Hunting a Property in Kolkata? Here are The Tips

Kolkata is a cultural city with people of different religions living with demand of residential and commercial Property in Kolkata. Localities like New Town and Salt Lake have been in demand by the buyers. Both the places are well-established with options for various ready to move in housing projects to choose from.

Whether one is Buying Property in Kolkata for end use or to reap benefits in future, of course they need to have some knowledge and guidelines to how to go about Buying Residential Property in Kolkata. Thus, here are some tips for buyers hunting a house in Kolkata. 

Evaluation of the requirement

It is important for the buyers to know what exactly they are desiring for. The buyers should always be clear about their requirements like type, size and the kind of apartment one is looking for before actually starting your search for buying home in Kolkata properties.

New or Resale

Another major factor is to make the decision of whether one wants to invets in new or resale property. Which one is the pick according to which the segregation of property will be done? This is the time to take that decision and analyze what is more worthy of you, a resale property or a new buy? It is important to make the decision as resale properties are less priced as compared to the new properties.

Amenities

Before investing in any property, it is important to know the localities you want to live in. one should check out the area and its surroundings, availability of schools, grocery stores and other facilities nearby the area you are willing to invest in.

The right location

It is said to be the most complex aspect of Buying Property. Each buyer has its own preference like distance form their offices, or schools, metro stations, etc. one should always keep into consideration the essential areas surrounding the locality, public transport and other important things including the right location match for you to reside in.

Hike in The Cost of Residential Property in Noida?

A setback for the buyers at Yamuna Bank, Noida and Greater Noida, the Residential Property is all set to cost more and of course, this burden will come on the pockets of the customers. The implementation of increased stamp duty on registration of units from 5 to 7 percent has been approved by the governor recently, and this will be applicable from the beginning from the financial year i.e. April 1st, 2016.

Experts believe that depending on the size of the purchase units; there will be an increased burden of around Rs. 50,000 – Rs. 2, 00,000 completely on the customers who are willingly investing in Residential Property in Noida, Yamuna Expressway and Greater Noida. They believe that these will undoubtedly affect the demand for property that recently started picking up pace.

After the National Green Tribunal (NGT) verdict last year, it bought positivity and begun to bring customers back in these areas. But, after the governor’s decision, the buyers and investors are morose and are protesting with the developers’ fraternity. Even the developers believe that this move of increasing the stamp duty will never satisfy the buyers, and they will be forced to pay extra money to receive the ownership of their units. This move is of course not for the buyers, and all the efforts by the NGT verdict which bought back the buyers to the Properties in Noida and nearby regions will now go in vain. 

It is to be taken into account that almost one lakh units are registered each year from Noida, Greater Noida and Yamuna Bank which brings along heavy amount to the authorities. The buyers have to bear not only the increased stamp duty but also the axe of transfer fees and lease rents as the properties in these areas are held on lease. Along with this, the transfer charges are also high which is added to the lease rent. It comes down to a total of 1-2.5% of the total cost of the unit. It, however, varies with different Properties in Noida, Yamuna Bank and Greater Noida. Adding to this is the hiked property prices which of course has to be paid by the buyer.

Altogether the problems of Buying Property in Noida, and nearby regions is high, and this will affect the demand for Properties in Noida, Yamuna Bank and Greater Noida. It is being expected that this decision of increased stamp duty will reduce the demand for property in the future.

Growth mode is on for Real Estate Market in Ghaziabad

The gateway to Uttar Pradesh, Ghaziabad is known to be one of the fast growing real estate cities in Delhi NCR. Property in Ghaziabad is catering majorly to the affordable housing and mid-segment segments.  Currently the city is home to numerous housing clusters like Vaishali, Indirapuram, and Kaushambi where are upcoming regions would include developments along the National Highway 24, Crossings Republic Township, and Raj Nagar Extension.

Where areas like Kaushambi, Indirapuram and Vaishali is constructed to a high extent, regions like Raj Nagar Extension is on its way to developments ad numerous renowned developers are construction residential and commercial projects here. The well-developed areas have large existing housing population and have recorded healthy capital appreciation. All the projects whether residential or commercial are launched mostly in the premium or upper medium segments. These offers specifications and are unique.

The major developments can be seen in the region along the National Highway 24. The location is coming up with various plots along with mid and high rise buildings. The lands available in the location are either of the local players or are a part of an integrated township which would be soon constructed in the area.

The upcoming locations in Ghaziabad is developing at a rapid speed and many reputed and renowned developers are taking the initiative to come in the city and build residential and commercial property in Ghaziabad. Some of these developers are Ashiyana Group, SARE, Assotech, Ansal API, and WAVE Group to name a few. Along with the development of Ghaziabad Real Estate Sector, the government is taking the initiative to improve the social and physical infrastructure of the city.

Sub-markets to Ghaziabad also enjoys an enormous population base especially from the SMEs and industrial sector as well as the low income group looking for an up gradation to decent and better accommodation. In the future it is expected to see Property in Ghaziabad a major reason for the development to the city and see majority of sales volumes. Along with these developments, metro rails are also an important factor for all the infrastructural and other developments that are taking place in the city.

New Mantras of Real Estate for Noida Properties

The city, Noida is well-known for being the hub for numerous IT/ITES offices, educational centers, entertainment zones, industries and renowned hospitals. Due to these developments in the city, it has now extended to its surrounding regions like Noida Extension, Greater Noida and Greater Noida West. This area has got a lot of popularity amongst the realty developers as Noida is said to be one of the favorite real estate destination in the whole of NCR. Property in Noida is witnessing rapid growth in the constructions as compared to the rest of National Capital Region. 

When we talk about Noida properties, they range from residential to commercial and from office and retail spaces to multi-use projects. Numerous reputed developers construct the projects keeping in mind the rules and regulations of international infrastructure developments. The developers also prefer to use RCC framework as well as advanced building materials that would impart earthquake resistant features to the projects.

The developers are making sure that they put in features that are either desired by the buyers or that would attract the customers. One such feature is a green building which helps the developer to provide rich green spaces for the needs of the buyers in various segments including retail spaces, housing, business centers, office spaces and entertainment areas. These residential and Commercial Properties in Noida features landscaped greens with unique amenities for the people of all age groups.

Some builders are working effectively and efficiently on constructing the value for money real estate properties that are affordable for the buyers as well. Many renowned and reputed developers are developing properties in Noida and nearby regions offering affordability along with premium lifestyle. These includes Supertech, Ajnara, Gaursons, Nimbus Group, Antriksh Group, MMR Group and JM Housing among many other developers.

 Currently, there has been seen a lot of change in the economic setup of Noida and Greater Noida. Numerous investors have trusted the Properties in Noida as the location is a promising location to invest in. Many people say that the Property in Noida is majorly for the affluent buyers or people which experts believe is not true as many affordable projects are seen in the real estate scene of Noida. This includes both residential as well as a commercial project in Noida. The future is bound to see more constructions in segments like office spaces, retail spaces, commercial and IT centers and multi-use developments. The increase in the demand for affordable homes lead the homebuyers to this region of the National Capital Region offering pocket-friendly rates for premium lifestyles. 

Why is Noida a Promising Zone for Buying Property?

Noida is said to be the most maintained and developed parts of Delhi NCR which have excellent connectivity to places like Delhi, Greater Noida and Ghaziabad. This amazing city offers great connectivity through road networks which include Yamuna Expressway, DND Flyway and National Highway 24. Addition to this, Noida provides good connectivity through Metro stations which connect to various parts of Delhi and Gurgaon. Thus, it is not surprising that Buying Property in Noida is on a hike by the buyers and every year this number is increasing as investors and home buyers are choosing their adobe in the city. Along with all these facilities, Noida has a major social infrastructure which includes hospitals, schools, offices, hospitals, entertainment zones and shopping areas. The city has a broad range of options, from affordable homes to the luxurious ones; thus, Noida Properties have something for each and every home buyer.

The Realty Market of Noida has become promising because there are many renowned and reputed developers of the national and international fame that are operational in the zone and constructing some magnificent Residential Properties in Noida. Some of these developers that are working in the city include Gaursons, Supertech, Ajnara, JM Housing, Antriksh, MMR Group, Mahagun, Panchsheel and Migsun amongst many others. All these developers have increased the count of the quality realty products and has led to competitive rates of these state of the art products which has ultimately benefiting the investors and home buyers. 

These reputed developers are bringing along some outstanding Properties in Noida offering feature and amenities that fulfills the requirements of the buyers. The Residential Property in Noida offers 2, 3 and 4 BHK apartments which will, of course, give high returns on the investments made by the investors who have invested their money only to earn benefits from the real estate investments.

The 2, 3 and 4 BHK Apartments in Noida are coming with some excellent amenities such as uninterrupted water supply, security services, administrative services, and power backup. Some high standard projects are offering additional premium facilities including gym, swimming pool, jogging tracks, car parking areas, gardens and clubhouse.

Looking at all these developments and fast pace developments in the city, it is no doubt that Investing in property in Noida is a wise decision especially for those who are searching for a promising and suitable location which will be beneficial in the future as well.

Is property in Bangalore on the way for the boost through metro links?

Bangalore is known to be the IT hub and now with the coming up of the metro links; the city will soon witness a push to the residential and commercial developments. With the completion of the underground section that will link Baiyappanahalli and Magadi Road to the other locations in the west, east and CBD seamlessly, there will be a visible thrust to the retail and Residential Property in Bangalore to grow. All this, in turn, will increase the prices of Bangalore properties, especially along this corridor.

This purple line of the Metro rail is expected to functional soon. The route will run through the center of Bangalore and link Mysore road in the west through the nodal point Baiyappanahalli. Apart from these upcoming routes, the already existing routes are between MG Road and Baiyappanahalli ad Mysore Road and Magadi Road.

The metro rail is the must-awaited development in the city which will provide seamless connectivity within the city in particular between the neighborhood of Kengeri and the Mysore Road that will further connect to the eastern location of Baiyappanahalli, Whitefield and the Old Madras Road. This will be the major benefit of the residents in these places of connectivity at affordable prices, convenient of avoiding traffic congestion and saves time. This is one of the primary reason for the increase in the demand for residential and Commercial Property in Bangalore, and this is making the developers speed up and complete the construction of the projects.

The completion of Magadi Road to MG Road is said to be a major route as it will connect the commercial heart of the city with the surrounding residential areas of Bangalore. This will enable a quick and easy travel while giving a rapid thrust to the retail as well. The Magadi Road and MG Road line connect key areas in Central Business District which join KG Road and MG Road further to Magadi Road and thus this location witness a high demand for the retail and office spaces along with the Residential Property in Bangalore. 

There has been an increasing demand for residential, retail and Commercial property in Bangalore due to the metro links and developments that are taking place in the city. All these locations have strong property values and are surrounded majorly for the high-end and upper-middle residential properties in Bangalore. Thus, the regions are said to be at the hotspots at the moment, and the prices might increase more with the completion of the projects in the areas.

Real estate Bill Cleared by Rajya Sabha; Home Buyers Relieved

The most awaited Real Estate bill has been passed by the Rajya Sabha that aims to protect the interest of buyers and bring more transparency to the real estate sector. The bill brings along some drastic changes in the real estate sector especially in the buying and selling of residential and commercial Property in Noida, Delhi and rest of NCR. Major developments are taking place in these cities which makes the attention in these cities the most.

The Regulation and Development Bill 2015 has the main motive to bring transparency in the sector, protect the home buyers, and bring out the flow of the unaccounted money into the Real Estate Sector. The real estate Bill provides that the seventy percent of the proceeds from the sale will have to be kept at a side by the developers in an escrow account. This amount can only be used for buying the land or the construction of the related project. This provides certainty to the buyers that the money that they are investing in the project will only be utilized for the development of the respective project where they have planned to buy the house.

 This Bill will help to establish a state-level Real Estate regulatory authorities as well as appellate tribunals that would regulate the transactions relating to both the commercial and residential projects and ensure timely completion and handover of the project. It also calls for clearance of the complaints to both regulatory authorities and appellate tribunals within 60 days which itself sets a timeline for the resolution of disputes.

While the Realty Bill is set for the deadline, it also has the provision for imprisonment up to three years for the promoters as well as a year for the Real Estate Agents and the buyers if there is any violation of the orders of the monetary penalties, appellate tribunals or both.

Experts say that the real estate bill is the need of the hour. However, they believe that there is certain lacked clarity on the Bill related to the ongoing under-construction projects. Also, they clarified that there will be no exceptions in the bill, and the rules are equal for all, and there will be no discrimination by religion, caste, gender, region or creed and this will be included in the bill as well.

The real estate bill is a plus point for the Real Estate Industry of India. This will cut down the frauds in the industry and help the buyers to get their homes or properties on time.