How To Buy Real Estate In Mumbai

In the present scenario real estate is contending as a prosperous business. It is also one of the most lucrative business schemes now. The present economic condition of the nation encourages buying of real estate for the people. The cities of Mumbai, Delhi, Kolkata, Bangalore, Hyderabad and Chennai in India are some of the top profile cities for carrying out real estate buying and selling. If Bangalore ranks at almost the top position Mumbai too is not far behind. Whether buying a real estate for immediate use or for selling it later at the proper time, Mumbai is promising.

It is important to know how, when and where to real estate Mumbai. How profitable is it to involve in real estate at Mumbai leaving aside the other big real estate promising cities of India. Congested cities like Mumbai are seeing the scientific rise of suburban areas for real estate like Pune. A proper observation would reveal the correct status of Mumbai.

Mumbai is a large place which has been a witness to several historical incidents for many centuries. Mumbai formerly known as Bombay is made up of an isthmus joining a conglomeration of seven islands. This has made the south of the city unavailable for land. It is thus an island city on the Konkan coastline. Now the islands have joined to form one city. It is now the largest city of India with a population of about 17 million people. It is the most culturally accommodating and the greatest cosmopolitan city in India. Why is Mumbai a haunt for real estate? Mumbai contributes to 20% of India’s industrial outputs. It contributes to 40% total income tax collections and helps in 70% of capital production of the country. It is in simple words the economic hub of present India. With so much in its bag it becomes the haunt for real estate buyers.

Mumbai’s geographic conditions also make it suitable for settlers. The weather conditions are warm to moderate throughout the year. Being situated near the coast it is fairly pleasant all throughout the year. Most importantly, the geographic area serves as a boon. It being a natural harbour shelters India’s maritime cargoes. Thus it is an entry and exit point for foreign trade. Its international airport connects the world and transports in and out a huge population. Mumbai’s good transport system and way of living attracts people from all over to buy places here.

Some of the most important financial zones of the country like the Reserve Bank of India, Bombay Stock Exchange and National Stock Exchange are located in this city. Some of the top corporate sectors and the top educational institutions are present here too, ensuring a steady flow of job employees and students. Mumbai is also one of the leading and very popular tourist spots of India. This fetches great business prospects too. Not to mention, the country’s probably the biggest industry, the Bollywood industry competing with Hollywood. These factors have named Mumbai as India’s New York, pouring in a plethora of real estate seekers.

Before the Mumbai attack some years back, the country faced a global credit crisis. Investor interest was also slow. The attack caused a jolt. It is believed to have a huge impact on the real estate market in the city. The cross border business declined there was a decline in real estate market according to experts’ words. However, the place had seen a revival in real estate soon after. Later, the industrial slowdown has not been able to cause any big impact on the real estate market. The ultra high end of the city has almost remained untouched by this slowdown. Now there is competition between overseas investors and high net worth individuals for the ultra high ends.

One of the mostly favoured areas in Mumbai is old South Mumbai. This comprises of Altamount Road, Peddar Road, Carmichael Road, Kemps corner, Nepean Road, Breach Candy, Malabar Road, Walkeshwar, Colaba, etc. South Mumbai has a lot of availability. Here new and old both types of apartments are available. Those who require schooling availabilities choose Bandra-Juhu locality over South Mumbai. The next important location on basis of preference is the belt comprising of Lower Parel, Parel, Mahalaxmi, Sewri, Worli and Prabhadevi. These areas are generally preferred by those people working in Central Mumbai and Multinational Companies willing to relocate. Here the buildings and apartments are brand new. The other important locations mostly for management sector people are the areas from Bandra, Santacruz and Juhu, Khar and Powai.

Some of the top high profile buildings like American School of Bombay, British High Commission and American Consulate are situated in these areas of Juhu and Bandra. Many good quality semi new buildings and apartments also lie in this zone making it a desirable and most sought after places at Mumbai and a favourite among Expatriates seeking relocation. Borivali and East and West Andheri are those localities where individual leasing activity is most observed.  Most of the owners of premium apartments prefer renting their apartments to employees of companies and to companies themselves. This is because default risks in these cases are almost nil.

Mumbai being a land of various industrial sectors, the leading one being the film industry or the famous Bollywood industry the demand for a place is real high. There are also good educational sectors and job centres in Mumbai and nearby, making it a place of high demand. The demand for space here is not temporary but a permanent and ever growing issue. Land in Mumbai is available at a premium. As a result the outskirts are developing themselves at a rapid rate to provide accommodation for aspiring dwellers. The south of Mumbai is the most sought after places for real estate. Looking for real estate at these outer areas is a good idea of sorts.  These areas would not only develop largely soon but also bring a good return in the near future. Prices would often come up and down and it is to be judged well before hand to have a great buy.

How To Buy A Flat Without The Help Of A Real Estate Broker

Quite a few real estate buying and selling transactions are made in a year without involving a real estate brokers in the business. Hiring an agent requires a lump some amount to be paid for carrying out the deal by the buyer. Sometimes the seller too needs to pay some amount to the real estate agent in this business. Some buyers especially those buying a real estate for the first time do not trust real estate agents and may seem to be tired of them. At times such feelings may be proven true if the agent is interested only in closing the deal and not interested in the deal. But, this is not the case with most agents. There are certain risks involved in working without an agent, which however can be overcome. All the paper works have to be done by the buyer himself/herself. Negotiations have to be done and many more such works. However a few things kept in mind will help a buyer make a nice buy without a real estate agent.

• Pre-approval mortgage: Once the mind is made to buy a flat it is necessary to be pre-approved for loan. It would not be certainly possible for anyone to offer full cash for buying a flat or house under normal circumstances. A pre-approved mortgage will ensure how much amount one is liable to get. This will help in making the deal in future while making an offer and negotiating with the seller. This secures the financing part. This will also provide assurance to the seller that there is back-up for the offer and that the buyer is a genuine buyer.
• Search for flat on sale: Now a search for the flat of your choice should be made. There a wide range of sources to search from. There are real estate magazines to look into. Those on sale by owners should be considered as the deal is going to be carried out without an agent. Then there are the newspapers who publish advertisements from sellers in both real estate sections and classified sections. Some real estate websites online provide advertisements with great details and are really good sources to rely on for flat buying. Lastly, one could take a tour at desired localities to search for flats on sale.
• Contacting the owner: This is a short but nevertheless a very important step. The owner is to be contacted once a flat has been targeted. It is necessary to talk to the seller and clear all doubts that arise in the mind before seeing the flat. After the talk make an appointment for viewing the place.
• View the flat properly: Once the talk is over it is time to make a complete tour of the place that the buyer wishes to buy. It is really necessary to see the place in person. The place could be visited on the own or the seller or listing agent could be taken along with for making the tour. However if the listing agent is asked for accompaniment make things clear beforehand regarding the pay. He might expect the pay that was supposed to be paid to the agent not hired in this case.
• Look for an attorney: A real estate attorney is a must while buying a house or flat even if an agent is not required. This attorney should be hired before the dealings have gone too far. It is better to hire one as soon as the choosing and contacting the owner of the flat is made. The attorney will be essential in making the final deal and as soon as the paper works start. For verifying legal matters and the authenticity of the whole transaction an attorney of real estate is necessary.
• Offers and negotiations: Once the right flat is chosen according to the desire it is time now to make the offer. Let the offers be made in clear terms without keeping any grey areas. The offer should be less than the listing price as the seller would not require paying the buyer’s agent as there is no agent involved in the whole dealing. Make the negotiations wisely until an agreeable term is reached. Make sure that all contingencies are included in the negotiation. It will save the buyer’s money if the deal falls for any reason. Everything should be put down in pen and paper. The legal attorney’s help should be sought in the matter.
• Inspection and appraisals: The inspection procedure comes up next. The buyer needs to be present in both of these along with the real estate attorney. Since an agent is absent the listing agent could be cajoled into take some extra effort.
• Contract and closing: After so much hard work it is time to close the deal. The attorney should check and review everything properly before the signing work begins. There might be quite a lot of papers to sign on the part of the buyer. The seller requires some signing too. Let everything be put down in writing. The mortgage will be processed and the deal will be closed and the flat finally belong to the buyer.

Buying a property is not impossible or difficult without the involvement of a real estate agent. There are myths flying everywhere regarding the cons of buying houses and flats without hiring an agent. These are only myths and one must look beyond these if serious buying of flat is in mind of a person. The secret is to know the tactics of real estate purchases and the legal matters by heart and soul. This knowledge would never let the buyer be deceived in any way. It would also not require hiring an agent and thus prevent paying extra that is the agent’s due. Involving an attorney is a must however. The simple guidelines given above would certainly be beneficial for an aspiring buyer of a flat to undergo a deal with courage, especially for first time buyers. Be courageous and be independent.

Investment Interest In Apartment And Plots In Bangalore

The anticipated outcome of the general elections conducted in 2014 has led to a soaring of the share market and a rise in the value of rupee and strengthening foreign currency, more NRIs are inclined to invest in residential properties in Bangalore. The city is viewed as a premier market destination and checks off a number of boxes as the city to invest in.

The investment climate is healthy along with regularly expanding job scenario and better civic infrastructure, large platter of residential realty projects to pick from and an urban and active lifestyle is what is leading the cause for Bangalore as an attractive destination for real estate investment.

Premium locations for Residences

Although there are several older neighbourhoods which have retained their posh tag, several new locations have also been included in this group as they offer lifestyles comparable to that available abroad along with high quality social infrastructure.

Director of Silverline Realty, Zahed Mahmood has listed out some premium locales that NRIs consider such as Sadashivnagar, Jayamahal, Dollars Colony, RMV IInd Stage and RT Nagar and to a good extent, HRBR and HBR Layouts. Never areas such as Bellary Road, Jakkur and Hennur Road are also popular among NRIs. In short, areas in east and north are more preferred by Indians settled abroad.

While considering properties in the east, NRIs are still much convinced about Whitefield as enquiries about properties here pour in every day and many NRIs have already moved in here. Indiranagar is another preferred location. Places around Hennur Road, Whitefield and Thanisandra Road and areas along the 2 important technology parks are places where people prefer to invest. There are numerous luxury residential projects taking off in this area.

Conveniences and Lifestyle

Whitefield is mostly attractive to buyers because there have been a bunch of launches that offer good products. The business environment is quite rich here and there are many large facilities situated here that have good upcoming and established infrastructure in large malls for retailing.

Social infrastructure such as presence of renowned international schools, easy exit and entry to workplaces and airport, high quality finishing of property development projects in this price bracket and the lifestyle offered add up to increase the value of an apartment here. Open space for kids to play in and proximity to property where friends and relatives have bought apartments also become deciding factors in the purchase of apartments here.

Potential for Considerable Appreciation

Given the limited supply both currently and in the near future, Richmond Road, VittalMallya Road, Sadashivnagar, Ulsoor Road, Cunningham Road, Kormangala and Indiranagar are extremely plush locations and there is no overhand of supply whatsoever.

The lack of over supply is leading to very high capital appreciation potential. Even though a luxury apartment in these premier areas might cost between INR 6 crores and INR 30 crores here, compared to premium locations in cities like Mumbai and Delhi, it is quite reasonable.

Preference for Choices

Almost 75 percent of property demand in these areas is driver by end users. The demand is mainly in the Rs 2 crore to Rs 5 crore segments which stated preference for gated communities and large apartments or villas.

A lot of investor activity can be noted in the increase in price in North Bangalore, especially around Yelahanka and Hebbal, where investor interest is high. Nevertheless, considering the mostly healthy characteristics of the market and better offering involved, the areas and their nearby locations are quite reasonably priced as they offer a plush lifestyle and rank quite high in appreciation of capital value.

Bangalore residents are mostly enthusiastic at times of investing in plots for residences. Of the 12 percent prospective buyers of land in the nation, almost 30 percent of them are in Bangalore. The buyers want to invest in residential plots not only for reaping healthy returns but also to live on the land after building a house.

When considering the prospects of investment in land, it can be safely said that the returns on land is much than that in apartment and hence it is a better option for investment. Bangaloreans seem to be taking this nugget of advice more seriously than others. 

Almost 28 percent buyers of residential property in Bangalore demand residential plots. The highest demand for this kind of property type is located in the West and Northern region followed by the South and East. The only region left out is the Central part which does not have land parcels available for selling.

When supply is being considered, west, south and north showed a slight shortage by around 2 to 8 percent while the east showed an excess in supply by almost 12 percent when compared to demand. In east Bangalore, the highest supply of this kind of property is in Hoskote, Sarjapur and Whitefield.

The maximum plots available in Sarjapur within Rs 10 to Rs 20 lakhs budget followed by that in Rs 20 lakhs to Rs 30 lakhs and then Rs 30 lakhs to Rs 40 lakhs. Within this amount, buyers can buy plots which are almost 5000 sq. ft big. A few options of 850 to 1500 sq. ft. plots are also there and they cost around Rs 5 to Rs 10 lakhs.

Hoskote is an area rapidly developing along the city’s periphery and it offers mostly residential property. Almost 90 percent of the residential development is in the form of selling of plots. The plotted developments have been started to be converted into apartments and combined with the infrastructural improvement like the upcoming Bangalore Chennai Industrial Corridor and Pearl Ring Road, the region is believed to bring in healthy returns in the near future.

Plotted developments do not form the majority in Whitefield, but they do form a chunk in the total land inventory available. As it is an IT hub, the area is a part of the most pursued localities in Bangalore and has shown an appreciation in capital value by roughly 16 percent in the past 1 year.

Apart from these localities in the east, there is a good supply of plots in areas like Mysore Road, Electronic City and Devanahalli.

Housing Demand In North And South Chennai

Like the rest of India, the realty market in Chennai is facing a dry spell in terms of appreciation of value. However, there are several localities which have seen a noticeable increase in the capital value of property. For example, Korattur in North West Chennai has reportedly seen a rise of twenty percent in capital value of property in the last one year. The per square feet rate of apartments in this area has gone up by almost INR 1000, from INR 4,900 in the time frame of January to March 2013 to INR 5900 in January to March 2014.

There are several apartments and areas which have undergone an appreciation in the capital value. There are several reasons to such a phenomenon, of which the top ones have been discussed here.

Redevelopment

The area of Korattur is going through a phase of redevelopment. The Tamil Nadu Housing Board has allotted plots in this area for building independent houses. However, these very plots are not being sold to property developers who are building multiple storey apartments on these plots.

In Chennai, Korattur has the maximum redevelopment which is why newer dwelling units are available here. However, the supply and demand gap is very prevalent here which has led to a price rise, according to Director of Sarathi Engineer, DhayaNidhi.

The buyers of property in this area consists mainly of IT employees whose base is Ambattur. Aside from them, local entrepreneurs and businessmen also prefer to invest in Korattur because of its closeness to Tiny Sector which is a premier industrial area in Chennai.

Affordability

People who can’t afford to buy property in Anna Nagar feel Korattur is a model alternative for buying apartments for living. As property in Anna Nagar costs sky high, Korattur has reasonable properties in which investments can be made.

According to available data, 2BHK in Anna Nagar of 1000sq ft. size will cost between INR 85 lakhs and INR 1 crore while Korattur has 2BHK apartments of size 800 sq. ft. within INR 52 lakhs. In the same way, a 3BHK apartment in Anna Nagar will be priced at more than INR 1 crore. However, in Korattur, the same flat can be bought within Rs 70 and Rs 75 lakhs.

Saturation point has been reached in Anna Nagar. No new development program is taking place in the region which is why property demand is getting dissipated to the nearest location of Korattur which has veritable amenities and infrastructure, according to a local broker Lalith Jain, active in this area. Not only does Korattur offer good connectivity to the rest of the areas of Chennai but it is also much affordable. Korattur has its own train station which makes going towards Chennai Central much easy. The area shall also be connected to the Metro Rail Network via Anna Nagar Metro Station that is just 4kms from Korattur. A lake and natural dense green cover add beauty and serenity to the area of Korattur.

Experts at the market believe that even though Northern Chennai has developed to become an industrial hub, the corrections in infrastructure planned in the future shall boost the realty market in the area.

Even though slow in terms of actual transaction, realty market in Chennai is very active in terms of the supply side. According to a recent report published, there are more than 100 projects lined up in South Chennai of which 77 percent shall be providing multi storeyed apartments while the remaining are independent houses and single floor units. The localities where the largest numbers of projects are coming up include Tambaram, Kelambakkam, ECR, OMR, Thiruvanmiyur and Pallikamai.

A local broker working here has commented that demand and supply in Southern Chennai has kept pace with one another. As the infrastructure is expanding and there is higher pace of growth coupled with availability of land, the southern half of Chennai surpasses all other areas in terms of new construction and preference. Developers like Alameen International, Urban Tree Infrastructures, Rajkhan Builders, True Value Homes and Sanjay Developers are active in this area. Most of the building projects offer 2BHK and 3BHK flats which start at Rs 15 lakhs and can go up to Rs 12 crores even.

Tambaram has 2BHK apartments whose price starts from Rs 15 lakhs while Kelambakkam and OMR have the same sized flat in 2BHK style costing Rs 20 lakhs Pallikaranai on the other hand offers smaller apartments at Rs 28 lakhs as starting price. Of them all, ECR is most costly as it offers apartments near the beach. There is a lot of planned development going around in the area which attracts old money for building villas here. The starting cost of property in the area is around Rs 80 lakhs although plots of land are available over here than cost between Rs 5 and Rs 10 lakhs.

The projects being developed in South Chennai have all sorts of facilities like swimming pool, club house, big lawns and gymnasiums. Most of these projects offer possession to buyers towards the end of the year 2015. Some of these projects might also be delivered in the upcoming 6 months in Tambaram and Pallikaranai.

According to owner of AK Real Estate, Khader Khan, South Chennai has the highest demand from buyers employed in the IT sector located in the area. Proximity to the IT hub and affordability adds to the plus points of the area. Moreover, the localities have flats to suit different budgets that arouse the interest of different buyers to invest in this area.

What works actually in the favour of South Chennai are infrastructure and connectivity. It boasts wide connectivity via a network of railway tracks and roads. The Chennai Suburban Railway’s south line network links most of the localities with Chennai Central.  Moreover, those people moving outside the city towards Puducherry could drive through the ECR or East Coast Road which is a 2 lane highway and located at a distance of 1km from Thiruvanmiyur. Prominent colleges and schools and industries in the area, South Chennai has begun witnessing increased demands of housing units.

Top 4 Areas In Bangalore For Residential Property

Closeness to work place, better connectivity owing to broader roads, flyovers and the ORR or Outer Ring Road have ensured that Bannergatta Road, Whitefield and Sarjapur are among the top preferred localities of Bangalore for residential purposes. The preference ranking is according to a recent publication of statistics on residential accommodation. These localities have been the most preferred localities for both the last quarter of 2013 and first quarter of 2014. Banergatta road, in fact, holds the top spot among all these localities for being the most preferred area among people living in Bangalore.

A major part of Bangalore’s residential market consists of 2BHK units in the mid-segment and 3BHK units which cost less than a crore. These apartments are mainly targeted at IT professionals who work in Electronic City, Manyata Tech Park and several other similar software technology parks. The demand and supply of apartments has been quite steady for the past few months which have kept the price in these areas much moderated.

Eastern part of Bangalore also has a fairly stable market in the mid-level segment while some other areas have a significant gap between demand and supply. In eastern Bangalore, the demand for apartments was mostly for those which were priced between Rs 40 and 60 lakhs and Rs 60 and Rs 100 lakhs. The supply for such apartments was much maintained. However, the demand for apartments priced between Rs 20 lakhs and Rs 40 lakhs was much more than what was in supply.

In South Bangalore, the supply and demand of apartments belonging to all categories was more or less constant for the first quarter of 2014. The demand for apartments in the price categories of Rs 20 lakhs to Rs 40 lakhs, Rs 40 lakhs to Rs 60 lakhs and Rs 60 lakhs to Rs 100 lakhs was consolidated at roughly 80 percent while the supply stood at a robust 74 percent across all categories of apartments.

Bangalore is a growing city which sees influx of thousands of youngsters every year who joining the flourishing IT sector of the city. The demand for rental housing accommodations and paying guest accommodations is quite high, especially around areas which have IT companies. Families mostly prefer 2BHK and 3BHK apartments which bachelors prefer staying in 1BHK and PG accommodations. Officials who are paid very handsomely every month prefer to stay in 3BHK apartments which are luxuriously done up.

Builders usually develop apartments in the residential community style which have landscaped gardens, playgrounds for children, departmental stores, gymnasiums and swimming pools. The luxury apartments are done up in tasteful décor and state of the art technology.

For apartments in the Rs 1 crore and more category, the supply of apartments was at 18 percent while the demand was at 15 percent. The market is quite balanced when compared to other areas. The demand for the Rs 20 lakhs apartments was at 7 percent while the supply was at 11 percent.

All the popular localities have their own advantages. For example, Whitefield has a number of properties available, such as 2BHK apartments which cost between Rs 45 and Rs 60 lakhs and even 2BHK and 3BHK units which cost lower than Rs 1 crore and luxurious villas and independent houses which run into some crores.

On the other hand, Sarjapur is mostly focused on the mid level category with some alternatives. Banergatta Road, on the other hand has wide cross section of budgets which are popular because of good connectivity to other parts of the city via broad roads and flyovers.

Another locality which is become a preferred choice of most individuals is the HSR Layout located in the south east part of Bangalore. In terms of real estate, it is one of the fastest growing. All kinds of infrastructure and amenities that are needed to make an area worth living in are present here. Properties of various budgets that offer good returns are present here. For renting and buying, HSR Layout is one of the most preferred locations.

HSR Layout has been consistently making the list of the top 5 properties in Bangalore for renting and buying. The capital value per square feet ranged from Rs 4000 to Rs 5,300 in the locality and the rental value is Rs 17 to Rs 27 per square feet. Affordability, strategic location and upcoming projects which offer viable prospects for return is what has made this area popular for people looking for residences.

Connectivity

HSR Layout is closely connected with adjacent areas such as BTM layout and Kormangala. It is also very close to Electronic City. It also falls along the way to Marathahalli and the Wipro Corporate Office. The Bangalore Airport can be reached within 22 minutes from here. Moreover, the railway station in Bangalore is located at a distance of half an hour from here.

IT Connection

HSR Layout enjoys proximity to Marathahalli, Electronic City, Kormangala and Sarjapur Road and it has a host of mid-range IT professionals living here. Most of the above mentioned areas are located at a distance of 6 to 7 kms only and hence attract a large number of IT professionals. Affordable housing and proximity to the IT companies is what attracts many IT employees.

Infrastructure

The area offers a peaceful living and sufficient social infrastructure. There are many banks, malls, schools, hospitals and other facilities within a 5km radius. Moreover, jogging parks and numerous eateries also make the area worth living in.

Welfare associations are also quite active in the HSR Layout area. This also helps to maintain the area on the top of the preferred residential localities chart. The monthly rent does not come out to be much and there are several paying guest accommodations available in the area that helps out people on a shoestring budget to stay. Moreover, landlords and building supers are very helpful and there are hardly any restrictions imposed on residents unlike cities like Ahmedabad and Chennai, which are quite particular about certain parameters such as non-vegetarian food and alcohol.

How To Sell Your House Without An Estate Agent

Property deals are very problematic and tricky these days. People are generally more anxious about buying property. They are more concerned about the nature of transactions and their sanctity. This has mainly happened due to the fluctuating and hazardous nature of the property market in recent times. Property markets have seen a drop in demand and this may be affecting sales of all properties in major Indian cities. People are finding it hard to get proper buyers for a house or even an apartment. Affordable housing is not always easy to find and hence mainstream buyers are staying away from buying homes and apartments directly from buyers.

Are you looking to sell off your home? Why are you selling off your home? Are you looking to earn a profit? Are you otherwise simply looking to dispose off the property as soon as possible at almost any sum you get? These are questions that you must ask yourself before deciding to sell off your property. Once you get the answers, you will have the right kind of perspective required before selling off any property. This will help you package your proposition accordingly. In today’s market it depends on the kind of proposition you offer. If you are simply looking to sell off your house at any good price you get, be sure to advertise something of that nature or make your intentions clear to potential buyers.

Alongside, if you are looking to get a good price and make some profits on your original investment in the home, you should be careful with regard to drawing potential buyers. The way you package your home will of course pertain to its importance as a high value investment. This will help you draw the right kind of crowd. The way you advertise your home and take a stance, will go a long way towards determining the kind of buyers you actually end up attracting. Some people cannot really draw buyers very quickly but this is possible with contemporary tools and other strategies.

You should be witnessing the rise and advent of agents and brokers in recent times. These individuals have monopolized the sector of late. They control real estate markets in most Indian cities and are often fearsome individuals with regard to operating on their own terms. They are an institution unto themselves and people still end up going to them and trusting them of their own accord. Should you be going for brokers and agents too? You should strictly steer clear of these scrupulous individuals if you want a smooth and hassle free transaction.

Many people will end up advising you to go to the nearest broker or agent as they themselves might have done in the past. Alongside, you will be given a talk on how brokers make life easier for you with regard to getting buyers for your home. While this may seem like a tempting and easy solution, you should firmly endeavor to market your property yourself without depending upon anyone. Firstly, it helps you stay in charge of everything and interact with potential buyers yourself. You will be the best person to provide information about your home to potential buyers and this is a big factor that you should keep in mind.

Alongside, agents and brokers often charge high commissions both from you and the buyer. This may sound trifling at first but it can lead to a huge dent in your pocket later on. Why should you end up paying a huge sum of money as commissions to your broker or agent? This sum will be better off in your bank account after the successful conclusion of the deal. As a result, you should always try to sell off your house yourself. A little research, effort and hard work will go a long way towards helping you market your property in the best possible manner. Learn all you can about the locality and its particular benefits.

Highlight these benefits wherever you can. Write your own sales pitch for the home and this should also include the facilities and other infrastructural amenities nearby along with access to proper transport networks and other recreational facilities. Write about the upcoming developments in the area and also the expected infrastructural growth of the same. Enquire about the prices obtained by sellers of houses in the recent past in your area and put yours on par with the same. Get the per square foot prices of property in your area and work out the accurate prices of your house. Package the house according to its best features and other highlights. Write the strong points of the house down for the benefit of prospective buyers.

Prospective buyers should be given a tour of the house and work out your deal very carefully. Do not go for the first available buyer if he/she offers prices that are way lower than what you expect or deserve. Use online classifieds portals to successfully sell your house without any agent or broker. Advertise your property on these portals under the requisite real estate section or category and watch people respond to your advertisement in droves. Be careful that you mention all necessary information properly in your advertisement. This is the first and foremost way of ensuring that people check out your home.

Always go for premium advertisements while advertising your home; this is about the only investment you will have to make. A nominal sum of money will get you phenomenal results while brokers and agents will only be charging hefty sums on the other hand. These strategies and a little effort on your part will help you avoid the clutches of brokers and agents. These individuals will only connect you with the right kind of buyers. You can do this yourself with the help of online classifieds and personal networking.

This will help you get more value for your transaction and sell your house without the assistance of any broker or estate agent! 

Gurgaon And Delhi Taking Up Green Construction Projects

Gurgaon hosted a two day training programme on the ECBC or Energy Conservation Building Code. It was organized by Haryana Renewable Energy Development Agency (HAREDA) and Bureau of Energy Efficiency (BEE) under the GEF-UNDP supported project “Energy Efficiency Improvements in Commercial Buildings”. A non-profit organization, Advit Foundation working in sphere of energy conservation and environment was associated in the organization of this event.

Launched by Ministry of Power under the Govt. of India in the month of May 2007, the Energy Conservation Building Code or ECBC is seen as the initial step towards promotion of efficiency in energy in the construction sector. It is approximate that countrywide compulsory enforcement of the code will lead to a lot of energy savings annually. With this objective in mind, the capacity building initiatives in ECBC are organized to raise awareness among its stakeholders and for making sure there is gradual implementation of the ECBC. These training programmes are organized to improve awareness among building designers, architects, green building consultants and other participants of the sector regarding the requirements of ECBC and providing technical knowledge towards compliance with the ECBC.

The conference was inaugurated by energy economist of the Bureau of Energy Efficiency. At the conference he spoke of the significance of these training programmes in the longer run. According to him capacity building initiatives of the ECBC are regularly conducted by the Bureau of Energy Efficiency. The initiatives are a part of the attempt to prepare the designer, architect, builder and other student communities by arming them with the basic aspects of BEE.

Almost 40 participants who are mostly architects attended the training programs, along with property developers, designers of commercial buildings which are high in performance, local and urban bodies and government officials. Sustainability consultants, green building consultants, energy analysts for buildings, teaching faculty and academicians of architecture colleges also participated in this program.

Ashu Gupta and AnuragBajpai, who are certified trainers of BEE, conducted the technical part of the programmes over two days covering numerous aspects such as building envelope, lighting components, HVAC systems and energy simulation. Expert architects such as Gurneet Singh of Environmental Design Solutions, Gaurav Shorey of Psi Energy and RajendraChoudhary of Kalpakrit Sustainable Environments Pvt. Ltd. presented case studies at the programme. A field trip to the green architecture building of IRRAD or Institute of Rural Research and Development in Sector 44 in Gurgaon concluded the session.

Charu Jain, director of the Advit Foundation delivered here closing address where she said there is a requirement for intensive training programmes. Awareness about basic concepts should be propagated among the large construction community so that well informed decisions can be made during construction of houses.

About The Organizers

Haryana Renewable Energy Development Agency or Hareda was set up as a nodal agency for implementing the various state and central sponsored projects or schemes in the domain of renewable energy in Haryana and is noted as the State Designated Agency for implementing various programmes and schemes of BEE.

The BEE or Bureau of Energy Efficiency is a statutory wing of Ministry of Power of the Government of India which was constructed under the 2001 Energy Conservation Act. The main objective of the Bureau of Energy Efficiency is to frame programmes and policies with the goal of decreasing energy intensity of India’s economy.

A non-profit organization, Advit Foundation is working with people towards conservation of the environments and enhancement of livelihood. It operates the RGREP Energy Centre established by HAREDA situated in Gurgaon in Haryana.

The ministry of environment and forests has a difficult time while getting permission for cutting some trees for building its green corporate office in the green west Delhi area of JorBagh. For reducing the ecological footprint, the structure was constructed in a way to prevent chopping down of too many trees. Few of the older trees were brought into the design. However, 19 trees were chopped eventually and 50 percent of them were transplanted.

Prashad commented that the building demonstrated technological and design solutions to make buildings energy positive for generating more energy than it takes up. He showcased his project at Urbanscapes, Centre for Science and Environment conference on 2^nd May. For example, the Indira ParyavaranBhavangenerates all its required energy via solar photovoltaic panels installed on the rooftop which have a capacity of 930KW at the peak.

This building, however, doesn’t use solar energy directly. It is first supplied at the grid and then it uses energy from the grid for fulfilling its own requirements. This form is called the renewable purchase agreement. The government shall be able to provide renewable energy created by the Indira Paryavaran Bhavanat the grid.

At the green corporate office of the ministry of environment and forests at JorBagh, the group used a technique called vertical ground cutting method where only a section of the land where the building shall be made is excavated. A lot of people in the JorBagh area protested against the felling of old trees. The construction team got a sanction for 45 but succeeded in saving much more. Fifty percent of the ones that were cut up have been replanted as well.

Almost 1000 officials shall be using the building as soon as the next government is sworn in. Aside from the numerous passive amenities such as having equitable play of air and light, there are quite a few fascinating interventions in usage of energy. For example, the air con shall be operated at 26 degrees rather than 20 degrees and lower temperature.

An automated parking system has been instated which will mechanically lift cars. Priority has been given to pedestrians while designing the buildings. The entrance to the main entrance has stairs to prevent cars from using them. Alternative gates have been provided on the sides for cars to directly enter parking lots. Rainwater harvesting has been provided in the building with recharge pits which do not sustain water. The building is supplied with regular water supply. The total expense for the project has been approximated to be around Rs 120 crore.

Why Kolkata’s Population Is Moving Towards The Suburbs

Kolkata is facing a unique real estate situation of sorts. There are loads of apartment complexes and other residential units coming up in the city. These include condominiums, mass housing enclaves, apartment blocks and gated communities and even luxury villas and exclusive housing projects. The sheer diversity of projects on offer promises much to prospective customers of these projects. However, in what is a natural occurrence, people in Kolkata are moving away towards the suburbs and outskirts of the city. This is a natural trend that is being witnessed all across the city especially on the northern and southern fringes.

More and more people are shifting to the suburbs and outer areas as the main city gets more and more congested, clogged and chaotic. Kolkata as a city was always unplanned and this did have to end in total chaos at some point of time. As a result, the mass exodus of property buyers from the heart of the city to its external fringes is being majorly witnessed as mentioned earlier. Why this exodus? Average citizens from all walks of life are considering moving away to homes in the suburbs and locations connected to Kolkata by the train, bus and road networks.

The city has expanded rapidly and its boundaries and frontiers have always been in a state of flux and constant evolution. The main city has become overtly congested, what with the narrow roads, lack of proper parking space, huge traffic levels and other woes. The city gets worse in the rainy season as well with high levels of water accumulation. Alongside, there is almost no space left to build a house in major areas of the city. This is not a problem if you venture into the outskirts or suburbs. Venturing into the suburbs is now a common activity even for those who have to commute to workplaces and offices in the central business hubs of the city.

This aspect proved to be a deterrent for many individuals and professionals earlier. As a result, many people did not quite like to venture into the outskirts or suburbs owing to these reasons. However, connectivity options have been greatly enhanced in today’s times. All major suburban areas and outskirts now have thriving transport networks, auto rickshaw routes, bus routes, governmental buses and of course, a solid train network. In some places, metro railway stations are not too far away as well. This makes it easier for people to commute to faraway areas and business centers in the heart of the city without any problems.

Alongside, suburban areas have witnessed skyrocketing development in recent times. There are many suburbs that have been transformed into major residential hubs these days. The demand for property in these suburban locations is very high because of prices that are still affordable and viable. Alongside, people are moving to the suburbs in large numbers in order to avoid congestion, pollution, traffic related problems and shortage of space. This makes certain areas very hot destinations currently in the Indian property market.

The Indian property market is very saturated now and the same situation has been prevalent in Kolkata as well. Prices have stabilized in areas at the heart of the city and other premier locations. As a result, many people are finding it unaffordable to buy these properties. They have no choice but to look for affordable housing options. These are only available in suburban areas and of course, the outer fringes of the city. There are some areas like Budge Budge, Maheshtala, Garia, Boral, Kamalgazi, Sonarpur, Rajpur, Baruipur and parts of the EM Bypass which have been witnessing rapid development owing to a sharp influx of customers into the area. Developers and real estate companies are also leaving no stone unturned to draw more and more customers to areas on the outskirts of the city. There are multiple projects being undertaken by top notch developers in these locations. These include entry and mid range projects which are priced within the INR 20 lakhs to INR 40 lakhs mark and also a few premium housing projects which cater to upper tier customers.

Areas like Sonarpur and Baruipur have developed beyond recognition. These areas have top notch transport networks and other amenities. Alongside, the EM Bypass has developed beyond belief. Multiple big ticket projects are coming up on various parts of the EM Bypass. Areas like the Jadavpur Connector and Kasba which are in close proximity to the actual Bypass, have now transformed into mini townships of sorts with top notch properties being sold, easy access to major amenities and other benefits. Alongside, these areas have also witnessed mushrooming hospitality endeavors, projects and other places of leisure and recreation. This is very much the trend in most areas on the outskirts.

Additional infrastructure usually comes hand in hand with big ticket real estate projects and properties and this has been witnessed all throughout the city. Areas like Garia and Boral are also developing rapidly owing to availability of flats in the same range of INR 20 lakhs to INR 40 lakhs as mentioned above. Prices are slightly more when it comes to the EM Bypass and areas like Maheshtala and Budge Budget still have properties priced at much lower rates. Additionally, one can still find viable plots of land in these areas and locations. This is one of the biggest advantages for investors looking to build their house. Building a house of one’s own is otherwise impossible in Kolkata.

Behala too, is another area which is witnessing the launch of multiple big ticket projects in recent times. This is another area where developmental winds are holding sway in full force. Behala still offers multiple affordable options to end users and investors especially in areas like Chowrasta, Thakurpur and even close to Joka. The mass exodus to the suburbs and outer fringes of the city is slated to continue even in the near future and developers are extending their reach to areas which are outside the main city in the bargain. 

Two Places Where You Want To Live In Mumbai - Powai and Juhu

Mumbai has always been an area where the influx of people is much more than the space available for living. Only the rich and affluent can afford to live in areas such as Walkeshwar, Peddar Road and Nepean Sea Road. The middle class citizens of Mumbai are pushed towards the northern and eastern fringes of the city such as Borivali, Kandivali, Chembur, Malad, Ghatkopar and Mira Road. Of these areas, Powai has a rapidly growing real estate sector. A large number of noteworthy builders have their projects going on here. Both rental rate and the per square feet cost of flats in this region are rising manifold, which makes it an interesting area for investment.

Powai

 Located in East Mumbai, Powai is a suburban area which has seen rapid growth in the past few years. There has been a rise in the rental rate of this area by almost 10 percent in the past 3 months. Most people who rent properties here are involved in jobs and services.  An active broking firm in Powai opines that the capital values of apartments and properties are going through the roof. People find it difficult to buy apartments in areas that they want to. The areas that fit their budget are located much away from their workplaces. Therefore, they are left with no other option except to rent such apartments.

Almost 60 percent people looking for flats in Powai have families while the rest are bachelors. Sometimes newly wedded couples also come flat hunting in Powai. Mostly 2 and 3 BHK apartments size command rent between Rs 30,000 and 35,000 in a month are demanded in Powai. Many multinational companies have opened shop here which is why the demand for rental properties has increased in Powai.

Closeness to various commercial areas

 Powai has one of the largest special economic zones or SEZ in Maharashtra where various MNCs are operational. As it is the closest residential area and has developed amenities and infrastructure, Powai fulfils the demand for housing of the workforce employed in this region.

Powai has a large commercial set up along with various IT parks. Most of the population belong to the high income segment who look for plush and luxurious options of housing which are also close to other facilities and their place of work. Renting property is the bigger norm in Powai as property is very expensive here and the ones that are affordable are much away from this area.

Connectivity in Powai

 Significant areas of Mumbai are connected well with Powai. The Vikhroli-Jogeshwari Link Road that connects the Western and Eastern Express Highway goes via Powai. This is one of the biggest advantages of the location.

Apart from the roads, a wide network of non AC and AC buses ply in the area which are operated by the BEST transport wing for travelling towards Thane, Navi Mumbai and Central Mumbai. The Vikhroli and Kanjumarg railway station are located in Powai while falls along the Mumbai Central line.

Another realtor opines that connectivity is one of the main reasons for people opting to stay in Powai. The region is very near the Mumbai International Airport and people who frequently travel by air find it convenient to stay here than South Mumbai, which is equally posh.

Green Surroundings

 The environment in Powai is very serene and acts as a factor for improcing the demand for housing here. No other area in Mumbai shares the dense green cover that Powai has

Individuals looking to earn well off their investment can buy flats and apartments in Powai. According to a property index, Powai yields healthy returns on rental property. The area ranks number one among the top ten preferred areas for renting in Mumbai. According to the present capital values of the area, if an investment of Rs 1.5 to 2 crore can be pumped in, then Rs 40,000 to Rs 70,000 can be easily earned in a month on the rented out property.

The rental cost of a 1BHK apartment here is between Rs 15,000 and Rs 35,000 per month, while 2BHK apartments are rented out for up to Rs 70,000 in a month. If you have a 3BHK apartment here, then you can earn up to Rs 2 lakhs per month as rent. If you want to invest for earning an extra income, then residential apartments in Powai are a good source.

Powai and Juhu saw the value for rental apartment increase by almost 10 percent in the quarter of January and March 2014. Just as Powai offers proximity to office locales and other areas such as the Mumbai International Airport and Navi Mumbai, property prices in Juhu are rising because of the infrastructure on offer and the proximity to the sea.

Juhu

 There are very few offices and corporates located in Juhu which is why this area is considered completely residential. Families prefer to stay here because of the location of several colleges, schools, universities, banks, hospitals etc. according to local brokers.

During the month between January and March, the number of people renting out properties increases because of upcoming holidays and examinations. People look for houses and apartments that are close to colleges, universities and schools according to another broker operating in this area.

The rental rate of a 2BHK apartment in Juhu is between Rs 60,000 and Rs 75,000 in a month. Almost 50 percent of the residents prefer to live in a 2BHK set up while 30% prefer a 3BHK apartment and a mere 20 percent want to live in 4 or 1 BHK apartments here.

Mostly people belonging to the business class or working in the film and television industry live in Juhu. People who are employed in various companies cannot afford to live here.  Brokers of both Juhu and Powai maintain that during the Lok Sabha electrion there may be stability. However, post elections, the rental rate of properties is bound to increase. Therefore, this is the right time for people looking to invest in real estate to strike for the kill.