Get Best Property Deal in Diwali

It’s time to celebrate festival season. Generally Diwali is the time when lots of real estate projects get launched. Builders and developers launch their new projects on Diwali because it is considered as auspicious and peoples are keener to more real estate investment during this festival. During festive season developer offers discount or attractive gift to attract property investors. Now a days peoples are more enthusiast to invest in buying properties during Diwali.There are several advantage and disadvantages in investing in properties during Diwali.

 

Property investors should be aware about discount offers and gifts offer by builder and developer because sometimes builders may take advantage of ignorant and unaware home buyers. Even tiny offers can cost heavy price. Gift offers like free foreign trip on buying residential flats are nothing but getting tricked. In such types of gifts you are paying more during the time of property booking. A discount offers is a discount only when there is a cut in the price per sq ft.

Following are some suggestion that may help you to get best property deals in Diwali –

•    Purchasing property in lifetime investment so proper planning of property and budget is must.  A well planned budget will help you in determining further factors.

•    After deciding your budget approach minimum 2-3 banks for home loans so that you can choose best option.

•    Make a list of a few builders and their projects. You may contact customers and their clients to know more about services offered by particular builder.

•    Find out information about the exact property rates.

•    Find out the details about the area of the property that you are willing to buy facilities such schools, hospitals and efficient transportation.

•    Check out property documents in case of resale properties.

•    Do not fall for attractive discount and gift offers because this may cause problem.

Be more careful while buying right property during this season of Diwali.Celebrate safe and Happy Diwali !!!

Demands for office spaces are stabilized in Pune

Pune ranked 8th top cities in India. Due to growing IT cities in India, there was high demand for office spaces from last few years. It has been observed that the rental demand for office spaces in Pune stabilized. Few locations are still in demand but overall result shows that situation has stabilized. According to total assimilation of office space will be around four million sq ft during 2012

C B Richard Ellis - a real estate consultancy company stated that existing vacancy levels and lower demands for commercial property have resulted in a sudden decline in supply addition in country.

Some areas of Pune such as Koregaon Park M G Road, Bund Garden, Dhole Patil, Kalyaninagar, J M Road and F C Road observed increase in transaction. The rentals have gone up in these areas from Rs 28 – Rs 30 per sq ft in 2010 to Rs 40 now. In some locations it is as high as Rs 60 per sq ft.Rates in areas like Hinjewadi are sky-rocketing.

Indian Real Estates from sector to industry

Real estate industry is one of the fastest growing sector in india.The annual growth of Indian reality is above 30%.Construction industry is 2nd largest employment generator in India. It holds a 5% share in the GDP development. Real Estate sector has contributed in the growth of Indian economy.

Conferring the status of ‘INDUSTRY’ to the Indian real estate sector may definitely benefit the Indian realty. The Government of India has sent out official notifications confirming this reform program. A proposal regarding Indian realty has been submitted to the finance minister. Government of India will form committee to assess the progress of this reform. This committee includes the urban development, finance and housing ministries.

The realty sector will make finance and loans easily available to the Developers at reasonable interest rates from the banks. Before few years, due to the lack of a developed identity, real estate was disadvantaged of the many such encouraging benefits. But now the realty sector attaining industry status, more such beneficiaries are on the mode to promote its growth and development.

Before investing in Pre-Launch Property

Sometimes loans from banks and housing finance companies to real estate sector have been on decline .This become sometime risky. Lenders are preferring to stay away from this sector even if the cost meets their margins. According to Jones Lang LaSelle, real estate consultancy firm in such situation real estate developers are looking to raise interest-free funds from the market by pre-launching their projects.

While demand for loans in the retail sector continues to be robust so the company is careful in its lending to the developer segment as it is impacting our net interest margins - V K Sharma, Director and Chief Executive, LIC Housing Finance

Pre-launch is a situation where developer informs broker and investor about availability of properties in a particular project that has not been officially put on the market yet. This is spread spreads by word of mouth, but does not mentioned on the developer's website or other marketing media.

Investing in property at pre-launch stage can be anything between 5-20%. It depends upon various marketing factors. However, investors must keep in mind that such project may not have received all required approvals or may not be cleared for home loan approvals by lenders. So, buyers of pre launch property need to check all approval and permission before investing.

Another risk in investing in pre-launch property is that project may be delayed or if developer is unable to raise sufficient funds.

Before investing in pre launched property investor must check following things –
•    Confirm that builder has free and clear ownership of the land on which the project s going built.
•    The pre-launched project must have an Intimation of Disapproval (IOD).It is a set of rules that a developer must obey with so that he can legally construct the building. The IOD is valid for one year and needs to be reissued if the project has not been completed in a year’s time.
•    The project must have a commencement certificate in place.

Hike of 40 per cent in Hyderabad Commercial Property Market

Hyderabad commercial real estate industry again on focus of developers. It has been found that there is around 40% hike in HITECH City and Gachibowli areas of Hyderabad. Developers are interested in developing commercial property in this city.

Most of developers are attracted towards commercial spaces because of continuous rise in property rates  in  Begampet and Komapally areas.Accroding to Omar Farooq, senior sales manager, Modi Builders, Hyderabad –“The Hyderabad real estate market in Gachibowli and HITECH City are still affordable as compare to other cities so that they are able to attract IT companies. ”.The other reason is that most IT companies need more office spaces as they are expanding fastly.

Hyderabad to be priced about 30 per cent lower as compare to other IT cities in India. The Hyderabad city today has several IT majors for suitable areas to set up business. These include IT services, BPOs and several large MNCs.The environment of Hyderabad is also favorable for setting up large facilities.

The commercial real estate has positive impact on the residential sector as well. Numerous residential complexes are being planned close to these areas. The prices of residential flats in the surrounding areas are extremely competitive. Hyderabad real estate market has higher growth in the apartment segment the safety and security issues taken by developers. The residential areas of Hyderabad are close to commercial spaces. It makes travel easy. This also contributes to the growth of office space.

Register your property at ease

Mumbai:

 It is good news for property owners to register their property. A facility has been introduced that allows virtual registration of document.Before this the time frame for registration of properties was 10 am to 5 pm. But from now it is possible for property owners to register their property between 7 am to 9 pm.Two news offices will be soon inaugurated in Worli which will have provisions to record properties between 7am-9pm.

Before introducing this rule the time constraint was acting as a barrier for the daily office-goers. Because office-goers had to skip work to register their property. But now it will be possible for them to register their properties without leaving their work.

It is expected to get 3 more offices in Mumbai to make effortless the burden on the existing registration avenues. Almost 2 lakh property registration is expected to be done annually in these offices.

Decorate Your Living Room Smartly

The living room of our house is most important factor that reflects our complete lifestyle. The look of your living room point out your personality and behavior. That’s why the interior of living room should be given serious thought. A living room is not only for welcoming place for guests but it is the core place in our house where family members let themselves to loose, relaxes at the end of the day. It is place for chit chatting over tea, reading a magazine and much more activities. So it is important to decorate your living room stylishly and creatively.

Following are some tips to enhance your living room –

• Decorating living room doesn't mean overloading it with accessories. You need to plan the look of living room. First decide style and necessary accessories and then go for shopping.
• Before shopping of living room accessories you need to consider the size and shape of living room.
• If your living room is small then use soft colors. Bright colors are suitable for big living rooms. Otherwise you may color one side of the wall with a bright color and the remaining sides with softer shades of the same color.

• You may think of other pioneering ideas for decorating the walls instead of putting frames on wall.
• Cartons have contribution in the look of the living room. Keep in mind the color of walls while choosing colors of cartons. You may choose contras color combination.
• There must be proper arrangement of furniture and sofas. There must be enough space for roaming freely.
• Having a vase full of flowers, Hanging a wind chime will add soothing effect to your living room.
• You can save a lot of space in the living room by foldable dining set and sofa set