Stage-I Recommendations For ‘100 Smart Cities’ Project to be Announced Soon

Ever since Narendra Modi took the chair as the Prime Minister of India, one project that has always been on top of his list is the ‘100 Smart Cities’ project. For the transformation of our country’s urban landscape and for the complete revival of its skyline, PM Modi launched the Smart City project. It aims at the development of such cities that are self-sufficient in terms of infrastructure, connectivity, social facilities and technological advancements.

100 Smart Cities Projects in India to be Announced Soon

A total of 100 such cities are planned to be developed by different states and union territories. The suggestive policy measures have already been finalized for the same. Recently, the Union Urban Development Ministry declared that it will also finalize the first stage recommendation and guidelines for the development of these 100 smart cities project. It is to be announced either on Thursday or Friday. [Read more…]

PM Modi’s Three Scheme Mission for Urban India

On 25 June 2015, Prime Minister Narendra Modi unveiled three schemes-

  1. AMRUT (Atal Scheme for Rejuvenation and Urban Transformation)

  2. Smart Cities Scheme

  3. The Pradhan Mantri Awas Yojana that aims to build 2 crore affordable homes.

Modi’s ‘Housing for All’ mission is an ambitious step towards meeting the housing needs of all income groups. He said that no Indian should sleep on the road and that is what his government aims. This is his roadmap towards ‘Urban India’.PM Modi’s Three Scheme Mission for Urban India

These three mega schemes including the 100 smart cities project will also look for Foreign Direct Investment (FDI) and private sector’ help to rejuvenate cities and towns across the country. The PM said that rapid urbanization should be seen as an opportunity and urban centers should be seen as growth engines. This was held at the Vigyan Bhawan where number of development models were presented by different states. This marked a people centric approach to create world class urban spaces.

AMRUT scheme will help in redeveloping townships and will carry out a total makeover of the cities. The central assistance will be sued only for infrastructure projects which will cater to a larger public. All these projects will be eco-friendly and a major part of its energy needs will be met through renewable sources. Most of the building construction is to be green out of which 35% green field projects will be for Economically Weaker Section (EWS). The names of these ‘Smart Cities’ will be decided through a competition to be held at state and central level. [Read more…]

Senior Citizen Housing Projects: Emerging Trend in India

Nowadays, senior citizens have become self-dependent and want to live an independent life. Unlike how it was a few decades back, the post retirement scenario has totally changed now. Elderly people don’t need the support of their kins; they pursue their hobbies and enjoy life in their golden years.Senior Citizen Housing Projects Emerging Trend in India

Seeing the increasing demand for a better lifestyle among retires, a number of developers are coming up with senior citizen centric housing project. These projects have come out as viable options both from investment and end-use. In order to encourage community living in their sunset years, developers launch these housing projects for them. 

The main focus of senior citizen housing projects is on the needs and requirements of these old age people. With growing age the need for seeking someone’s help also increases. The projects cater to all these requirements. Some of the extra facilities offered in these projects include:

  • House Keeping Services

  • Passageways for wheelchairs

  • Emergency response system

  • Grab Rails in slippery areas

  • First aid services

  • Doctors and nurses within campus

  • Proximity to hospitals

[Read more…]

Flipping in Real Estate: A Quick ‘Buy and Sell’ Strategy

Flipping in the real estate world means buying low and selling high in the market. Flipping is a type of property investing which focuses on getting quick return on your investment. You buy a property and then sell it for a higher price on the total investment keeping in mind the money spent on buying, renovating and holding the property.Flipping in Real Estate A Quick ‘Buy and Sell’ StrategyThe basic idea to enter into a real estate flip is with the help of making quick money. If you are smart and if done correctly, a flip can provide you with large profits.You should always do your market research before buying a propertyTry to figure out the pros and cons before investing. Do a thorough research to know about the demands in that area, browse through the ads to find the deals that suit you. Know the present asking rate and look at the houses that have been recently sold. You buy a property and the next step would be a little bit of renovation. [Read more…]

Why is Gurgaon touching heights in residential property market ?

Gurgaon is a thriving industrial and residential hub, geographically, located in the state of Haryana at 35 kms from Delhi. In 1970s, a leading automobile company, Maruti Suzuki India Limited had established its first plant in Gurgaon that pushed other industries to introduce their firms in Gurgaon. With the revolutionary growth of such industries and tremendous turnovers, a growth in real estate sector comprised of commercial and residential property in Gurgaon has been encountered. Why is Gurgaon touching heights in residential property market ?Gradually, with the establishment of commercial properties in Gurgaon, the residential properties also increased in number. Thus, there is a plethora of residential properties in Gurgaon offering hi-tech amenities to residents.

Present scenario of residential properties in Gurgaon:

The residential real estate market in Gurgaon is at boom because of the factors that it is an investor driven market. There are a few more sparkling factors like easy commutation to Delhi and international airport, high employment opportunities, flattering tax policies, tremendous industrial development, and much more. The analysis reflects that Gurgaon ranks second in the NCR’s residential real estate market. 24 percent of units are under construction and by 2018, the city is expected to have 2,500 residential buildings. However, the existing residences have a varied range starting from one bedroom flat to penthouses and villas. Rental residences are also available offering a luxurious lifestyle that include air-conditioning, beautiful site scenes, gyms, swimming pools, rainwater harvesting and other relaxing amenities.

A quick tour of residential projects:

[Read more…]

Real Estate Scenario to Improve by This Fiscal Year: Global Rating Agency Fitch

The Indian property market is likely to see an improvement this fiscal year” reports the Global Rating Agency Fitch. The reduction in interest rates and the upgraded scenario of the Indian Investment Market has brought a good news for the debt-ridden real estate development companies.
Real Estate Scenario to Improve by This Fiscal Year: Global Rating Agency FitchIn January, the Reserve Bank called for a 0.50 per cent reduction in the key policy rates. This, in turn, will prompt the commercial banks to offer home loans to the buyers at reduced interest rates. It is also beneficial for the property developers as they will have greater exposure to the middle class and lower-middle class home buyers who did not invest in properties because of the high rates of interests.
[Read more…]

RBI Survey suggests Decline in Housing Price Inflation

Economic Times reported a survey conducted by the Reserve Bank of India regarding the Housing Price Inflation in the country. The report brought forward some surprising results. The Housing Price Inflation in the country was reported at four year low. This time it was below 4 percent.
RBI Survey suggests Decline in Housing Price InflationAccording to previous reports, housing prices experienced an increase of 61 per centover a period of four and a half years. Jaipur recorded the highest increase of whopping 78 percent and Chandigarh reported the lowest inflation level of 40 per cent.

The survey was conducted the RBI across 13 cities. It was based on the home loan disbursed by 35 lending organisations including housing finance companies and scheduled banks across these cities. The housing price inflation is calculated based on the rise in Residential Property Price Index (RPPI). The RPPI rose to 172 in 2014-15 from 170 in 2010-11. The same index experienced the highest increase in 2013 and now it has come to a decline.

[Read more…]

Real Estate Bill: What’s in it for the buyers?

Real Estate Bill: What’s in it for the buyers?Recently, the Modi Government amended the Real Estate (Regulation and Development) Bill 2013. Previously, the bill was only meant to safeguard the interests of residential home buyers. However, the approved changes in the bill incline it in the favor of the buyers and investors as well as the developers and cater to industrial and commercial properties as well.

The bill brought forward the issue of contract enforceability and made it clear to the developers that if they do not honor the contracts they have entered into, they must refund the amount to the buyers along with interests and other charges. Each state will have its own real estate regulator and all the commercial and residential properties will be registered with the regulator. Unregistered properties will not be considered genuine. Nor can the developers advertise or launch projects without registration. However, real estate projects that have already been launched will be covered. [Read more…]

How to Secure Yourself from Real Estate Scams

How to Secure Yourself from Real Estate ScamsAt a time when customers are being given a huge number of Real estate focused messages that are directed towards enticing them to make that buying decisions, scams do exist and there are some schemes that are being run by fraudsters. As a result, a customer has to be very alert and extra careful while making that all important decision to invest in real estate.

And hence, we suggest that before you invest your money, particularly with real estate, make sure to read these tips on how to prevent such a scam in real estate from happening. [Read more…]