Check before buying property in secondary market
Secondary market attracts a significant number of transactions and as per a rough estimate nearly two third home buyers get an apartment in the secondary market.
Secondary market attracts a significant number of transactions and as per a rough estimate nearly two third home buyers get an apartment in the secondary market.
A closer look at some of the leading property markets of the country, like Mumbai, Pune, Chennai, Hyderabad and Bangalore, clearly suggest that the market is poised for an upswing in the next few years. More importantly, it is not just the analysts but also the home-buyers who are today; ready to bet high on the long term growth story of the property market in these leading cities.
The anticipation of the international airport has been behind the property purchase in the region. The investors in this part of the world are hence forced to tavel to one or two hours to Mumbai for their domestic and international flights. The ordeal is unlikely to be over in the next three to four years till the Navi Mumbai International Airport actually takes off.
A high rental growth was seen mostly in South cities like Bengaluru, Chennai and Hyderabad where y-o-y change ranged between 8-17% at some locations. In H1 2017, Bengaluru and Hyderabad both witnessed single digit vacancy levels hovering between 8-9% due to a dearth of quality Grade A stock, thus leading to increased rental values in some micro markets.
In a business that lacked the critical element of trust and transparency, forget brand equity, the entry of corporate conglomerates was widely perceived to be change of business outlook for the sector. The collective consciousness accepted the promise that the corporate giants would change the brand perception of the sector in no time. This load of trust & opportunity goaded many corporate houses into the non-core expertise area of real estate.
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