When one develops a slum, for instance, and even if 20 per cent of land is given for commercial use as incentive in the bargain, it is a deal for the developer. After all, in the space starved city like Mumbai even a small chunk of land in any of the prime location is a rare commodity. The question is if such a business dynamics is a feasible model, why did the developers shied away from making the best of it so far.
Reports of price correction, more often than not, seem to conceal more than it reveal on the pulse of the property barometer. The answer as to whether this is the right time to buy is not a simple yes or no, but it depends on a number of factors like whether a buyer is looking for first or second house, for living or investment, if investment then it is for the long run or short run etc.
Considering the overall economic health of an economy is largely influenced by the functioning of its housing market, there is definitely a need to reform the property buying and selling process which allows consumers to be more involved. This is all the more relevant in the present market conditions where, the cost of capital and loans are high and not expected to decrease in the near future – affecting the affordability and availability of homes.
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.
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.
Mumbai has been the undisputed financial capital of India. The emergence of other business destinations, like Bangalore, Gurgaon or Pune could not take the sheen out of the city, even in the wake of infrastructure deficit and other urban problems plaguing the peninsular city. Now the Mumbai city is poised to elevate itself to the next level of business destination. The MMRDA (Mumbai Metropolitan Regional Development Authority) plans to make Mumbai a major global financial hub.
The real estate developers in India are, more often than not, having inwardly obsessed approach to deny that a study is a relative study. They live with the illusion that they understand exactly what their brand represents. However, such mirage may be more reflective of their aspirations for the brand, rather than the reality of public opinion.
In residential space, the speculators can go to North India and invest in a pre-launch and make money in one year or two years. For mid to long-term investors the commercial spaces and retail work much better. But if one is looking at the real long term then one should better invest in land; nothing else can give as much returns as the land.