The lush green area with sprawling open land and industrial growth make Boisar one of the hubspot for affordable housing segment in Maharashtra’s real estate sector. The smart and convenient connectivity with Virar and other areas of Mumbai city via Western railway line make both working as well as living affordable in this region.
In recent times, the residential market of Hyderabad has seen a lot of upsurge in property sales. Because of this, city’s real estate has emerged as a good investment option. However, among all the other zones, North Hyderabad proved to be most beneficial which has seen potential investments by many home buyers.
At present, North Hyderabad is dominated by many IT/ITeS SEZs, IT parks, industrial parks, and warehouses which give employment to thousands of people. Due to which many professionals are moving towards this area to make property investments and hence the region has ensured uniform growth across all major localities.
In order to boost the affordable housing segment across India, the Central government has already announced many schemes to provide housing to all. Even the real estate sector is happy with this initiative as they are getting good capital appreciation and healthy returns. Apart from this home buyer across the country are also seeing growth in the affordable housing sector which was very less in earlier times.
Affordable housing is targeted towards a particular section of society which generally include lower and middle-income group. However, there are various factors which play an important role in defining the affordable housing for example household income, location, price, size of dwelling units, employment opportunities, government incentives, etc.
The latest price trend along Yamuna Expressway gives good insight into what the future holds for the investors there. The average price of an affordable two-bedroom apartment in a residential complex hovers around Rs 38.36 lakhs, according to available estimates.
The most prime piece of property listed in Yamuna Expressway is priced at ₹ 10.00 crore, according to Prop Tiger’s Makaan.com. Experts also contend that unlike neighbouring NOIDA, where prices have nearly bottomed out, in the Yamuna Expressway they have witnessed a marginal uptake.
The Yamuna Expressway Industrial Development Authority (YEIDA) has approved Rs 4,156.13 crore for the region’s growth at a board meeting convened on June 9, 2017. Meanwhile, the Greater Noida Industrial Development Authority (GNIDA), at its board meeting had approved another tranche of Rs 6,443.05 crore for 2017-18, according to various media reports. Of this Rs 1,100 crore are to be distributed among farmers whose land has been acquired for urbanisation. This represents a 64 per cent hike over what was being offered earlier.
For starters, let’s understand what does Land Pooling Policy mean?
How does it impact property buying and selling?
Should you invest in a property or in a pooled land?
And, most important, what is the current policy status?
These queries are likely to be raised by investors interested in buying a property in Delhi’s National Capital Territory.
Land Pooling comes into effect when small chunks of land are owned by group of owners who assemble for the development of infrastructure as per the provisions of the Delhi Development Act 1957.
After the development work is complete, the Land Pooling agency redistributes the land among the title holders (land owners) after deducting the cost of the infrastructure development. This is done to attract and infuse private capital into the under-developed housing sector in a city’s outskirts, and reduce the pressure on the land that is already saturated.
What’s in it for the buyers?
Under the law, while land owners offering between 2 and 20 hectare of land for development are entitled to receive at least 40 percent of their land back, after the development work is complete, those who give up the maximum (20 hectare) stand to gain 60 percent of their pooled land back once the work on the infrastructure (roads, drainage system, electricity poles etc.) development is complete. The remaining is claimed by the Delhi Development Authority (DDA) and subsumed under the Master Plan 2021. The changes clearly spell out the new land use policy – about 55 per cent for residential construction, five percent for commercial/industrial and 20 percent for open, green areas, and the rest would be reserved for common public facilities, such as educational institutes, hospitals, police and fire stations etc.
The outlook on Indian real estate has been showing a positive trend from the global investors’ perspective owing to changes in regulatory reforms. “ The policy initiatives, including the much awaited RERA-Real Estate Regulatory Act is making real estate more attractive for large institutional investors,” as per Christian Ulbrich, CEO-JLL.
As per an analysis of recent investment trends, India is moving in the right direction and is inspiring confidence in global investors. Due to the extremely constructive changes in its regulatory framework, India has become an investment hotspot to foreign investors. The Indian economy is also seeing a positive upward graph. There have been some important developments which will impact Indian real estate favorably – Increased rate of consolidation, improved transparency and the fact that REITs [Real Estate Investment Trusts] have been launched. [Read more…]
Once rural outskirts are now turning into Suburbs all over the map. May it be Mumbai, Pune, Chennai or Bengaluru; the driving forces behind all this expansion are new expressways, metro rail links, IT Parks and commercial hubs.
Let’s consider Mumbai: far flung areas are being enveloped in the fold of the Mumbai Metropolitan Region (MMR), such asUlwe and Taloja in Navi Mumbai and Ambernath in Thane. Some of these areasform the satellite cities of metros. These suburban places not only enjoy good connectivity but also decent infrastructure and social amenities. Many top rated schools and colleges are opening branches in these areas. Restaurant chains,malls and multiplexes, hospitals etc. are expanding to these locales, thus making the suburbs even more attractive.
Anuj Puri, Chairman and Country Head of realty consultancy JLL India says, “These suburbs are about convenience and shorter commutes, about fine living and a wholesome lifestyle. There are more open spaces here, with a focus on leisure and quality time with more companies, both Indian and foreign, establishing offices in the suburban locations.” [Read more…]
Since India is growing by leaps and bounds in the real estate sector, property management in India is gaining prominence. Property management is a booming business. These services do all your work and look after your assets, right from maintenance, renting, regular payment of taxes, insurance premiums and utility bills.
With the continued migration of residents, both within the country and abroad, investors in real estate have been finding it difficult to manage properties during their absence. You can rely on your friends or relatives, besides this there are no options. But times are changing and so is the outlook of Indians. One area that has really caught the attention of foreign companies involved in property management is the tremendous potential in Tier I and Tier-II cities. [Read more…]
Year 2017 is set to define Indian Realty. Few game changing policies like RERA and GST are likely to be fully implemented and the benefits will be visible. Also, the demonetization drive created ripples in the short term for the already reeling realty sector. Some of the trends that are likely to define real estate in 2017 include-
1- Sector to see major consolidation
Realty sector is heading towards a major consolidation activity during 2017. The small developers who follow unscrupulous activities will either become a thing of the past or will merge with the bigger fish, so that the end result is transparency and efficiency. In the wake of several game changers including RERA , Benami Properties act etc., smaller players will find it extremely difficult to function and survive without a benefactor. [Read more…]
Coimbatore, a green and serene city in Tamil Nadu, is now coming out as a major real estate market. Though it started out as a retirement home or second home destination, the city got a major boost after getting the smart city tag. It is also emerging as an important IT hub in Tamil Nadu and is seeing an influx of young IT professionals and entrepreneurs.
With an emphasis on ‘Housing for All’, the government encourages infrastructure development and improvement in living standards in Tier-II cities like Coimbatore. IT/ITeS, manufacturing and service sectors play a crucial role in its economy and to support the influx residential realty has also been augmented. [Read more…]