Should You Buy Property in This Stagnant Market?

Most people who intend to buy properties are in a dilemma about waiting and watching or going for the kill. Property prices are quite high although sales are not which is why buyers are waiting to see if the price of properties fall or not.

If you too are thinking of buying property, this would be a good post for you to go through

Investing when you have the power to negotiate 

The momentum in stagnant markets is always missing. Even though it makes sense to wait for a drop in price, if you come by a property which fits the bill of what you want, don’t hesitate to buy. Most buyers were speculating prior to the election which has led to stagnancy in the market. However, house buyers must understand that this is the ideal time to buy property in order to get a good deal. With piling inventory, developers are willing to negotiate the property prices.

When the real estate market turns out to be sluggish, it is a good time for buyers to move in. Many developers are willing to negotiate between 5 and 7 percent of the property price quite unlike active markets where the market is entirely controlled by sellers. Depending on the brand, buyers can look forward to festival discounts, well designed packages and free registration aside from other concessions.

Developers have already started offering freebies and discounts on their properties which would increase further as the year closes. The real estate market becomes quite dynamic during the festive season in India as buyers look forward to getting discounts and offers on their purchases and developers to sales that have freebies. Compared to the past 2 years, the festive season spells good sales this year. Because of lower buyer sentiments, the market has piled on lots of unsold inventory. Areas such as Gurgaon, Navi Mumbai, Thane, Greater Noida and Noida are expected to show hefty discounts on the properties available.

The developers are willing to negotiate with those who want to buy property this festive season in terms of price rather than offering cars, gold coins and foreign trips, which were offered in the past 2 years. For example, in the Delhi NCR region, most of the developers offer Possession Linked Plans or PLPs as festive offers where numerous schemes of payment are offered such as 10:90, 30:30:30, 30:70 and 25:75 etc. Many developers have given up EMIs till the time of possession for wooing in customers. Several developers are also looking to book flats on behalf of those who want to buy property for Rs 1 to 2 lakhs only!

Developers seem to be making a killing by offering cash discounts as more buyers are inclined towards these cash discounts over free gifts.  Almost 60 percent of house buyers would prefer to buy property in the festive season if cash discounts are offered on the property. This time is certainly a good one for buyers to purchase property because builders are willing to negotiate on the price of the property. Not only do buyers have a good chance of saving a hefty amount but also the freedom to choose from wide range of options because of the adequate supply in the property market. Once the inventory accumulated is exhausted, prices should increase as buyer sentiments are expected to grow. Therefore, you should certainly consider buying properties at this time of the year, when the market is slow. You should research enough prior to targeting a particular project because you have a good chance of getting great property.

Quality Properties are sold in a Slow Market

When the market is in the hands of sellers, almost anything is sold. At a time when everyone indulges in purchase of property, it would be hard to resist. However, when the market is slow, buyers have to be cautious about their choices and certainly judge the quality of a project before purchasing it. At a time when demand is high, builders seldom follow up with buyers.

What most buyers do not realize is that branding of a project begins right after the stage of possession. When you sell an apartment, you are selling lifestyles and dreams. Therefore builders must certainly take care to assess the quality that he is supplying buyers with and therefore must follow up buyers or look into complaints through consumer grievance cells. At a time when the real estate market is slow, purchasers can make out easily what is good for their lifestyle and taste.

Real Buyers are Active at all Times

Even though most analysts claim that real estate markets in cities are stagnant, the story is much different form that. At all points of time in a market, there are potential vs actual buyers. The actual buyers are people who have saved a part of their income through the years and research adequately into properties available. They consider purchasing decisions about properties for months almost because their savings would be entirely vested in this. Even though they invest their money wisely, they do not keep postponing their decision. They simply wait for good deals to come by.

Actual buyers usually have certain temptations that get them to the market. A lot of buyers look to purchase property during the Navratri festival. Even though they decide upon properties that they want to buy beforehand, they still wait around for good deals to come by during the festival. During slow markets, mostly investors sit out of the market because the benefit of purchasing the property is not there. End users are always active no matter what the market situation is.

Youngsters want quick returns on investment

Most youngsters nowadays are oriented towards investment. Instead of putting their money in gold which they consider as dead investment, they are investing in mutual funds, property and stocks. Since properties are secure investments, youngsters do not mind putting their money in them as their value would appreciate in the future. Moreover, realty prices have increased to a good extent in the past few years. Therefore, if you wait around for a faster market and right time, you may end up spending more than what you intended to for your dream home.

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 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! 

Getting Your Dream Flat With Ease

Hunting for flats or homes can be a nightmare for many individuals. None of us have any time or energy to spare these days. We are all too caught up with hectic and stressful professional schedules, social commitments and the demands of home and family. We do not have much time to go about from one place to another. Looking for properties physically is thus never a solution. Alongside, there are certain pitfalls that one can encounter on the way. All in all, the need of the hour pertains to real estate solutions that minimize your search and help you find your dream flat with relative ease. 

Real Estate Options

Is this even possible? You might fall into the clutches of real estate agents and brokers. This can be potentially disastrous on many counts. Firstly and most importantly, you will only be shown some specific properties on which the broker stands to benefit. You will thus miss out on other equally viable properties in your desired location. Alongside, you will be subject to constant selling mechanisms of brokers who may well force you into a decision that you may regret later. Buying a home is after all a one-time decision and the wrong choice can have myriad repercussions later. Alongside, agents and brokers will only inflate prices to earn higher commissions. No matter how much you like a particular flat or property, you will have to pay higher for the same if you are buying it under the aegis of a broker or property consultant.

This is something that you are better off avoiding. You can try looking at real estate options on online property classifieds. How do these portals help you? They help you obtain relevant results for your property search in any city in India. Most importantly you can perform these searches from the comfort of home or your workplace itself. You do not have to travel the entire length and breadth of the city looking for viable flats in your desired areas. These portals help you find your dream flat in your desired neighborhood, locality or city area without any hassles.

You can browse through posted advertisements and find out contact details of real estate developers or sellers. You can use these to contact sellers directly and talk out your terms and conditions before visiting. Alongside, you can also reply to these advertisements for free with your own contact details, budget range and other requirements. You can even post a free advertisement on these free classifieds websites. This advertisement should contain your own contact details, budget range and an exact list of your flat based requirements and amenities that you cannot do without. You are guaranteed quick responses with these advertisements.

Always negotiate for prices that are at least 7-8% lower than the original asking prices stated by sellers. This will help you get some discounts on the original price of a flat. Use online classifieds and find your dream flat without any problems whatsoever!

Delhi-A Growing Hotspot For Real Estate Investment

The real estate sector in the Indian economy since the past decade has seen a rise in investments made by Indian nationals as well as NRIs. Localities like Gurgaon, Noida Extension, Greater Noida, Dwarka Expressway, Bhiwadi, KMP Expressway etc. that form a part of the Delhi NCR are in great demand owing to their locations, connectivity to the city and many other factors. With prices that go as high as Rs.2500 per square ft. in such localities, 3 BHK apartments are a high return investment, especially for NRIs who find investments in their homelands to be affordable as well as profitable in the long run. Two upcoming projects mentioned below are among many other such real estate building investments growing in an around the Delhi NCR.

Residential Apartment, Delhi, Sector – 106 Gurgaon

With a starting price of Rs.84.01 lacs, residential apartments of Sector-106 Gurgaon is an ideal location for one’s dream home amidst a posh atmosphere, surrounded by lush green golf landscapes. Landscaping features and a serene ambience offer a promising and dream-like lifestyle that only a privileged few get to experience. Its residential neighbourhoods, recreational facilities add a sense of charm and luxury to apartments of this building project.

Apartments in Delhi

Apartments in Noida Extension
Sampoornam, a residential project undertaken by Eros, located at a prime location of Noida Extension area covers an area of 25 acres with a cluster of high rise buildings. Apartments on offer include spacious 3BHK and 2BHK and areas varying between 835 and 1765 sq. ft. Having large expanses of open area, Sampoornam is a lucrative offer for those with a budget of around 45-46 lakhs. The 2 and 3BHK apartments in Delhi come with all the common modern facilities and amenities usually on offer by most residential complexes of today.

Growth of IT industry boost real estate

As more and more IT industries come up in the Delhi NCR, demand for apartments, be it rented or residential keep growing. For apartments of 3BHK Delhi seems to be the demand of the day. Providing top class facilities, posh surroundings and sufficient security, prices of property too seem to be rising. Tourism, business and retail centres, entertainment centres have all become part of the residential projects undertaken by real estate developers who aim to create an overall growth and creation of complete townships.

Searching properties online
Online portals has grown in leaps and bounds gaining popularity across cities in India where people from all parts can use this platform for their trading purposes. 3BHK residential apartment Delhi can be found on rent or sale through this platform and the websites often provide useful information saving you time and helping you make the hunt for your dream home cost effectively. Direct interactions of buyers and sellers through such mediums have helped prevent middlemen gaining their share through unfair means. With advancement in digital media, the online classifieds website too is expected to grow even further within the next 5 years and expansion will help boost its progress.