Every Mumbaikar does not have the financial position to own a house and dwell in it. As a result, there is a never diminishing demand for rented houses and office spaces in the city of Mumbai.

In case of rented houses, the tenants were offered protection under the Rent Control Act. Earlier, it was a possibility to get a decent sized apartment for rent at a very reasonable or probably cheap rate.

However, a state housing department is planning to increase the rents paid by tenants for the properties in Mumbai, in a big way. The government is planning to collect higher proportions of rent from people who live or trade in comparatively larger spaces. The limit decided is over 862 sq. ft. for residential purposes and over 500 sq. ft. for commercial properties. This may affect around 5 lakh people in the city. When compared to fixed rents being paid by the tenants, the landlords would now be able to charge 50 % of the market value of rent for first 3 yrs and then, charge higher rents for subsequent years. For senior citizens, the rent may be as much as 15 % of their income. This may increase the rent rates for Mumbai properties manifold, and bring a change to the real estate in Mumbai.

On one hand, the landlords have acquired the properties long back, when the property rates were as cheap as peanuts, and on the other hand, they argue that the rents received are very low and there is no money to pay for maintenance and repairs of the property. The summation of rent received by the landlords over the years would have surely helped them, recover the amount they had paid to acquire the property. The rents received now, and the resale value in future, is all a profitable avenue to the landlords. In addition to this, burdening the tenants with higher rents is only going to create a one sided and a win – lose situation.

The areas of Mumbai that will be most affected by the enforcement of this law are – Marine Drive, Virar, Nariman Point, Colaba, Mira and Malabar Hill. The upcoming projects, coming up in Mumbai may face mixed reactions. On one hand, people may consider investing in property in Mumbai as, it will get difficult for people to lend their houses on rent due to, an upsurge of the rental bills. On the other hand, the demand for new residential projects in Mumbai may increase if people invest in property in anticipation of higher rental incomes.

People may now opt for guest houses rather than staying in a flat in Mumbai. Though people might have to compromise on the amenities available, it will not dig a big hole in their pockets. Staying in Studio apartments will now become a dream as its affordability has become a million dollar question.

The government has to take sincere efforts to realize the pros and cons of this legal enforcement. A specialized team of experts is planning to be formed for the same, which will come out with an appropriate decision within a span of 2 weeks. The government needs to be more empathetic and understand the needs and concerns of the masses. Being more considerate to the richer class will only result in a unilaterally beneficial law. The Mumbaiites may have to pay higher rents for 1 BHK or 2 BHK houses in Mumbai.

Today’s information age, symbolizes a shift from the, traditional means of communication to computerization. In the modern era, people are comfortable working with the internet for, all their needs. From, searching for valuable information to, making payments, the internet helps us in all. It has not only made our life easier, but also helped us completing our tasks faster and with more efficiency.

Online property portals are the buzzword today. They have taken over the real estate agents in a big way. The traditional way of dealing with real estate, be it, renting a house or looking a house for rent, buying or selling a house or office space is a thing of the past. In today’s busy world it’s hard to find time to approach a real estate agent, put your needs forth and follow up. All of us know that, all queries related to our properties are just a click away. With the upcoming of, numerous property portals, people have started keeping real estate agents at bay.

The online property portals offer a wide reach to the users. Earlier, approaching a trusted real estate agent offered only limited options available with the agent to choose from. But now, you have access to the properties of thousands of people. This offers room for better selection. The internet is always considered a dependable source of information. Any property listed in the portals is sure to gain credibility and create a good impression about any builder. Property listing on portals surely enhances the reputation of any builder by, offering credibility. Any requirement of property can be easily tackled due to the internet access option at all times. Just like a real estate agent, the portals do not have any time constraints; they can be used throughout the day. They not only offer buy, sell and rental options, they are also now trying to give wide options for specialized services like interior designing, vaastu consultants, legal services etc. The internet has a very high reach compared to a real estate agent. With crores of people reading your advertisement, there are higher chances for you to complete the property transaction very quickly and also with less hassle. The portals offer ease in the sense that; they can be accessed to, from anywhere, just with the availability of an internet connection. This helps in accessing the portals even on the move.

The popularity gained by the online portals has not happened overnight. It owes the credit to the popularity of internet usage and the need to save time and effort by people. The online portals offer a plethora of advantages to the users. All you need is, to be internet savvy. Be it, property listing for purchase, renting or sale or other services like architecture, construction and renovation, they can provide help for all. Online property portals are replacing real estate agents in a big way. This is a big revolution in the real estate industry.

Sulabha Kulkarni is a freelance writer and an avid blogger, following the Property in Mumbai and real estate sector closely for many years. 

Affordable housing is a dream; Gujarat seems to have the answer that would put a smile on everyone’s faces! The state government recently announced a Redevelopment Policy that effectively enables developing houses in older colonies at reasonable costs.

The Gujarat Housing Board (GHB) has taken up the responsibility of identifying derelict houses that are more than a couple of decade old in major cities across the state. Budding cities like Surat, Vadodara, Rajokot etc., will heavily benefit from this initiative. In a statement by the secretary of the Urban Development and Urban Housing (UDD), the department has sent an open invite to the private builders and developers to help build cheaper yet sturdy apartments around the city.

The GHB will make sure that the houses which show signs of aging make way for new homes that are sturdy while providing amenities such as parking space and other new age facilities. Also, space optimization will be one of the key goals of this initiative. This means more multistoried apartments will spring up replacing the ones which were built a few decades back.
Profit is not the aim of this initiative by the Gujarat government but the goal is to provide better homes to the people of the state.
A statement by a senior GHB official confirms that the government is concerned about the Apartments in Gujarat that are a picture of neglect for maintenance and hence pose a threat to life in the event of an unlikely natural calamity.

To make sure that the Real Estate of Ahmedabad thrives in the coming years, the GHB has built in excess of 1.76 lakh houses of relatively lesser built up area due to the strict FSI regulations. FSI or Floor Space Index controls the carpet area that can be built within safe standards. The FSI regulations have now been raised marginally and hence any under-utilized property in the state with only a few floors will make way for higher multi-storied apartments that accommodate more people which also being safer due to the more modern construction techniques and the quality of the material used.

Private builders and developers will be roped in by the government under the PPP (Public Private Partnership) to make this new radical Redevelopment Policy of the Gujarat government work. A PPP of similar proportions was already used in Gujarat a year back for another affordable housing initiative. The move to create more living space devoid of huge additional costs has been widely welcomed by all.

Old colonies which were built long back in posh areas are the prime beneficiaries of this move. The people who now live in those colonies will get bigger houses without having to sell and move out from the area. The GHB plans to cover more than 1 lakh houses in this initiate and rumors suggest that once this phase is complete they could stretch and accommodate more numbers in the future.

Sulabha is a real estate expert and consultant from NCR. She deals with analyzing trends in the market of residential flats in Mumbai and commercial properties in Mumbai

ure.

Owning a house is now become a dream for everyone. We put in all our hard-earned money in buying a home for us. We just don’t stop with that, the huge amount make us pay huge EMIs for several years to come. But we all know how hard it is to identify a good and trustworthy developer.

There are many reasons for the home buyers to stay happy with the amendments made to the Real Estate Regulatory Bill approved by the Union Cabinet. You can expect this bill to bring in some transparency between the developers and buyers. The regulatory bill have always had the guidelines to be followed by the developers during construction, launching and promoting new residential projects. It is always mandatory for any kind of home buyers to have a detailed knowledge about the Real Estate Regulatory Bill so that they will not be cheated by the developers at any cost.

The earlier bill passed in 2013 has its own advantages such as timely delivery of flats to buyers, developers to provide precise project details and specify actual carpet area to buyers. It also compelled developers to maintain separate bank accounts for each project, which eliminated transition of funds from one project to the other. It also made the developers responsible for any structural defects in the building within one year of the purchase date.

It is not just that this regulatory bill will bring a change to the real estate industry of the country but will also work in creating a perfect balance between the buyer and the developer. Now having an idea about the regulatory bill, now let us widen our knowledge on the buyer-friendly clauses in the regulatory bill of 2015. This bill drafted by the UPA with certain changes is still to find its approval from the new government.

The primary change in the bill is the percentage of receivables in the escrow account. Now developers will have to keep 50% of the amount received from home buyers in a separate escrow account which is to be used only for the construction purpose. This will prevent the buyer from investing your hard earned money in several other projects. This will also enable timely delivery of the house. As we all know there are several disputes between the buyer and the developer due to delay in completion of the project. Hence when developers maintain a 50% receivable in escrow account, it will ensure proper flow of fund.

This bill also helps buyers to claim the full refund amount along with interest in case if the developer delays the project from the promised timeline. It compels the developers to submit the clearances and layout plans to the regulator and stick on to it.
Another important amendment is that the developer requires approval from 2/3rd of customers to make any change in the project layout. Not just that the projects that are constructed in area measuring anything larger than 1000 square meters, will have to be registered with the new regulatory authority.

This regulatory bill will not only regulate the residential segment but will also regulate the commercial segment of real estate sector, which were not included initially. Now that all developers in both commercial and residential sectors will be aware that there is a regulator who keeps an eye on them to ensure they give the best to the buyers on the promised time.

Author Bio:

Sulabha is a real estate expert and consultant from NCR. She deals with analyzing trends in the market of residential flats in Mumbai and properties in mumbai

What the future holds for real estate in Hyderabad
The future of the realty sector in Hyderabad is looking good. The storm surrounding the Telangana issue has passed. The political unrest did a number on the real estate scene of the city. The incessant riots brought the economy of the city to a grinding halt. Companies started viewing the city as a liability and stopped expending there. This had a big impact on the realty sector. Sales volumes and property prices took a nose dive.

The city was once the most preferred destination for Information Technology companies. The unrest leading up to the bifurcation of the state forced these companies to look elsewhere to set up shop. The city saw a mass exodus of companies during this phase. But there is hope yet for the city. With the bifurcation of the state, Hyderabad has been named as the joint capital of both Andhra Pradesh and Telangana for the next decade. Though the market has not recovered yet from the prolonged downturn, things are definitely looking up for it.

The new Telangana government is looking to boost the infrastructure of the city. One of the biggest projects that is being banked up on to help the city and its residents is the Metro Rail. An investment of INR 17000 crores is being pumped into this project. The project is set to have three lines and just the first phase is to have sixty six stations. Some reports suggest that 2 stretches are going to be thrown open to the public in October 2015. The two stretches are between Nagole and Begumpet and between Miyapur and SR Nagar. If you are planning to buy plot in Hyderabad then the places with metro connectivity are the best choice for you. Not only will you get amazing connectivity but the price of the property you purchased will also keep going up in the future. The new government is also pumping in money on many other infrastructure related projects to make the city more liveable. This automatically bumps up the real estate value of the micro markets which are being touched by these projects.

If you are looking to buy apartments in Hyderabad then the micro markets which are dominated by the IT sector is where you need to head to. Areas like Gachibowli and Hi Tech City always figure among the top choices for those who are looking to invest in this market. If you buy apartments in Hyderabad which are located in these two micro markets you can bet that you will see good price appreciation for them in the future. Those who are working in the various companies which have set up shop here prefer to walk it to their offices. Hence they want to live in these micro markets itself. The prices for properties here is also much below par when compared to the central business districts in the other metros. This makes them an ideal choice for those who are looking to buy villas in Hyderabad for investment purchases. These two micro markets are also good rental destinations making them an investor’s haven.

In recent times, Chennai is witnessing a rapid real estate developments in the suburbs of the city. Likewise, Porur is one of the emerging suburbs in the metropolis for commercial and residential developments. Also, the latest PropIndex data shows that Porur is seeing a high property market growth in 2015 (Jan-March) and the capital values of the residential property has recorded a maximum rise of 5% in the first mentioned quarter.

During Oct-Sec 2014, the price range of the residential properties in Porur were Rs 4,230-5,390 per sqft. Now, in Jan-Mar 2015, the value of the properties has increased to Rs 4,410-5,790 per sq ft. Eventually, this indicates the increased price rates of the properties that comes under higher segments.

Reasons for increasing Property Prices in Porur

It is well-known fact that a high demand certainly boosts the property prices. The real estate experts state that the increasing demand of properties in Porur have resulted in rise of the property prices.

Another major reason is the availability of residential projects that suits the budget of every home buyer. The PropIndex data also indicated that the area is offering a plethora of residential properties within the price range of Rs 20-40 lakhs in 2015 first quarter.

Apart from it, the home buyers can also find a high segment residential properties at a price range of Rs 50 lakhs to Rs 1 crore. Thus, the end-users can find 2,3 or 4 BHK homes under the multiple budget ranges.

Connectivity is also one of the major factors that raised the demand of property in Porur. Located strategically, Porur connects the city’s major commercial areas such as Vadapalani and Guindy. Also, it has close proximity to Kundrathur, GST Road and Poonamalle. Apart from it, the residents of Porur can reach Sriperumbadur by commuting through Mount Poonamalle Road. Besides, the Chennai International Airport is located just 12 km away.

Industrial and IT hubs are certainly contributing the residential demand. As the bigwigs such as IBM, iGate, Logica, Dell and have their offices in the DLF IT park, the residential demand is high among the working professionals in the locality. Apart from it, people working in Sriperumbadur prefers to Porur to buy or rent a home. With three more IT SEZs are in the pipeline, the property investors are keen to make a property investment in porur.

Moreover, the area is witnessing an immense infrastructural developments in the past few years. Besides, the proposed flyover and metro line are under planning stage.Alongside, the area has the presence of schools, banks, hospitals, shopping malls and many more.

So, if you are looking to buy an individual home or apartment in Chennai, Porur would be an ideal choice for property investment.

Located off Thanisandra Main Road, The Weave is one the trending luxury apartment residential projects in Bangalore. Being developed Unishire, the major intention behind this residential project is to offer a quality living experience to the residents. Besides, the project is developed with all the essential facilities that suits the needs of community living.

At Weave, totally there are 182 premium range of residential apartments that comprise of 2 and 3 bhk apartments. Located behind Manyata Tech Park / Hebbal, this residential project has close proximity to numerous hospitals, educational institutions and utilities. Further, it takes just 20 minutes drive to reach the International Airport.

Strategic Location, best designs, and reasonable price tag are some of the major factors that grasped the attention of the home buyers towards this residential project.

Green Initatives in this Residential Project: Up to 70% Water Savings, Excellent Ventilation, Up to 40% Energy Savings, Almost Zero Discharge Development (solid waste & water), Designed to cater Wheelchair Use, 100% Daylighting in every living space, High Performance materials, Use of non-toxic paints, Parking Facility for Visitors, Charging Facility for Electrical Vehicles, Provision for Waste Segregation & Recycling.

Lifestyle Amenities Available in this Residential Project

Club House: Indoor Game Room, Banquet Hall with leisure and event space, Gym, Cafeteria, Pool with deck and changing rooms

Terrace Level

Outdoor Activity Spaces, Outdoor Seating, BBQ Spaces, Kids Play Areas, Viewing decks, Event Spaces

Located off Thanisandra Main Road, The Weave is one the trending luxury apartment residential projects in Bangalore. Being developed Unishire, the major intention behind this residential project is to offer a quality living experience to the residents. Besides, the project is developed with all the essential facilities that suits the needs of community living.

At Weave, totally there are 182 premium range of residential apartments that comprise of 2 and 3 bhk apartments. Located behind Manyata Tech Park / Hebbal, this residential project has close proximity to numerous hospitals, educational institutions and utilities. Further, it takes just 20 minutes drive to reach the International Airport.

Strategic Location, best designs, and reasonable price tag are some of the major factors that grasped the attention of the home buyers towards this residential project.

Green Initatives in this Residential Project: Up to 70% Water Savings, Excellent Ventilation, Up to 40% Energy Savings, Almost Zero Discharge Development (solid waste & water), Designed to cater Wheelchair Use, 100% Daylighting in every living space, High Performance materials, Use of non-toxic paints, Parking Facility for Visitors, Charging Facility for Electrical Vehicles, Provision for Waste Segregation & Recycling by Unishire’s The Weave

Lifestyle Amenities Available in this Residential Project

Club House: Indoor Game Room, Banquet Hall with leisure and event space, Gym, Cafeteria, Pool with deck and changing rooms

Terrace Level

Outdoor Activity Spaces, Outdoor Seating, BBQ Spaces, Kids Play Areas, Viewing decks, Event Spaces

Ground Level

Sit-outs, Half Basket-ball court, Mini Cricket/Practice Net, Jogging Track/Walkaways

With all the above-mentioned facilities and features, this residential project in Bangalore will certainly meet the requirement of modern living. Thus, the home buyers who are looking for luxury apartments with amenities can prefer this residential project. Moreover, the property investors can earn a good return on investment in the future.

Sit-outs, Half Basket-ball court, Mini Cricket/Practice Net, Jogging Track/Walkaways

With all the above-mentioned facilities and features, this residential project in Bangalore will certainly meet the requirement of modern living. Thus, the home buyers who are looking for luxury apartments with amenities can prefer this residential project. Moreover, the property investors can earn a good return on investment in the future.

Unishire is one of the top real estate developers in Bangalore, which is creating a benchmarks in the construction field by implementing new designs and unique concepts. With an intention to offer international living standards to the home buyers, the residential developers have been engaged in constructing residential projects in Bangalore that meets the expectations of the home buyers in every aspects. Owing to its successful path in the residential sector, Unisher have extended its services by undertaking multiple projects such as Hotels, Shopping Malls, Commercial Spaces, SEZ’s, etc

Following are some of their trending residential projects in Bengaluru

Unishire Belvedere Premia – 3 & 4 BHK Condominiums

Located in the heart of North Bangalore, Premia is the ultra luxury residential project by Unishire Premia that is meticulously developed to match the requirements of urban living. Sprawled across 1.15 acres with just 15 housing units on 15 floors, this residential project will offers the luxury of privacy to the residents. Apart from it, the natural surroundings will make the residents to experience peaceful living.

Also, this project furthers luxury lifestyle one steo ahead by offering Penthouses with roof terraces. Besides, to ensure this project is eco-friendly, the builder have implemented German architecture in this residential project.

Amenities: Well-Equipped Fitness Center, Party Hall, Indoor Games, Rooftop Pool, Creche, Kids play area and many more.

The Weave – Luxury 2 & 3 BHK Apartments

Located off Thanisandra Main Road, the Weave is the another luxury apartment project of Unishire that redefines community living. This residential project is developed to offer quality living experience for the residents with respect to family, luxury, society, comfort, well-being, prosperity, security and celebration.

With uniquely designed “Stepped Form” Towers, the Weave is built with 182 luxury range of 2 and 3 bhk apartments. Located just few minutes away from Manyata Tech Park, the residential project has the advantage of close proximity to numerous hospitals, utilities and educational institutions. Also, the Inernational Airport is located just 20 minutes drive away.

Amenities

Terrace Level – Landscape Garden, Outdoor Seating, BBQ Space, Event Space et.,

Club House – Cafeteria, Pool with Deck, Indoor Games, Gym etc.,

Ground Level – Half Basketball Court, Jogging Track, Cricket Practice Nets and more
Unishere Panamera – Ready to Occupy Homes in Bangalore
This is the limited edition residential enclave of Unisher, which is developed with 32 and 8 floors that comprises of duplex 3 & 4 BHK apartments. With close proximity to Hebbal Flyover, Bangalore International Airport, Outer Ring Road (ORR) and the Peripharal Ring Road (PRR), the residents can commute to their desired destinations with ease. If you are an home buyer who is looking for a ready to occupy homes in Bangalore, this project would be the best choice

Unishere Triumph – 2, 3, and 4 BHK Apartments

Triumph is yet another ongoing gated community residential project in Bangalore  by Unishere. The project is built with 300 units that comprise of 2, 3, and 4 BHK Apartments

Unishere La Vida – Premium 2.5 & 3 BHK Flats

Located on Bangalore Outer Ring Road, this residential project built with all the essential facilities for modern living.

As India’s leading real estate development company, Sattva Group have developed both commercial and residential projects. In recent years, the builder have been engaged in constructing a premium range of residential projects in Bangalore with all the essential facilities for , which has got overwhelmed respsonse from the home buyers. As these projects are built with unique designs and construction quality, the end-users have shown great interest in buying a home in any of these residential projects.

Here are the trending residential projects in Bangalore;

CELESTA – Apartments near Krishrajapuram Lake, Old Madras Road, Bangalore

For the home seekers who are looking to buy a home that is surrounded by lush greeneries and water bodies, then CELESTA would be their ultimate choice. Located along the Krishrajapuram Lake, this project is perfect choice for home buyers who wants to experience urban living without compramising on the tranquility. Further, the project is perfectly developed with all the basic facilities like water efficient landscaping, water treatment plant, Reticulated Pipe System, sewage treatment plant and fire safety systems in every floor.

Amenties Available: Club house, jogging track, swimming pool, amphi-theatre and many more.

Laurel Heights – 2 and 3 BHK Apartments, Bangalore

For those who wish to live a stylish lifestyle, the Laurel Heights would be the perfect home buying choice. The residential project offers both 2 BHK and 3 BHK apartments that are ranging from 992 sqft to 1416 sqft. Further, the project is located close to industrial and IT hubs that include BEL and WIPRO. Also, Yeshwantpur Railway Station is just 5 kms away from the project.

Moreover, the end-users can earn good returns in a short time, as this residential project is stratigically located in a rapidly growing areas and future infrastructural developments.

Salarpuria Sattva’s Aspire

To bring in more prosperity and happines among the property owners, the builder have constructed this project with best Vaastu designs by Salarpuria Sattava Aspire. With an intention to create convenient spaces, the builders have developed this project without much utilization of common areas.

Salarpuria Sattva’s Senorita

Isn’t it wonderful when you get everything at your reach. At Senorita, the residents can get all their essential needs without stepping out of the residential community, as this residential project in Bangalore at Senorita is built with world-class amenties. Also, the project has close proximity IT parks and corporate offices that are located in Whitefield, Sarjapur Main Road and Electronic City.

In recent times, many residential real estate developers have been engaged in building ultra-luxurious projects in India that meets the requirements of the HNI home buyers. Also, the residential developers have been lucrative by constructing luxury segment projects, as the demand is high among the ultra-rich clientele. According to the real estate sources, the location of the project is still being baseline concept in most of the cities in India. Apart from new design concepts and world-class amenities, the HNI home buyers are willing to pay extra for luxury homes that are built in the famous locality.

The major cities of India like Bangalore, Pune, Delhi and Gurgaon are witnessing a huge number of luxurious residential projects being developed in the prime locations by the builders.

Delhi

The capital city is the foremost destinations in India where the preference is high for the HNI home buyers. When compared to other locations, South-Delhi is considered as the micro-market for HNI customers from Punjab, Delhi and Uttar Pradesh. The price range of luxury homes in Delhi is ranging from Rs.50-300 crores. Particularly, Golf Links is one of the sought-after residential areas in Delhi that has a huge demand for luxurious residential projects by Wave City Centre.
. Apart from it, the areas like Vasant Vihar and Shantiniketan are the two major HNI destinations in Delhi. When compared to other cities in India, demand diversion to newer location is not in the case of Delhi.

Mumbai

Being a wealthiest city in India, Mumbai is one of the top destinations in India that is renowned for its luxurious residential projects. The two major areas like Malabar Hill and Nepean Sea Road were the most preferred destinations for the HNI customers once. However, the customers have begun to prefer other locations like Bandra-BKC, Mahalaxmi and Worli as alternatives. This is owing to the limited supply of residential projects in the historical locations of Mumbai. Thus, the HNI home buyers are looking for residential projects in Mumbai that offers 24/7 security with gated community and exclusive club houses to compromise on the location.

With the development of Vivarea – the ultra-luxury gated community residential project developed by K. Raheja Corp, the HNI home buyers have started to accept Mahalaxmi as a luxury housing address. Apart from it, the areas like Bandra-BKC and Goregaon were witnessing the same scenario in recent times, where Oberoi and Sunteck have been playing a major role in creating a new luxury housing address in South-Mumbai.

Bangalore

Likewise in Bangalore, the residential developers such as Assetz Infrastructure PVT Ltd and Total Environment have developed luxury residential projects in Bangalore. Further, most of their luxury projects are located in the premium locations. These residential developers have developed the most of their projects in Whitefield thereby making it as a high-value area. The infrastructural developments, project designs and resident’s profile are certainly turning Whitefield into most sought-after residential area. Apart from it, JP Nagar is also one of the emerging areas for luxury segment homes in Bangalore

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