If one has to ask a homebuyer about his dream wish list, one would ask for few things like getting what one can see, carpet area that could be measured, no hidden cost and, last but not the least, no extra tax. Now it seems these fancy wishes would be true with the Goods & Services Tax (GST) if only one would go for a ready to move property.
Indian real estate is yet to reach to a level of maturity where there is authentic due diligence that is accepted and honoured as third party and neutral platform for the buyers. Unfortunately, there is a collective conspiracy of silence on part of the developers by dismissing any such platform, as and when any attempt is made. The larger universe of the developers are still not very comfortable with a critical review platform that would rather lend them credibility for the right kind of projects.
The data available with Track2Realty suggests that more than half of the property transactions in the last three years have been with the under-construction property. However, purchase of under-construction properties is not as simple as it appears from the standpoint of construction timelines. The process needs extra caution from legal standpoint to make sure the second buyer is not caught between the developers’ vague commitments and the first buyers’ exit without the mandatory processes.
The Faridabad-Noida-Ghaziabad Expressway that is 56km long with 19.9km in Noida-Greater Noida, 8km in Ghaziabad and the remaining 28.1km in Faridabad is all set to change the urban landscape of the region. It will not only unlock the land parcels of these regions but also prove to be savior of the working class who buy affordable houses at the fag end of the city. If it is extended till Sohna (which is today being deliberated), its length will be 75 kms and it will further give a boost to the properties of Sohna Road.
Indian real estate, of late, has woken up to the new reality of consumer blackmailing. While in most of the cases the grudge of the homebuyers has been genuine; it seems there is an organized mechanism emerging that want to encash upon the homebuyers’ acrimony with the developers.
Coimbatore has today all the pre-requisite fundamentals of a lifestyle city that is high on the wish list of the corporate sector and the young professionals. The best part is that this development has happened in the last few years when the market conditions otherwise have been bearish; something that suggests the wave of change is here to stay.
Mumbai, as a matter of fact, demands rental housing to be promoted as the feasibility of such an option provides a broad choice of homes to both the investors as well as the expat professionals. The recent economic turmoil also underscored the many advantages of renting and raised the barriers to home ownership, sparking a surge in demand that has buoyed rental markets across the MMR.
Welcome to Noida reality! Contrary to the dynamics of property market where lesser transactions lead to skyrocketing of rental values, in Noida this conventional wisdom of market does not hold true. Noida, as a matter of fact, is a classic case in contrast where the supply is huge, transactions are less and the rental values are the lowest. Reason: imbalance of demand & supply in the same catchment area.
With real estate giving better ROI than any other investment vehicle in the country the investors in the India are today exposed to what is happening in the global market. The investors are hence curious to explore what has been tried and tested format in other matured markets – crowdfunding.
The top 8 cities witnessed residential launches of approximately 25,800 units in the first quarter of 2017 and registering a 16% decline from the corresponding period last year, says a report by Cushman & Wakefield.