in Gachibowli is one of the prestigious projects that have come up in 2014.

Ramky Towers is another prestigious project for residential Hyderabad property. Valued at 1 crore and above, the project comes with 3 and 4 BHK apartments and occupy area in 1950-2420 sq. ft. range. The project offers everything from steam to sauna and jacuzzi to health club. Gauthmi Iconica by Gauthmi Developers comprises of 3 BHKs worth 70 lakh. Standing over an area of 1750 sq. ft. each, the residential units have been developed after meticulous planning and incorporating global standards. With several corporates in its vicinity, it has garnered attention of buyers and investors equally well.

Yet another premier projects to buy property that have merged in Gachibowli flats are by Emmar MGF. Named Boulder Hills, the project comprises of 2, 3, 4 BHK residential units. Built in the form of an integrated township, the project boasts of international standards and a high-end golf course.

Bangalore Real Estate Market Growing by Leaps and Bounds

Bangalore’s real estate sector has been searing over years and has turned a series of investments from HNIs(High Net Worth Individuals). It is city’s magnitude of progress in terms of property market that it has acquired the status of being 3^rd largest hub for HNIs. There are a number of economical and infrastructural factors that have set ablaze the city’s performance in realty sector. Strong presence of Informational Technology and BPOs have resulted in some miraculous effects upon its overall performance.

Dotted with IT parks, Aeronautical and Biospace companies, India’s fastest growing city has acquired magnanimous scales of real estate growth. To add to this, real estate Bangalore has got exacerbation from the growing demand for both residential and office space. The city is all-set to meet the whooping office demand for 6.3 million square feet in 2014. Realty barons are counting high on city’s sempiternal abilities for good returns.

The city is also witnessing good demand supply ratio. With the emergence of high-growth localities such as Outer Ring Road and North Bangalore, demand for apartments in Bangalore has seen grown significantly. With the a vast improvement in the disposable incomes of its denizens, the demand patterns have changed. More and more young buyers are now in a position to afford high-end properties.

A spur in buy property activities has been witnessed in East Bangalore. With the development of EPIP(Export Promotion Industrial Park(EPIP), the demand graph has headed towards the higher end. Good economical conditions along with improved connectivity have too gone in its favor. With the emergence of Peripheral Ring Road, localities like Whitefield and Yelahanka shall see a spur of real estate activities, in the time to come.

Rental Values of 3 BHK Residential Properties in Bangalore

Demand for rental properties in the Electronic City, Bangalore, remains steady, thanks to the good number of job opportunities created year after year. Presence of software sector, up-to-the-mark infrastructure, and good connectivity have remained the major contributing factors for steady progress of rental market. As far as price rates are concerned, they vary from region to region. This blog discusses about the average market rates for a three room residential apartment on rent.

Central Bangalore is one of the most expensive regions and a 3 BHK apartments for rent in Bangalore can cost anywhere in Rs. 25000 and 1 lakh. For the tenants seeking three bedroom flats in localities like Benson Town, Frazer Town, Richmond Town, Indira Nagar, St. John Road may need to pay monthly rental in 25-30 k bracket (starting rates). Over Levelle Road, Vasanth nagar, Commercial Street, Queens Road, and Cook Town, the starting prices are concentrated around 35-45k/month. Still higher rates are prevalent in Palace Road, Coles Road, Aga Abbas Ali Road, MG Road, Cambridge Layout: a three room apartment can cost a tenant around 60-90k/month.

A tenant looking for three room flats in East Bangalore has several options. Whitefield, Maratahahalli, and Horamvu are the budget localities. A three room apartment across these may cost a tenant a monthly rent in 9-12k range. Residential properties in Bangalore across Mahadevapura, , Sarajapur Road, Doddankunte, Thippasandra, ITPL, HBR Layout, and OMR (Old Madras Road) are available at monthly rental lying in 15-20k range. 3 BHK properties at Indira Nagar, AECS layout, and Kundanahalli come at higher monthly rentals.

South Bangalore houses some well-known localities such as Whitefield, Jayanagar, JP Nagar, Banasahanakri, Hosur Road, and others. Tenants can avail three room apartments in 10k-1 lakh bracket. For 10-15k rental, the apt localities are JP Nagar, Electronic City, BTM Layout, Hosur Road, and BTM. Rents in 15-20k are prevalent over Jayanagar, HSR Layout, and Koramangala.

Where can you find 4 BHK Apartements for Rent in Chennai Real Estate?

Searching for a 4 BHK flats for rent in Chennai? If you have a good take-home pay and can afford to set aside at least 15-20k as monthly rental, you are at the liberty to have many options across different parts of the city. A typical four-room apartment in city can cost as low as 15k and as high as 1 lakh. Let’s have a look over different rental brackets prevalent over different localities.

For tenants looking for el-cheap options, Chennai real estate offers localities like OMR (Old Madras Road, Pallikaranai, Pammal, Perumbakkam, Urapakkam, Ayanbakkam, and Porur. The typical rental range for a 4 BHK flat across this is 15-20k/ month. In 20-30k rental bracket, options like Gopalapuram, K.K. Nagar, Keelkattalai, Kodambakkam, Perungudi, Thazhambur, and Nungambakkam can be good choices for tenants.

4 room apartments for rent in Chennai that are available @ monthly rental lying between 30-40k are many. Prominent locations such as ECR, Kilpauk, Kottivakkam, Mandavelli, Mylapore, T. Nagar, and Iyyapanthangal. Eggattur, Uttandi, Sembakkam, Choolaimedu, Maramalai Nagar, Chromepet, and Cenotaph Road are the posh areas and carry expensive rentals. The price bracket across these generally lies in 40-50k bracket.

If you can shell out 50-80k as a rental money every month, the localities that can be apt for you are Akkarai, Alwarpet, Besant Nagar, R.K.Salai, Neelankarai, Senthome and Oragadam. Still higher rentals, i.e. touching 1 lakh value are prevalent over prime residential areas sch as Boat Club Road, Kotturpuram, MRC Nagar, Abhiramapuram, Ayanvaram, Chetpet, and Pallavakkam.

Chennai rental properties have managed to be in demand, thanks to the presence of IT sector and high-end infrastructural projects. The city is well-connected and has made tremendous real estate development over last decade. Migration of expatriates from other cities has also kept the rental market all hot.

How Residential Hyderabad Properties Fare in Realty Market?

The year 2013 brought a lull in Hyderabad’s real estate market. The absorption was an all-time low and with the creation of vacant land for development, the absorption rate fell further. This was true in case of commercial realty market, but residential sector gave satisfactory performance. In spite of being caught badly in Telangana issue, Hyderabad’s real estate managed to keep its head well above water. Property rates of flats in the city have not budged from their place over a span of several years. Still, there are some locations where some appreciation did take place.

The quarter-on-quarter appreciation of real estate Hyderabad took place across Alwal, Appa Junction, Madhapur, and many more. An appreciation of 1-5% was observed in the last quarter of 2013 across Kompally, Kondapur, Alwal, Appa Junction Sainikpuri, Bandlaguda Jagir, Banjara Hills, and Ameerpet. The properties underwent a higher escalation in localities like Madhapur, Hi-Tech City, Bowenpally, Kompally, A.S. Rao Nagar, Padmarao Nagar, and Rajender Nagar.

As far as prices of Hyderabad properties are concerned, they are affordable in comparison to the other tier 1 cities of India. To delve deeper, we consider a 3 BHK multistorey apartment across city’s various regions, and see how the localities fare in terms of prices, and this context, it is for those three room apartments that are valued at 40 lakh and below. Across Vikarabad, Nagaram, Shadnagar, Alwal, and LB Nagar, a 3 BHK comes at an affordable price bracket of 15-25 lakh.(These are starting rates). In Attapur Road, Bolaram, Pocharam, Sainathpuram, Kompally, and Beeramguda, the same is available in 25-30 lakh segment. Similar rates can be expected over Manikonda, Kadtal, Uppal Mandal, Bowrampet, and Bachupllay.

For seekers of 3 BHK apartments in Hyderabad in 30-35 lakh bracket, Gachibowli, Maninanagr, HiTech City, ECIL, Kapra, and AS Rao Naagr. The prices across Alkapuri, Tellapur, Medak, Bowenpally and Yapral are relatively higher: lying mostly in 35-40 lakh price segment.

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