Is it too late to own a row house in Bangalore

Looking for a row house in Bangalore and find it hard to come by? If yes then you are not the only one facing the dilemma as more and more builders and developers today are focusing their attention on fast selling affordable housing projects. But this does not mean there are not enough row houses on offer. Unlike many people who think the need for row houses in Bangalore in past its attraction to the buyer, builders are still offering row houses in bigger and better projects.

Being one of the largest cities and a thriving metropolis of India, Bangalore is on an upward surge with regard to real estate development. The demand for property has risen exponentially very recently in the city, say property experts at Sulekha Properties. You purchase affordable apartments in Bangalore, but finding affordable row houses will be difficult, if you don’t know where to look. This is especially true if you are looking for a calm, serene and green home in the crowded and bustling city of Bangalore.

1

Why are row houses hard to come by?

On an average it may be the right estimation to assume that the number of row houses on offer in Bangalore may have dipped compared to the same period a few years back. One of the many reasons includes the constant rise in real estate pricing. With row houses getting a tad too expensive users opt for 3 or 4 BHK apartments and save on any unwanted expenses.

Another reason is the change in family patterns as more people are moving away from a joint family system and adopting nuclear families. With smaller families the need of a row house apartment gets minimized hence the lack of consumer interest in the segment.

Builders on the other hand are also well within their rights to focus on areas that have a better consumer demand which includes smaller homes and affordable housing. Such projects are easier to compete in faster deadlines and sell off easily making it easy for builders and developers to manage.

So is it too late to own a row house in Bangalore?

If row house is what you need there are definitely options for you to choose from. At best your options may have been minimized but there are still multiple options available as a row house buyer.

 

 

 

 

 

2 BHK Flat schemes to increase buyers in Ahmedabad

Ahmedabad real estate market is one of the thriving sectors in western India. As one of the biggest cities in Gujarat, Ahmedabad real estate has witnessed a huge inflow of fresh projects catering to the rising demand of houses. From affordable housing to elite projects, Ahmedabad real estate has a wide range of active projects galore. The one big sector that remains popular in Ahmedabad realty market in the 2 BHK apartment space.

The number of buyers looking to buy 2 BHK flats in Ahmedabad is much higher than any other segment. One of the paramount reasons is that Ahmedabad unlike many other cities has not entirely moved to the nuclear families syndrome. Ahmedabad today as a traditional Indian city still has a joint family system thus catering to the 2 BHK apartment structure unlike other cities like Mumbai and Pune where 1 BHK apartments are on the rise.

4

 

The inflow of new projects in the city of Ahmedabad is also keeping the sale trends in mind as most active builders and developers have projects having 2 BHK flats in the majority. With new projects in the pipeline and many fats up for resale in the city, the real estate structure in Ahmedabad has been consolidating offering good return to investors.

Even as investing in 1 BHK apartment may be far more pocket friendly, the rising growth and demand for 2 BHK apartments has meant such apartments have been on the radar for most of the investors including NRIs.

Both resale and new projects are equally attractive for the Ahmedabad realty market as the city has been one of the fastest growing markets for real estate in the country. A strong realty market in Ahmedabad is essential to keep the overall sentiment for the real-estate positive in the coming year, say property experts at Sulekha Properties.

Many builders are running real estate schemes to attract potential buyers. This includes schemes in tie up with banks as well as standalone schemes like discounts. Schemes in tie up with banks include zero processing fee schemes for their buyers, Tranch EMI options and planned disbursement schemes like 80:20 schemes. Such schemes are luring more buyers to their projects and making loans more affordable and customer friendly.

 

Guidelines to register resale flats

Old or new the one thing that is common for all real estate projects- be it flats or villas is registration. Unless you register your flat or property properly, you are not the legal owner of the property even after sharing the payment with the seller or builder.

Registration for flats or property requires a visit to the local registrar’s office and payment of the requisite fee for registration along with stamp duty charges. If you have taken a home loan for your property purchase, know that your loan will not cover the expenses towards registration. You will need to pay for the registration from your own pocket.

There may be plenty of flats available for resale but when you are buying resale property the first thing to check in the registration process. For example there are plenty of flats available for resale in Velachery in Chennai but not all flats have a clean background due to various reasons.

If you are buying any resale flat the first thing that you need to check the legal validity of papers of the property. You can make use of a legal attorney who will conduct a background check for the legality of the papers. Also ensure that the property is in the name of the seller and that there is no dispute or mortgage on the flat. If you happen to see any encumbrances, ask for release letter / NOC.

1

If all the property documents are clean ensure you know the charges towards registration for the property. Usually the stamp duty charges range from 2 to 6% of the property cost. The registration charges of 1% are charged by the office of the local registrar. You will need the KYC documents for the buyer and seller and ensure you visit the office of registrar in person. You can also take an online appointment to ensure your registration process is facilitated without much waiting period. There are many legal agencies offering services online, says experts at Sulekha Properties.

There is several real estate scams happening in our country, which means property buyers have to be very vigilant before taking any steps. One should consider taking advice from an expert lawyer and go for approved projects of banks to possible extends. Checking legal documents means covering documents of last 15 years and updated Encumbrance Certificate.

 

Real estate getting slow down in Gurgaon

The real estate market across all over the country is facing downturn in recent times. The condition is same in all big and small cities. The situation in Gurgaon is also not so good. The weak economy has affected the demands of the residential units. Gurgaon has been an investor’s market for the past years but recently the scenario has changed. The slowdown of both Indian and international economy has turned it into the buyers’ market. However, this is the opportunity for the buyers who want to have a good flat in affordable price range.

In recent times the new investors are also staying away from the market. The current view of real estate in Gurgaon is favourable for the buyers rather than investors. In this state, buyers can also bargain to get more attractive discounts. So, if you are among the buyers then do not miss the opportunity or even hesitate to buy a residential property and if you are an investor then you must know the slowdown will not remain constant. Besides, it can be the best time to invest, as the market is expected to rise steadily from the end of the year.

1

The approximate value of reduction due to the slowdown is estimated to be 28% as compared to the last year. This drastic slowdown has compelled the investors to release their holdings to the others with discounts. The reason behind the slowdown is believed to be caused due to weak economy and inflationary pressure. There is also another issue behind the slow down and that is the large number of projects which are launched in the recent times and which is diluting the heavy demands in the field of real estate. Besides, many experts predict that much people are interested in luxurious housing rather than a simple flat and hence luxury is getting more attention and most of the real estate giants are launching luxury projects only.

The odd thing is the demand and supply of such luxurious projects is not well balanced, it is seems to have high demand and low supply, says experts at property.sulekha.com. That is attracting the builders to go for such projects which lead to the downturn situation. The underlying thing is people want luxurious flats due to the property requirements as well as the changing lifestyles of the current generation of India.

Benefits of Buying a Recent Launch Row House

Quaint rows of homes, joined together for a wholesome neighbourhood – if that is your idea of good, clean and happy living, then a row house may be the ideal option for you. Space is a premium element in most urban quarters. Yet, if you have harboured the dream of living in a home without the high maintenance estates ruining your day and with proximity when it comes to neighbours, then the recent influx of row house properties will certainly be of interest to you. Recent launch of row houses for sale in Bangalore have revealed neatly lined up homes placed in townships that also boast of towers and various amenities. These row houses are a convenient and luxurious option with your own driveway and a patch of greenery as well. As per Sulekha Properties, the best time to invest in a row house is at the launch of a project. Here’s why!

1

–    Soft Launch: The soft launch of a property or township is one where the initial marketing happens when the property is in the planning phase. At this point, it is easy to get an early bird discount. At the very onset, the builders and developers will be happy to offer a discount of 10% to 15% for most buyers. This soft launch is usually used to generate a cash flow, which means that they will take on many bookings to generate the funds to develop the property and get all the necessary permits in place. Therefore, they will be keen to get those bookings by offering heavy discounts.

–    Rising Prices: Here, rising prices are a thing of the future, which makes the present look rosy. At this point, the price of the property may not have really gone up as it is yet to be developed. So it is a good idea to invest in it and watch as the prices soar later at the recent launch row houses for sale in Bangalore. Builders and developers do understand that the buyer and the builder are sharing the risk at this point, hence they do not really hike up the prices to begin with.

–    Loans: When you buy a property at launch, you will be paying the down payment and the rest of the amount as and when the various levels of construction and development happen. This gives you precious time to plan and avail a housing or house building loan at competitive rates.

IS it worthwhile to buy resale flats?

There is always this dilemma among people: if it is worth it to buy a flat that has recently been put on resale. The HSI Index that has been published for 2016 shows a sharp decline in consumer sentiment for resale flats. This means people are looking more than ever towards new properties and are ignoring those that have been already established making it difficult for most flat owners to sell of their flats says property.sulekha.com. There are many options for those searching for resale flats with all amenities in Bangalore

1

However, resale flats might just be a viable option for new home buyers. Instead of waiting for long periods of time waiting for the real estate prices to come down or taking for granted the sugar coated glib words of the builders, a financially sound and confident person always searches for options that offer a viable, cheap and competent solution. Although a resale flat may not have the glamour and freshness of a new one, it can be obtained at a discount of no less than 10% of the rate of a new building. Plus, there are many advantages that the water and seepage systems have been tested which make the flats easy to manage because unforeseen problems do not arise suddenly. However, is the comparison of the cost the only criteria to make this decision to buy or invest in a resale flat?

However, you must be aware of the main issues that resale flats face over time. For salaried individuals however, resale flats are sometimes the best options available at a cheap and affordable price.

2.jpg

  • The flats have been handed from person to person and hence, buying a resale flat sometimes means that you have to pay about 20% down payment at least, which may be in hard cash only, something that is not asked of by the builders who are happy with small payments initially.
  • There are extra expenses involved like the compulsory registration fees, additional stamp charges, property transfer fees, other utility transfer fees and realty agent fees among other such add ons.
  • It is important that you check if the previous owner has cleared all dues before handing over the flat to you so that you don’t have to pay additional charges.
  • Society membership also has to be paid, along with parking and other amenity charges which have to be finalised before buying.

 

 

Ways to purchase luxury flats in Bangalore

Bangalore is slowly becoming the rich man’s destination for living the high life comprising of not just all the basic amenities but also the very uber luxury ones like golf course within the housing complexes, swimming pools which have heated water for swimming at any point of time of the day and indoor sports complexes. The idea that the builders are trying to propagate is that one will not need to step out of their residential complex to access all facilities for which one would have to go a long distance earlier in the recent past. But all of this comes at a very premium price indeed, which most investors who want such apartments re willing to pay. There are lots and variety of options available for those looking for a unique 3BHK flat for sale in Bangalore.

Many builders are offering discounts on the account of early booking of such premium flats. They usually fall into a few of the following categories – ultra luxury, semi luxury, luxury and villas, the last of which are the highest of all categories.

1

There are a few steps that one must keep in mind before buying the uber luxury home in Bangalore. One of the most important tones is that you must always keep in mind that a few builders specialise in luxury apartments and a few builders do not. There are a few names which are famous all across the country on amount of their reliability and a few which are famous in the specific city they are in because they have made the customers in that city happy – to give you a few examples the names of Lodha group of companies, Indiabulls, Raheja constructions and Rustomjee are known for building luxury homes all over the country. Similarly, some names are known in cities like in Bangalore, there is the famous Brigade group of builders, in Kolkata there is the Merlin group of builders and so on. Thus, choosing the right builder is the first step.

Then, one must look at financing options and choose the repayments option that suits one’s budgets and rate of earning the best, say property experts at property.sulekha.com.

Then, one must choose the area carefully – luxury apartments need to be a little quiet and elite and hence should be located away from the din of the city.

Then, one must always check the quality of constructions and make sure the amenities being offered are also not neglected while they are being built in the colony.