Thursday, November 29, 2012

Advantagesof Livingin Apartments

In the modern times of materialism, families have isolated into small pieces. Thus, peoples’ inclination towards living in apartment chunks is prosperous.There are many experts and conduits of living in these slabs. They are a better selection to occur. In apartments, you need not to take care about the issues related to the property. People live in these units, because it is more protected as compared to personal individual apartments.Generally apartments are secure through security alarms and 24 hours video exploration. These security techniques make these slabs isolated for impostors.Additionally, these apartments syndicate with many entertaining amenities, like shared laundry, fitness centre and swimming pool. Therefore, these additional amenities improve the living experience of its populations. Furthermore, due to joined sections, harmony among residents increases and they share their happiness and sorrows of life with each other. Apartments do not need taking care of the conservation or gardens as people are not concerned with this responsibility they are not a matter of anxiety for the people residing in them. In case there is any problem related to property of apartments you just simply need to pay the amount and get it done overhaul.

Even you just have to pay the single check for all the bills in reference to your apartment, no need of different checks for different bills like electricity bill, water bill etc. Issues like tax, building review, or declaration shelter are not your nervousness, so you don’t need to be worried about them too. Once you get to live in these apartments you would realize that these are best to stay with reasonable prices and they will not harm much to your budget. Apartments these days are available in large variety, suiting every pocket. For People who like to move or travel regularly to new places, apartments are the best choice.

Advantages of living in Independent House

On the contrary, living in these blocks has some disadvantages as well, for example, vicinity of fellows with each other put people in a problem or spare time, because of the dreadful behaviour of the neighbours. Additionally usually these pieces are built as multi-storey buildings with no lift facility, so it becomes difficult for people to get to their chunks if they are residing in 3rd or 4th level. What is more, parking is another vital issue of these buildings, and circumstances get bad when these occupants are visited by their neighbouring and dearest. If you want to use your imagination during building in terms of interior design, material, paint, lights, bath fixtures and other add-ons, then you should go for an Independent House. Houses can be recreated, extended or renovated as per one’s pleasure, while apartments cannot. You can cherish your own kitchen garden or can enjoy the luxury of swimming pool in the courtyard at your Independent Homes, which may not be possible in Apartments.

In order to follow best quality lifestyle, it is important to choose your dream house with sound pleasure. After all, it’s your state where you would love to stay and enjoy your life.

In addition to, keeping everything into deliberation, living in an apartment compound is better in spite of some drawbacks, because buying an independent house is extremely deluxe, and everyone may not be able to buy a house.
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Tuesday, November 27, 2012

How will Kundli-Manesar-Palwal Expressway Affect Greater Faridabad Realty Sector?

It might sound quite surprising that we are discussing the KMP Expressway significance for its relevance for the relatively distant land of Greater Faridabad. Well, let us not forget that every location and place has its own relevance and every new infrastructural development has its impact over a wide range of area. The Kundli-Manesar-Palwal expressway is often cited to be one of the main factors which have affected the realty factors of the projects such as Omaxe Heights in Greater Faridabad. Before discussing its benefits for the region, let us get our facts about this expressway project right.

The basic rationale for the development of this project is to provide seamless connectivity between the newly created district of Palwal in south Haryana (and also to the south of Delhi and Faridabad) to Kundli in north of Delhi (which lies in Haryana, on the Karnal Highway and on the outskirts of Delhi). All through, the route will be bypassing Delhi, Gurgaon and Faridabad and will be constructed to the west of capital city of Delhi. All along the route, the development of adjoining lands will push up the prices of real estate. It will provide an easy to commute and drive way for the people who have to travel from Palwal to Gurgaon or the north of Delhi and vice versa, without having to move from within the congested roads of Delhi. For the people who come to reside in the projects at Greater Faridabad, such as Omaxe Heights Faridabad, this opens up another route to reach the north of Delhi or the National Highway 1 by using the Faridabad-Gurgaon route to meet the expressway at half-distance. This greatly reduces the time taken to travel from the busy Mathura Road, all the way to Kashmere Gate ISBT and then taking the outer Ring Road to reach Kundli.

The Greater Faridabad residential projects, being low in costs, provide the opportunity to the largely white collar population of Gurgaon to reside in affordable dwelling places. Since Gurgaon is attracting people for employment opportunities from far and wide and including the people from Palwal and north of Delhi, Greater Faridabad will prove to be a closer home than either Palwal or Kundli or their adjoining areas. Further, the presence of all urban amenities and facilities close-by would further add to the cost advantage. For people living in Gurgaon, there is problem of finding the markets and urban amenities in low rates including the affordable medical services. Similarly, the problem with the areas lying close to north Delhi and Palwal in south Haryana is related more to the non-existence of most of these facilities which makes Faridabad and Greater Faridabad quite important locations for residential purposes. KMP expressway will provide express connectivity to the people who come to reside in Greater Faridabad from the north, west and south districts of Haryana.

Sunday, November 25, 2012

Important Documents essential by banks for getting the home mortgage

The moment when you have decided to get your property financed by bank, you must do some necessary checks what all the documents would be essential for applying the home loan. It is one of the keyroles when you are planning to apply for a loan. Without having all the documents required for processed for the loan, you would not be qualified for loan. It is time to capture what all documents are the necessary documents, if you don’t have that get it ready before applying for home loans. This article will help you make yourself clear in detail about the several documents vital by the banks. It depends on the category which you belong to. Usually banks need the documents for Salaried and Self Employed. Salaried people who are working for another company get the regular income. They will have to acquiesce the fixed set of documents. In another group, who are doing business and professionals responsible for their earnings have to show the strong proof documents for their income? Through this article we have tried to make it clear with you that following documents would be required at the time of funding.

1.Salary slip/Form 16 A.
2.A photocopy of the first and last pages of Ration card or copy of PAN/Telephone/Electricity bills.
3.A photocopy of Investments (FD Certificates, Shares, any fixed asset etc. or any other documents supporting the financial background of the borrower.
4.A photocopy of LIC policies with the latest premium payment receipts (if any).
5.Photographs (as applicable).
6.A photocopy of bank statement for the last six months.

Self-Employed / Entrepreneurs

1.A brief introduction of Business/Profession.
2.Balance Sheet, Profit and Loss account and statement of income with Income Tax returns for the last 3 years certified by a CA.
3.A photocopy of Advance Tax payments (if applicable).
4.A photocopy of Registration Certificate of establishment under shops and Establishments Act/Factories Act.
5.A photocopy of Registration Certificate for deduction of Profession Tax (if applicable).
6.Bank statements of current and saving accounts for the last 6 months.
7.A photocopy of Certificate of Practice (if applicable).
8.A photocopy of any bank loan (if applicable).
9.A photocopy of the first and last pages of the Ration card or a copy of PAN/Telephone/Electricity Bills.
10.A photocopy of LIC policy (if applicable).
11.A photocopy of investments (FD Certificates, Shares, any other fixed asset).

After having the complete knowledge of the detailed documents you can arrange these documents on time or before time with you or get verified by the required authorities so that there would not be any hassle while applying for home loan.

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Wednesday, November 21, 2012

How to Negotiate the Best Deal

Taking a home loan is a very convenient proposition for the people who want to buy the home for themselves. The government encourages credit off take in the form of property loans and, though the banks have their own set of eligibility criteria for giving these away, there is no disputing the fact that the many people have found their dreams of owning a home in a upcoming project like BPTP Princess Park come true by availing the home loan facility. Here are some tips on preparing yourself financially for taking home loans.

If the need is for owning a home and not to pay the rentals, then the obvious choice is to opt for home loan which would have a dedicated EMI, equivalent or more than the monthly rental. If you are taking the home loan with a perspective that the amount which you are spending in rents will go to the funding of your own home, then you shall ideally check out EMI-Rent gap, in case the EMI is more, you need to consider how would you raise the additional sums? With stagnation in rental rates and the increase in EMIs rates, this gap difference is increasing and the people shall take notice of it, if owning a home is not a primary task.
Secondly, there is also a need to keep EMI of some months as back-up. Ideally, the minimum back-up shall be of 3 months. This cushion is required in case there is a loss of employment or income. It provides safety for the intervening period till the time alternative arrangements are made.

Thirdly, most of the projects are financed at about 85 percent of their costs, requiring an initial down payment of about 15 per cent from the buyer. However, you can opt to make the more or less down payment depending on whether you can pay without any financial issues or not. Further, for arranging the down payment, you shall be prudent to use those savings which are giving you less returns.

Fourthly, you shall be prudent to take the loan, within the reasonable limits of what your take home salary is. Ideally, one-third of the salary component is considered to be feasible for paying the EMIs. Therefore, the loan shall be taken of that sum and for that term, at a particular rate of interest, that is equivalent to this component of the take home salary. There is no rule of thumb and the general rule is that the measure of loan shall be such that its EMI for residential units at the BPTP Princess Park Faridabad can be paid easily for years to come as the usual loan tenure is close to 10-15 years.

While taking home loan can be easy, it is better to be prudent in taking the loan and weigh all financial aspects clearly. It is better to be conservative and extremely rationale and the decision shall not be based on flimsy or highly ambitious grounds which can lead to financial problems later on.

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Biggest Mistakes that Buyers Make

As victory of an apartment investment is built on its current and future earning srange, to get this achievement you must evade the 7 major and most expensive mistakes when buying an apartment investment (and other types of investment property) that histrionically influences the returns of an investment.

Let’s take an example of a small investor such as husband and wife or an individual that purchases a 4 unit building; to a large investor such as a REIT or an investment partnership that buys an 800-unit building, obligating these incurable mistakes can lead any size offinancer or apartment building to encumbrance and failure.

Investigation the local market that you choose has good arcade judgement opportunities. Hire the best local escorts to give you advice and direction on the best locations to purchase property. If you decide to purchase outside your local area, then get connected with a local partner that knows the area to help decrease probable perils and amazements.

Look at several properties for sale before deciding on a property to buy. The more properties you look at, the better understanding of the real estate values in the market you would possess.

You need to put abundant impartiality into the purchase so you do not put too much pressure on the property to cash flow. If you do not have the impartiality, find a partner that does. Usually 20% or more cash down payment will permit for the property to cover all the monthly bills comprising cash reserves and a very small net positive cash flow. Put together a financial model that contains your genuine break even point to give you a good sign of the amount of fairness you will progressively require.

By having complete knowledge and information about these most common reasons for an apartment building to offended and have problems, you will be able to avoid the troubles and make money on your investments...

1.Purchasers donot investigate anything ahead of time from the apartment they purchase to the real estate agent they select. Choosing the right real estate agent or is key when it comes to purchasing apartment, Hence, you need to make sure you choose an experienced real estate agent.

2. Purchasing simply because it’s a good deal instead of getting something that suits your family. The market may change so that you want to purchase an apartment that will work for you even if the market averts you from selling it as initially planned.

3. Picking up a poor location. It is authoritative that you really look into the area you are assuming moving to. Do not just look at the neighbourhood or locality; look at the street and building.

4. Identifying a book by its cover. Do not allow fancy bells and whistles allow you to make concerns in regards to functionality, floor plan, etc. Just because a unit has stainless steel appliances in the kitchen doesn’t mean you can deal with a closet-sized bedroom or unusual floor plan.

5.Failing to have your apartments appropriately examined. Make sure you have an assessment done by an experienced professional.

6. Look into the facilities offered by the buildings you are considering. Make sure you give preference what you actually can and cannot live without.

7. Not being patient during the apartment purchasing procedure. Do not permit frustration to cover your judgment or cause you to make imprudentre solutions.

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Tuesday, November 20, 2012

10 Things that should beknownbefore Buying an Apartment

Once you start spending some time in renting business you’ll realise that you should stop flinging away money on rent month after some time, and buy a house or an apartment. If you are going to buy your first apartment ever, then in this article will show you a check list of things that you should authenticate before purchasing a house. I have studied all such things because in future I would want to buy an apartment for myself, and I want to be well known of things that I need to know before purchasing, evade hostile surprises and of course capitalize carefully in my future.

•You need to decide on the area you want to buy an apartment like how much space you would want to buy or you can also do some study on the specific location of your home. Does it suit you in every manner? This might include spending some time in that area or at least doing some study at home and getting some information about the locality.

•Before you go for a buy, research the market to make sure you are getting value for money. Talk to independent valuers and real estate agents, and check latest sales in the area. Do not trust on advice from the developer or their agent. This is principally significant if you are buying off the plans. You want to know that the value of the finished apartment will reflect at least what you paid.

•Visit as many places as you can look for properties that suit your criteria, so you will have a better idea of what your money can buy.

Now let’s assume you have found an apartment for you …

•Check that the property you are interested in is close to the facilities you require, for example shops, public transport, parks, hospitals, schools, work, gym, etc. – Anappreciated tip if you are willing to earn some time.

•When you are about to choose to live in an apartment deliberate whether the building is close to clubs, cafes or other live music venues. What is the amount of passing traffic – will it be noisy at peak hour? Will your lifestyle get influenced by the noise in environment? It is a good idea to arrange an assessment of the building during the evening or during peak hour traffic before you agree to the purchase. – Now I have an apartment near a non-stop bar, and from time to time people get drunk at night and make a lot of noise.

•How old is the building? You should consider the age of the building. Are any facilities likely to require repairs or replacement? It is strongly recommended that you obtain an architect or engineers report on the building before deciding to buy.

•What are the security measures for example, can anyone walk into the building? Are there any security cameras?

•Does it have a balcony so you can enjoy the view or afternoon sunshine? Or are you blocked by other buildings or facing the wrong way for the sun?

•What are the maintenance charges? Many people don’t think at this aspect when they buy a new apartment. They would usually cover the municipal tax, property tax, assessment tax, water charges, common electricity charges, elevator charges and charges for hired help, like the garbage cleaner and security. Find out how much is the maintenance charge, what is includent and now included in the charge. For example, car parking charges may be isolated.

•If you have your own vehicle this must be an important question to ask. Will car parking be provided and do you have to pay extra for it? Check with the seller of the apartment if his/ her parking niche will be made available to you. If you’re previous owner did not have a vehicle, speak to the administer of the society and ask for a parking slot.

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Monday, November 19, 2012

How can builders prevent the delays in construction?

The people who have booked for the residential flats would know that getting the possession in time is not the general trend. Delays of months, and in some cases, of years, are not surprising. The builders are required to offer the possession in time even by the courts failing which they are required to pay the compensation to the buyers. Since the compensation amounts can get really high and the reputation take a dip, the builders prefer to take all necessary measure to not just give the possession in time but also ensure that the quality of construction is not poor. Poor construction resulting in damage to the unit before the possession in given to customer can also win the compensation for the consumer.

Here are some of the things which the builders, such as Shiv Sai Ozone Park Faridabad, do to meet their deadlines:

1. Phased construction of project: The builders might not start all the towers in one go. They might divide the whole project construction into phases for providing the possession. So, some buyers get possession in a year, some others in next year and so on.

2. Ensuring material supply: Shortage of material is one of the main reasons for project delays. However, this can be prevented by making arrangements as well as contingency arrangements for getting the required materials well in time. Since the projects take years to complete and these are mega projects requiring a lot of committed material supply, the builders such as Shiv Sai Ozone Park prefer to have a number of material suppliers who can deliver uniform quality materials. Sometimes, even the choice of materials can make a vast difference to the completion of the project in time. So, if the builders use tiles instead of marble, there is direct saving of material cost as well as labour cost and time which would have gone into the working on marbles.

Similarly, pre-arrangement of earth moving and construction equipment of the latest technology can ensure that the initial site development work and the erection of structural framework is completed in time.

3. Practical Project planning and execution: In order to deliver the possession in time, the project planning and execution has to be meticulous. This is possible only when reasonable provision is made for time lags and delays and it takes into consideration all the likely and unavoidable delays due to a number of reasons. Expertise and experience of project management count here. A dedicated team of professional working in consonance with each other plays a vital role.

All in all, it is about the marshalling of resources and using them in the most optimal way which saves costs and time which makes it possible to give possession in time.

Why Group Housing Apartments Are A Big Hit in Indian Real-Estate Sector?

Group housing societies, often the multi-storey buildings developed by the builders have changed the urban skyline in Indian cities. Whether it is the metropolitan cities or the tier II and III cities, all have been the focus of multi-storey real estate development in the past decade or two. Faced with the prospects of rising demand for affordable housing and the big demand-supply gap, the government allowed the private sector to play a major role in the development of the residential spaces for people. The enactment of laws and bye-laws pertaining to the establishment and regulation of the housing societies has made it possible for the people to have clear titles to their apartments, facilitating the development and sale of these units such as Omaxe New Heights Faridabad. Some of the main contributory reasons for these apartments being a big hit in the Indian realty sector are:

1. Existence of vast middle and upper middle class segment which requires affordable housing. The Indian middle class provides a vast market for the sale of products, including the realty products such as group housing apartments, as at Omaxe New Heights. This provides a big opportunity for the realtors to sell their units to the buyers.

2. Concern for security: The people are also driven by their concerns for security for living in these apartments. Presence of a number of security taff, use of electronic and automatic monitoring and surveillance equipment and well established procedures and rules of security management, are some of the obvious benefits of living in a group housing society as against the independent homes.

3. Sky rocketing prices of independent homes which have gone out of reach of many people. The price rise has been disproportionate to the rise in the income levels of the people which has forced many a people to look towards living in multiple storey living spaces.
4. Liking for Community Living: High rise apartments have high density of population. These provide good avenues for people to form groups and live together in a community. It has been seen that the sense of community living is stronger in people living in apartments as compared with those living in independent homes.

5. Modern lifestyle can be enjoyed in vast spaces, which is not possible in all or most of the average independent homes. The modern societies, like the ones coming up in Greater Faridabad region, provide the best opportunity to make use of amenities like spas, swimming pools, play areas, gymnasiums and others within the precincts of the society itself, without having to go out.

6. Limitation of land availability for developing residential real estate horizontally and the increasing demand for residential spaces has made the authorities allow for construction of high rise residential apartments like Omaxe New Heights. This has increased their supply to meet the high demand levels of people.

Friday, November 9, 2012

Why real-estate projects get delayed

Real-estate development in India is often criticised for poor planning which results in delays in project completion, much to the chagrin of the customers. While some reasonable delay in the projects is understandable, there are delays beyond a reasonable time frame which annoy the customers a great deal. There are provisions in the laws wherein the builders are required to pay the compensation amounts to the buyers, if the projects get delayed beyond a specified time. But, have you ever wondered what are the real reasons for the projects to get delayed? Were these reasons within the control of the builder? A look at these reasons can help you determine whether the delay was due to some justifiable reason or due to poor planning and management of the builder. Some of these reasons are examined below:

1. Weak supply of inputs: There are times when, due to a lot of demand for the construction inputs and equipment, there is a shortfall in their availability. This puts a big constraint on the project timelines as the construction activity can not proceed in the absence of these inputs. This factor is not easily known to the common investors and it is only when the builders offer clarifications on this reason that it becomes known to the investors or buyers. This reason can not be attributed to the poor management of the builder since the builder is expected to have explored all the options for meeting this shortfall.

2. Less Sales: If the sales of the units of the residential units pick up, such as at SRS Royal Hills Faridabad, then there is a good flow of funds which speeds up the construction activity. However, when the demand is sluggish and there is not enough sale of the units, then there is cash flow crunch which delays the project as financial constraints become overwhelming.

3. Under-developed region: Development of an area or region, especially in terms of infrastructural facilities such as roads, electricity, sewage, water supply, etc, plays a direct and significant role in the timely project completion. Due to the lack of development on these fronts, say for laying down of roads, even the builders would be reluctant to initiate the project till the time the road level is not decided. Fast infrastructure development leads to increase in number of queries and brings in more bookings. This acts as a catalyst to the builder to complete the project in time. But, development of infrastructure is the responsibility of the state and the real-estate project owners such as SRS Royal Hills do not have much control over this factor.

So, when your project is getting delayed, you shall first approach the builder directly and seek the reasons for the same. The builder shall be able to provide a reasonable, practical and verifiable reasons of the same.

Wednesday, November 7, 2012

Are independent floors higher up the value chain than flats?

Independent floors are constructed on a piece of plot and the whole of the built up area of the floor is developed as a single residential unit. Before the major housing groups dwelled into the construction of these projects, it were the individual builders who would take up a plot of the land, build it completely into a multi-storey home and then sell each of the floors to different people. With the entry of construction groups in the independent floors niche, such as BPTP Park Floors, the usual association of these units with the individual builders underwent a change and the association was now more with the housing groups that had initially focused on developing multiple storey flats.

Since the movement of construction for independent floors was from the independent homes, which were dearer than the flats, the former were considered to be higher up in the value chain than the flats since these provided more satisfaction than living in a flat. These were generally taken to be more luxurious since these were dearer and spacious than the normally flats. At the same time, these paved the way of low-density housing with better utilization of resources and, hence, these provided a better quality of life. There was a definite upward movement in the value chain as compared with the flats. Do these BPTP Park Floors apartments still provide good value?

As the real estate market has matured and there has been entry of the private players, there have been a lot of variants of these floors. On one hand, there are projects such as BPTP Park Floors Faridabad are no longer carrying the luxury tag or are being made in the spacious plot sizes. These come to you in the same area as a flat would come. And, BPTP is not an exception to this rule which is now being widely practiced. In the plot sizes equal to the area of a flat, the developers are constructing the independent floors. On the other hand, there are floors-projects which offer an ultra-luxurious lifestyle to the people. These are far higher up the value chain. So, there is no fixed pattern on whether more or less of value is added by these types of residential units. However, some features such as greater levels of privacy, common security and maintenance as a society and other similar features, all common to all variants of this type of project from the various builders.

Growth of niche segments of population, who prefer to lead a more quality life, with higher privacy and security and in a lower-density neighborhood than that of flats, has given the impetus for the construction of these floors.

Why group housing societies provide recreational amenities?

When the group housing sector in India was still in its infancy and it was the government which created the flats for the people, there was nothing much to be had in the society except for internal gardens and a common room for holding small parties and holding discussions. The essential focus was on developing the societies solely for residential purposes. The situation has changed a lot since those times. It has become quite a trend that the modern housing societies provide a wide array of facilities in their projects for the benefit of the residents of the society. Take any residential property, be it the Omaxe New Heights flats, or the independent floors, two of the most common variants of the property, there are a number of amenities provided for the residents who would be of different age groups. Be it the recreational or sporting facilities, such as swimming pools, sports facilities and equipments, spas and Jacuzzi, every modern society has these. And, there are good reasons as to why these are provided in the projects?

Urbane, Modern Living
By providing these amenities, the builders try to the best international standards housing to the country, offering the residents world-class urbane housing. People have long lived in the homes made in the traditional way. With the changing times there is greater consciousness about the quality of life and higher standards of living and this is sought to be provided by the builders in their projects.

 A more inclusive approach toward living
Today the people are short of time and they would certainly be willing to take the burden of walking or driving appreciable distances everyday for getting even the basic amenities. Whether it is the morning exercise or the evening walks, shopping needs or even the requirement of taking out the cash from the ATMs, they are short of time due to hectic schedules to take time out for doing these activities away from their living places. For this major reason, you can find that the modern societies permit good and healthy living by providing health-oriented, recreation-oriented and utility-oriented facilities within the premises of the society. This inclusive approach of societies, say Omaxe New Heights Faridabad, is also required when the projects are taken up in totally new areas which have not been developed much.

 Community cohesion
Gated communities provide a chance to live and enjoy the amenities together. The people from different regions, having different cultures and of varied beliefs come to resident in a society. The existence of these amenities in a project is meant for the use of these people and this facilitates easy interactions among the people who live in distant flats. The people come to know each other as they come together to share and enjoy these amenities.

Monday, November 5, 2012

Variants of the independent floors type of housing

Independent floors are one of the many types of housing variants. These resemble closely to the flats or apartments and, positioning-wise, these lie between the independent homes and the multi-storey apartments. With no lateral neighbours who can be approached on the same floor, the independent floors hold their own privacy and distinction, as compared with other types of housing. However, even while the concept of the independent floors has remained the same over all these years of the real-estate boom in India, there have been some interesting and noticeable variations of the same which have emerged over these years.

1. Independent homes converted into independent floors: The first independent floors were perhaps the ones which were parts of the independent homes itself. As the population pressure on mega cities grew over a period of time, the government permitted the sale-purchase transaction and separate registrations of the floors of a home so that limited land space can be used in a better way for housing more families which migrate to the cities. The private individual builders as well as home-owners constructed the full storey homes and then sold these as independent floors to the different parties.

2. Low-rise, Mid-income catering floors: While the former was a result of converting the homes to floors, the builder groups got this innovation into creation of the floor-system based housing structures in groups. Due to the limitations of the number of storey which can be constructed, these were essentially developed as low-rise buildings, essentially on the ground plus two or three format. Further, since this was a new experiment in those times, the prices were kept low as the target was usually the large middle and upper middle class segments of population. Projects like the SRS Pearl floors Faridabad were of this profile.

3. Mid-rise, Mid-Income and Luxury housing: As the projects began to be sold out fast, the builders found it opportune to increase the elevation of their independent floor projects to cater to increasing demands and also moved up the value chain, by taking a step towards making more luxurious offerings.

4. High-rise, luxury floors: As the number of millionaires who could afford the luxurious independent floors grew and who want to live in the company of similar profile people with all modern amenities of life, there was a niche segment developing which required development of spacious independent floors with luxury elements and much taller in height. With this the independent housing carved out a different niche from the one which was earlier carved out by SRS Pearl floors.

The variations are still continuing as the developers experiment with new concepts and aim to target new niches. One can now even have the independent duplex floors in the high rise luxury segments with private pools.

Friday, November 2, 2012

Why pick dealers ahead of builders for property transactions

Dealers or agents are not the product owners and they earn commission on selling the products of others. They operate locally and are closer to the market. When you look for purchasing a property, you would invariably turn to the dealers to know what are the various options available for sale in the market. It is the dealers who can give you the first leads since the sellers of the properties approach them with their requirements. There are certain benefits of buying the property from the dealers even if it means paying them the commission or getting lesser discounts on apartments like BPTP Resort Faridabad.

At first, a dealer has a wider range of options of properties. If you approach a builder, he will only be interested in selling his own inventory and would not be giving any other option. At the most, the builder would give you the option of investing in some other project at a different location being developed by him. But, you shall never expect him to show you the way to the other builder. This is what the dealers can do. They are in a position to show you properties from various builders out of which you can make a selection of the right one.

Second major advantage is that for the under-construction project which is still not completely sold out yet, the dealers would be able to tell you which party is willing to quit the investment and sell the property at cheaper than the market rates. When you approach the builders, you might be offered the new flats for buying which brings them more revenue. The builders might not mention about the resale flats on offer.

Third benefit is that the dealers usually operate in a particular area and know the locals in the area quite well. By virtue of their understanding of the market and their relations with the locals, they are in a better position to bring more sales from their area. A builder might be developing a new project in the area such as the BPTP Resort and therefore, might depend on the dealers for using its reputation to effect the sales.

Fourth, the customers can themselves move around to the offices and projects of the different builders to get the details of the projects and prices. But, this will bring more hassles and could be a tiring exercise. Further, you might not be able to get information about those projects which are located far off. It is the dealers who provide the single stop solution to help you search the right properties you want. After short-listing a few properties and leaving out the others which are not suited for your needs, you might undertake a visit to see these in real which will save you time and effort.

Reasons for price appreciation in real estate in the Greater Faridabad region

For the people who would have come to the Greater Faridabad region about three or four years back, when the projects were still in their infancy and not much of construction activity was visible, there is an element of surprise in store as more and more of the buildings have started dotting the skyline. The initial scepticism of the people pertaining to the development of the region fast enough to be worthy of investments has now been replaced with the certainty of growth and development. This is one of the contributory reasons for the rise of prices of the real estate projects such as BPTP Princess Park.

The 2 BHK in BPTP Princess Park, which was priced at the time of launch at Rs 18.27 lakhs has now risen to almost the double that amount, at Rs 39.15 lakhs. This price rise is not unique to the BPTP Princess Park Price List but can also be found in the price lists of most of the other societies. Some of the main contributory reasons for this appreciation can be better explained at the project level as well as the regional level. While at the regional level, the increase in demand is playing a chief role, at the project level, it is the features of the project which determine the further appreciation of the prices of the units.
Let us first look at the factors at the project level, which are influencing the prices of the residential units. The brand name of the builder, the amenities provided, the spaciousness of the residential units, the nature of fittings and fixtures and the overall ambience of the units as well as the project, determine the extent to which the price appreciation will happen for a particular project. The projects of reputed developers always command a premium and there is more rate appreciation for them, even if it is a marginal increase.

At the regional level, it is the locational advantages, the development of infrastructure facilities such as electricity, water, sewage, telecommunications and transportation and the external environment (such as the government policies) which chiefly determines the price increase since these directly affect the demand levels.
It has been seen that the extent of regional development is the main contributing factor for the price rise of the real-estate. The project level differences in rates are marginal across different properties. So, if the government initiates steps to boost the infrastructure for quick regional development, the demand levels pick up since the people expect better returns from a fast developing region rather than the one which has not been developed.

So, for the Greater Faridabad region, it is the commitment shown by the government for developing the infrastructure that has resulted in increase in the prices of project units. The fact that the 2 BHK in BPTP Princess Park is spacious and aesthetically appealing is a less important reason for the price hike.

Thursday, November 1, 2012

Real-estate projects of the Ansal Group

The Ansal Group has been engaged in the development of real-estate sector of Delhi, the capital of India, since the last four decades. The group has diversified into a number of segments of real-estate and is involved in a number of projects in India. Beginning its journey from the corporate real-estate, it has now diversified into segments such as townships, group housing societies, villas, independent floors, hospitality real-estate, commercial real-estate and infrastructure development projects. Let us have a look at what are these projects and where are these coming up?

The integrated townships of the company have been developed or are being developed at Amritsar, Pathankot, Moradabad, Jaipur, Gurgaon, Gwalior, Jhansi and Kochi. This shows the diversified spread of the project across north, central and southern India. These integrated townships are expected to provide the residents with congestion-free housing, well developed infrastructure and hygienic and aesthetic surroundings.
Group Housing
Ansals have also been into the group housing residential schemes as well. Their projects include Ansal Crown Heights Faridabad and Royal Heritage in Faridabad (Haryana), Meadows in Kullu (Himachal Pradesh), Florence Apartments in Jammu (Jammu and Kashmir) and Harmony Homes in Gurgaon (Haryana) in the northern parts of the country, centered mainly in NCR Region and hilly states. In southern India, it is developing Ansal Forte in Bangalore (Karnataka) and Florence Heights and Garden View Apartments in Kochi (Kerela). These projects like the Ansal Crown Heights are the multi-storey apartments offering different variants of residential units, such as 2, 3, 4 BHK apartments.

The Ansals group has a major representation in villas segment of housing in the Millennium City of Gurgaon. Florence Elite, Eden Villas, Oriental Homes, Oriental Villas, Florence Abode, Florence Villa and Florence Marvel are the villa projects of Ansals in Gurgaon. Besides these, the group has villas projects in Amritsar (Royale Villa), Dehradun (Green Valley) and Jhansi (Ansal Basera Estate). Though the villas are luxurious by the very profile of the property, there carry different price tags.

Independent Floors
When it comes to the independent category of real-estate, most of the residential projects developed by Ansals are in Gurgaon. Outside of Gurgaon, the only location where the Ansal independent floors are present is at Ansal City at Kochi in Kerela. In Gurgaon, the projects are: Flexi Homes, Executive Residency, Royale Residency, Sushant Residency, Florence Residency, Silver Crest, Florence Residency, Shalimar Residency Floors, Sushant Floors and Royal Cassa.

Hospitality and Clubs
Ansal group is also involved in the projects of recreation and leisure. The Club Harmony and Club Florence in Gurgaon and Riverdale Club in Kochi, Kerela, are some of the projects in this category of real-estate.

Commercial Projects
The commercial projects of the Ansals have been centered in Gurgaon only. There has not been any project outside of this city. Ansal Boom Plaza, Ansal Sushant Tower, Boulevard Centre and Ansals Navkriti Arcade are the commercial projects in this city.

Besides these residential and commercial projects, the group is also engaged in the infrastructure projects of rail link in Jammu, Hydel power in Dharamsala, Russian Colony at Rishikesh and a number of other infrastructure projects.