Gone are the days when the overnight appreciation of property prices was enough for the fly by night operators to lure the buyers with glossy advertisements. The ROI of the advertising spend by the developers was calculated with the number of phone calls in return. The economic downturn leading to an end of era of quick appreciation, however, changed the market dynamics completely.
In terms of price point luxury properties in Dubai are more attractive than any such option in Mumbai and Bangalore. Moreover, the kind of rental returns that are there in the gulf city is no match to any Indian city. Add to it tax-free returns and attractive capital appreciation and your cost & benefit analysis is heavily loaded in favour of benefits. Last, but not the list, is the quality of life in Dubai
The report highlights the key changes in the business environment that are likely to impact CRE requirements and suggests strategies for occupiers and developers to harness the full potential of the opportunities derived from this change. The report also highlights the increased role of investors in changing business environment.
It is generally accepted in the Indian market that rental yields in the country are often much lower than elsewhere in the world because relatively few people seek rented homes: 66 per cent of homes in Indian cities and 90 per cent of homes in rural areas are owner occupied.
The risk could be arising out of Third Party challenges not discovered prior to the commencement date of the policy due to the Title of Property belonging to someone other than the Insured, Descriptions & Plans in Historic deeds of the property being inadequate, Historic transaction being subject to an act of fraud or forgery by a third party that adversely affects insured’s rights over the title of the property, Title to the Property being subject to Unknown Burdens or Discharge of Burdens which may have been imposed in historic deeds executed prior to the commencement date etc.
When the property market is hot, the sharks begin to circle; recognising the opportunity to fleece the rest of us out of our money. The problem with property scams (cartel of appreciation) is that they are hard to detect in advance and often perfectly legal. They are marketed convincingly and professionally, unlike the instantly recognisable scams we are used to in other walks of life. Property sharks are harder to pin down when the market is going up, but they are nowhere to be seen when the prices crashes.
No one is talking about the need for developing satellite cities, at least as of now. This is not because there is any lack of vision with regards to ever increasing urbanisation, but so much virgin territories are there to be developed that the priority is to develop those pockets first. The load on land has also not reached to an alarming level were the infrastructure crumbles, as witnessed in other major cities across the country.
Aundh is today an affluent suburb in the North-West of Pune which is no longer referred in collective consciousness for its chest hospital alone. It is now known more for its posh localities.
Nearly all the developers in the Indian real estate are chasing the Non-Resident Indians (NRIs) but very few have succeeded in attracting the investment of expat Indians. Reason: They have tried to hard sell the properties without actually understanding what these fellow Indians living abroad want.
Mumbai real estate, often criticized for getting saturated, has been rather blessed with a number of hidden jewels. The city is sitting over some of the under-valued and lesser-known micro markets that are set to transform into property hotspots pretty soon. The cynics who thought that the peninsular city is left with no scope of horizontal growth have probably not visited any of these places.