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For Amazing Buddhist Temples to Visit on Your Trip to Thailand

2015-10-27T12:07:00.000+05:30

Buddhism is indeed a very tranquil and peaceful practice. Buddhism has created a musical effect to the entire country. Their temples are very important to the people and consider Buddha to be a source of enlightenment, good fortune and good health. The monks of the Buddhist monastery are also frequently approached by the people for their advice and counsel. It is also customary for the boys to ordain themselves as monks for a certain period of time and live within the temple.

In understanding the history of the country, we should also be privy to the fact that Buddhism is no young practice in Thailand. It was introduced as old as about 2200 years ago; a time when, Ashoka the great emperor of India sent monks all over the world spreading the mysteries and holiness of Buddhism. The Buddhist temples here are referred to as 'Wat'. This also means the temple complex, which contains the several parts of the temple, like the Viharn, Chedi, Ubosot, etc. Here are the Top Four temples That You should not miss on your visit to Thailand.

The Wat Phra Kaew

This temple of Buddha is considered as the most sacred temple and is also an important pilgrimage site to the Thai Buddhists. The temple is also known as the 'Temple of Emerald Buddha', and is located within the grounds of the Royal Grand Palace in Bangkok. The emerald Buddha is found in the Ubosot or the ordination hall.

The Emerald Buddha image depicts a Buddha clad in an attire of Gold and precious jewels, seated on a raised flamboyant alter.

This is a very revered temple and there is a strict dress code for all people, locals and tourists alike. Long pants, long sleeved shirts and long skirts are a must. You will need to remove your shoes prior to entering the hall, as in all the Buddhist temples. Do not disturb any worshipper inside the temple by making loud noises.

The Wat Pho

Also known as the Temple of the reclining Buddha, this image of a 46 meter long reclining Buddha is a pretty famous and attractive temple in Bangkok. Located in the immediate South of the Royal Grand Palace, this temple is also a must visit.

Lovingly called the Wat Phra Chetuphon Wimonmangkhalaram, this temple is one of the six high graded Royal First Class temples in the country. It is the oldest and the largest temple in Bangkok, housing more than a 1000 Buddha images.

The Gold Plated Reclining Buddha is 46 meters long and 15 meters high. The soles of the Buddha's feet measure 3 meters in height and 5 meters length. Mother of Pearls are inlaid in several segments of the feet. This image represents the passing of Buddha into his final Nirvana after his last breath.

The Wat Phra Pathom Chedi

'The Holy Chedi of the Beginning' as the name implies, is one of the oldest temples yet in Thailand and is found in its oldest city Nakhom Pathom. The Orange roofed Chedi or stupa is a very impressive structure and is visible from far away. Standing to a towering height of 120 meters, this is the largest Buddha Chedi in the entire world.

Some say the temple is as ancient as the 3rd century BC, when Buddhism was introduced in Thailand. Its Chedi is modeled after the famous Sanchi Stupa of India.

The temple is open from 7 am to 8 pm and the entry and the Entry Fee is 40 Thai Baht.

Wat Mahathat Worawihan

This great Wat is a Royal temple that features its five highly massive Prangs. Located in a busy old district of Phetchaburi town, this Wat is considered to have been founded over 8 to 10 centuries ago.

The Highlight of the temple is the five prangs that it proudly peaks over its structure. These massive prang also known as the Phra Prang Ha Yod stand at the center of the courtyard of the Wat Mahathat. it is surrounded by 4 smaller prangs, the tallest of which stands over 40 meters and enshrines the Relics of Buddha.

Impact of property price slump in Delhi

2015-10-27T11:47:00.000+05:30

It has always been a dream for any prospective home buyer to own a residential property in India’s capital – Delhi. For many years, property developers had a great control over the real estate market in the capital city. The pricing was more when compared to other parts of the country and in spite of it there was a great demand. But the whole situation has turned upside down now. Fortunately or unfortunately, there are more residential units waiting to be occupied in the capital city. This is because neither the property developers are willing to bring down their selling prices nor the home buyers are willing to pay the asking values. As a result, Delhi real estate has reached a stalemate situation as no transaction is taking place.
To ease the situation, either the government is expected to take an initiative to increase the confidence of the home buyers or the sellers expected to relax their stand and lower their selling prices. Since nothing is happening at the moment, the residential realty market in Delhi is beginning to crumble.

New project launches have dropped down to nearly sixty percent in the first half of this year itself while the sales of such properties have dropped down to a massive fifty percent during the same time period. The slump in new project launches and sales clearly points out the resistance of the buyers towards highly-priced and unappealingly priced units. According to recent reports, there are nearly one lakh eighty thousand unsold dwelling units in NCR alone and at this pace of sales it is expected to take nearly five years to sell them all. This demand-less situation has in fact driven property developers to look for ways to exhaust their present inventory in hand instead of constructing new ones and blocking their finances by investing on them.

NCR was an investor’s marketplace once upon a time when there were more takers even if the property developers hiked their property values artificially. With buyers becoming wary of making purchases instinctively, distressed sellers are providing discounts from twenty to thirty to percent to recover the money that has been blocked as apartments in Delhi. But this bait has not lured investors since they too do not want to invest their hard earned money in projects that are going to appreciate at a very slower pace. Many are even extra cautious to buy clean and non-controversial projects. Some of the suburbs where the values of flats for sale in Delhi have dropped include Dwarka, Mayur Vihar and NCR.

Since realty market drives the economy of the country, experts are of the view that the situation will ease soon. The socio-politico scenario too is getting better with the rule of a stable government in place. In addition to it, the focus is more on infrastructure and land development that many believe that it would stimulate the demand. Increase in salaries and lower EMIs will be a reality in the near future whereby increasing the buying capacity of individuals too.

Independent house or apartment? Choice is yours

2015-10-27T11:24:00.000+05:30

Given a plethora of choice, it is natural to get confused. Deciding between purchasing an independent house or apartment is one such case since they come in a variety of designs, layouts, facilities, budgets and sizes. Bangalore city even though thickly-packed with houses, villas and flats has never let down its residents when it comes to comfortable and peaceful accommodation. It is easy to find a living space suitable for all, but it is you to make the pick the type of housing unit, in your preferred area.

Apartments in bangalore are highly sought after for various reasons. Security is one of the primary reasons that has influenced buyers to purchase flats in this city. Almost all apartments are guarded well by security personnel ensuring safety to the inmates at all times. This metro encourages community living where families share a community park, hall, children’s play area, jogging track, gym and many more. Inmates enjoy celebrating festivities of different customs in common and appreciate each other’s interests and hobbies. Children growing up in such social conditions learn more than one language that helps them do well in all spheres of life. When compared to independent houses, apartments come at a reasonable value even if located in a well-developed area; nearby schools, hospitals and colleges. Apartment occupants can also stay relieved from repairs if any that might arise during their occupancy period as the maintenance staff apointed by the building association attends to the problem and resolves in no time. Loans for such buildings can also be easily obtained without spending much effort and time as most of the constructors have tie-ups with leading banks. Buyers can even have their flat modified according to their needs if booked during the early stages of construction.

Independent houses have their own merits. Buyers have the freedom to make decisions at all levels of construction be it planning, interior and exterior designing or altering the structure at a later date. Pet lovers can raise their pets without having to worrying about the displeasures of others. The same way the need to share a common wall with others will also be eliminated. Since land prices keep appreciating whereby increasing the value of the building, owners can stay assured of their investment fetching good returns if they chooses to sell the property at a future date. Independent house for sale in bangalore is a big hit espcially among gardening enthusiasts as it helps them unleash their creativity at its best while flats for sale in bangalore are favored by gregarious souls.

This is not all, there is another option too known as the ‘Villas’. These structures combines the benefits of both independent houses and apartments especially when it belongs to a gated community. Not only do they provide a secured living space with all desired amenities at a nominal value but also provide the much required flexibility of modifying or extending the living space. Certain projects even come inclusive of shopping malls and banks inside the campus that these types of villas are a big hit among affluent and elderly segment too.

The Real Estate Scenario in Sarjapur Road Bangalore

2015-10-16T12:00:00.000+05:30

One of the fast-growing suburbs around Bangalore city is Sarjapur. Located in the south east of the city, this locality is now the hub of IT companies and manufacturing industries. The growth of IT and IT-based companies in this area has led to the spurt of development of residential flats and apartments. This is because most of the people who come to work in these companies are not natives of this city, but come from all over the country. So, all of them are looking for hostels, PGs, and houses for rent. They prefer to look for a place that is close to their company as it reduces the daily commute. Moreover, the cost of living in this suburban area is less compared to living in the city.

Let’s take a detailed look at the real estate scenario in Sarjapur Road Bangalore. If you are looking at the availability of commercial space, Sarjapur has plenty to offer. There are ample number of Grade A offices suitable for large companies. Plus, there are many commercial building projects in the pipeline. The biggest advantage for real estate development in Sarjapur is that there a lot of space to move. Buildings, either residential or commercial, cannot be constructed unless there is space. With the spaces in the city and the other suburban areas slowly filling up to the brim, the overflow is gradually moving towards Sarjapur road.

IT companies like Cisco, Wipro, HP, Cape Gemini, Accenture and Infosys have their offices in this locality. These companies have brought with them an influx of new residents. There are nearly 2 lakh employees working in these companies. So, there is a demand for 1 BHK and 2 BHK homes in this area. The emergence of the residential areas have also led to the growth of hospitals, malls, shops, banks, ATMs and other types of commercial establishments.

As the property values in this area is affordable when compared to the other parts of the city, many of the employees are even purchasing property instead of just going for rent. Taking into fact that Sarjapur has a sharp appreciation value, investors are confident that they will get good returns on their investment.

Connectivity is one of the most important reasons for the development of this locality. Located on the Outer Ring Road, Sarjapur can be easily accessed from the city or other suburban areas. Plus, it is easy to travel to Kolar, Hoskote, and Hosur (to Tamilnadu) via the National Highways. So people who have come from other states or other parts of the state find it easy to travel to their home town.

Statistically if you check the real estate in Sarjapur, you will note that it has seen an appreciation of nearly 7 percent over the last year. The property value has also been steadily increasing over the years. On the whole, the real estate scenario in property in Sarjapur Road Bangalore looks promising. With many construction projects in the pipeline and the development of the IT clusters, this place is sure to develop further in the coming years.

Top Builders in Tambaram

2015-10-16T11:56:00.002+05:30

The real estate boost in Chennai brought with it a number of builders, developers and construction firms. There are some firms that were started with professional backup and run like corporate companies. You will also be able to find construction firms in Chennai that were started by people who are already in the construction business for generations. So, the company is run like a family enterprise. It doesn’t matter what type of company the firm is, what matters most is their reliability, performance and track record.

If you are planning to buy a constructed property in Chennai Tambaram, then check out these building firms. It is always good to go for a reputed firm that has completed a few projects in the city. Then you will be able to check out the track record of their previous projects to get an idea of how they work. Let’s take a look at five of the well-known builders in Tambaram area.

Amarprakash Developers

Established in 2004, this building firm has been actively involved in constructing huge apartment complexes in many parts of the city. One of the top building firms in the city, Amarprakash Developers Private Limited has many completed projects in its kitty. This firm believes in using advanced technology to deliver quality results to clients. Some of its current projects are The Royal Castle and Palm Rivera in Chrompet, The builder is also working on a huge project named Temple Waves in the same locality.

Brownstar Developers

With more than 2 decades of experience in the construction industry, Brownstar Developers have created many landmark destinations in the city. The construction firm takes care of everything from designing the residential building to getting all the relevant certifications and constructing it. Some of their completed projects include commercial and residential buildings in various parts of the city. Currently, this firm is constructing an apartment complex in Tambaram.

Adroit Urban Developers

Established by Gaurav Goenka, Adroit Urban Developers is one of the top builders in this locality. Originally from the garment industry, Goenka expanded into real estate and set up the construction firm. The company believes in providing high-quality results on time, every time. This builder has not just constructed buildings in Chennai, but in Coimbatore as well.

Agni Estates

Agni Estates is a real estate and construction company that was established in 1992. The years of experience have brought with it the knowledge and expertise to provide the best service to clients. Its current project in Tambaram is a huge apartment complex named Shree Lakshmi. This builder also has projects in Perungudi and Ambattur.

Pace Builders

Having constructed buildings over 10 lakhs square feet of lands and planning to construct on 20 lakhs square feet of land, Pace Builders is a popular building firm. The construction firm believes in using the state-of-the art equipment, specialized workforce and modern technology to ensure the best results are achieved. This Chennai-based property firm currently has two ongoing projects, one in Seliyur and the other in Tambaram. Pace Builders is also working on a project in Anna Nagar, Chennai.

Booming news for buyers - Price drop of properties in South Chennai

2015-10-07T15:46:00.000+05:30

For people living in South Chennai who are looking for investing in real estate this is the prime time. With the recent drop in prices the cost of real estate has really climbed down making it the opportune moment for people who want to invest in the market. The government’s new policies have made buying property a lot easier. Now you will not have to go through all the complicated paper work but you can get the process started and get your dream apartment in a seamless process.

Why you should invest in real estate

The city is still growing and most of the development is happening on the south section of the city. The major education institutions are located in the close vicinity and this makes south Chennai one of the best places to live in. In terms of living standards, the city ranks as one of the top cities of the country. The city has been going through a sharp rise in property market for the last decades. This is the first time that the place has seen such drastic drop in property market. This is mainly due to the new policies of the state government. A lot of new housing complexes are coming up in the recent months and that has also helped in pushing the price down because of the competitions. You can get the best deal if you by an apartment in one of these housing complexes because they come with all the modern amenities and luxuries. Due to the increase in the competition the developers are selling the apartments and other similar property at a much lower rates than normal. You will be able to get a flat with all the luxuries like swimming pool, gym and other similar facilities and it will be perfectly within your budget. Depending on how much you are willing to shell out, you can also get studio apartments and low budget apartments.

Things to look out for

When you are going to invest in some real estate in and around South Chennai you will have to be careful in some areas. You will have to find out how well connected the place is. There are many different modes of transportations that are available in the city and the metro link is one of the major mode of transport. So places in around the metro stations are priced much higher than the rest of the places but even the price drop has affected the price of these regions so you will be able to get a place without much hassle.

You will also have to talk with the previous owner if you are buying a secondhand property in chennai and find out if there are any kind of problems associated with the infrastructure. For buying a brand new apartment you will have to talk with the developer and find out all about the facilities that are available. Depending on the location you can get a very good deal if you decide to purchase now.

Devanahalli-One airport and a whole lot of development

2015-10-07T15:06:00.000+05:30

Rewind back to 2000 or an earlier year and you would not have wanted to live in Devanahalli. It was a typical peasant’s neighbourhood where roads never existed and water scarcity was always rampant. But times change, especially in real estate they change at the speed of light. That is what happened with the property prices in Devanahalli when the Kempegwoda International airport commenced operations in 2008. One airport and Devanahalli has made itself amply visible in India’s fastest growing IT city, Bangalore.

Reaching Devanahalli

Devanahalli is located on the northern part of Bangalore, almost 35 Kms from city centre. Quick way to reach is through the NH 47, also known as the Bangalore-Hyderabad Highway or the Bellary Road. Further, NH 7 and 207 also snail through this village bring the metro close like neighbourhood.

NH 7 from Hebbal to Devanahalli with its 6 lanes roads (to be increased further in the near future) makes it possible to reach the airport within thirty to forty minutes. With the execution of the metro Phase 2 plan, Devanahalli will also have metro connectivity to airport.

Devanahalli’s growth story

The land rush at Devanahalli began with the signing of the MoU between AAI and KSIIDC in 2005 to build the Kempegowda International airport. By the time the first phase was completed in 2008, almost every inch of land in Devanahalli was taken over by real estate promoters and developers for manifold times of the original prices.

Per acre cost of Devanahalli was a humble number in 1990s. Come 2008, the price shot up to Rs. 250/sq.ft and today it is almost 1500/sq.ft. Most promoters are yet to commence construction here, but it is definite that the prices will skyrocket further higher.

Residential and industrial development

The many industrial parks present in Devanahalli are sure to boost the residential and commercial development in the region. Three more parks exclusively for hardware, aerospace and IT/BT are proposed in the region which will boost residential development and industrial activities in the region. NH 7, NH 207 and NH 4 will provide ample road connectivity without any traffic bottlenecks.

250 acres of land are set aside for developing the M.S.Ramaiah Medical Research Centre to cater to the educational requirements of the city as a whole. Schools, colleges and other social infrastructure facilities necessary for comfortable living are also adequately present in Devanahalli.

Housing at its best

Bangalore enjoys a high concentration of HNIs (High Net worth Individuals). Devanahalli also enjoys huge demand for high-end living facilities from the senior management cadre employees of the IT industrial corridor. With sophisticated tastes and an appreciation for serene living they are one reason why the land values in Devanahalli has shot up in such short time.

The demand for affordable housing is also very high. Patel Neo Town, VBHC Attibele, Sovereign Lakefront, Provident Welworth are some of the affordable residential projects in the region. Golden Gate Properties, Purvankara, Shriram Properties, Brigade Group, Ozone Group, etc. are some of the high flying names in luxury housing that are creating the upper class living ambiance in Devanahalli.

The right time to invest in Devanahalli is now. There was no better time in history or will there be in the future when property prices have been so inviting for an aspiring homeowner.

Pratheepa writes for indiaproperty.com, a leading online portal dedicated for real estate sector in the country. It provides property marketing solutions for buyers, seller, and real estate agents.

Real estate prices shoots up high at Mumbai Virar

2015-10-06T16:57:00.000+05:30

Virar is a part of the Mumbai Metropolitan Region and Vasai-Virar Municipal Corporation. The exorbitantly high prices of properties in Mumbai city as made real estate boom in the suburban regions. The northern suburbs such as Virar, Vasai and Nalasapora has marked several residential investment in recent days owing to the affordable process of properties in these areas. For middle-class people who need to spend a large investment to buy an apartment in Mumbai city,

Virar and other suburbs offer 1 and 2 BHK apartments at affordable ranges. But as the demand for housing have become very high in recent days, the property prices in Virar is also witnessing a considerable amount of hike in recent days.

With a huge residential demand and developing infrastructure, Virar is expected to be the future investment destination near Mumbai. The Vasai-Virar region is seeing tremendous economic and infrastructural growth in recent days and if this development continues, then surely this region has the potential to become a city on its own. The real estate in Virar is also developing in all spheres including residential commercial building. For those who wish to buy an apartment in a pollution-free locality away from hustle and bustle of Mumbai city without sacrificing on modern lifestyle, Virar is an ideal bet.

Several new proposed projects such as 126-km Virar-Alibaug multi-modal corridor project by the MMRDA connecting the regions by road and by metro, changing the existing internal road into a four-lane road, elevated rail corridor between Churchgate and Virar, and many more in pipeline contribute to the rising realty prices in Virar region. Virar also has various educational institutions, restaurants, shopping complexes, and beach resorts.

The prices of properties in Virar is moving in an upward direction in the price chart constantly. The prices of property in Virar has shown a rise of up to 10% in just one year of time. Also it expected to rise further in the coming months due to high demand form the population. When you compare the property prices in Virar in the last five years, you can visibly notice a constant increase with year from the previous years. The prices have rose not just from one year to the other, but also within each quarter of the same year at least by a small percentage. This clearly shows that realty prices in Virar has been increasing for off late and this price trend will continue in coming years as well. So if you are planning to buy a property or apartments in Virar, this is the right time to invest. Because in another 1 year of time, the property prices may increase another 10% fetching high return of interest for people who have invested this year.

Real estate investment in Kondapur and Miyapur

2015-10-06T16:51:00.000+05:30

The real estate market in Hyderabad is catching up pace providing tough competition to other metros in the South. Many corporates and real estate investors are interested in investing in Hyderabad quite some time now. The main reason behind the revival of real estate in Hyderabad is that both commercial and residential real estate is economical in Hyderabad, which lures investors and buyers. The residential capital value here is lesser than that of other metros. With several already existing IT corridors along with several other IT giants to set up their campus in and around Hyderabad, the real estate here is gaining momentum. Many suburban area of Hyderabad are now flourishing in both residential and commercial real estate such as Kondapur, Miyapur, Gachibowli, Kukatpally and Manikonda.

Real estate in Kondapur

If you are looking for affordable properties with a good appreciation and return of interest, then Kondapur in Hyderabad will be a wise choice. It is emerging as a popular residential hub in Hyderabad. Located closely to the busy business districts of Hitech City and Gachibowli, Kondapur micro market is turning into the most preferred investment destination.

Kondapur is located in between three major roads Old Mumbai Road, Gachibowli-Miyapur Road and Hitech City Road making it easily accessible from various parts of Hyderabad. It is also bridged to the Mumbai Highway via Gachibowli-Miyapur Road. The nearest railway station is the Hitech City railway station, which is about 7 km away from Kondapur. Its infrastructural development is also satisfactory with various reputed schools, international schools, colleges, hospitals, banks, shopping centres, and entertainment with various parks and botanical garden.

The residential capital value of Kondapur ranges between Rs.2500 to Rs.3800. Kondapur also yields high rental values when compared to its neighbouring localities.

Real estate in Miyapur

Miyapur is a part of the municipal corporation of Greater Hyderabad. For people who search for modern lifestyle outside the city limits or in suburbs, Miyapur is an ideal location. It is a scarcely populated area with moderate amenities. But its close proximity to the IT corridor in Hitec City makes it an ideal investment destination for professional population working in the nearby IT companies. From plotted developments to large attractive apartments, Miyapur provides all sorts of investment options to buyers. Talking about the social infrastructure, Miyapur has a good number of schools, hospital, banks, shopping centres and restaurants. So ideally people who work in nearby IT and public sector industries prefer to buy plots or apartments for sale in Miyapur.

It is also well connected to other regions in Hyderabad by public transports and also has the Hafeezpet railway station at just 3 kilometres away. Moreover people in this region does not face any water scarcity or electricity issues.

Affordable prices of apartments in Miyapur have also made it a wise choice among the population. You can buy a 2 or 3 BHK apartment for Rs 30 to 45 lakhs with capital values ranging from Rs. 2600 to 3800, which is very reasonable when compared to other suburbs of Hyderabad.

Increasing demand of real estate companies in North Bangalore - know why

2015-09-30T11:14:00.001+05:30

Real estate is a growing industry especially when you consider the outskirts of Bangalore. North Bangalore is one of the major hubs of activity and this is the main reason why the demand for real estate has sky rocketed in the recent years. You will be astonished by the jaw dropping price some of the brokers will quote for a mere 2 BHK apartment. If you are thinking about moving in this part if the city or going to buy some property here, you will have to do a lot of market research before you take the plunge.

Things that you will have to keep in mind

The first thing you will have to understand is that the north is still the one area where the Silicon Valley is growing. Compared to the rest of the city, there are still land available in the northern part of the city. You will be able to find property in this part and some of them will eventually meet your budget. If you are looking for some residential apartment then North Bangalore is one of the first place you should start your search from. The regions around Hennur Road and Devanahalli are some of the best place that have gone through some real estate developments in recent times. Since there are still vacant lands available in these regions, you are more likely to find a place to stay than any other place in the town.

The kind of property you want to invest in

In terms of resale value and the available infrastructure, this is also a region which makes top priority for people looking for investment in real estate. There are all the modern amenities available in north Bangalore. You will be able to commute by the high speed Metro rails that has come up in this region. Most people who decide to live in Bangalore is because of the IT industry and you will need to commute from your office if you are working for a private sector. So getting a well-connected place should be the highest requirement when you are going to buy a residential apartment. You will be able to use the Metro rail and the mono rail links to get to the hub of the city where all the major corporations are located. This is an important factor when you consider the price of a real estate. The apartments or buildings located in close vicinity of a metro station will be priced much higher that the ones that are located in the interior. This does not mean you cannot reach the metro stations from the interior regions. The whole of north Bangalore is well connected by the metro link and there are more new projects which are coming up. It only means you will probably have to take some transport to reach the metro station and then avail the metro. If your priority is getting a place that is well connected, you will have to be prepared to shell out more.

Author Bio:Pratheepa is a professional content writer from Chennai who has a keen interest in researching and writing on the realty trends of the country. She currently writes for indiaproperty.com.

Nepean Sea Road - An address to flaunt

2015-09-22T16:09:00.000+05:30

Mumbai is an aspirational city to live in for most Indians. The reasons are plenty that to list them down will form an entire blog article by itself. But there are three prime reasons why Mumbai is most sought after:

It is where dreams (most) come true.
It is the starlet of Indian cities (Think Bollywood).
Being recognized as a Mumbaikar (heavenly).

If there is one place where the living experience of Mumbai can be closely related to, it will be Nepean Sea Road. Think of waking up to the sound of lapping beach waves. Waves crashing across golden sands and a view that extends far beyond into the unknown horizon is what makes Nepean Sea an aspirational residential address for Indians.

Located close to Malabar Hills, Nepean Sea Road is where the aristocrats of Mumbai would dream coming home to. Living in South Bombay itself is a thing of pride. SoBo is a metaphor most Indians will not understand. But a Mumbaikar knows what kind of power and influence a resident of SoBo will possess.

Owning a luxury 3 BHK apartment in Nepean Sea is quite an accomplishment for any individual. The region since its olden days has been brimming with business towers. Even today, Nepean Sea Road is a place where one can find most of the top corporates of India having their headquarters established. Hence, there is plenty of job opportunities floating around in Nepean Sea Road from where one can chart out a new life.

Not just a career, Nepean Sea Road has major sports clubs within its vicinity where your sportsman attitude can be polished to finesse. Join the Willington Sports Club, Bombay Gymkhana or watch speeding horse races at the Mahalaxmi Race Course. Living in Nepean Sea neighbourhood these sports complexes are just leisurely walk away.

As a parent, your child’s education is available literally at doorstep. Nepean Sea Road sets the right ambiance where your child can progress socially and intellectually with world class training from reputed educational institutions like Orchid International School, Bombay International School (BIS), Gopi Birla High School, etc. all located in immediate vicinity.

Commuting in Nepean Sea Road is a leisure activity. In addition to the smoothly paved roads which are completely gutter free, you also get to ride alongside almost every brand of luxury car in the world. A life amidst the richest Indians is a thing you can take for granted in Nepean Sea Road.

Coming to public transport, the region is blessed with a well-established network of roadways and railways which reach out to almost every notable destination in the city. The Western railway also offers great connectivity within Mumbai and South Mumbai. There is an efficient private system of transport consisting of taxis and rickshaws which you can rely on for a less than luxurious way of transport.

Undoubtedly, Nepean Sea Road is one of the mist affluent residential regions in Mumbai and whole of India. Capital appreciation of properties is estimated to happen in multiples of five or more given the swanky location and facilities in the region. A short stroll around and you will know how comfortable, liveable, luxurious and magnificent living in Nepean Sea Road is. The waves await your homecoming.

Shailja is an Indian housewife who loves to write on Real Estate. She is a regular contributor to the columns of many property magazines and also IndiaProperty.com

South Chennai Sees Maximum Residential Building Projects This Year

2015-09-22T15:55:00.001+05:30

Where there is demand, there is development. With a huge demand for residential areas in Chennai, places throughout the city have been sited with new projects. Among all the favored locations, the areas in the southern part of Chennai are seeing tremendous development. Localities such as Medavakkam and Pallikaranai are in the top of the list of targeted places.

The executive vice president and zonal head of DLF Home Developers Ltd, Mr. K. K. Raman shares his views about the development in south Chennai. He says," If you see the center of activities, south Chennai hogs all the limelight today. This will continue to do so, as the scope for growth in the region is immense." He also added, "Just 10 years back, Tambaram was considered as the end of Chennai but now thanks to the extensive transport facilities and numerous educational institutions, the region is one of the busiest areas of the city. With the introduction of metro, the real estate scene of South Chennai will undergo rapid evolution."

In the current year, about 60% of the residential constructions have taken place in south Chennai while the remaining was split between north and west. The Grand Southern Trunk (GST) Road and Old Mahabalipuram Road (OMR) have seen the maximum growth in the current year. Huge construction companies such as Akshaya and Purvankara launched their new projects in Pallavaram, Perumbakkam and Kelambakkam. With the city’s limit being extended farther, vicinities in south are more concentrated than the heart of the city. Just as the central and north parts are being crowded, it is only natural that the residential growth will be concentrated on the less dense southern parts of Chennai.

The growth of IT companies and industries is one of the prime reasons for this rapid and steady advancement. Blooming companies in Velachery, Madipakkam and other areas encouraged working professionals to settle down nearby. Entertainment and recreational amenities such as malls, theaters, clubs and resorts located nearby, allow families to spend time together on weekends. Presence of renowned hospitals, restaurants, banks and other essentials are added advantage. Furthermore, availability of excellent schools and colleges nearby make these areas suitable for families. Rich cultural activities with presence of famous temples, churches and mosques also make a strong case.

Excellent connectivity via roadways and railways provide an easy and smooth connection with the city’s interior. High frequency of buses, trains and recently added metro trains allow you to navigate through places with great ease. Peaceful environment and friendly neighborhood make them the much preferred localities real estate in Chennai.

Affordability even with high facilities in par with main city makes south Chennai a favorite among everyone. With the price value remaining reasonable, real estate companies are launching multiple projects targeting middle class people. Projects ranging from 25 lakhs to 1 crore will be perfect for families of any financial background.

To sum it all, with the future of industrial and domestic development concentrating on the southern part of Chennai, these areas will be experiencing exponential growth in residences.

Ghodbunder Road in Thane is the new realty hotspot

2015-09-15T15:54:00.004+05:30

Ghodbunder Road in Thane has opened up new venues to many home buyers who are looking for pocket-friendly homes. In spite of the swift infrastructure developmental activities in and around this place, it has managed to remain nominally priced. People who have been watching the developmental activities in Mumbai are well aware of the fact that Thane has grown from one of the small suburban towns located at the peripheries of Mumbai to a metropolis that can take care of its needs all by itself. This place with integrated townships, expansive flyovers, broad roads, high-rise structures and uninterrupted highways has attracted both property developers and buyers that it has boosted the whole realty scenario.

Ghodbunder Road is nearly twenty kilo meters long linking the Eastern Express Highway and the Western Express Highway, the two arterial roadways of Mumbai City. The Western Express Highway is the one that begins at East of Bandra and turns into the National highway heading towards Gujarat, while the Eastern Express Highway begins at Sion and ends at Thane. Apart from offering swift access to various small-markets such as Ghatkopar, Bhandup and Mulund, this road route enables reaching Mira road from Thane in no time.

In a move to further more improve the locality’s infrastructure and connectivity facilities, development authorities has decided to come up with a monorail network that would act as a supportive service to the proposed Metro project in the region. The Metro corridor is believed to extend from Kasarvadavali to Wadala on the Ghodbunder Road. Residents are less likely to face traffic woes. Thanks to the Kapurbawdi Flyover that has been put to use to ease traffic congestions. With quick development in the cards and availability of huge land layouts, this area has received the attention of various reputed property developers. Puraniks Builder, Vijay Group, DS Group, Runwal Group, Harmony Lifestyles Group and Rosa Group are some of the property developers who are already present in this region. Due to this, the probability of finding a wide array of housing choices ranging from one bedroom apartments in thane to duplex bungalows has increased considerably.

Ghodbunder Road is also witnessing more commercial activities. Needless to say that, this area is mushrooming with more malls, retail outlets, banks, showrooms and corporate offices. MGM IT park is supposed to be one of the major business centers to begin its operations soon. Observing the prevailing situation in Thane near Ghodbunder Road, realty experts firmly believe that the prices of properties in Thane to appreciate by nearly seven to ten percent. At the moment, the worth of newly built multi-storey apartments in thane range from Forty lakh rupees to two and a half crores while the average property values are found to be in-between eight thousand and ten thousand per square feet range. When compared to the capital values of properties situated in the middle of Thane, the worth of the properties situated near Ghodbunder Road in thane is very insignificant. No wonder, property buyers are eager to grab their share of opportunity before it is too late.

Steps for hassle free registration of a property

2015-09-15T14:52:00.000+05:30

Property registration is the final agreement between the buyer and seller. In India, registration of a sold property is mandatory by law. The government and the law will not cover any legal issues or otherwise faced by the owner if the property is not registered in his name. The law will not recognize unregistered owners to a property even if they have paid in full. This is specified by law to protect the land owners. A person acquires rights to the property only after the sale deed is registered.

The registration process of a property happens at the respective Sub Registrar office of the locality in which the property in question is located, be it rural or urban area. The following are the procedures associated with the land / property registration in India.

Title Verification:

Though not a mandatory process, it is highly advisable that any prospect owner gets the title of the property duly verified by a person practicing law. The buyer has the right to demand for the photocopy of the documents related to the property for verifying the title by a lawyer or a civil consultant.

In most cases, if opting for a home loan, the bank or the financial institution will check the title and only then issue the loan. If the title is not clear of issues, the loan will not be issued. However, it is the responsibility of the buyer to authenticate his purchase even before making the payment.

Sale Deed:

The sale deed has to mention all the specifics related to the property. If the land has any construction on it, the exact specifics have to be mentioned at length. The preparation and attestation of the Sale Deed is done on proper stamp paper by an authorized attorney. The buyer will have to bear the stamp duty and the amount varies based on the locality.

At the Sub Registrar:

Locate the associated sub registrar office with the help of the seller, developer or the person preparing the sale deed. Get a prior appointment from the authorities and stick to it. These days, the computerization means you are given a token number for your appointment. Do not miss it at all costs!

Document Submission:

A thorough verification of the documents is done by the sub registrar and the registration process is followed to the T as per the Registration Act of 1908. Post registration the documents can be collected in person by the owner after signing a dispatch register at the desk. If the owner is not present, a letter of authority (also attested) can be given to a related person.

Title Mutation:

Once the registration is completed, the title of the property becomes the property of the owner. The owner can then get the title of the property transferred (or in this case termed as mutated) in his name at the local Municipal authority.

Without the legal registration of the property you will not be entitled as the owner so register as soon as the payment is made.

About the Author:

Frank is a retired service man who loves to impart his knowledge on property investment through sites like indiaproperty.com

Does real estate price in Delhi NCR increases?

2015-09-11T10:54:00.000+05:30

The real estate market in Delhi have always been very volatile in the recent past due to supply and demand dynamics. If you have bought a flat in Delhi in the last quarter of last year, then you maybe a lucky one as it was the best time to buy a house in Delhi. During last quarter of the year 2014, the secondary market prices of properties in Delhi witnessed a dip of 25-30 per cent due to inventory pile up. This inventory pile up made investors go out of cash and made them to sell properties in Delhi for a comparatively lower price. Though these prices were not too low but were little less when compared with peak prices that prevailed in the first half of the year 2014. Though this statistics shows that this year started off with real estate being favourable for the potential home buyers, buyers were not still happy with the prices as the capital city has the highest of prices even for not so prime areas in Delhi.

The April- June quarter of the year 2015 has seen a rise of just 1% in the real estate prices in Delhi NCR. Even though the inventory pile up and subdued demand were still showing high in Delhi, this rise is just by 1 percent which is very insignificant. The property prices in South Delhi fell by 2% while North by 5% and West Delhi dropped by 8% according to the Delhi real estate market.

Meanwhile the government of Delhi cleared the decks of land pulling it the suburbs of Delhi two months back which have helped in bringing down the property prices by 15 to 20% in the next two years in Delhi. This land acquisition by the government will make abundant of land available for affordable and low-budget housing projects in Delhi. It will also help in expanding the urban limit of Delhi region. It is expected that if the builders offer required inventory on a steady phase. When high prices of properties in Delhi meets less demand then obviously the real estate sector will have a declining trend, which is now currently happens in the Delhi NCR.

The Delhi Development Authority recently came up with the Delhi Master Plan-2021, according to which it will work along with private sectors to urbanize about 20,000 hectares of land. When this urbanization starts, there will be about 1.4-1.6 million dwelling units in the outskirts of Delhi. This plan aims at bringing a house to meet the growing population of Delhi which may strike a high rate of about 23 million in the year 2021.

The recent survey in Delhi and NCR including Noida and Gurgaon indicates that there are about 1.7 lakhs of unsold flats in these regions. With this inventory pile up going high on numbers, prices of flats in Gurgaon has went down by 25%, flats in Noida by 30% and flats in Delhi by 15%. These ups and downs in Delhi real estate market have resulted in a crucial differences in the prices here.

Investment in Sarjapur Road gaining popularity

2015-09-10T16:29:00.000+05:30

Investment in Sarjapur Road gaining popularity Sarjapur road in Bangalore has become one of the leading realty hotspot of the city owing to its close proximity to IT corridor. This rapidly developing location has attracted towards it many investors to launch new projects to cater to demand of the buyers. With major IT companies setting up there campus here, the real estate development in this area has gained immense popularity among all working professionals. It is located very near and well connected to IT corridors in Whitefield (15 km), Electronic City (19 km), Outer Ring Road (16 km), Marathahalli and Koramangala. This proximity has helped boosting real estate in Bangalore Sarjapur road. The affordable prices of plots and flats for sale in Bangalore Sarjapur Road have also contributed to the high demand and absorption rates.

The real estate in Bangalore Sarjapur Road is stimulated by end users that mostly include IT professionals. Major developers such as Yesvee Estatesm, Asset Builders, Prabhavathi Builders & Developers and Sai Vandana Properties have already launched their projects here due to high demand in this area.

Close proximity to IT companies

Though we have discussed a lot on this, yet it makes the most compelling reason for rapid real estate growth in Sarjapur Road. The proximity to various IT clusters including Whitefield and Electronic city, this locality also sees development of various micro-markets. With Wipro, HP, Cisco and Accenture and other multinational companies has made the growth of floating population here. People who work in these IT clusters prefer to buy a flat for sale in Bangalore Sarjapur Road due to their affordable prices and easy accessibility. This has made this area a major residential spot for IT professional and other individuals as well. Apart from IT corridors, it also have other required social infrastructure such as educational institution and hospitals that have lured many people to shift base here.

Affordable prices

The prices for apartments and plots for sale in Bangalore Sarjapur Road are comparatively low when compared to the prices in the city. You can buy a 2 BHK flats n Sarjapur Road with a per square feet rate of just Rs. 4500 to 6000. This locality's real estate is driven by end users mainly because of its affordable prices. Along with good schools and hospitals, and retail outlet, Sarjapur road is a sure realty destinations for many now and in future as well. There are a lot of plots for sale in Bangalore Sarjapur Road are available for affordable prices for builders making luring them to start various new residential projects here. With such affordable capital values, most of the ready to move projects fits precisely inside the budgets of mid-income group buyers.

Affordability and close vicinity to IT clusters have made Sarjapur Road a better place to invest. Not just apartments, it also has row houses, villas and plots for sale. It also has good capital value appreciation, so you can also buy plots for sale in Bangalore Sarjapur Road to gain good return of interest.

Top reasons to buy a property in Delhi now!

2015-09-08T12:13:00.001+05:30

Delhi’s property market has woken up from its slumber. Though this was inevitable, many had given up hope on the real estate of Delhi, especially with mounting unsold properties and unfinished projects in and around the city. The government had worked very hard and implemented a lot of projects that would supplement the property growth spurt in localities like Noida, Gurgaon and Faridabad. The efforts have finally paid off and here are a few reasons as to why you must buy a property in Delhi before it is too late!

One of the major hurdles the realty market of Delhi faces is to sell off the already accumulated property. Either the prices had to be slashed or the existing amenities had to be improved to makes prospective property buyers consider shelling out cash for the properties. The second option worked and this is how:

The Delhi Metro has redefined the term called connectivity in the capital city! You no longer have to find residence in the same locality as you work. Sectors in Dwarka are now completely linked to one another! Noida is well connected to NCR too! The next proposed stage of the metro will connect Noida’s city center with the Greater Noida region making property market boom further! The Violet line will aid to Faridabad by connecting up to YMCA Chowk!
Delhi government made all the right moves in conjunction with the Central Government. The Swachch Bharat Movement started off a chain clean Green moments which lead to a lot of green spaces in the city!
The Supreme Court stepped in at the right time by settling the long standing dispute of Farmer’s Land Acquisition issues. The investors who bought land from the farmers will now breathe in peace and develop stunning projects soon enough!
New sectors are well-planned with perfectly sorted our ergonomics and wide roads. The green belt around sectors helps a lot too in improving the living standards of the locality. Given the extremities faced by the region of Delhi, climate-wise, it has been a smart thing to do.
Property prices in NCR are on the higher side but a few areas do have cheap offerings. A smart researcher will be able to find an affordable apartment in some place like Sector 16 of Greater Noida or Ahinsa Khand 1 of Ghaziabad.
Arterial roads and highways like the NH 24 greatly has shortened distances and enhanced connectivity. Ahinsa Khand, Crossing Republik, Noida sectors 62, 63, 57, 58 and 59 all have seen price hikes because of this one highway! NH8 in the same way does the same to Gurgaon! undli-Manesar-Palwal (KMP) Expressway is the sole reason for Neharpur to come in the map of property buyers from Delhi and Gurgaon
Civic infrastructure is improving beyond comparison in most of the localities that are experiencing growth in property in Delhi. Complementing the same is that the cost of living is comparatively lesser in localities like Faridabad when compared to NCR regions.

The growth of property market in Virar-Mumbai

2015-09-08T11:40:00.002+05:30

Any locality whose property prices see over a 100% growth in less than a decade can be termed as a stellar place for returns on investment! The shrinking availability of space in the mainland of Mumbai in the last 6 years or so, builders and developers have been forced to look elsewhere and Virar has been their go to destination!

Geography:

While on the lookout for new realty destinations for developing apartments in Mumbai, Virar has caught the fancy of many top property builders. It is termed as the town of the future by property experts in the city. Situated close to Vasai and surrounded by other suburbs like Dahisar, Tokare, Arnala and Nalasopara East, the town falls under the district of Palghar. The area available is huge; over 100 square kms of land!

Future prospects:

With Mumbai turning out to be empty handed, there is a desperate requirement for fresher, cheaper rural towns which can take up the population of the region. This is how a place like Virar has profited. It has a well-planned connectivity with the other parts of the city, making it a real prospect for the future.

Inside of this arranging is the Virar-Alibaug Corridor Project. The undertaking has a twofold objective – firstly to unite the two towns by road, and furthermore by the metro. While the time period for this is year 2031, it is bound to happen slow, yet steady! The other arrangement is to have the monorail running in the middle of Virar and Chikhaldongri. The Rs 600-crore plan will cover the Virar-Chikhaldongri line in a couple of years or so!

Social infrastructure:

Though underrated, the area is not too bad for what is primarily going to be a residential destination for many investors. Though the area might not boast of many Malls and other hi-tech facilities, it more than makes up for all that with the coastal feel to the region! The beaches are an added advantage and the number of resorts dotting the coastline makes for a great way to unwind on a holiday than jostling through the hustle and bustle of a mall.

There are a few amusement parks too which break the monotony of activities. A few heritage spots like the famous forts of Arnala and Vasai make it interesting for those who like a mini trek. The locality is also known for a number of lakes that are present - Achole Lake, Nirmal Lake, Bhuigoan Hill Lake, Nandakhal Lake, Gassa Lake, Gorlai Lake and Varmala Lake all make for a good vacation spot for families.

Financial Gain:

Let’s face it Virar might not be the primary residential destination for many Mumbaikars. But, the possibility of buying a house here and renting it out for income is a smart move! Localities like Dahisar in Virar offer good deals on rent with 2 bhk apartments in Virar fetching as much as 20,000 INR a month on rent alone! So, go ahead and pick out an apartment in the hottest upcoming locality of Mumbai and be pleased!

Author Bio:

Shailja is an Indian housewife who loves to write on Real Estate. She is a regular contributor to the columns of many property magazines and also IndiaProperty.com

Best places to buy affordable apartments in Ahmedabad

2015-09-03T14:10:00.001+05:30

Ahmedabad has always been a favourable residential destination for people for various compelling reasons. Housing a number of IT/ITES companies, textile mills, manufacturing companies, pharmaceutical companies, and more, it contributes a commendable part of the state's economy. It is also known for housing various popular educational institution such as CEPT, IIM and NID. With all required amenities, developed infrastructure, numerous job opportunities and more, what else can one ask for more than this to invest on any properties in Ahmedabad?

With that said, the real estate in Ahmedabad is always on a high peak with a perfect equilibrium of demand and supply. Ahmedabad is one of the few cities in India where you can buy affordable flats without compromising on any basic amenities. While Ahmedabad on the whole is a realty hot spot, there are few locations in and around it that offer apartments at affordable prices. If you are looking out to buy 3BHK flats in Ahmedabad for a reasonable price, then you will have various choices of locations left before you.

Satellite

Situated on the west of Ahmedabad, Satellite is the developed locality that offers affordable houses and properties in Ahmedabad. The inventory of both residential and commercial property in Satellite is very high to meet the demand from midlevel income group people. With a number of popular educational institutions, hospitals, entertainment centres, shopping malls, cinemas, and more, Satellite makes a best place for families to invest and live in. With a fast developing physical and social infrastructure, well-laid roads, connectivity, and transport, it remains as a desirable realty destination for many in the recent years. Even the capital values of properties in Ahmedabad Satellite is also reasonable and are escalated by 22% this year for which it attracts a number of potential buyers. This high appreciation rate have drawn investors towards it.

Bopal

Bopal which was once a satellite town & Gram Panchayat is now a municipality in the Ahmedabad district. Bopal and its neighbouring village Ghuma have been merged and granted a 'municipality' status in February 2015. It also forms the western part of Ahmedabad. With a comparatively lower cost of living, it is considered as the best place for middle income group people. It is because of this reason, Bopal offers affordable 2 and 3 BHK apartments in Ahmedabad. Availability of huge land parcels in this locality make it possible for investors to buy properties in Ahmedabad Bopal for affordable prices. So they are able to offer well-built apartments with all civic amenities at reasonable prices.

Gota

Gota a popular suburb of Ahmedabad is well known to offer affordable apartments. Located on the SG highway, it has attracted so many construction projects in recent past. The availability of land parcels at lower prices is the main reason that attract investors here. Investing comparatively lower prices on land, the builders are able to offers best living spaces at affordable cost, which lures middle class people to invest here.

Some of the other localities where you can find affordable properties in Ahmedabad includes Surat, Kodakdev, SG Highway and Motera.

Steady growth of real estate in Ghaziabad

2015-09-01T12:18:00.001+05:30

Called as the “Gateway of Uttar Pradesh”, Ghaziabad is the fastest growing city of the country. It is a planned industrial city, which is complete with well-connected roads and railways. With a developed infrastructure, educational institutions and health centres, Ghaziabad is a perfect place to live in. With so many housing clusters such as Indirapuram, Vaishali, Vasundhara and Kaushambi, Ghaziabad provides affordable housing for its people. There are several new projects coming up in these areas that cater to both middle income group of people and high income group of people.

The major realty growth in Ghaziabad is mainly contributed by the NH-24 and NH 58, which are gaining popularity for residential properties in Ghaziabad. As the locations around these highways are located near to Delhi and also has various infrastructural developments, they boost the real estate of Ghaziabad. Also the availability of flats in Ghaziabad at affordable prices have attracted potential buyers to it. Both residential and commercial development happens mainly near these two highways. In short you can say only NH24 and NH-58 helps in keeping the Ghaziabad real estate in peak.

The Metro line that runs in Vaishali at Arthala has made a positive impact in its real estate... Also the multilateral flyover at Ghazipur Chowk, a flyover at Mohan Nagar Chowk connecting NH-58 and a link road connecting NH-58 to the residential zone at Raj Nagar Extension all offer easy and convenient connectivity between different localities of the city making people to invest in any of these areas without the fear of accessibility. With a launch of several new projects in NH-24 and NH-58, these area came into prominence in real estate in Ghaziabad.

Located in close proximity to Delhi, Ghaziabad has a mixture of people from different culture and classes that help in increasing demand for both affordable and premium flats in Ghaziabad. So people who work in the other costly cities around Ghaziabad such as Noida and Greater Noida prefer to stay here due to its connectivity and affordability.

Investors in Ghaziabad also follow a particular trend to keep moving with the growth of real estate in the city. They prefer to buy newly launched properties in Ghaziabad and sell them within a short span of time. In this way they try to increase the appreciation rate of properties. For instance if an investor buys a property today for Rs. 30 lakhs, try to sell in in a period of three to four months to a Rs.40 to 45 lakhs. This helps them in constant cash flow and in increasing the rate of appreciation of properties.

Not just investor played a main role in improving the real estate sector of Ghaziabad, but also the government. The government helped in improving and promoting the industrialization in and around the highways. Apart from residential areas, industries, logistics, production units, environmental protection facilities, public utilities, social infrastructure and administrative services help the real estate thrive in these areas. Hence the demand for residential apartments in Ghaziabad increased with time. These areas witnessed a lot of residential projects launching at a rapid speed.

What is ready reckoner rate?

2015-08-21T11:52:00.001+05:30

When you decide on buying a property, the next thing you have to do is to improve your knowledge on all real estate trends and real estate market.
It is also necessary for potential buyers in real estate to know and understand various terms and words used in the Chennai real estate. While there are a lot of terms used, ready reckoner rates is something that every buyers should know about. Ready reckoner rates are prices that are regulated and published by the respective state government on residential property, land or commercial property. Every state government revises these rates on an annual basis. Only based on these rates any property buyer will have to pay stamp duty for his purchase. These rates differ from each and every locality.

How do ready reckoner rates affect real estate prices?
Ready reckoner rate is the primary factor that brings in a big change in the real estate prices of any location. Though these rates are set by the state government, the builders have freedom to charge premium above this ready reckoner rates. But builders are not allowed to sell the property less than the ready reckoner rates. The difference between the selling price and the ready reckoner rates will be a black money transaction.

Whenever the government rises these rates, then obviously the real estate prices will also increase. Also the fees and tax that the builders will have to pay to the government will also increase with ready reckoner rates. So builder will surely impose these rates on buyers thus resulting in increased selling rice of land and apartment for sale in Chennai. Not just builders and sellers, these rates also affects people who already own a property in Chennai as the tax to pay to the Municipal Corporation also increases with these rates.

How to know the ready reckoner rates?
You can easily know the ready reckoner rates of any particular location through the ready reckoner site. You can also know this rate from the websites of registration and stamp duty department each state. This helps in maintaining a transparency in the real estate prices across the state and the country. You can also get the rates from office of the sub-registrar where the property in transaction has to be registered.

Ready reckoner rates and built-up area
Ready reckoner rates are always connected to built-up area and not with the super built-up area or the carpet area of the flat in Chennai. The highest revenue source of every state government is through the ready reckoner rates (stamp duty registration). The government has insisted all builders to sell the apartments in Chennai on basis of only the carpet area and not the super built-up area. But most of the builders sell their property only on basis of super built-up area. Even when some builders obey the government, they increase the per square feet area.

Always remember to know the ready reckoner rates of all area in Chennai if you are planning to buy an apartment for sale in Chennai. There are also online calculator to calculate the ready reckoner rate and stamp duty value of any property.

Points that should not be overlooked while buying an apartment!

2015-08-07T18:13:00.000+05:30

Indians are known to overlook aspects which are considered important by people worldwide. For example, while buying a car in India safety and quality takes the back seat while mileage and pricing takes the front seat! We are indeed a practical group of people but some important factors have to be considered while buying something that stays with us for a long time. And when it comes to long term investments, buying a home is the most important purchase of all.

In this article, we try to cover some of the points which are generally overlooked by us but should actually be considered as important as the price and location of the house we buy.

Better safe than sorry – Home Protection

Be it a rural area, town or a metropolitan like Chennai or Mumbai, buying property should always consider the safety aspect of the home. If you are purchasing a plot make sure that the locality has a police station, fire service center and also opt for a gated community for added security.

If it is an apartment make sure that the doors and windows and the locks provided by the builder have grilled reinforcements and upgrade them to better quality gear if needed. If your purchase is a retirement solution, make sure that there is help readily available in the form of an association that is helpful.

Legal opinions and second opinions!

Never jump in blindly going by the tags ‘Clear Title’, ‘100% Documents’ and such. Those are commonly used marketing jargons that are in no way validated by anyone. Get the copy of the documents from the builder / developer / promoter and get a legal opinion of it.

Don’t shy away from getting a second opinion if not confident enough. Also, if the property ownership is going to be joint ownership, get the legalities out of the way first up without rushing into it at the last moment.

Surroundings matter

It not just how the house is on the inside, but the approach and surroundings also matter. Often builders lay out a lawn, a pool surrounded by a jogging track and greenery to attract buyers. But if the project is nearby to a waste land or a swamp it is going to be a tricky place to live in!

In the same way, if the approach roads are not well laid or if there are slums nearby, if will be a problem in the longer run. Residential apartments near to industries that pollute are highly not recommended. Research around and see and ask opinions about the locality.

Builder History

There is nothing wrong in trusting a new builder but it is always a safe bet to invest your hard earnt money with a property developer who is well established in the real estate market. With experience comes better quality. Also, visit old projects to see how the construction holds up. Do check on how long the builder supports maintenance for the building after handing over for occupation. The longer the warranty, the more confidence the builder has on his own project!

Atul Joshi is an environmental activist who closely monitors the Green Moment of Indian real estate. He loves sharing the information he holds to the public and he reaches out through IndiaProperty.com

Will the plans on linking property sale and GIS maps bring in transparency in Mumbai Real Estate?

2015-08-07T17:44:00.003+05:30

The property prices in Mumbai and other cities are rising rapidly these days owing to the huge demand from potential buyers. With increased potential buyers who seek out for perfect location to buy a property in Mumbai, the demand have increased. The price of a property is highly affected by its location. Even the reckoner rates fixed by the government on each property mainly depends on the location. For instance a property located on a prime location near a bust stand, a railway station or airport tend to have high prices when compared to a property in remote location. So government fixes the reckoner rates only depending the growth of the place in which the property is located.

Reckoner Rates

Reckoner rates fixed by the government decides the rates of the immovable property like commercial and residential properties in Mumbai. It is based on these rates that the stamp duty and registration fees of any particulate property is collected by the Stamps and Registration department of the government. Each state government in the country determines these rates annually based on the location of the property. The government also has full authority to rise these rates.

Recent plan of Maharashtra Government

Though these reckoner rates are analysed and changed every year by the government, it is not very transparent to the public. To make reckoner calculation precise and transparent the Maharashtra Government have recently announced a new plan. According to the new plan, the property transaction data will linked with GIS maps. Initially pilot projects will be started in three cities of the state such as Mumbai, Pune and Thane.

When property registrations are linked with GIS maps, then it would be easy for the government to get precise reckoner rates for each part of the state. Reckoner rates as of now are calculated based on the market rates, local inquiries, documents registered with the department, information from media reports, real estate exhibitions and market intelligence. But all these factors are subject to frequent changes that may affect the ready reckoner rates.

When this plan is executed, the ready reckoner rates will calculated with scientific average calculated by automatic analysis of property transactions in a particular city survey number. This will use satellite imagery to know each and every development in different areas of the state and how it bring in changes in the property prices.

Challenges in the plan

Though this plan may bring in transparency and accuracy in reckoner rates, it has certain challenges. Getting property transaction details of individual Flats in Mumbai may be difficult as most area of the state may not have been updated and digitised. Also it would be difficult to identify the transaction area with just a survey number.

The use of GIS in real estate is a good news to Indian real estate. Location is the prime factor that influences real estate. GIS helps us receive accurate data on the geographical location of any property. Hence we can use GIC not just in analysing property transaction but also in various other task in real estate such as market analysis, spatial analysis and property research.

Benefits of opting for Joint Ownership

2015-07-31T15:05:00.000+05:30

Buying a property is not all about choosing the right location, looking for amenities and accessibility and transport facilities in the area. There is more than what meets the eye when it comes down to purchasing the property. The factors that make property buying in Mumbai and other metros a hassle range from financial deadlocks to legal issues. A number of these factors, however, can be nullified to an extent by opting to get into the property purchase as a joint ownership with your spouse or your parent(s).

In today’s economy, joint ownership always makes more sense and even the government is well aware of the fact and that is why our government offers a number of incentive benefits while going in for a Joint Ownership. Stamp duty and registration charges are much lower in such cases which clearly suggest that the government is promoting the case for a joint ownership.

With the property in Mumbai and other metros clearly rocketing sky high, it becomes next to impractical, let alone being impossible to buy an apartment or a villa on a single person’s income. Financial burden is shared when joint ownership comes into play and the initiatives of the Indian Government for women empowerment also means that the interest rates could be lower.

Joint Ownership of a property does not come in a ratio and promotes equal rights to the title for both parties. Hence, it is suitable for couples and in fact could strengthen the bond early into married life. Another huge advantage would be that in the unlikely event such as the death of a person would entitle the other owner to completely inherit the property without having to face any legal tangles.

Loan repayments can be done either by both parties separately or by holding a joint bank account. The loan eligibility also becomes higher since the calculation is done by combining the salary of both the parties instead of just one. Both owners can also claim tax benefits which is a huge advantage for any salaried individual.

The entire of the stamp duty will be waivered off if in case the property is jointly owned by a woman. In a few states in the country, if in case a joint owner dies, if the other owner happens to be the spouse, the procedure for transfer of ownership is very simple. The property is not treated as an addition to the surviving owner’s property list which makes tax calculation simpler and more profitable for the surviving mate, making it easier to survive the loss.

Also, flats in Mumbai that are owned jointly are easier to pledge if it happens to be the need of the hour. Banks and other financial institutions are ready to take up joint ownership properties since they have more security of getting back the money since twice the number of repayment individuals are present.

Also, if the repayment is done without any arrears, future borrowing on the property becomes child’s play making it a profitable venture for both the parties. So, choose wisely on how you register your next property!

Powai is turning out to be one of India's startup hub

2015-07-28T14:58:00.001+05:30

The startup revolution in India is just mushrooming at a greater speed. Though metro cities serve as a best ecosystem for startup hubs, even non-metro cities such as Powai and Kormangala have also become a best ecosystem for new, upcoming hubs. As many cities across the country have started the race in becoming a powerful industrial and financial base, it is too early for us to decide on one city that could beat the other cities in the race. With these financial and industrial development, the real estate market in those areas are definitely going to be profited to a greater extent. The prices of Mumbai properties, properties in Bengaluru, Chennai and Kolkata are on the verge of rising.

The prime reason for Powai to turn into a thriving startup hub is its close proximity to the IIT Bombay. The fresh and talented graduates from IIT Bombay are keen on developing new business and online sites. With these development of new companies, Mumbai is turning out to the future face of India's economic growth, which in other way has enhanced its growth in real estate sector. The properties in Mumbai have rising prices that go high each and every year.

Powai, the developing business hub has so many people with innovative ideas, technical knowledge, and knowledge about business in local and nationwide. Located in close vicinity to IIT Bombay, it is a house of talented and enthusiastic graduates who wish to grow up in their own, new business. For instance the Housing.com, an online property search site was first started in a dormitory in Mumbai by 12 IIT Bombay students in 2012, now it gives its service to about 40 cities in India. These kind of startup companies have attracted many Venture Capital firms such as Sequoia Capital to Powai. The costs and groundwork of starting and conducting business in Powai seems to be in a reachable distance for all energetic graduates. With such startups, the flats in Powai have now drawn interest from many potential buyers.

Various other startups in Powai region include Instamojo, TinyOwl, Toppr, OpenTable, Belita, Purple Squirrel, InOpen Technologies, Enelek, and MoFirst. Every year Mumbai had earlier seen only 5 investment proposal but it has increased to about 50 mainly due the IIT Bombay students. There are several ventures from IITB alumni such as Olacabs, Housing.com, and more. The affordable rentals available in Powai have made many IITB graduates and entrepreneurs to stay there and start up their ventures. These factors have helped Powai to become a successful commercial city.

Powai has not just stopped from becoming one of the birthplace of several renowned companies, it has also emerged as a best residential location for many. The huge number of properties in Powai and upcoming flats in Powai are visible examples for its residential development.

These startups have not just made Powai proud and popular, but also the Mumbai city. There are several Angel Investment firms and mentors in Mumbai for those enthusiastic startup founders and entrepreneurs in and around Mumbai.