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Real Estate Market In Chennai

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Today, real estate is the new thing and is intensifying in each and every metro city of India. With the advent of globalization and growth, there has been an all-round makeover of the modern lifestyle. The kind of employment has changed from the traditional 9 to 5 jobs to core corporate jobs. More people are getting into the cities, owing to the concentration of corporate jobs in the metros. Chennai is no different. It is one of the fastest growing cities of India, with both technology and business scaling new heights and growing more. The city space or the basic living space is getting smaller day by day and so, the outskirts are developing. And here comes the role of real estate.

The ‘real’ picture of real estate in Chennai: As of today, demand has surpassed the supply of residential space in Chennai, it has become a tough job for real estate professionals to cater to the needs of  customers and at the same time offer them competitive prices for the residential plots for sale in Chennai. Although there are new areas coming up in and around the city of Chennai, still the task of occupying them is tricky. There are various factors to be kept in mind, while going to buy a residential plot. These include checking the proximity of the place from the main city or the workplace, schools and colleges, availability of all kinds of modes of transport and other basic amenities required for sustaining life in a city such as hospitals, nursing homes, departmental stores and the like. Therefore, you should always be on the lookout for a reliable real estate professional, to help you out with all these factors and enable you to gain your space.

The following localities with residential plots for sale in Chennai are coming in the picture today, being backed by the developers, who are acting as intermediaries between the buyers and promoters:

  • As the new metro railways and flyovers are being constructed throughout the length and breadth of the city, upgradation of the Chennai Airport and the Green Rail project through the Manamadurai-Rameshwaram stretch are being done simultaneously, therefore, new residential plots are coming up around these areas, available within a range of Rs.10 lakh to Rs.20 lakh.
  • Another upcoming area of real estate development, is the one grazing the IT sector and software technology parks of Chennai. Today, along with the IT hubs of Bangalore and Hyderabad, metro cities like Chennai are also witnessing growth in IT industry. Since the type of work in these kinds of jobs is more of corporate in nature, the schedule is irregular and so, it is always advisable to stay nearer to the workplace. Navalur is one such place, which is very close to the SIPCOT IT park and other companies like HCL, TCS, CTS along with shopping malls and prominent educational institutions.

So, it is better to plan early as the prices are always running a risk of rising.

Summary: You need not worry very much about getting the perfect residential plot in Chennai, as the developers will help you with your requirement. They will guide you through the process, escort you to the place, so that you can inspect and decide on your own. They will also help you with making financial arrangement as they have tie ups with renowned banks, all ready to give loans for buying plots.

Is A Hard Loan A Good Investment Tool For Your Situation?

Is A Hard Loan A Good Investment Tool For Your Situation?

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Getting a mortgage today is nowhere as easy as it used to be. Less expensive interest-wise, if you don’t have the right assets or income to debt ratio, you may be left without many options. Hard money loans are the answer to many difficult investment situations. They are structured differently than traditional loans and are most commonly associated with much higher interest rates. Before you take one out, it is best to decide if it is worth it for your investment purposes.

Hard money loans are the perfect solution for investors who intend to purchase a house but never own it long enough to worry about the rate of interest. People who buy an investment property and expect to sell it quickly can benefit from a hard money transaction because they can get quick money without jumping through all the hoops or having the equity that it takes to be approved for a mortgage.

Hard money loans differ from traditional loans in many ways. Often not coming from a traditional lender, hard money lenders or HMLs are typically loaned from either small equity groups or private individuals. The major advantage is that they often do not take into consideration things such as credit scores. As much as twice the average of interest mortgage loans, they also are associated with high origination fees.

Other major advantages are that you can borrow up to 100% of the value of the home. Using the property as collateral, you can mortgage the property with the property, that is very attractive for business who are purchasing the home to fix it up and build quick equity then pay it off just as quickly. Often not making more than a couple of payments on the hard money loan, they aren’t concerned with the rate because it will likely not affect them.

Hard money loans are usually approved with very little paperwork and within just a couple of days. With traditional mortgage loans taking as many as 30 to 45 days to close, it is sometimes an attractive proposition to the seller. Being able to close quickly and to give cash on hand, many sellers may be more willing to take less than to have to own the house for longer than they want to.

So, is a Hard Money Loan for you?

If you are looking at buying a home for personal use, then a hard money loan is not the way to go. If you don’t have the funds to pay for a mortgage now, it is much smarter to clear up your credit, save for a down payment, and try to go the traditional route. If you are looking at a property merely for investment and quick equity building, then it may be a smart decision. The allure of being able to close quickly may save you on the price of the house, and although having a high-interest rate, you likely won’t be paying more than a month or two before you can pay the entire balance off. For more information about the potential to obtain a hard money loan, contact Blue Jay Equity investments for more information about whether it is in your best interest.

Smart Strategies For Boosting The Value Of Your Property

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Planning ahead is something that may come handy in pretty much every area of our life. When our current living space gets in the equation, it’s wise to say that plan B is a sore requirement of the fast-paced and unpredictable course of modern development. On an individual level, although we feel attached to it now, we should insure our future. Keep up with the modern trend of house-flipping and take a look of some of the valuable methods that can easily raise your asset’s worth. Read More

Real Estate

Here’s An Update From Bangalore Real Estate Market

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Bangalore is an IT capital and hub for south Asian nation. Profile of developers within the town is extremely smart.’ Bangalore’s property market received the most non-public equity investment of nearly Rs 2,000 large integer within the country throughout January-September 2013 with exaggerated demand for hired workplace assets from institutional investors, in keeping with property authority.

Sobha Square is one of the brand new creation by the reputed real estate builders Sobha Limited.

Being the IT hub of India, Bangalore has a multi-cultural population with good social infrastructure, excellent educational institutes and constantly upgrading physical infrastructure. Currently, the most promising residential micro-markets are Outer Ring Road (ORR), Sarjapur Road, Whitefield and North Bangalore

Luxury Residential:

Bangalore is the third-largest hub for High Net worth Individuals (HNIs). It is estimated to be home to over 10,000 individual dollar millionaires. Bangalore has a large base of expatriates who live and work in the city.

The residents are well travelled, cultured and have sophisticated tastes. There has been increased demand for high-end residential apartments in the city, particularly in the Central Business District (CBD), Secondary Business District (SBD), Whitefield, North Bangalore and Outer Ring Road sub-markets. We expect consumer demand for high-end residential projects in these sub-markets to be steady over the short term.

The Sobhasquare project is conveniently located in Kogilu Cross, Yelahanka, Bangalore and enjoys close proximity to all social facilities.

Bangalore is one of the most promising markets for villa projects in India. Villa and row house developments are most active in the North Bangalore, ORR, Sarjapur Road and Whitefield micro-markets. The main driving factors for this segment are social infrastructure, proximity to workplaces, good physical infrastructure and access to medical and educational facilities. Because of these reasons, micro-markets such as Whitefield, the ORR IT corridor, Electronic City and few areas in North Bangalore have witnessed a steady demand from the mid-income segment.

Affordable Housing:

The affordable housing concept has gained ground in Bangalore City, mainly due to a few graded developers like Purvankara, Brigade Group, Shriram Properties, Golden Gate Properties, Ozone Group and Nitesh Estate who are focusing their projects for customer segment. In most cases, the housing units are made affordable by reduced unit sizes, compromising on civic amenities and other USPs which were typically provided as differentiators to the competing projects in the micro-market/city.

With increased demand, ‘affordable’ housing projects have witnessed an increase in the capital prices and are now priced higher than or similar to mid-income segment projects. These projects have also seen substantial rise in capital values because of increased cost of land acquisition and construction. These include Tata Housing, Usha Breco Realty, Godrej Properties, Ashoka Group, Jannaadhar Construction, CSC Builders, Brigade Group, etc.

Overall Demand Scenario:

Central (CBD) & Off Central (SBD):

Low supply and high demand. Due to low availability of large land parcels and high capital values, these micro-markets have seen a limited supply of residential developments. These markets have very good social and physical infrastructure. Nitesh Park Avenue, Prestige Kingfisher Towers, Westcourt Cityview, ETA Beau Monde, 77 Degrees East, Sobha Indraprastha and Prestige Edwardian are some of the high-end projects in these micro-markets.

North Bangalore:

The demand for high-end residential units remains high in the North Bangalore region. Residential real estate activity in North Bangalore has gained traction post the commencement of the Bangalore International Airport. The projects located around Hebbal, Bellary Road and surrounding areas are in the luxury segment. North Bangalore is assured to be the next economic center of Bangalore. Proximity to the International Airport and planned social and the physical infrastructure in the North have boosted development in the area. Embassy Lake Terraces, RMZ Latitude, Karle Zenith, Equinox, Embassy Boulevard are some of the high-end projects in the North Bangalore.

South Bangalore:

The demand for high-end residential developments is low in the South. The housing requirement in this area increased after Electronic City established itself as an IT Hub in this micro-market. However, it did not attract premium residential developments due to poor urban and social infrastructure.

East Bangalore:

Whitefield as a micro-market has developed into a self-sustaining area. Along with being an IT destination, this area has good social infrastructure and developing physical infrastructure. Hence, the demand for luxury residential developments remains high. Adarsh Palm Meadows, Prestige White Meadows, Chaithanya Sharan, Windmills of Your Mind are some of the luxury projects in this market.

West Bangalore:

This micro-market has not been successful in attracting many real estate developers as it fails on the count of good social infrastructure. It is mainly dominated by industrial developments and has seen hardly any developments in high-end residential developments.

Factors Influencing Appreciation:

The following are the factors influencing the capital appreciation and rental potential in Bangalore:

Growth in the IT Industry and a rapidly increasing number of High Net-Worth Individuals, and movement of expatriates. The proposed infrastructure by the Government (Peripheral Ring Road, Metro Rail, Signal Free ORR, High Speed Rail Link, Mono Rail, Elevated Expressway). The proposed SEZ and IT parks in North Bangalore. (ITIR in Devanhalli, Aerospace SEZ, Devanhalli Business Park).

5 Things To Consider Before You Invest In The Mumbai Real Estate Market

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Buying a house is a lifetime dream and a one time decision for many people, especially in an expensive city like Mumbai. This is one moment of excitement and stress at the same time. The excitement is when you look at those properties on the real estate website and feel that it is your dream house. At the same time, when you check the rates, you become stressed. Thus, a proper planning and a strongfinancial budget, will help you to block that property in Mumbai.

Here are a few more things to consider apart from planning and budgeting for your dream house in Mumbai:

  1. Check the Goodwill of the Builder:

This is one of the important things to consider, as there are a lot of properties that come in the greenbelt or illegal areas of Mumbai. Check the builder’s past projects in the market and take feedback from the residents of those projects.

  1. Proximity to the Work Area:

This is one of the most important parameters. The distance of your work location and your residence should not be that far. It will help you to save a good amount of money from traveling and concentrate on repaying the home mortgage.

  1. Distance to Schools, Hospitals and Market:

Another important factor is check the education and medical emergencies. You need to ensure that your kidshave the same comfort of traveling till school in less time. Family safety is equally important, especially when you have elder people at home.

  1. Resale Value and Appreciation in the Future:

Mumbai is a happening city and a great place to invest through the real estate market. However, it is also wise to check the value of your location and understand how far can you earn the profits on your property appreciation.

  1. Amenities:

It is your hard earned money where you are planning to invest and so it is important to check what benefits you currently have of residing in that place. Ask your real estate advisor about the same. Many contractors of Mumbai today make a full fledged city like residential place, where you get schools, hospitals, markets, club house, garden, park, jogging area, restaurants, hotels and parlors constructed by the builder itself.

Filter your favorite place on some of the top real estate sites and start browsing your properties today.