Appealing and ultimate residential development

Posted by Jonson Smith
3
Nov 18, 2014
1790 Views

While investing in the real state property it is more important that the investors should have a look on the affordability of the housing. In NAR index a rating of 100% is ideal. So, it is always suggested that when you go to invest on property you have to do proper research on the market. The foremost thing that you should always look after is the location i.e. which all locations are getting fit into this bracket. It has been suggested that in terms of real estate investment, Mumbai is known to be a good city for mid to long term. According to Ahuja of JLL, certain areas of Mumbai like Ulwe and Kalamboli are known to be very promising. While on the other hand owning real estate property in certain cities like Pune, Bangalore, Chennai and Delhi NCR are known to be the good options.

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A recent report says that by the 2013 NCR region will have a demand for nearly 10.2 lakh residential flats for sale, along with the demand for 249 lakh sq ft of offices and 66.6 lakh sq ft of retail spaces. With the high rise demand of residential, offices, retail and hospitality sectors, Gurgaon has become the highest demandable city in terms of real estate investment. Due to hike in the price of land by 25% in the last one year, developers have rushed into this region to launch new projects. Recently number of realty players in real estate like Godrej Developer, Tata Realty from Mumbai and Sobha Developers from Bangalore has launched their projects in Gurgaon. The availability of land for development and avenues for new growth corridors has opened up under the new Gurgaon-Manesar Master Plan 2025, which indicates that it is good enough for more than 58 new sectors where new developments of real estate property are expected to take place. The recorded data shows that almost 35% of residential real estate property is under the process of getting licensed. Golf Course Road, Sohna Road, Pataudi Road, Manesar, Jaipur Highway and a concentrated growth in Bhiwadi and Dharuhera are the major growth corridors in Gurgaon.

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Chennai is another hotspot city where you can imagine yourself for the real estate investment. The property value of east Coast Road has crossed the mark of Rs 11,000 per sq ft especially at the prime locations i.e. near the beach. According to A.P Leo, property consultant at Nucleus Properties who states that the capital value of premium apartments and luxury villas have seen to get a hike of 10-15% in the past six months. According to Sree Kumar from Sree Group of Properties, the phenomenon of flats for sale are also flourishing and have seen to get an appreciation by more than 30% in the recent past. Depending on the location and proximity to the beaches, the rental values of a fully furnished 4 to 5 BHK villas or houses varies from Rs 60,000 - Rs 90,000 per month. Coming to the location i.e. Dahisar in Mumbai which has become one of the most preferred residential destination for real estate investment. The reason is due to the fact of having close proximity to Borivali, infrastructural developments and easy accessibility to public transport. The price of multi storey apartments in Dahisar East locality varies between Rs 7,268 to Rs 8,057 per sq ft during the April-June 2012, while the price in Dahisar West region the flats are available at a range of Rs 9,860 to Rs 10,815 per sq ft.

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