Boom in luxury housing in Bangalore

Bangalore, the silicon valley of India, is one of the rapidly evolving real estate destinations in the country. Among all the segments, luxury housing is one of the most vibrant segments with the city witnessing a continuous demand for luxury houses.

Factors contributing growth

Urbanization, growing number of high net worth individuals and the need for a global lifestyle have contributed to the growth of luxury apartments in Bangalore. Even non-resident Indians (NRIs) are showing a considerable interest in the luxury properties. This has prompted many real estate developers to launch luxury projects in the city.

Growth in luxury residential projects in Bangalore

Over the years, the number of luxury residential projects in Bangalore has increased. In 2014, the city witnessed 35 new luxury projects as compared to 18 and 17 in 2013 and 2012 respectively. The number will only increase in the coming days. Hebbal, Whitefield, Yeshwantpur, Indiranagar, Palace Road, etc. are some of the luxury hotspots in Bangalore.

Focus on luxury facilities

To attract prospective buyers, real estate builders are focusing on luxury facilities. Hence, they are coming up with facilities at par with international standards. Builders are tying up with global architects and developers to launch innovative projects. They are offering variety in their projects to attract buyers.

Builders in Bangalore are also adding superlative facilities to grab buyers’ attention. Shopping centers, gyms, schools, indoor gaming arenas, concierge desks, etc. are becoming an integral part of luxury properties in Bangalore. Top-quality interiors and bathroom fittings are pushing up luxury levels. In Bangalore, prices of luxury apartments can go as high as Rs 15 crores.

Innovation: The Key

Innovation is the key to success of luxury projects. With so many real estate developers offering high-end projects, the competition is very tough. Hence, it is vital to innovate. With high growth in infrastructure, the realty market will touch new heights in the coming days.

Reasons to invest in eco-friendly properties

With time, there has been a growing buzz for eco-friendly homes. Real estate developers, as well as buyers, are focusing on green aspects during construction. Given below are the reasons as to why you should invest in green homes.

Increases your home’s value

Green homes use sustainable construction materials that boost the overall value of the house. These materials have lower utility bills and are better for the environment. Prices of such apartments are on a rise and will fetch good returns in the coming days.

Lowers utility bills

Green apartments help save a lot of money. You can save on your electricity and other bills. Since these homes have strong insulation, there is no need for artificial heating and cooling system. This reduces the load on your finances.

More durable

Eco-friendly homes wear out soon as they are constructed from recycled products is a common misconception. However, it is not the case. Recycled plastic and wood fibers are more durable than traditional materials. You will spend less time and money in maintaining your home.

Healthy living

Eco-friendly houses improve bio-diversity and the quality of indoor air. This helps you lead a healthy life. Because of cross-ventilation in green apartments, there is free movement of the air that helps residents lead a healthy life.

Preserve the surrounding

Eco-friendly homes preserve the surroundings and cut down carbon emissions. Since they use natural resources, the impact on the environment is extremely less. Real Estate Builders companies engaged in building green apartments can also avail various tax benefits.

Less expensive

It is a common belief that these homes are expensive. Nevertheless, it is not. Since these apartments help you save so much that your cost is recovered soon.

With the degradation of the environment, green homes are the need of the hour. Property investors are increasingly investing in such properties. In the coming days, the demand for these homes will further rise.

Home Building Basics — Finding the right developer

With several real estate developers foraying into the realty segment, choosing the right one is a difficult task. The success of home building depends a lot on the developer and hence it is important to choose a credible builder. Given below are some effective tips that will help you in your choice.

Carry out an extensive research

It is vital to conduct a full-fledged research. While there are several established and prominent brands, there are many smaller players too. Before the final selection, you must study every aspect of the developer minutely. Never blindly believe the claims made by the developer. Carry out a thorough research before finalizing.

Check out the project’s feasibility

Always check out the project’s feasibility in the location undertaken by the developer. There have been several instances in the past when builders have failed to complete their projects because of some hurdle or another. Study the location carefully before making any commitment.

Go for established developers

Always choose real estate builders with a good reputation in the market. Talk to their previous clients to know their experience. Find out whether the developer has been able to deliver his promises or not. It is crucial to find out about his previous projects.

Check out the financial stability

Before finalizing a developer, it is important to check out the company’s financial stability. Find out the financial statements of the companies before the deal. Real estate projects are often delayed due to lack of funds. Investing in delayed projects is a waste of time and money. Hence, it is vital to check out the financial stability of a firm.

See all the relevant documents

Make sure that the developer provides all the relevant and legal documents of the project. Get a copy of the project plan, title-deed and the necessary approvals from the concerned authorities. Hire a lawyer to take care of the legal formalities.

Building a home is a mammoth task. You need to be extremely cautious and ask all the relevant questions about the property before signing.

Extra costs involved in buying a house

Buying a home is not only about paying the price quoted by the builder. There are several extra costs involved in the process. In this article, we will discuss these costs.

Registration cost

The respective state government decides the registration cost. It varies from place to place. Buyers must consult with the concerned officials to know the registration cost of their property. They can also check out the website of the revenue office of their state or territory.

Property search and conveyancing costs

One needs a legal professional to do title and property in Bangalore searches to ensure that it is free of disputes and that the seller is entitled to sell the property. Apart from it, buyers also require services of a professional who will legally transfer ownership of the property.

Fees of real estate agent

As real estate agents have extensive market knowledge, most buyers prefer to hire them while buying a home. Agents charge certain fees for their services. Normally it is a percentage of the selling value of the apartment.

Inspection cost

Home inspection is of prime importance. Prominent real estate developers advise of buyers to inspect their homes before moving in. Sometimes properties might have defects that are only visible to a home inspector.

Title insurance

Title insurance is important. It protects buyers in a case when the information on the title is false. Hence, one must be cautious and ensure that the information on the title is correct.

Origination & Credit Report Fees

Origination fee is paid to the lender who makes the loan available to buyers. On the other hand, to secure the loan, banks often ask for a verified credit report. A certain fee is charged for this.

Appraisal, document preparation, property taxes and utility bills are some of the other extra costs involved while buying a house. Purchasing a home is an expensive affair where there are several hidden costs. Buyers must know about all of them and proceed accordingly.

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Why it is the right time to invest in residential real estate?

The Indian realty market remained stagnant for most part of 2014, with the exception of Bangalore. A dwindling economy coupled with poor buyer sentiment along with the lack of investor confidence affected the sector.

However, with the new Government announcing a slew of measures the sector is brimming with confidence. With the setting up of real estate investment trusts (REITs) and the Government’s vision to set up 100 smart cities, it is the perfect time to invest in the Indian real estate.

Expected rise in prices

If the economy continues to revive, then prices will escalate in 2015. It is during the second-half of the year that prices are expected to escalate. Unsold inventories and the already high price levels will stop prices to rise immediately. Currently, inventory levels are up by three years. In an ideal situation, inventory levels should not go beyond a year. Hence, before real estate companies hike prices of their projects it is wise to buy a property.

Scope for negotiation

The prevailing situation gives customers the scope for negotiation. It is the most opportune time to ask for better amenities at low prices. Many real estate developers are offering discounts and freebies to clear inventories and a variety of payment options. Once the market picks up, it will become difficult to avail these options.

Right time for foreign players for investment

With the relaxation in FDI norms, it is an ideal time for foreign players to invest into the sector. Relaxation in the FDI norms would pump more funds into the sector and make it more competitive. Setting up of REITs would also boost confidence of foreign companies willing to invest in the sector.

Rich dividends

Real estate investment in the present scenario is a profitable deal with high dividends. It is even better if one can negotiate a bulk deal it entitles them to get high discounts. With a slew of positive steps, the Builders in Bangalore Indian real estate sector is all set to achieve new heights in the coming days.

Housing sales to jump in 2015

Following last year’s sluggishness, the housing market in 2015 is expected to gain momentum. A report from JLL estimates housing sales to rise to 1.92 lakh units in 2015 in the top seven cities of India — Mumbai, Delhi-NCR, Chennai, Kolkata, Bangalore, Hyderabad and Pune. In 2014, housing sales in the primary markets of these cities fell to 1.75 lakh units.

Reduced borrowing rates and focus on affordable housing

2015 promises to be a good year for buyers as they would benefit from reduced borrowing rates. Also, the focus of property in Bangalore on affordable housing would aid first-time home buyers. With developers focusing on the construction of affordable homes, the same will bridge the demand and supply gap of such homes. As the economy is gradually picking up, borrowing rates will come down and so too inventory levels.

Property prices to remain stable

Property prices will remain stable during the first half of 2015. This is when real estate companies will offer heavy discounts to clear inventory and hence, buyers will be encouraged to buy new apartments. The report also says the developers will be more sincere about pricing their projects right. They will also focus on creating efficient homes with top-notch facilities to attract buyers. There will be some corrections in over-priced cities to bolster sales.

Technology-based innovation and green homes

With developers focusing on technology-based innovation and green homes, sales are expected to pick up. Bangalore in particular, with improved connectivity and growth in infrastructure, has attracted attention of developers from all around the globe. Real Estate developers in Bangalore are developing world-class projects.

With the Government announcing several positive steps to uplift the sector, it is brimming with confidence. Developers are bullish on launching new projects with buyers getting plenty of options. 2015 is the right time to buy an apartment. Purchasing a property this time will reap high dividends in the years to come.

Ways to save on new home construction

Constructing a new home is a herculean task. With rising costs of building materials, new home construction has become expensive. However, through proper planning one can make good savings. In this article, we will discuss certain tips that will help you save your precious money.

Buy the right land

Buying the right land could save you a lot of money. There are plots where one needs to blast rocks, and this only adds to extra expenditure. Hence, it is vital to finding a suitable plot. Working with a trusted real estate developer is crucial in finding the right plot.

Have a clear idea about square footage

It is important to have a clear idea about square footage. Each square foot adds to your expense and affects every stage of construction. Therefore, you must understand the floor plan and analyze every room. See where you can save money.

Go for recycled building materials

Using recycled building materials would help you save a lot of money. It will also make your home eco-friendly that will help you save significantly in the long run. Many property developers advise customers to go for green building materials.

Act as your own contractor

This process helps you save a significant amount of money. However, before doing this, you need to have an extensive knowledge about the market and the real estate industry. Being your own contractor helps you save approximately 10% of the total construction cost.

Choose a credible developer

It is vital to hire a credible and established developer. Established real estate developers have the experience and expertise with which they help you cut down extra costs.

Know your wants

One of the biggest advantages of building a new home is the freedom to decide your needs. As it is a long process, people often change their minds of what they want. This can be expensive. Therefore, be clear of your wants in the initial stage itself.

Tips for first time Home Buyers Bangalore

Here are some tips for first time home buyers.These tips will make the home buying process easy for buyers.
More Info Visit : http://www.gopalanenterprises.com/

Potential of Bangalore for future investment

One of the fastest growing real estate markets in India, Bangalore has witnessed a tremendous growth over the past few years. It has emerged as one of the most preferred realty destinations in the country. As compared to other cities, Bangalore’s property market has remained resilient. Let us see the potential of Bangalore as a future investment destination.

Conducive environment

Property investors will find a conducive environment to invest in the city’s real estate. With a rapid development in physical and social infrastructure, Bangalore enjoys a robust connectivity. With many IT companies planning to set up operations in the city, the city’s real estate market is expected to grow even higher.

A host of options

Builders in Bangalore offer a host of options to buyers. Right from luxury apartments to villas to affordable houses, the city offers plentiful options to those willing to purchase apartments in the city. With the rapid growth of Namma Metro, real estate developers are coming up with large-scale projects in the city.

High return on investment

Bangalore properties offer a high return on investment. Places like Whitefield, Hebbal, Brookefield, Indira Nagar, etc. have witnessed a robust appreciation in prices and will continue to see an upswing in the coming days.

Robust job market

IT has been the major growth driver for Bangalore’s real estate. It has made the city a sanctuary for investors. Even in the future, IT will continue to drive the city’s real estate market. Bright job prospects are driving buyers to buy apartments here.

Despite a sluggishness in the economy, there has been a rise in economic wealth that has increased buying influence of buyers. Buying properties along the metro corridor are a great way to raise the value of properties.

Bangalore is one of the finest places to invest in properties. Real estate developers are seamlessly integrating construction with new technology to come up with innovative projects.

Boost for the housing sector in 2015 with spike in FDI

2015 can turn out to be a glorious year for the real estate and the housing sector. With global investors showing interest in the sector and the spike in foreign direct investment (FDI), the same will boost the segment manifold.

Spike in FDI — A major boost

Relaxation in FDI will boost the housing sector to a great extent. It will solve the problem of capital for real estate developers and revive the interest of foreign players. It is to be noted that FDI is a major source of capital for real estate companies. Relaxing FDI norms would bring more funds into the sector.

As per the new laws, the minimum built-up area for projects where FDI is allowed has been cut down from 50,000 square feet to 20,000 square feet. Capital investment has also been reduced from $10 million to $5 million.

Help real estate companies to reduce debt

Spike in FDI would help real estate Bangalore to reduce their debt and clean up balance sheets. This will also aid in launching new projects. FDI in real estate would help developers find equity partners for their projects.

Easy loans

Boost to FDI would help developers and buyers procure easy loans. The relaxation has come at the right time, particularly with the setting up of real estate investment trusts (REITs). REITs would bring more transparency into the sector and allow firms to diversify their portfolio.

Big push to the affordable housing sector

FDI in the country’s realty segment would give a big push to the affordable housing market. There is a tremendous potential for this segment in the country and with rapid urbanization, the demand for affordable houses will go high in the coming days.

With the Government announcing a slew of positive measures for the sector, FDI would play a crucial role in uplifting the sector.